Nogales international., 1928-12-21
LEGAL NOTICE

event of its insolvency or upon
any distribution of its capital
there shall be paid to the holder
CT the preferred stock the pal
value thereof, to-wit, One Hun
dred ($100.00) Dollars per share,
and the amount Of all unpaid ac-
crued dividends thereon, before
any sum shall be paid or any as
sets distributed among the holders
of the common stock; and after
the payment to the holders of the
preferred stock of it's par value
end the unpaid accrued dividends
thereon, the remaining assets and
funds Of the corporation shall be
divided among and paid to the
holders of the common stock &C
cording to their respective shares
The Board of Directors may in
their discretion declare and pay
dividends on the common stool
concurrently with dividends on the
preferred stock, for any dividend
period of any fiscal year when
such dividends are applicable to tn.
common stock; provided that al
accumulated dividends on the pre-
ferred stock for all previous fis
cal years and all dividends on pre-
ferled stock for previous dividend
periods for that fiscal year shall
have been paid in full.
The whole or a4ly part of the
preferred stock shall be SUBJECT to
redemption at one Hundred Zen
AS11U.U0) Dollars per share anO
accumulated dividends hereon at
any time after one year from the
issue thereof at such time or times
and in such manner as the Board
OF Directors shall determine.
ARTICLE vi.
The time Of the commencement
cf this corporation shall be the
date of the filing of these Articles
with the Arizona Corporation Com
mission, and the termination there
of shall be twenty-five years there
after, with the privilege of renew
al, as provided by law.
ARTICLE VII.
The management and conduct OF
the business, property and affairs
of the corporation shall be vested
in and conducted by a Board Of
Directors of not less than three
nor more than five persons, each
a stock holder in this corporation,
and each director, except in case
of vacan, les shall be elected at
the anGlua! meeting of stock hold
ers except the first board, which
is chosen as in these Articles here
matter set forth.
The officers of the company
consists of a president, vice presi-
dent, sc retary and treasurer and
such other officers as the Board
IT Directors shall deem expedient,
and all shall be elected or appoint
ed by the Board of Directors. Any
two or more offices, the duties of
the encumbered of which are con-
sistent maybe held by the same
person. Both the officers and di-
"ectors shall hold their offite for
the period of one year from and
after election and qualification
md until their successors are
eleC ted and qualified, unless re-
moved by the board. The direc-
tors shall have the right TO fill,
my vacancies occurring in the
'oard by death. resignation or 9TH
arwise, and the person or persons
elected to fill any such vacancies
shal, hold his office until the next
1egular meeting of stock holders.
ARTICLE VIII.
The regular annual meeting of
the stock holders which shall be
eld in the main office of the cor
noration on the first Monday of
November beginning with the year
1929, unless such a day shall fall
N a legal holiday, and in which
event such meeting shall be ON the
lext secular day.
ARTICLE TX.
The inoorporators shall name
@he persons who shall. constitute
the first Rpard of Directors and
When so selected by the incorpora-
tors said members of the Board
1hall serve until the first annual
stock holders meeting and until
heir successors are elected and
lualified. II
A majority of the Board of Di-
'ectors shall constitute a quorum
and, except as herein and in the
t.y-.aws otherwise provided, shall
ave the same authority and pow
els as if a full Board were pre-
sent.
ARTICLE K.
The Board of Directors shall
have the power to make and alter
The bylaws of. the corporation; to
fix the amount to be reserved as
working capital, and to authorize
md cause to be executed mort
gages debentures and other obliGa-
tions which shall be liens upon the
and franchises of the cor
poration, and, in general to exer-
Use al, the powers and authority
of the company not expressly
from said Board by law,
or by these Articles of Incorpora-
ton, or by the affirmative action
of the stock holders.
ARTICLE XI.
The stock holders and members
Of this corporation and their pri-
vate property shall be exempt
from any liabilities for the debts
Of this corporation.
ARTICLE XII.
The highest amount of indebt-
ness or liability direct or con-
tingent, to which this corporation
~