The border vidette., 1928-05-26

and lend money; and in carrying on its
business, or for the purpose OF attain
ing or fnrthering any Of its Objects to
do any and all other ncts and things,
and to exercise any aud oil other pow
ers which a natural person could do
and exercise. and which now or here
after may be authorized by law.
ARTICLE "
The authorized amonnt of capital
stock of this corporation shall be Five
Hundred Thousand and no 4 100 $780,
600 00) Dollars, divided into fifty tbous-
and (50000) shares OF The par value OF
Ten and no 4 100 $50 COZ Dollars each.
At such times as the Board OF Direc-
tors may by resolution direct, said
capital stock shall be paid into this
corporation. either in cash or by the
sale and transfer to it OF real or per-
sonal property, contracts, services, or
any otner valuable right or thing for
the use aud purpose OF said corporation
in payment OF which. shares OF the
capital stock Of said corporation m.y
be Issued, and the capital stock soi is-
sued shall thereupon and thereby be-
come and be fully paid up and non
assessable forever, and in the absence
OF actual fraud in the transaction the
judgment OF the Directors as to the
va'ne OF the property purchased shall
be conclusive
ARTICLE V
The time OF the commencement OF
this corporation shall be the dny Of the
filing of Its articles of incorporation
with the Corporation Commission of
the State of Arizona, and the record
ing of the same In the Office OF the
County Recorder of Santa Cruz coun-
ty, Arizona, and tho termination there
OF shall he twenty five (25) years there.
after W tn the privilege OF renewal as
provided by law.
ARTICLE VI
Tie affairs of this corporation shall
be conducted by Board OF not less
than three nor more than seven direo-
tors. who shalt be stockholders OF the
corporation. Said directors shall be \
elected at the annua! meeting Of the ,
stockholders. and shall servo one year,
and until their successors arc elected
and qualified. The annual, meeting OF
this corporation shall be held at such
place, time and hour as may be pre-
scribed by the bylaws OF the corpora
ton. The first board OF directors shall
be elected by the incorporators, who !
shall serve until their successors are
elected and qualified. RI at any time ,
vacancy in the board OF directors shall :
occur said vacancy may be filled by
the remaining members OF the board In
office The person so elected TO fill q
vacancy shall serve during the mex.
plred term OF his predecessor, and until
his successor is elected and qualified.
ARTICLE VII
The officers Of this corporation shall
be a president, vice president, secre-
tary and treasurer, and such other off,
GERS as the board of directors may de-
termine from time To time. who shall
bp elected by the board OF directors
Immediately after each annual meeting.
OF the stock holders, and shall hold Of
>fice for one ear, and until their sue /.
cessors are elected and qualified. The
offices OF secretary and treasurer may
be held by the same person. In the
event OF vacancy in any Office the
board OF directors may fill the same,
and the person SO elected shall serve ?
during the unexpred term Of his pre-
elected and qualified. The first officers
til the first annual meeting OF the stock
holders of the corporation. shall be
elected by the first board OF directors
as coon rs convenient after organiza-
tion
ARTICLE VIII
The board OF directors OF this cor
poration shall have power to make,
amend, revise and repeal the bylaws
OF the company.
ARTICLE TX @ ~
The highest amount OF indebted ness,
or liability, direct or contingent, to
which this corporation is at any time
to subj ct itself is Three Hundred
Thirty Three Thousand Three Hun
dred Thirty and no/l00 1888 $3.50 00y
Dollars.
ARTICLE x
The private property of the stock
holders OF this corporation shall for
ever be exempt from any liability for
the debts Of this corporation. -
ARTICLE XI
Charles L. Hardy, of Nogales, Ari-'
zona who has been bona 6de resident
of the State Of Arizona for at least
three years, is hereby appointed the
lawful agent OF this corporation, for
and in behalf OF this corporation to
accept and acknowledge service and
upon whom may be served all neces-
sary process or processes in any action,
suit or proceedings that may be brought
against this corporation in any OF the
courts of the State of Arizona, and for
all purposes required by law. The
board Of directors Of this corporation
may revoke this appointments Of agent
at any time and shall have power to
ill any vacancy in such position.
ARTICLE XII
The names, residences and post Office
addresses OF the incorporators are as
follows, IL. j. Binkley, Acaponeta.
Nayarit, Mexico, Charles L. Hardy. 220
Trust Building. Nogales, Arizona, and
Leslie q. Hardy, 220 Trust Building.
Nogales. Arizona.
Vr7r yaI IN L