Nogales international., 1932-04-16
LEGAL NOTICE


Q00,00O) of the par value of One
stock when issued shall be fully
paid and non aSsessable and may be
sold and issued in exchange for
cash or in exchange for services or
other property real or personal Oh
auch terms and at such times as
the Board Of Directors may pre-
scribe, and said board shall have
the full discretion and power to fix
the value of property or services for
which stock may be exchanged, and
the determination by said Board of
the value of any such property or
services shall in the absence of fraud
be conclusive as to such value
The stock of this Corporation shall
be sold, exchanged or issued as it's
Board of Directors may from time
to time determine, and in manner
as by its bylaws provided and when
so issued shall thereupon and there
by be and become fully paid and
non asSe. sable.
VI.
The time of the commencement
of this Corporation shall be when
it shall have been issued it's GER
tificate of incorporation therefor
and it's termination shall be twenty
five years thereafter.
VII
The highest amount of liability
or Indebtedness direct or contingent
to which this Corporation may at
any one time subject itself shall be
Fifty Thousand ($50,00000) Dollars.
VIII.
The private property Of the stock
holders of this corporation shall be-,
forever exempt from liability on
account of any Indebtedness or obli-
cations Of this Corporation.
TX.
The business and affairs of this
CORPORATION shall be conducted by
and through it's Board of Directors;
such Board of Directors shall con-
sist of not less than three nor more
| than fifteen members, as by its by
laws may be provided, and the men,
bers of said Board shall be stock
holders in this Corporation and
elected annually, on the first Tues
! day in February of each year, COM
mencing with the year 1888; prov1d-
1 ed, however, that the Board OF Dir
| ectors may elect and appoint as in
/ the bylaws of the Corporation may
b provided. such other officers, in
addition to those in these
Articles of Incorporation spe-
officially mentioned, and by
resolution appoint such COM
rnittee, from it's own members
7 as the Board may see fit, and may
recall and discharge any or all such
officers and dissolve such commit
tees at the will and pleasure OF the
Board, and may vest in such Of
+ ficers and committees all such pow
err as the Board may deem proper
and expedient for the required con-
/ duct of the affairs and business OF
the Corporation.
Until their successors shall be duly
4 elected and qualified, the following
named persons shall constitute the
Board of Directors of this Corpora
/ ton, to-Wit: Frank P. Gardiner, AL
bert E. Sherman and Leslie E.
Moore, and until the bylaws OF this
Corporation shall otherwise provide,
three persons shall constitute its
Board of Directors.
Vacancies from any cause IN the
Board of Directors shall be filled
by the remaining members, or menu
be-. oil the Board, and new mem
bers chosen to fill vacancies shall
serve until the next annual election
of the Board and until their sue
/ cessors, respectively, shall be elected
and qualified.
Vacancies from any cause IN any
other office shall be filled BY the
/ Board in like manner and with like
effect az vacancies of the Board
are filled.
The officer OF this Corporation
who shall manage its business and
affairs subject to the direction and
! control of the Board Of Directors
shall be one President, one Vice
President, one Secretary, one Urea
surer and one General Manager,
whose duties shall be prescribed by
/ the bylaws of the Corporation.
The offices of Secretary and Urea
surer may be held and the duties
thereof performed by one and the
same person. and likewise the Of
fees Of President and General Man
ager may be held and the duties
thereof performed by one and the
same person, if so provided by the
bylaws, and all such officers shall
be elected by and from among the
persons constituting the Board OF
Directors anG snail hold their Of
fees concurrently with the Board,
unless by the Board sooner remov-
| ed
Except a. herein otherwise pro-
vided, a majority Of the members
of the Board of Directors shall con-
stitute quorum, and any meeting
of the Board at which there shall
be present a quorum shall be deemed
( a regular meeting and all business
transacted at any such meeting shall
have the same force and effect as
if transacted BY a full Board meet
ing.
AS soon as may be convenient af-