The border vidette., 1933-12-23
cession, as now provided by law.
ARTICLE

The number OF directors OF the cor.
poration shall be fixed from time TO
time by the bylaws. The Eumber Of
directors may be increased as may be
provided In the bylaws. The directors
shall be elected by and from among the
stock olders on the first Tuesday OF
January of each year Until their sue
cessors are elected and qualified, the
following named persons, who are the
incOrporators hereof shall be directors:
Mark B Thompson, 228 Security
Building, Phoenix. Arizona.
Sam II. Kyle, 22S Securit, Build.
Ing. Phoenix, Arizona,
NJ. NJ. Thompson. 22S Security
Building Phoenix, ArlzouA
In case of any vacancy on the Board
OF Directors by death. resignation, DIS
qualification, or any cause. the remain.
Ing directors by vote of majO i.y
thereof may elect director to hold
office for the uneXpired portion OF the
term OF the director whose place shall
be vacant, and until the election Of a
successor
The Board OF Directors shall have
power to hold their meetings outside OF
: the State of Arizona. at such places az
I from time may be designated by the
bylaws, or by resolution of the Board
Any officer elected or appointed by
the Board OF Directors may be removed
at any time by the affirm alive vote of
o majority O! the whole Board OF Difec.
tors. Any other officer or employee OF
the Company may be removed at any
time by vote of the Board OF Directors,
or by any committee or superior officer
upon whom such power OF removal may
be conferred by the bylaws or by vote
of the Board OF Directors.
The Board OF Directors shall have
| power from time to time to. Ak and TO
determine and to vary the amount of
the working capital Of the Oom pAny {;
and to direct and determine the use and
disposition or any surplus or net profits
over and above the capital stock paid
in; and in its discretion the Board Of
Directors may use and apply any such
surplus or accumulated profits in pur.
chasing or acquiring it's bonds or other
.. obligations, or shares OF it's own capital
stock, to suoh extent and in such man.
ner and upon such terms as the Board
OF Directors shall deem expedient; bu
shares or such capital stock 80 purchas.
ed or acquired may be resOld, unless
such shares shall have been retired for
the purpose OF decreasing the COM
pany'e capital stock as provided by law.
Subject always to bylaws made by
th. stock holders. the Board OF Direc.
tors may make bylaws, aud. from time
to time, may alter, amend or repeal
any by laws; but any by-lswa msde by
. hr III r,f hn al
nr repealed by the stockholders at any
annual meeting. or at any spe,ial meet.
ing. provided notice of such proposed
notice OF the meeting.
Whenever any resolution In writing
, may be signed. or any proposed action
acquiesced in writing by all the mem.
bers OF the Board Of Directors. such re-.
solution or proposed action shall be
taken and considered to be the act Of
the Board of Directors, with the same
| force and effect as il the same had been
duly approved by the same vote at a
meeting OF the Board. duly called and
con nvened; and it shall be the duty Of
the secretary of the Company to cause
euch action to be recorded in the min
utes of the Company, with the same
particularly as II 1t had been 80 ep.
proved.
ARTICLE vi
The highest amount OF indebtedness
or liability to which the corporation is
at any time to subject itself Is Sixty.
Five Thousand 1865. 000. .O0) Dollars.
ARTICLE VII
Private property Of the stock holders