The border vidette., 1934-01-06
cessior, 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 number OF
directors may ba increased as may he
provided in tho bylaws. The directors
shall he elected by and from among the
stock holders on the first Tuesday OF
January of each year. Until their sue
cessors are elected and qualified, the
following named larsUns, who are the
incorporators hereof, shall be directors:
Mark B Thompson, 228 Security
Building. Phoenix, Arizona.
Sam IL. Kyle, 22S security Build
ing, Phoenix, Arizona.
NJ. NJ. THOMPSON. 22S Security
Building Phoenix, Arizona.
In caee OF any vacancy on the Board
OF Directors by death. resignation. DIS
qualification. or any cause, the remain.
ing directors by vote OF a 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 shalt have
power to hold their meetings outside Of
the State OF Arizona. ut such places as
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 ltive vote OF
a majority OF the whole hoard OF DiIec.
tors. Any O'her 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 ct removal may
be conferred by tha by laws or by vote
OF the Board OF Directors.
The Board OF Directors shalt have
power fro time to time to fix and 10
determine and to vary tho amount OF
the working capital Of the company;
and to direct and determine the use and
disposition or any surplus or net profits
over and above rhe capital stock paid
In; and in its discretion the Board OF
Directors may use and apply any such
surplus or accumulated profits in pnr-
chasing or acquiring it's bonds or other
obligations, or shares OF its own capital
stock, to such extent aud in such man
per aud upon such terms as the Board
shares or such capital stock SO purchas-
ed or acquired may bs reso!d. unless
such shares shall have been retired for
the purpose OF decreasing the com.
pany's capital stock as provided by law.
Subject always to flaws made by
th. stockholders. the Board OF Direo-
tors may make bylaws. and. from time
TO time may alter, amend or repeal
any by laws; but any bylaws mtde by
the Board OF Directors may be altered
or repealed By the stockholders at any
annual meeting. or at any special meet.
ing, provided notice Of such proposed
alteration or repeal be included in the
notice of the meeting.
Whenever any resolution IN writing
may be signed. or any proposed action
AGO uiesced in writing by all the mem.
bers of the Board OF Directors, such re-.
solution or proposed action ehsll be
taken and considered to be the act OF
the Board Of Directors, with the same
force and effect as il the came had been
duly approved by the same vote st a
meeting Of tho Board, duly called and
con vened; and it shalt be- the duty 0f
the secretary OF the Company to cause
{ uch action to be recorded in the min
utes OF the Company, with the same
particularly eS II 1t had been go ep.
proved.
ARTICLE vi
The highest amount OF Indebtedness
or liability to which the corporation IL
at any time to subject itself is Sixty
Five Thousand 1865 coo. .00) Dollars.
ARTICLE VII
Private property OF the stock holders