The border vidette., 1934-04-28
cession, as now provided by law.
ARTICLE

The number OF directors of the cor.
| poration shall be fixed from time ia
time by the bylaws. The number Oi
directors may be increased as may be
provided in the by.lawa. The directors
! shall be elected by and from among the
stock h oldcrs 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, 22S Security
Building. Phoenix, Arizona.
! Sam II. Kyle, 22S Security Build.
ing, Phoenix, Arizona.
M. M. Thompson, 228 Security
Building Phoenix, ArizouA.
! In case of any vacancy ON the Board
OF Directors by death, resignation, dis
J qualification, or any cause, the remain.
| ing directors by vote Of mSjO ity
thereof may elect director to hold
office for the unexpired portion OF the
term of the director whose place shall
be vacant, aud until the election Of a
successor
The Board Of Directors shall have
power to hold their meetings outside of
! tho State of Arizona at 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 affirmative vote of
a majority OF the whole Board of Direc.
tors. Any other officer or employee Of
the Compa may be removed at any
= hy uofo If &ho POo r6 nf nirootorc
or by any committee or superior officer
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 fix and 20
determine and to vary the amount OF
the working capital Of the Company; !;
and to direct and determine the use and
disposition or any surplus or not profits
over and above the capital stock paid
in; and in It's discretion the Board Of
Directors may use aud apply any such
surplus or accumulated profits in pur.
chasing or acquiring its bonds or other
obligations, or shares OF it's own capital
stock, to such extent and in such man
!! ner aud upon such terms as the Board
OF Directors shall deem expe6ient; but
shares or such capital stock go purchas.
ed or acquired may be resold, unless
such shares shall have been retired for
the purpose Of decreasing the com.
pany'a capital stock as provided by law.
Subject always to bylaws ma6e by
The stock kholders. the Board Of Direc.
tors may make bylaws, and. from time
to time. may alter, amend or repeal
any by laws; but any by-lsws made by
the Board OF Directors rlay be altered
nr repealed by the stock holders 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 quiesced in writing by all the mem.
bers of the Board Of Directors. such re-.
solution or proposed action shall be
taken and considered to he the act of
the Board OF Directors, with the same
force and effect as II the same had been
duly approved by the same vote at a
meeting Of the Board, DULY called and
convened; and it shall be the duty Of
the secretary OF the Company to cause
such action to be recorded in the min
utes OF the Company, with the same
particularity as it it had been so ap.
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. O0O. .O0) Dollars.
ARTICLE VII
Private property of the stock holders