The border vidette., 1934-05-12
cession, az now provided by law.
ARTICLE

The number Of directors W the cor
pOratfon shall be fixed from time %
time by the bylaws. The Eumber o!
directors may be increased as may be
provided In the hy.lawa. The directors
shall be elected by and from among the
stock h olders on the first Tuesday ot
January Of each year Until their sue.
cessora are elected and qualified. the
following named persnns. who are chs
incorpolators hereof, shall he directors,
Mark q. Thompson, 2a3 Security
building. Phoenix. Arizona.
Sam Il. Kyle, 223 security Bn:!d-
Ing. Phoenix. Arizona.
NJ Nj. Thompson. 223 Security
Building Fnoenix. Arlzoua.
In csne of any vacancy IN the noa-l
Of Directors by death. resignation, dis
gaalincat!On. or any csree, the rsmain-
log directors by vote 0! 3 in~io lily
thereof may elect a 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 shal' have
the State OF a rizOnA. at auch places as
from time may be designated by the
bylaws, or by resolution OF tho Boxrd
Any officer elected or appointed by
the Board OF Directors may be removed
at any time by the affirmative vote Of
q majority OF the whole board OF Diiec-
tors. Any other officer or employee Of
tho 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 fix and TO
determine and to vary the amount OF
the working capital o: the Company:
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 il pur.
chasing or acquiring ite bonds or other
obligations, or shares of its own capital
stock. to such extent and in such man
ner aDd upon such terms rs the Board
of Directors shall deem expedfent; buy
shares or such capital etock SO purchas-
ed or acquired may ba resOld. unless
such shares shall hsve been retired for
the purpose of decreasing tho COM
pany's capital stock az provided by law.
Subject always 10 by.lawe made by
the stock holders, the Board OF Direo:
tors may make By. laws. aud. from time
TO time. may, alter, amend or repeal
any bylaws; but any by-laws msde by
the Board OF Directors may be altered
or repealed by the stock holders at any
annual meeting. or at any special meet.
alteration or repeal bs included in the
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 ened; and it shall be the duty Of
the secretary OF the Company to csuse
.uch action TO be recorded in. tho min
utes of the Company. with the same
particularity as II 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. 900. .00) Dollars.
ARTICLE VII
Private property OF the stock holders