The border vidette., 1934-06-09
cession, "a 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 be increased as may be
provided in the by.laws. Tho directors
shall be elected by and from nmong the
stockholders On the irst Tuesday Of
January Of each year. Until their sue
cessors are elected and qualified, the
following named persons. who are the
incorpora:ors hereof, shall be directors:
Mark B Thompson, 22S Security
Building, Phoenix. Arizona.
Sam II. Kyle, 22S Security Build.
ing, Phoenix, Arizona.
NJ. Nj. Thompson. 228 Security
Building Phoenix, Arizona.
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 ity
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 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
q majority OF the whole tsOard OF Direc-
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 by laws 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 Of 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 in pur.
chasing or acquiring it's bonds or other
obligations, or shares of its own capital
stock, to such extent and in such man
ner aud upon such terms as the Board
shares or such capital stock so 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 by laws made by
the stock holders. the Board OF Direc-
tors may make bylaws, and. from time
to time, may alter, amend or repeal
any by laws; but any by-laws made 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
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 II the same had been
duly approved by the same vote at q
meeting OF the Board, duly called and
con vened; and it shall be the duty Ot
the secretary OF the Company to cause
ruch action to be recorded in the min
utes Of the Company, with the same
particularly as II it had been 80 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 600. .00) Dollars.
ARTICLE VII
Private property OF the stock holders