Nogales international., 1936-12-31
ARTICLE III.

and shall be paid into the corpora
ton at such time as said board OF
directors may, by resolution direct
either in cash or by the sale or
transfer to the corporation of real
personal or mixed property, con-
tracts, services, or any other val
liable right or thing, for the use and
purposes Of said corporation, on pay
ment for which shares of the CAPT.
tai stock of said corpiration may be
issued, the SAID capital stock so is
sued shall thereupon and thereby
become and be fully paid and non
assessable, and in the absence of
actual fraud in the transaction,
the judgment of the board of dir
ectors as to the value of the con-
sideration given for said stock, shall
be conclusive.
ARTICLE W.
The time of the commencement
of the corporation shall be the date
of the filing of these articles in the
office of the Corporation Commis-
sion of Arizona, and the termina-
ton thereof shall be twenty-five
(25) years thereafter. with the priv
ilege of renewal as provided by law.
ARTICLE v.
The affairs OF the corporation
shall be conducted by a board of
not less than three (3), and not
more than seven CD directors, and
such other officers and agents as
the board of directors shall from
time to time elect or appoint. The
board of directors shall be elected
at the annual meeting of stockhold-
ers to be held on the second Tues
day of January of each year. Until
the annual meeting Of the stock
holders in the year 1897. the follow
ing named persons shall constitute
the board of directors, and shall
hold office as such until their sue
cessors are elected and qualified, to-
wit:
M. E. Pope, Pasadena, California.
H. A. Derby, Pasadena, California
Alfonso Navarro, Los Angeles. Cali
fornia
ARTICLE vi.
The highest amount of indebted
ness or liability, direct or conting-
ent, to which the corporation shall
at any time subject itself, is Twenty
Thousand Dollars ($20,000O0)
which amount does not exceed two
thirds of the amount of the capital
stock.
ARTICLE VII.
The private property of the stock
holders of this corporation shall be,
and is hereby, made exempt from all
corporate debts of this corporation,
of every kind whatsoever.
ARTICLE VIII.
The board Of directors shall have
power to adopt, amend, rescind and
repeal, bylaws for the government
of the corporation, to fill vacan-
cies occurring in the board from any
cause, to elect and appoint such Of
ficers, agents and committees as
they may deem necessary. with such
power as they may confer, and gen.
orally to do whatever in their
judgment may be necessary to pro-
mote the welfare of the corporation
and to further it's lawful activities.
ARTICLE TX.
H. ]. Farmer of Nogales, Arizona,
who has been a bonafide resident
of Arizona for more than three 90
years last past, is hereby appointed
the lawful agent of this corporation
in and for the State of Arizona,
for and on behalf Of the corpora
ton, to accept and acknowledge SER
vice of, and upon whom may be
served, all necessary process or pro-
cesses, in any action, suit or pro-
cedures that may be had or brought
against this corporation; to act as
such agent until such time as his
authority may be revoked by the
board of directors of the corpora
ton and some other duly qualified
person appointed as such agent for
the corporation in accordance with
the laws of the State of Arizona.
IN WITNESS WHEREOF the I'M
dersigned, being each Of the origin
al subscribers to these Articles o.
Incorporation, for the purpose of
forming a corporation under the
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