Nogales international., 1936-01-11
LEGAL NOTICE
trustees or otherwise;


specific powers shall not be deem
ed to limit or restrict in any man.
ner the general powers of the cor
poration and the enjoyment and
exercise thereof as conferred by the
laws of the State OF Arizona,
ARTICLE, v.
The authorized amount of the
capital stock of this corporation
shall be five hundred thousand
00,Oo0.0o) dollars divided into
five hundred thousand (500,000)
shares of the par value of one
($1.OO) dollar each. Upon subscrip-
ton. therefor said capital stock shall
be paid into the corporation in
such manner and upon such terms
as the board of directors may fix in
cash, services, or by the sale, trans
fer and assignment to the corpora
ton of property, property rights or
interests therein, real or personal,
for the uses and purposes of the
corporation, and in payment for
which, shares Of the capital stock
of the corporation may be issued,
and such stock so issued shall there
upon and thereby become and be
fully paid up and worcestershire,
and in the absence of actual fraud
in the transaction, the judgment
of the board of directors as to the
value of the services rendered or
property purchased shall be con-
elusive.
ARTICLE VI.
The time of the commencement
of this corporation shall be the date
of the issuance to it by the Ari-
IONA Corporation Commission of a
Certificate of Incorporation and
the termination thereof shall be
twenty-five (25) years thereafter,
with the power of renewal as pro-
vided by law.
ARTICLE VII.
The management and conduct OF
the business, property and affairs OF
the corporation, excepting as 9TH
erwise provided in these articles
shall be vested in and conducted
by board of directors of not less
than three I'D nor more than sew
en- Cd persons, and all directors
except in case of vacancies, shall
be elected at the annual meeting
of stockholders, except the first
board, which is chosen as in these
articles hereinafter set forth. The
officers of the corporation shall
consist of a president, vice presi-
dent, secretary and treasurer, and
such other officers as the board OF
directors shall deem eXpedient, and
all shall be elected or appointed by
the board of directors. Any two OF
more offices, the duties of the in
cumbent of which are not incon-
sistent, may be held by the same
person. Both the officers and dir
ectors shall hold their offices fol
the period of one year from and af-
! ter election and qualification anc
until their successors are elected
and qualified, unless removed by
the board. The directors shall have
the right to fill any vacancy occur
ring in the board by death, resig-
nation, or otherwise, and the per.
son or persons elected to fill any
such vacancy or vacancies shall hole
his office until the next regular
meeting of stockholders.
ARTICLE VIII.
The regular annual meeting Of tht
stockholders shall be held at tht
principal office of the corporation
on the first Monday in February O.
each year, commencing with tn
year 1887.
ARTICLE TX.
The incorporators shall name tht
persons who shall constitute thu
: first board of directors and wher
. so selected by the incorporation.
said members of the board shall
; serve until the first annual stock
holders meeting and until theil
successors are elected and qualified
ARTICLE x.
The board of directors shall have
the power to make and alter tht
bylaws of the corporation; to fiji
the amount to be reserved as work
ing capital, and to authorize anc
cause to be executed mortgages
debentures and other obligation!
which shall be liens upon the pro-
perty and franchises of the corpor-
alton, and, in general, to exercise
all the powers and authority of the
corporation not expressly withheld
from said board by law, or by these
articles of incorporation, or by the
affirmative action of the stockhold-
ers, except as otherwise provided ir
these articles.
ARTICLE XI.
The stockholders and members o.
this corporation and their private
property shall be exempt from any
liability for the debts of this cor