Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1938-11-24

HE AShOt CREAMERY ASSO-
CATION.
KNOW ALL MEN BY THESE
PRESENTS:
That we, the undersigned, the pres
ident and secretary of the Askov
Creamery Association, of Askov, Min
nesota, cooperative corporation or
ganized and existing under and by
virtue of Chapter 1872, Session laws
1919 (and acts amendatory thereof
and supplementary thereto), do here
by certify that on the 10Th day of
July, 1888, the board of directors of
this corporation by vote adopted a
resolution setting forth the full text
of proposed amendments to be sub
mitted to the stockholders and also
the full text of the articles to be
amended of the articles of incorpora-
ton; and,
That pursuant thereto and on the
9th day of July, 1888, notice was
mailed to each and every stakeholder
containing a copy of the resolution
of the board of directors so adopted
and containing the full text of the
proposed amendments and also the
full text of such articles as may be
repealed by such amendments and
designating the time and place of
meeting at which such proposed
amendments would be considered and
voted upon by the stockholders; and
That pursuant to said notice and
at the special meeting of the stock
holders held in the D. B. S. Hall,
Askov, Minnesota, on the 18th day of
August, 1888, at 800 o'clock P. NJ,
at which time quorum of the stock
holders were registered as being pres
ent, on motions being duly made and
seconded, it was resolved:
That the Askov Creamery ASsocia-
ton hereby elects to be brought under
and be bound by the provisions of
Chapter 1876, Laws of Minnesota for
1923, and amendments thereto, and
that the articles of incorporation be
amended as follows, to-wit
That Article vi be amended to read
as follows:
Section l. The government of this
association and the management of it's
affairs shall be vested in board of
not less than five directors, which
board shall be elected by ballot by
the stockholders for such terms as the
bylaws may prescribe at the annual
meetings of the stockholders.
Section 2. The annual meetings
of this association shall be held within
the corporate limits of the city, viii
lage or township in which its prin-
cipal place of business is located,
on the third Tuesday in February of
each year, the exact place and hour
to be determined by the board of
directors.
Section 3. Vacancies in the board
of directors, except in cases of re-
moval by the stockholders, may be
filled by the remaining members of
the board, the person or persons so
appointed to hold office until the next
annual meeting of the stockholders
and until their successors have been
elected and qualified.
Section f. The names and adj
dresses of the first board of directors
are:
c. Sebald, Askov, MINI.
Peter Petersen, ASkov, Mimi.
J. P. Frederiksen, Askov, Mimi.
Anton Gravesen, Askov, Mimi.
Fred johnson, Askov, MINI.
Christian Sorensen, Askov, MINI.
Martin Isaksen, Askov, MINI.
Section 5. The officers of this
association shall be a president, one
or more vice-presidents, secretary
and treasurer, who shall be elected
annually by and from the directors.
The offices of secretary and treasurer
may be combined, and when so COM
bined, the person filling such office
shall be termed 'secretary-treaSurer.
Section 6. Until the first annual
meeting of the stockholders and until
their successors are elected and have
qualified, the officers of this aSSocia-
ton shall be as follows:
President, c. Sebald.
Vice-president, Peter Petersen.
Secretary, j. P. Frederiksen.
Treasurer, Anton Gravesen."
That Article VII be amended to
read as follows:
Section l. The amount of capital
stock of said cooperative association
shall be Ten thousand dollars, and
shall be divided into One thousand
shares of Ten dollars each, and shall
be paid at such time and in such
manner as the directors of this asso-
citation shall order, but no share shall
be issued for less than its par value
nor until the same has been paid for
in cash or its equivalent. The asso-
citation may commence business when
ever twenty per cent of the author
lied capital stock has been subscribed
and paid in, and the amount of the
capital stock outstanding shall at no
time be diminished below twenty per
cent of the amount of the authorized
capital.
Section 2. The ownership of cap
ital stock in this association by any
individual stakeholder shall not ex-
coed the par value of Two hundred
dollars; stockholders shall be re-
stricted to only one vote in the affairs
of the association, and voting by proxy
shall not be permitted. Shares OF