The Omaha guide., 1945-02-17

same from debt; to afford them a
safe and productive investment for
their money; to buy, own, improve,
and sell real estate.
Article III.
The maximum capital stock of
said Association shall be the sum of
Fifty Thousand Dollars and the
minimum capital stock upon which
said Association may commence
business shall be the sum of Five
Thousand Dollars. Said capital
stock shall consist of the cumulative
payments made by the members OF
said Association and dividends
credited thereto and shall be repre-
scnted by shares. Said Association,
shall be authorized to issue a maxi
mum of five hundred shares. Every
share shall have a par value of One
Hundred Dollars and no certificate
hall be issued until the shares rep
resented thereby are fully paid al
par. Certificates for shares that
are fully paid shall be issued 70
members upon demand.
Article W.
The business Of said Association
shall be conducted BY a Board OF
nine directors-three directors Of
the first class, three directors Of the
| second class and three directors Of
the third class. Directors of the
first class shall serve until the first
annual meeting Of the year Of 1915,
at which time three directors shall
be elected who shall serve for a
period of three years therefrom.
Directors of the second class shall
be elected to serve until the first II
nual meeting in 1916 and thereafter 4,
three directors shall be elected 10
succeed directors of the second class,
and such directors so elected shall
serve for a period of three years.
Directors of the third class shall be
elected to serve until the first an
nual meeting in 1947, at which time
three directors shall be elected to sue
coed said directors of the third
class, and such directors so elected
; shall serve for a period of three
years. Except as otherwise provid-
ed herein, directors shall serve for a
period of three years or until then
successors are elected and qualified
AS qualifications for holding office,
directors must be stockholders OF
said Association, must be over the
age Of twenty-five years, and mus,
be a legal resident of the State Of
! Nebraska for five years, continu-
ously, or more Immediately prior 10
election as such director. AT all
meetings Of stockholders, each stock
holder, in person or by proxy, shall
be entitled to cast one vote for each
share owned by him and fully paid
for, irrespective of whether or nor
certificate therefor has been issued
provided, however, that no person,
regardless Of the amount Of stock
owned by him, shall be entitled to
vote in his own right or as proxy
more than fifty shares of stock, ex-
cepting in such cases as are provid-
ed for by statute. AT the annual
meeting, a quorum shall consist OF
the stockholders voting at such meet
ing. AT special meetings of stock
holders, a quorum shall consist OF
at least fifty members. At all an
nual meetings of stockholders, bal
lot boxes shall be provided where
stockholders may deposit their bal
lots and vote for the election of dir
ectors, and such ballot boxes shall
be open at least from the hour of
ten A. M. until three P. M. on the
day of said annual election.
Article. V.
The Directors shall manage the
affairs of the Association, subiec,
to the provisions of these Articles
and the provisions of the Bylaws.
The Association shall have power TO
adopt Bylaws not inconsistent
with these Articles. Vacancies oc-
curing in the Board of Directors.
may be filled by the other director,
until the next annual meeting. when
such vacancies shall be filled bv vote
OF the stockholders.
Article vi.
The officers Of the Association
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