Nogales international., 1947-05-16


form all other deeds, acts and things
incident or convenient thereto as
fully and effectually as a natural
person may.
ARTICLE v.
The amount of the capital stock
of this corporation is one hundred
thousand ($1OO,OOO.OO) dollars, di-
vided into one hundred thousand
100000 shares of the par value
of one ($1yO0) dollar each. Stock
shall be issued when paid for in
cash, services or property, and shall
be issued as fullyspaid, and shall be
forever nonassessable. The judg-
ment of the Board of Directors as
to the value of the property taken
in exchange for stock shall be con-
elusive in the absence of fraud.
ARTICLE VI.
The time of the commencement
of this corporation shall be the date
on which certificate of incorpora-
ton is issued by the Corporation
Commission of Arizona, and it shall
terminate twenty-five years there
after, unless renewed in the manner
provided by law.
ARTICLE VII.
The affairs of this corporation
shall be conducted by a board OF not
less than three nor more than seven
directors, who may or may not be
stockholders of this corporation.
The number of directors shall be
fixed by the bylaws of the cor
poration. In the first instance and
until changed by the bylaws, the
number of directors shall be three.
Said directors shall be elected at
the annual meetings of the stock
holders, and shall serve for one
year, and until their successors are
elected and qualified. The annual
meetings of the corporation shall
be held at such place and hour as
may be prescribed by the bylaws
of the corporation on the second
Monday in March of each year, be-
ginning with the year 1913. The
first board of directors who shall
serve until the first annual meeting
of the stockholders and until their
successors are elected and qualified
shall be Fred H. Magill, William O..
Reuss and Oscar Mailer. If at any
time vacancy in the board of di-
rectors shall occur, said vacancy
may be filled by the remaining
members of the board in office. The
person so elected to fill vacancy
shall serve during the uneXpired
term of his predecessor, and until
his successor is elected and quail
fled. If at any time the board of
directors, by amendment to the by
laws of the corporation, increase
the number of directors, then the
directors holding office at the time
of such increase shall elect directors
to fill the offices created by such
increase, who shall serve until the
next annual meeting Of the stock
holders and until their successors
are elected and qualified.
ARTICLE VIII.
The officers of this corporation,
who may or may not be stockholders
of the corporation, shall be a preSi-
dent, vice-president, secretary and
treasurer, and such other officers as
the board may determine from time
to time, who shall be elected by the
board of directors Immediately after
each annual meeting of the stock
holders Of the corporation, and shall
hold office for one year, and until
their successors are elected and
qualified. The offices of secretary
and treasurer may be held by the
same person. In the event OF a
vacancy in any office, the board of
directors may fill the same, and the
person so selected shall serve during
the unexpired term of his predeces-
sor, and until his successor is elect
ed and qualified. The first officers
of the corporation, who shall serve
until the first annual meeting of
the stockholders of the corporation,
and until their successors are elected
and qualified, shall be:
Fred H. Magill, President
William o. Reuss, Vice-President
Oscar Mailer, Secretary
Oscar Mailer, Treasurer.
ARTICLE TX.
Bylaws for this corporation shall
be adopted and may he amended
or revised by the board of directors,
until and unless otherwise provided,
by resolution of the stockholders.
ARTICLE x.
The highest amount Of indebted
ness or liability, direct or contin-
gent, to which this corporation is
at any time to subject itself is
sixty-six thousand 1856, 100000 dol
lars.
ARTICLE XI.
The private property of the stock
holders of this corDoratiOn is to be