HomeMy WebLinkAbout2061 the State of Florida now or hereafter in effect or impliedly
by the reasonable construction of the said laws.
ARTICLE III-
. ~ CAPITAL STOCK
Z'he maximum number of shares of stock which this corpora- ~
tion is authorized to issue is as follows:
A. 9,000 shares of six (6~6) percent preferred stock,
each share haviriq a par value of One ($1.00) Dollar. Z'he preferred
shares shall have the preference and be governed by the limitations ~
set forth hereinbelaw. ~
B. 1,000 shares of coto~non stock, each share having a
par value of of One ($1.00) Dollar.
C: ' The six (696) percent preferrecl stock shall be non-
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cumulative and non-voting. Z'he preference shareholders shall be
entitled to receive out of the net profits of the Corporation a
fixed non-ctuaulative, non-participating preferential dividend of
si.x cents per share per annum and no more, accruing and calculated
from the first day of each fiscal year, commencing with the first
fiseal year of the Corporation as and when declared by the Bce rd
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; of Directora and if so specified by the Board of Directors by !
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resolution, any such dividend declared within six (6) months after
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' the end of any fiscal year may be deemed to satisfy the require- -
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~ menta of the previous fiscal year.
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D. Z'he holders of preference shares shall not, on a
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dissolution, bankruptcy, or a winding-up of the Corporation, or
E liquidation of its busines8 and assets, or on any division of
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E capital or assete, be entitled to participate in the aurplus assets
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