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Collection: Original Records > Articles of Incorporation
Great Northern Gold Mines Inc (AI-G153) (1933) (13 pages)
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Page: of 13
TENTH. In furtherance, and not in limitation of the
powers conferred by the laws of Delaware, the Board of Directors
is expressly authorized; .
To make, alter, amend and repeal the By-Laws of
the Corporation subject to the power of the holders
of the stock of the Corporation having voting power
to alter or repeal the By-Laws made by the Board of
Directors;
To determine whether any, and if any what part
of the surplus of the Corporation or of the net profits
arising from its business shall be declared in dividends
and paid to the stockholders, and to direct and determine
the use and disposition of any such surplus or net profits;
To fix, from time to time, the amount of the
profits.of the corporation to be reserved as working
capital or for any other lawful purpose;
To purchase, hold, cancel, reissue, sell or
transfer shares of the stock of the Corporation, provided
that the Corporation shall not use its funds or property
‘for the purchase of shares of its own stock when such use
would cause any impairment of its capital and further
that shares of its om stock belonging to it shall not
be voted upon directly or indirectly;
To determine from time to time whether and to what
extent and at what times and places and under what
conditions and regulations the accounts and books of the
Corporation, or any of them, shall be open to the
inspection of the stockholders; and no stockholder shall
have any right to inspect any account or book or document
of the corporation, except as conferred by the laws of
Delaware, unless and until authorized so to do by
resolution of the Board of Directors or of the
stockholders;
The Board of Directors by resolution passed by a
majority of the whole Board may designate two or more
of their number to constitute an Executive Committee,
which Committee, to the extent provided in said
resolution or in the By-Laws of the Corporation, shall
have and may exercise all of the powers of the Board of
Directors in the management of the business and affairs
of the Corporation, and shall have power to authorize
the seal of the Corporation to be affixed to all papers
which may require it.
ELEVENTH. In addition to the powers and authorities herein
or by statute expressly conferred upon them, the Board of Directors
may exercise all such powers and do all such acts and things as
may be exercised or done by the Corporation, subject, nevertheless,