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Collection: Original Records > Articles of Incorporation

Indian River Corporation (AI-I029)(1959) (20 pages)

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therefor, the amount of. the deficiency shall be fully paid or declared and set apart for payment, but without interest, before any, distribution, whether by way, of dividend or otherwise), shall be declared or paid upon’, or) seit apart) for, the Non-Cumulative Preferred Shares or Common) Shares’. Subject to) all of, the rights of the Cumulative Despenredlsharess the)/hollders) of the Non-Cumullativel Eres ied ferred Shares shall pe entitled, when and as declared by, the) Board) (of Directors; to dividends out of any, funds of this) corporation) at the time legally available for the declaration) of divi'dends), at the) annual rate of, but not exceeding) six ((6%)) per)icent) of the) par value of) such shares) ini preference) or, priority to any, payment of) any, aivaldend! on) Common) (Shares and) payable annually, or, other= wise) as) the) Board) (of, Directors may from time to time) determine he) vilght) to such’ divaidends) on Non-Cumullative Preferred Shares) shall’ not be cumulative), and no rights shall accrue) to) holders) of Non-Cumulative) Preferred Share's) by, reason of, the) fact that dividends) on) such shares are not deciiared! dn\any, prior period. Subject to) all of the rights of the Cumulative Preferred Shares) and! the Non=-Cumullative Preferred) Shares), ) : i dividends) may, be) paid on) the Common Shares), as) and) when declared by the) Board! of; Directors, out of) any funds) of this) corporation legally, available for the) payment of such divaidends!—.