EXHIBIT      3.2

| ARTICLE                I. OFFICE | 1 |
|----------------------------------|---|

|   | Section                1.1 | Registered                Office | 1 |
|--------|----------------------------|----------------------------------|---|
|   | Section                1.2 | Principal                Office  | 1 |

| ARTICLE                II. MEETINGS OF STOCKHOLDERS | 1-4 |
|-----------------------------------------------------|-----|

|   | Section                2.1  | Annual                Meeting                                     | 1 |
|--------|-----------------------------|-------------------------------------------------------------------|---|
|   | Section                2.2  | Special                Meetings                                   | 1 |
|   | Section                2.3  | Place                and Time of Meetings                         | 1 |
|   | Section                2.4  | Notice                of Meetings                                 | 1 |
|   | Section                2.5  | Adjournment                                                       | 2 |
|   | Section                2.6  | Date                for Determining Stockholders Entitled to Vote | 2 |
|   | Section                2.7  | List                of Shareholders Entitled to Vote              | 2 |
|   | Section                2.8  | Quorum                and Required Vote                           | 2 |
|   | Section                2.9  | Proxies                                                           | 3 |
|   | Section                2.10 | Convening                Stockholders Meetings                    | 3 |
|   | Section                2.11 | Voting                at Meetings                                 | 3 |
|   | Section                2.12 | Persons                Who May Vote Certain Shares                | 4 |

| ARTICLE                III. BOARD OF DIRECTORS | 4-7 |
|------------------------------------------------|-----|

|   | Section                3.1  | General                Powers            | 4 |
|--------|-----------------------------|------------------------------------------|---|
|   | Section                3.2  | Number,                Term and Election | 5 |
|   | Section                3.3  | Removal                of Directors      | 5 |
|   | Section                3.4  | Regular                Meetings          | 5 |
|   | Section                3.5  | Special                Meetings          | 5 |
|   | Section                3.6  | Place                of Meeting          | 5 |
|   | Section                3.7  | Quorum                and Required Vote  | 6 |
|   | Section                3.8  | Executive                Committee       | 6 |
|   | Section                3.9  | Other                Committees          | 6 |
|   | Section                3.10 | Compensation                             | 7 |
|   | Section                3.11 | Actions                Without Meetings  | 7 |

| ARTICLE                IV. OFFICERS | 7-9 |
|-------------------------------------|-----|

|   | Section                  4.1 | General                                  | 7 |
|--------|------------------------------|------------------------------------------|---|
|   | Section                  4.2 | Chief                  Executive Officer | 7 |
|   | Section                  4.3 | Chairman                  of the Board   | 7 |
|   | Section                  4.4 | President                                | 8 |

|   | Section                  4.5 | Vice-Presidents                                                 | 8 |
|--------|------------------------------|-----------------------------------------------------------------|---|
|   | Section                  4.6 | Secretary                                                       | 8 |
|   | Section                  4.7 | Treasurer                                                       | 8 |
|   | Section                  4.8 | Assistant                  Secretaries and Assistant Treasurers | 8 |
|   | Section                  4.9 | Vacancies                                                       | 9 |

| ARTICLE                V. CAPITAL STOCK | 9-10 |
|-----------------------------------------|------|

|   | Section                5.1 | Certificates                                          | 9  |
|--------|----------------------------|-------------------------------------------------------|----|
|   | Section                5.2 | Lost,                Stolen or Destroyed Certificates | 9  |
|   | Section                5.3 | Stock                Transfers                        | 9  |
|   | Section                5.4 | Closing                of Transfer Books              | 10 |
|   | Section                5.5 | Record                Holders of Stock                | 10 |
|   | Section                5.6 | Dividends                                             | 10 |

| ARTICLE                VI. INDEMNIFICATION | 11-13 |
|--------------------------------------------|-------|

|   | Section                6.1  | Nature                of Indemnity                                     | 11     |
|--------|-----------------------------|------------------------------------------------------------------------|--------|
|   | Section                6.2  | Successful                Defense                                      | 12     |
|   | Section                6.3  | Determination                That Indemnification is Proper            | 12     |
|   | Section                6.4  | Advance                Payment of Expenses                             | 12     |
|   | Section                6.5  | Procedure                for Indemnification of Directors and Officers | 13     |
|   | Section                6.6  | Survival;                Preservation of Other Rights                  |   |
|   | Section                6.7  | Insurance                                                              |   |
|   | Section                6.8  | Severability                                                           |   |
|   | Section                6.9  | Consolidations                and Mergers                              |   |
|   | Section                6.10 | Definitions                                                            |   |

| ARTICLE                VII. MISCELLANEOUS | 13-14 |
|-------------------------------------------|-------|

|   | Section                7.1 | Negotiable                Instruments and Contracts                    | 13 |
|--------|----------------------------|------------------------------------------------------------------------|----|
|   | Section                7.2 | Resignations                                                           | 13 |
|   | Section                7.3 | Fiscal                Year                                             | 13 |
|   | Section                7.4 | Action                with Respect to Securities of Other Corporations | 13 |
|   | Section                7.5 | Computation                of Time                                     | 14 |
|   | Section                7.6 | Waiver                of Notice                                        | 14 |
|   | Section                7.7 | Amendments                                                             | 14 |