Exhibit 3(b)







	BYLAWS

	OF

	THE MONTANA POWER COMPANY







Adopted on	:	August 22, 1995





	THE MONTANA POWER COMPANY

	AMENDMENTS TO BYLAWS



Article	Amendment	Date of Amendment

11 (A)	Establishment of the  	August 22, 1995
	number of Directors as
	sixteen (16).


11 (A)(1)	The Directors shall be divided	August 22, 1995
	into three groups, each as 
	nearly equal as possible.  
	Each group of Directors shall 
	stand for election upon
	expiration of their terms.
	Directors shall hold 
	office for a term of three (3)
	years or until a successor is 
duly elected and qualified; 
provided, however, that at the 
annual meeting of shareholders 
to be held in May 1996, seven 
(7) Directors shall be elected 
with six Directors serving a 
term of three (3) years and 
one (1) Director serving a 
term of two (2) years.

  21	Corporate Acquisition 	August 22, 1995
		of its Own Shares.
The Company may acquire its own 
shares, and shares so acquired 
shall constitute authorized and 
issued shares.



	THE MONTANA POWER COMPANY
	CERTIFICATION OF RESOLUTION
	I, R. M. Ralph, Assistant Secretary of The Montana Power Company, a 
corporation, hereby certify that the following is a full, true and correct 
copy of Resolution duly adopted by the Board of Directors of The Montana 
Power Company at a meeting duly called and held August 22, 1995 and that 
said Resolution is in full force and effect as of the date of this 
certificate.

		RESOLVED, that the Board hereby amends the Bylaws of the Company 
as proposed and set forth at this meeting.

	IN WITNESS WHEREOF, I have hereunto set my hand and the Seal of said 
Corporation this 26th day of February 1996.  



					\s\R. M. Ralph, Assistant Secretary




(SEAL)



											
											1.02
			As Adopted August 22, 1995
	BYLAWS
	OF
	THE MONTANA POWER COMPANY

	SECTION 1.  Principal Office.  The principal office of the corporation 
is 40 East Broadway, Butte, State of Montana.  The Corporation may also have 
offices at such other places within or without the State of Montana as the 
Board of Directors shall from time to time determine.  
	SECTION 2.  Location of Shareholders Meetings. Meetings of the 
shareholders and meetings of the Board of Directors shall be held in Butte, 
Montana, or, upon resolution by the Board of Directors, may be held at another 
place, within or without the State of Montana.  	
	SECTION 3. Shareholder Meetings.
	 (A)  Annual Meeting of Shareholders.  
	(1) The annual meeting of the shareholders of the Corporation for 
the election of Directors and such other business as shall properly 
come before such meeting shall be held on (a) the second Tuesday in May 
in each year, unless that date is a legal holiday, in which case such 
meeting shall be held on the first day thereafter which is not a legal 
holiday, or (b) at such other date and/or time as may be fixed by 
resolution of the Board of Directors.  Nominations of persons for 
election to the Board of Directors of the Corporation and the proposal 
of business to be considered by the shareholders may be made at an 
annual meeting of shareholders (a) pursuant to the Corporation's notice 
of meeting delivered pursuant to Section 5 of these Bylaws, (b) by the 
Board of Directors pursuant to a resolution duly adopted or (c) by any 
shareholder of the Corporation who is entitled to vote at the meeting, 
who complied with the notice procedures set forth in clauses (2) and 
(3) of paragraph (A) of this Bylaw and who was a shareholder of record 
at the time such notice is delivered to the Secretary of the 
Corporation.
	(2)  For nominations or other business to be properly brought 
before an annual meeting by a shareholder pursuant to clause (c) of 
paragraph (A) (1) of this Bylaw, the shareholder must have given timely 
notice thereof in writing to the Secretary of the Corporation.  To be 
timely, a shareholder's notice shall be delivered to the Secretary at 
the principal executive offices of the Corporation not less than 120 
days in advance of the anniversary date of the release of the 
Corporation's proxy statement made in connection with the previous 
annual meeting; provided, however, that in the event that the date of 
the annual meeting is advanced by more than twenty days, or delayed by 
more than seventy days, from the anniversary date of the previous 
annual meeting, notice by the shareholder to be timely must be so 
delivered not later than the close of business on the later of the 
120th day prior to such annual meeting or the tenth day following the 
day on which public announcement of the date of such meeting is first 
made.  Such shareholder's notice shall set forth (a) as to each person 
whom the shareholder proposes to nominate for election or reelection as 
a Director, all information relating to such person that is required to 
be disclosed in solicitations of proxies for election of Directors, or 
is otherwise required, in each case pursuant to Regulation 14A under 
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), 
including such person's written consent to being named in the proxy 
statement of the nominator as a nominee and to serving as a Director if 
elected; (b) as to any other business that the shareholder proposes to 
bring before the meeting, a brief description of the business desired 
to be brought before the meeting, the reasons for conducting such 
business at the meeting and any material interest in such business of 
such shareholder and the beneficial owner, if any, on whose behalf the 
proposal is made; and (c) as to the shareholder giving the notice and 
the beneficial owner, if any, on whose behalf the nomination or 
proposal is made (i) the name and address of such shareholder, as they 
appear on the Corporation's books, and of such beneficial owner and 
(ii) the class and number of shares of the Corporation which are owned 
beneficially and of record by such shareholder and such beneficial 
owner.
	(3)  Notwithstanding anything in the second sentence of paragraph 
(A) (2) of this Bylaw to the contrary, in the event that the number of 
Directors to be elected to the Board of Directors is increased and the 
public announcement naming all of the nominees for Director or 
specifying the size of the increased Board of Directors is not made by 
the Corporation at least ten days prior to the date by which 
shareholders proposals and nominations must be received by the 
Corporation, a shareholder's notice required by this Bylaw shall also 
be considered timely, but only with respect to nominees for any new 
positions created by such increase, if it shall be delivered to the 
Secretary at the principal executive offices of the Corporation not 
later than the close of business on the tenth day following the day on 
which such public announcement is first made by the Corporation.
	(B) Special Meeting of Shareholders. Only such business shall be 
conducted at a special meeting of shareholders as shall have been brought 
before the meeting pursuant to the Corporation's notice of meeting pursuant to 
Section 5 of these Bylaws.  Nominations of persons for election to the Board 
of Directors may be made at a special meeting of shareholders at which 
Directors are to be elected pursuant to the Corporation's notice of meeting 
(i) by or at the direction of the Board of Directors or (ii) by any 
shareholder of the Corporation who is entitled to vote at the meeting, who 
complies with the notice procedures set forth in this Bylaw and who is a 
shareholder of record at the time such notice is delivered to the Secretary of 
the Corporation.  Nominations by shareholders of persons for election to the 
Board of Directors may be made at such a special meeting of shareholders if a 
shareholder's notice as described in the third sentence of paragraph (A) (2) 
of this Section 3 of the Bylaws shall be delivered to the Secretary at the 
principal executive offices of the Corporation not later than the close of 
business on the later of the seventieth day prior to such special meeting or 
the tenth day following the day on which public announcement is first made of 
the date of the special meeting and of the nominees proposed by the Board of 
Directors to be elected at such meeting.
	(C) General. 
	(1)  Only persons who are nominated in accordance with the 
procedures set forth in this Bylaw shall be eligible to serve as 
Directors and only such business shall be conducted at a meeting of 
shareholders as shall have been brought before the meeting in 
accordance with the procedures set forth in this Bylaw.  Except as 
otherwise provided by the laws of the State of Montana, the Restated 
Articles of Incorporation of the Corporation or these Bylaws, the 
chairman of the meeting shall have the power and duty to determine 
whether a nomination or any business proposed to be brought before the 
meeting was made in accordance with the procedures set forth in this 
Bylaw and, if any proposed nomination or business is not in compliance 
with this Bylaw, to declare that such defective proposal or nomination 
shall be disregarded.
	(2)  For purposes of this Bylaw, "public announcement" shall mean 
disclosure in a press release reported by the Dow Jones News Service, 
Associated Press or comparable national news service or in a document 
publicly filed by the Corporation with the Securities and Exchange 
Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act.
	(3)  Notwithstanding the foregoing provisions of this Bylaw, a 
shareholder shall also comply with all applicable requirements of the 
Exchange Act and the rules and regulations thereunder with respect to 
the matters set forth in this Bylaw.  Nothing in this Bylaw shall be 
deemed to affect any rights of shareholders to request inclusion of 
proposals in the Corporation's proxy statement pursuant to Rule 14a-8 
under the Exchange Act.
	SECTION 4. Call of Special Meetings of Shareholders. Special meetings 
of the shareholders of the Corporation may be held upon the call of the Board 
of Directors, Chairman of the Board, Vice Chairman of the Board, Chief 
Executive Officer, President, or holders of at least ten percent (10%) of the 
number of shares outstanding and entitled to vote thereat, in Butte, Montana. 
 
	SECTION 5.  Notice of Shareholders Meetings. Notice of every meeting of 
shareholders shall be mailed by the Secretary at least ten (10) days before 
the meeting, to each holder of record of shares entitled to vote thereat,  
tothe last known post office address appearing upon the records of the 
Corporation (unless there is provided under the laws of the State of Montana a 
different provision for notice of meeting) provided, however, that if a 
shareholder waives notice thereof in writing before or after the meeting, 
notice of the meeting to such shareholder is unnecessary and that notice to 
employee shareholders may be sent to their work addresses through intercompany 
mail.  
	SECTION 6. Shareholder Meeting Quorum. The holders of a majority of the 
number of shares of the Corporation entitled to vote, present in person or by 
proxy, shall constitute a quorum, but less than a quorum shall have power to 
adjourn any meeting from time to time, or to a day certain.  
	SECTION 7. Shareholder Voting. At every meeting of shareholders, each 
holder of shares entitled to vote thereat shall be entitled to one vote for 
each share held and may vote and otherwise act in person or by proxy.  
	SECTION 8.  List of Shareholders. Not less than two (2) business days 
after notice has been given of a meeting of the shareholders, a full list of 
the holders of shares entitled to vote at such meeting, arranged in 
alphabetical order, with the residence of each and the number of such shares 
held by each, shall be prepared by the Secretary or Officer designated by the 
Board of Directors and filed in the principal office of the Corporation, which 
shall, at all times during the usual hours of business and during the meeting 
or vote, be kept open to the examination of any shareholder.  
	SECTION 9.  Form of Certificates. Share certificates shall be of such 
form and device as the Board of Directors may determine, and shall be signed 
by the Chairman of the Board of Directors, Vice Chairman, Chief Executive 
Officer, President or a Vice President and the Secretary or an Assistant 
Secretary, and sealed with the seal of the Corporation, but where such 
certificates are signed by a transfer agent or an assistant transfer agent and 
a registrar, the signatures of the Chairman of the Board of Directors, Vice 
Chairman of the Board, the Chief Executive Officer, President, Vice President, 
Secretary or Assistant Secretary and the seal of the Corporation may be 
facsimiles.  
	SECTION 10.  Share Transfer. The shares of the Corporation shall be 
transferable or assignable on the books of the Corporation by the holders in 
person or by attorney on the surrender of the certificates therefor.  The 
Board of Directors may appoint one or more transfer agents and registrars of 
the shares.  The Books for the transfer of the shares may be closed for such 
period before and during any meeting of shareholders, the payment of any 
dividend, the allotment of rights or the date when any change or conversion or 
exchange of shares shall go into effect, not to exceed seventy (70) days at 
any one time, as the Board of Directors may from time to time determine.  
	SECTION 11. Directors
	(A) Number and Terms. The affairs of the Corporation shall be managed 
by a Board of  sixteen (16) Directors. 
	(1) The Directors shall be divided into three groups, each as 
nearly equal in number as possible.  Each group of Directors shall 
stand for election upon expiration of their terms.  Directors shall 
hold office for a term of three (3) years or until a successor is duly 
elected and qualified; provided, however, that at the annual meeting of 
shareholders to be held in May 1996, seven (7) Directors shall be 
elected with six Directors serving a term of three (3) years and one 
(1) Director serving a term of two (2) years.
	(2) The number of Directors may be increased or decreased from 
time to time by amendment to these Bylaws duly adopted by the 
Directors, but no increase or decrease shall exceed thirty percent 
(30%) of the number provided for immediately before the change if that 
number was fixed by the shareholders.  No decrease in the number of 
Directors shall have the effect of shortening the term of any incumbent 
Director.  The classification and term of Directors may be changed from 
time to time by amendment to the Bylaws duly adopted by the Directors, 
but no such change shall affect the term of any incumbent director.  
	B. Removal by Shareholders. The shareholders at any meeting, by the 
vote of two-thirds of the number of shares outstanding and entitled to vote 
for the election of Directors, may remove any Director and fill the vacancy.  
If less than the entire Board is to be removed, no Director may be removed if 
the votes cast against  the Director's removal would be sufficient to elect 
the Director if then cumulatively voted at an election of the class of 
Directors of which the Director is a part.  
	C. Vacancies. Vacancies in the Board of Directors may be filled by the 
Board at any meeting at which a quorum is present.  If the Directors remaining 
in office are fewer than a quorum, the vacancy may be filled by the vote of a 
majority of the Directors remaining in office.  Any Director appointed by the 
Board to fill a vacancy created in the Board of Directors by virtue of an 
increase in the number of Directors shall hold office until the next regular 
annual meeting of the shareholders at which time the shareholders shall elect 
a person to fill such office.  
	D. Indemnification. The Company shall indemnify each present or future 
Director and Officer of the Company in the manner provided in Sections 35-1-
451 through 35-1-459, M.C.A.  The foregoing right of indemnification shall not 
exclude or restrict any other rights or actions which any Director or Officer 
may have, and shall be available whether or not the Director or Officer 
continues to hold such office at the time of incurring such expense or 
discharging such liability.  
	SECTION 12. Director Meetings.   Meetings of the Board of Directors 
shall be held at the times fixed by resolution of the Board or upon call of 
the Chairman of the Board, Vice Chairman of the Board, the Chief Executive 
Officer, the President or any two Directors.  The Secretary shall give 
reasonable notice (which need not exceed two days) of all meetings of 
Directors, provided that a meeting may be held without notice immediately 
after the annual election, and notice need not be given of regular meetings 
held at times fixed by resolution of the Board.  Meetings may be held at any 
time without notice if all the Directors are present or if those not present 
waive notice in writing either before or after the meeting.  Notice by mail, 
facsimile or telegraph to the usual business or residence address of the 
Director not less than the time above specified before the meeting shall be 
sufficient. A majority of the Board shall constitute a quorum, but any number 
less than a quorum may adjourn the meeting from time to time, or to a day 
certain.  
	SECTION 13. Designation of Officers. The Board of Directors, as soon as 
may be convenient after the election of Directors in each year, shall elect 
one of their number Chairman of the Board and may elect one of their number as 
Vice Chairman of the Board.  The Board shall also elect a President.  The 
Board shall either designate any one of these Officers as Chief Executive 
Officer of the Corporation, or elect a Chief Executive Officer separately.    
	The Board shall also elect a Secretary, a Treasurer, a Controller, one 
or more Vice Presidents, one or more Assistant Secretaries, one or more 
Assistant Treasurers, one or more Assistant Controllers, and such other 
Officers as they deem proper.  
	Any two or more offices may be held by the same person.  The term of 
office of all Officers shall be until the next election of Directors and until 
their respective successors are chosen and qualified, but any Officer may be 
removed from office and any office may be abolished at any time by the Board 
of Directors.  Vacancies in the offices shall be filled by the Board of 
Directors, save that the Chairman of the Board, the Chief Executive Officer or 
the President may from time to time appoint one or more Assistant Secretaries 
and one or more Assistant Treasurers, or may remove such officers; provided 
that the Board shall be notified of such appointments or removals at the next 
following meeting of the Board.  
	SECTION 14. Duties of Officers. The powers and duties of the Officers 
of the Corporation shall be as follows:  
	A. Chief Executive Officer. The person designated by the Board to be 
the Chief Executive Officer of the Corporation, under the direction of the 
Board of Directors, shall have general authority over all the affairs of the 
Corporation, and over all other Officers, agents and employees of the Company. 
 In the event of the absence or disability of the Chief Executive Officer; a) 
if the Chief Executive Officer is also Chairman of the Board, then the 
provision made for that office shall govern, and b) if the Chief Executive 
Officer is separately elected, then the Chairman of the Board shall perform 
the duties of that office until the absence ceases, the disability is removed 
or the Board of Directors has named a successor.  
	B. Chairman of the Board. The Chairman of the Board shall preside at 
all meetings of the shareholders and at all meetings of the Board of 
Directors, and shall also have authority to call special meetings of the Board 
of Directors, of the Executive Committee, and of any other standing or special 
committee appointed by or upon the authority of the Board of Directors.  The 
Chairman of the Board shall call meetings of the Executive Committee when 
requested by two of its members, and shall do and perform all acts and things 
incident to the position of Chairman.  At the request of the Chairman, in the 
case of absence, or upon a determination of temporary disability of the 
Chairman by the Board of Directors, the duties of that office will be 
performed by the following officers, selected in the following order:  
1) Chief Executive Officer, 2) Vice Chairman of the Board, and 3) President.  
	C. Vice Chairman. A Vice Chairman of the Board shall have such duties 
and authority as may be assigned by the Board of Directors or the Chief 
Executive Officer.  
	D. President. The President shall have such duties and authority as may 
be assigned by the Board of Directors or the Chief Executive Officer.  
	E. Vice President. Each Vice President shall have such authority and 
shall perform such duties as shall from time to time be assigned by the Board 
of Directors or the Chief Executive Officer.  
	F. Treasurer. The Treasurer shall have custody of all moneys and funds 
of the Corporation, and shall cause to be kept full and accurate records of 
receipts and disbursements of the Corporation.  The Treasurer shall deposit 
all moneys and other valuables of the Corporation in the name and to the 
credit of the Corporation in such depositaries as may be designated by the 
Board of Directors, and shall disburse such funds of the Corporation as have 
been duly approved for disbursement. The Treasurer shall perform such other 
duties as may from time to time be prescribed by the Board of Directors or the 
Chief Executive Officer.  
	G. Assistant Treasurer. The Assistant Treasurers shall perform such 
duties as may be assigned from time to time by the Chief Executive Officer or 
by the Treasurer.  In the absence or disability of the Treasurer, the duties 
of that office shall be performed by the Assistant Treasurer designated by the 
Chief Executive Officer.  
	H. Controller. The Controller shall be the Administrative Officer in 
charge of accounting functions of the Corporation.  The Controller shall 
perform such other duties as may from time to time be prescribed by the Board 
of Directors, or by the Chief Executive Officer.  
	I. Assistant Controller. The Assistant Controllers shall perform such 
duties as may be assigned from time to time by the Chief Executive Officer or 
by the Controller.  In the absence or disability of the Controller, the duties 
of that office shall be performed by the Assistant Controller designated by 
the Chief Executive Officer.  
	J. Secretary. The Secretary shall attend all meetings of the Board of 
Directors and of the Executive Committee and all meetings of the shareholders, 
and shall record the minutes of all proceedings in books to be kept for that 
purpose.  The Secretary shall be responsible for maintaining a proper share 
register and stock transfer books for all classes of shares issued by the 
Corporation and shall give, or cause to be given, all notices required either 
by law or by the Bylaws.  The Secretary shall keep the seal of the Corporation 
in safe custody and shall affix the seal of the Corporation to any instrument 
requiring it and shall attest the same.  The Secretary shall have such other 
duties as may be prescribed by the Board of Directors or the Chief Executive 
Officer.  
	K. Assistant Secretary. The Assistant Secretaries shall perform such 
duties as may be assigned from time to time by the Chief Executive Officer or 
by the Secretary.  In the absence or disability of the Secretary, the duties 
of that office shall be performed by the Assistant Secretary designated by the 
Chief Executive Officer.  
	L. Other. Such other Officers as may from time to time be appointed by 
the Board of Directors shall have such duties and authority as may be assigned 
to them from time to time by the Board or by the Chief Executive Officer.  
	SECTION 15. Board Committees. 
	A. Executive Committee. The Board of Directors, as soon as may be 
convenient after the election of Directors in each year, may by a resolution 
passed by a majority of the whole Board appoint three or more of their number 
to constitute an Executive Committee which, subject to the provisions of the 
charter of the Corporation and of the Bylaws, shall have and may exercise 
during the intervals between the meetings of the Board all of the powers 
vested in the Board in the management of the business, affairs and property of 
the Corporation, except as limited by these Bylaws, the Articles of 
Incorporation, the laws of the State of Montana, or a resolution of the Board 
of Directors.  The Board shall have the power at any time to change the 
membership of such Committee and to fill vacancies in it.  The Executive 
Committee may make rules for the conduct of its business and may appoint such 
committees and assistants as it may deem necessary.  A majority of the members 
of said Committee shall constitute a quorum.  
	B. Other Committees. The Board of Directors, by resolution adopted by a 
majority of the full Board of Directors, may designate, from time to time, 
from among its members one or more committees, in addition to the Executive 
Committee, each of which, to the extent provided by resolution adopted by a 
majority of the full Board of Directors, shall have and may exercise all of 
the authority of the Board of Directors, except to the extent that the 
authority of any such committee expressly shall be limited by the provisions 
of these Bylaws, of the Articles of Incorporation or of the laws of the State 
of Montana.  
	SECTION 16. Miscellaneous Board Authority. The Board of Directors is 
authorized:  
	(A) Banking.	To select such depositaries as they shall deem proper for 
the funds of the Corporation.  All checks, drafts or orders for the payment of 
money against such deposited funds and all notes and acceptances shall be 
signed and countersigned by persons to be specified by the Board of Directors 
or the Executive Committee.  
	(B) Director Compensation.		To authorize the payment of 
compensation to the Directors for services to the Corporation, including fees 
for attendance at meetings of the Board of Directors and of the Executive 
Committee and all other committees and to determine the amount or basis of 
such compensation and fees;
	(C) Record Dates.	To fix (in lieu of closing the stock transfer books, 
as authorized by Section 10) in advance a date, not exceeding seventy (70) 
days before and during any meetings of shareholders, the payment of any 
dividend, the allotment of rights, or the date when any change or conversion 
or exchange of shares shall go into effect, as a record date for the 
determination of the shareholders entitled to notice of and to vote at any 
such meeting, or entitled to receive payment of any such dividend, or any such 
allotment of rights, or exercise such rights, as the case may be, 
notwithstanding any transfer of any shares on the books of the Corporation 
after any such record date fixed as aforesaid.  
	SECTION 17. Corporate Seal. The corporate seal of the corporation shall 
be in such form as the Board of Directors shall prescribe.  
	SECTION 18. Amendment of Bylaws. Either the Board of Directors or the 
shareholders entitled to vote for the election of Directors may alter or amend 
these Bylaws at any meeting duly held as above provided, the notice of which 
includes notice of the proposed amendment.  Any such alteration or amendment 
shall be made in accordance with Section 35-1-234, M.C.A.  
	SECTION 19. Disposition of Assets.
	 A. Disposition in Ordinary Course of Business. The Board of Directors 
shall have authority to sell, lease, exchange or otherwise dispose of, the 
whole or any part of the property and assets of every kind and description of 
the Corporation in the ordinary and usual course of business, for property, 
cash, or for the whole or any part of the capital stock of any other corpora-
tion, whether domestic or foreign, or otherwise, as the Board may determine, 
and upon such terms and conditions as the Board may determine.  Said Board 
shall have plenary powers in carrying out the authority herein granted.  
	B. Mortgage or Pledge. The Board may mortgage or pledge any or all the 
property and assets of the Corporation, whether or not in the usual and 
regular course of business, upon such terms and conditions, and for such 
consideration, which may consist in whole or in part of money or property, 
real or personal, including shares of any other corporation, domestic or 
foreign, as shall be authorized by the Board of Directors.  
	C. Disposition of All or Substantially All Assets. The Board may, by 
resolution, recommend the sale, lease, exchange or other disposition of all or 
substantially all the property and assets of the Corporation, and direct the 
submission of the resolution to a vote of the shareholders at either a regular 
or special meeting.  Written notice shall be given each shareholder, whether 
or not entitled to vote at such meeting, at least thirty (30) days before such 
meeting, and shall state that the purpose, or one of the purposes, is to 
consider the proposed sale, lease, exchange, or other disposition.  At such 
meeting, the affirmative vote of holders of two-thirds (2/3) of the shares 
entitled to vote thereat is required to authorize such sale, lease, exchange 
or other disposition.  Nevertheless, the Board may thereafter abandon such 
sale, lease, exchange or other disposition without further shareholder action. 
 
	SECTION 20. Office of the Corporation. There is an administrative 
organization within the corporation called the Office of the Corporation, 
consisting of such persons as the Chief Executive Officer may designate.  The 
function of the Office of the Corporation is to provide supervision, policy 
direction and corporate services for all branches of the business of the 
Company and its subsidiaries.
	SECTION 21. Corporate Acquisition of its Own Shares.
	The Company may acquire its own shares, and shares so acquired shall 
constitute authorized and issued shares.