Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1886-01-13

give LIS reCelpb tntTtiOF W tuS 5eCfo-
tary :pay all orders of the board of dl.
reotors if signed by the president and
secretary: he shall keep correct account
of all money received and paid out and
report tho balance on hand at each
regular meeting of the stockholders:
make o detailed statement monthly |
in writing of all monies received and |
paid out and deliver the same to the
secretary on or before the first Monday |
III each month, accompanied with voucn-
ers verifying the same; he shall also
make an annual report to the president
OF receipts aud disbui sements for the |
benefit of the stockholders. He shall
give a boz d of not less than $4,000
which may be increased at the dis |
cretlon of the board of directors, and be |
satisfactory to the same, for the faithful |
performance of his duties aud at the ex- |
plratlon OF his term OF office deliver
| over to his successor In office, all books
papers and money in his possession be- |
longing to the society. He shall receive
tor hls services such compensations as
| shall be agreed upon by the board of
directors,
sec 35 The secretary shall keep q
| correct minute OF the proceedings OF
both the stock holders and the directors
meeting, sign certificates OF stock and
orders on the treasurer for the payment
of money, when ordered by the board of
directors: He shall Issue all notices,
| conduct all correspondence and make
| report OF the condition oil the society
seml-annualiy. He shall notify all
members who have to renew fire insur-
auce policies ten days before the expi-
ration of the same and III case they are
/ nt nl at
u ese by laws he shall renew the same
and charge the cost to the dellquent
member, tor when purpose he Is author
Y q to draw on the treasurer for neces-
sary funds. He shall buy up at the
/ proper time, TOR and IN the name OF the
society all tax certificates Tor general or
local improvement or special taxes upon
any property IN which the society has
any interest. He shall submit his books
Tor inspection at any time the board of
directors think proper. He shall give u
bond satisfactory to the board OF direct
urs of not less than $1,000. He shall re-
ceIvo such compensation as the board OF
directors think proper for his SERVICES.
; Sec SO The attorney shall examine
/ all papers and procure the necessary
7 searches for property offered to the So
clety AS security tor loans and certify
uhe result Of the same. He shall exam
] lue all bonds mortgages and agreements
i and all other papers OF a legal nature
t enter ed into by this society, upon which
he shall give al opinion aud Tor which
: De shall be entitled to receive from the
party liable tor the same fee not ex
} ceedlng the usual one in such cases. Al
r disputes as to the amount OF his charges
z shall be settled by the board of directors
l S,..E nj u,,1 1rp n
G shall be fixed by the board of directors
6 Sec 81 1t shall be the duty of the
Il board of directors to decide as to the
" sutficiency of all property offered as mort
g gage security for loans, and manage gen
il orally the fnacial affairs of the society
Q Five directors when they deem necessary
may call an extra meeting through thu
J. secretary TO give twenty.four hours no
n |tice. ihe board of directors shall con
n stitute a committee for the management
b Of the affairs of the society. No other ii
q provided for by these bylaws. They
If shall have the right to order such dis
r bursements as may be necessary to prop
e erly conduct the affairs of the society.
t. Sec. 3S. Five or more of the board o
e directors shall constitute a quorum 70
K the transaction of business
Sec. 80. All deeds, bonds, leases o
of other instruments required to be exc
u cuted and all satlsfactions and release
le of mortgages and other Indebtedness
TO ord cred by the board of directors, sha
ID be signed, and when necessary, acknowl
Or edged by the president and secretary i
in their official capacity.
Of Sec. 40. Any director who shall b
b. absent from three consecutive meeting
t. without satisfactory excuse, shall pa
rs fine OF $500 and be removed fro1
ID Office at the discretion of the board.
,ir Sec. Al. The president shall eppoir
p three directors to examine the propert
I'd offered as security for loans; they sha
or make personal inspection and give
report in writing containing full info
~ nation, and their report shall be file
ed and presented for reference.
on Sec. AZ. Before the secretary sha
as order final payment on any loan wha
ce ever, except as provided in section IL
he these bylaws, the majority of the con
mittee must report in writing that ii
ed borrower is entitled to settlement.
RS, Sec. 49, At every annual meeting
of the society there shall be elected thr'
members, not of the board of director
who shall annually audit the accounts
lot the society. They shall examine 6
rst books papers, securities, end everythii
en belonging or appertsining to the societ
et- which they shall read TO the society
,ck its annual meeting in each and eve
all year.
ihe Sec. Al The first boord of examine
all shall be appointed by the president II
rds mediately after the adoption OF the
articles, and they shall hold their off
nd. until the next annual election, and sh
ing be Stockholders, not members OF t
he board of directors. Vacancies In
Day auditing committee may be filled by t
board OF directors at any special or n
at ular meeting,
ing Sec. 45. No dues will be receiy
in. after p, m., on the first Monday
3 OF each month if the collections of
Vise month shall have been announced by
d if secretary.
,g Sec. 46. In case of the death. resig
for tion or removal from office of any Oft
the board OF directors shall have po'
eet- to fill the vacancy by electing another
lber serve for the unexpired term.
9 OF Sec. At. In case of the absence
or any officer not otherwise provided
the society shall elect one pro TEN.
Sec. 4S. The meetings of the asso
hfty ton shall be governed by Roberts II
of order when they do not conflict v
ID as these bylaws.
Sec. 49. Nominations for officers
directors shall be made at the reg
very meeting preceding the annual meet
,ular and sufficient number of tic
tors printed with the names of ill candid
shall be provided ior the use of
A,ro nha1I pot h,