The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1886-02-19
BYLAWS
Minnesota Valley Stock Association

ARTICLE l.
This Association sh all h pli an annual meet
ing on the first Tuesday of February I'm each
year at 10 Ocl ok A. NJ, and such special
meetings as shall be appointed by the ussocia
ton or its B mrd of Managers all at suct
places as shall be previously designated on
proper notice by the ard of Managers.
ARTICLE ii.
1t shall be the duty of the President to pre
side at all meetings of the association and OF
the Beard of Managers. and to call special
meetings when requested by the association
or Board OF Managers. He shall approve all
accounts previous to their payment, unless
approved by the Board of Managers and shall
countersign all orders drawn by the Secretary
ARTICLE III.
Tae Treasurer shall receive and keep the
funds of the AssC citation and n correct account
thereof, and disburse the same on the order ut
the Secretary, countersigned by the President
and shall make a full report to the association
at Its annual meeting.
ARTICLE Nv.
The Secretary shall hold his Office at the
pleasure of the Boa I'd of Managers. and shall
under their direction keep Il record of the
proceedings of the Association and of said
Bonrd. and collect and pay over to the Treas.
urer all assessments and all moneys due the
Association from any source. and shall at the
annual meeting make full report of all
monies collected during the year, ard of any
and all delnqnencies either in the payment OF
assessments or other debts or dues, and he
shall have charge of the books and papers and
property of the Association not otherwise pro.
vided for. and shall give eaci stakeholder no.
tice Of the annual meetings at least ten days
before the same are held.
ARTICLE V.
SEC. I. The financial and business concerns
of the Association shall be under the direction
and control of the b. ard of Managers who
shall be elected ut the annual meeting by bal.
lot, each stock holder being entitled to as many
votes as he has shares of stock which Votes
shall be received and counted by two tellers
appointed by the President.
SEC. 2. Within ten days after their election
the Managers shall choose u secretary and also
u keeper for such stock as the Association
may own or keep. Both of whom shall hold
their places at the pleasure of the Board Of
Managers and with snch compensation as said
Beard shall fix, and such Board shall reouire
security from the Treasurer Secretary and
Keeper, for the faithful performance of their
duties and trusts.
ARTICLE VI
Each stakeholder shall have right to the ust,
or service of the stallion or other animal
owned or kept by the association to cover AS
many mares or other animals as he has SHARES
of stock in said Association, but no stock
holder shall be entitled to have the same mare
ur animal covered or served more than three
times in one season, from the first day of
March to the first dav of July shall constitute
the season. No one but Stockholders shall
have the right to the use OF service of said
stallion or other anima,.
ARTICLE VII
Between the list day of July and the LIST day
OF March any stakeholder AT the discretion of
the Board OF Managers m ~ have the use or
service of the stallion owned 10y the Associa-
tion upon the payment of Il charge of twenty
dollars for each mare covered and insured
provided that any stOckhOlier who has not
derived benefit under article OF these by
laws NAV have the sane mare covered once
without charge.
ARTICLE VIII
The Association shall at its annual meeting
make pro rata assessment upon each stock
holder, according to the number OF shares
owned by each, sufficient to pay all debts of
the Association. provided that its revenues
shall not be sufficient TO pay It's legitimate ex-
penses) which shall be due Immediately.
ARTICLE TX.
special meeting shall be called by the
President at the written request oil hfteen
of the stockholders of the Association.
ARTICLE X.
Twenty stockholders shall constitute quor.
um tn do business and n majority OF the Board
of Managers shall constitute quorum there
ARTICLE xI.
After the accumulation Of profits to the
amount of thirty per cent. OF the capital stock
(which shall be set aside as sinking rund),
Then shall be division of the profits In excess
thereof made and paid annually ana pro rata
within thirty days after the amman meeting
ARTICLE XII
These Bylaws may be amended AZ any an,
nuai or special meeting of the ASSOCIATION, OF
which ten days notice has been given ny 'ne
to each stockhoider'