The DeSmet leader. (DeSmet, Kingsbury Co., Dakota [S.D.]) 1883-1891, 1886-03-20
ARTICLE XNl.


be shareholders The Directors shall
be elected each year, at the annual
meeting Of the Association, to be held
on the first Monday of May in each
year. Each director shall be elected by
ballot, and each member Of this AssO-
citation shall be entitled to one vote for
each share Of stock OF the Association
held by him. at such annual election of
Directors.
The acting Board Of Directors shall
cause notice to he given Of such annual
Meeting and election, which notice
shalt fix the hour and place Of such
meeting and election, and shall be
published III some weekly newspaper
in De Smet, OAK. for two successive
weeks prior TO scch annual meeting
and election. Two cle-ks and three
judges of such election shai, ne elected
by the members present at such meet
ing. which said clerks and judges ct
election shall be stockholders Of the
Association, and shall qualify accord
ing to law.
ARTICLE XVII.
Immediately after the election of
directors they shall meet and elect from
among their number President. Vice
President. Secretary, and Treasurer.
whose duties, together With the five
othey directors shalt be to take entire
charge of tire finances, and generally
direct the affairs OF the Association.
ARTICLE NNIII.
The President shall preside at all
meetings Of the Association and Direct
Urv. preserve order. sign all orders on
The Treasurer. and cali extra meetings.
! In his absence the Vice President shall
discharge the duties Of the presidents
office. Neither the President, Vice
President. CT any other officer Of this
Association allroceiye compensation.
ARTICLE NIX.
| The Treasurer shall receive and re-
ceipt for all moneys paid to the Asso-
citation, pay all orders Of the Directory
which shall be signed by The President
and attested by the Secretary. He shall
give the Association bond in the penal
sum of $1,000, With not less than three
sureties, which bond shall be approved
in writing by the Directory, conditioned
for the faithful discharge Of the duties
OF his office. He shall hold for safe
keeping all moneys, securities and
papers of whatever kind belonging to
| the Association, except those needed
by the Secretary, and shall turn the
same over to his successor within five
days after he shall have qualified and
entered into the duties Of his office.
ARTICLE Xxx.
The Secretary shall perform all the
work in writing of the Association
shall keep correct minutes Of all meet
ihgs Of the Association and the Direct
ors. and SUBMIT the same to.the next
meeting. He shall keep a correct ac
count with every shareholder Of the
| Association relative to each particular
share issued. He shall report the
financial condition Of the Association
at each annual meeting, and at such
other meetings as the Directory may
order. He shall give the Association 9
bond in the penal sum Of Sl,000, with
not less than three surctieS. 10 be ap
proved in writing by the Directors.
ARTICLE XXI.
ANY stockholder wishing to withdraw
from this Association shall have power
To 20 SO by giving thirty days notice &
the Association. when he shall hs
entitled to receive the amount paid
in bY him aud SO per cent Of the net
profits OF each share held by him
accrued during the time he has held
sgch stock, less al fines and other
charges; provided. that at no slime shal
more than one-half the funds in Tho
treasury be applicable to the demands
of withdrawing stockholders, without
the consent Of the directors. and that
no stockholder shall be entitled 20 with.
draw whose stock is held in pledge OF
security.
ARTICLE xxi.
Upon the death os any stockholdel
| lis legal representatives shall be en-
titled to receive the full amount paid il
by him and legal interest thereon, first
deductiug all charges that may be due
ON The stock No Gnes shall bo charged
/ to a deceased members account from
and after lis dcceaSe. unless the lega
representative Of such deCedent rs,
same Tie future payments on the stock
ARTICLE XXIIL
n borrower may repay n loan at any
time, by payment to the corporation OF
the principal sum borrowed, together
with all dues, interest, premiums. fines
and other charges which may be due
and unpaid provided, that in case the
borrower has made payment in full OF
the premium bid for such loan, the
Association shall refund to him at the
time Of repayment of his loan such a
part OF said premium as the probable
unexpired time of loan bears to the
whole time, which unexpired time is tC
be estimated by the Directory.
ABTICLE XXIV.
These bylaws may be amended OF
repealed and new bylaws adopted il
their place by two-thirds vote of tht
Association. at meeting duly callet
for that purpose, or at any meeting o
the Association, provided two weeks
notice of intention to amend, repeal, O
adopt new bylaws, as the case may be
shall be duly given by publication once
each week for two consecutive week