Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1886-03-27

stock has tssn issued in accordance with the
provisions OF subdivision hereof, shall cease
TO possess the qualifications required by said
Subdivision 3 he shall fpso foco to the extent to
which he shall so have ceased to possess such
qualifications cease to be or 10 have any right
as a stock holder OF this corporation crceld that
he may transfer his stock 10 any person quail
fed TO be admitted as 4 stakeholder, or may sur
render the same to the corporation, Ina accord
ance with the provisions hereof; prorided
kO5ccueT that the representative of the estate OF
a deceased. lnSOIyent or bankrupt stockE older
may exercise ownership OF the STOCK of such
deceased, insolvent or bankrupt stoakholder, so
long as his estate shall continue to own the
orchard vineyard or vegetable land necessary
TO qualify the original owner to hold such stock:
aud proridetf that persons or firms who are not
fruit-groweIs shall cease to be qualified or eigi-
Bile to hold stock when they cease to be ship
pers of fruit: and prorided further that any stock
holder. while still qualified as such NAV at
any time surrender and deliver to the Secretary
his certificate of stock for cancellation, and the
same shall thereupon be cancelled provided it
Is fully paid, or he then pays it up fully From
the time of such surrender of such stock he
shall no longer be a stockholder in said corpo-
ration. and by such surrender he shall forfeit
whatever he may have paid on such STOCK.
Subdivision >. These bylaws shall be printed
In full on the back Of each certificate.
SECRETARY
Section E. The Secretary shall be the custodian
of the records of the corporation. He shall keep
iiill minutes OF the proceedings ut all meetings
of the stockholders and of the Board of Trlis-
tees. He shall, jointly with the President sign
all certificates of stock, always strictly III accord
ance with Section hereof, regulating stock
issue and transfers, keeping proper books of
record hereof; shall make in due form in ac-
cordance also with Section hereof all trans
iersof stock. whenever required, carefully can
ceiling all retired stock certificates shall keen
an accurate account of the stockholders of the
corporation; shall countersign all contracts
deeds ana leases signed by the President under
the direction OF the Board of Trustees, keeping
an accurate record of the same. He shall collect
OF the subscribers to stock in this corporation
the amounts of the contribution to It's capital
and pay the same over TO the Treasurer of the
corporation. He shall keep accurate accounts
OF the receipts and expenditures of the corpora
ton and full and detailed books of account with
the various individual subscribers He shall
cause TO be prepared and periodically issued to
the Trustees for the exclusive benefit of the cor
poration, reports and estimates of the probable
fruit yield OF each season, and reports on East
erI consumption markets; in fact, establishing
ana maintaining, in the highest possible eff
cheney, department of statistics nnder the
direction of the Board of Trustees. where every
thing calculated to promote the interests of the
stockhoiGers OF tins corporation may be care
July collected digeSted and periodically pub
llshed TO the members of this corporation. lie
shall issue the proper notices of all meetings OF
the stockholders and Board of Trustees He
snail, In all other spects, perform such Other
duties as may be appropriate to the office of Sec
rotary, and be required by the Board of Trustees
TREASURER.
Section I. The Treasurer shall have charge OF
the finances of the corporation: shall receive
from the Secretary. as hereinbefore provided in
Section 9, all avails from disposal of stock and
proceeds from assessments of stock of the cor
poration, depositing the same in u bank or de
pository 10 be selected by the Board of Trustees
| to the credit OF the corporation. thence to be
| drawn only on the order of the President and
| Secretary. He shall collect and receive money.
belonging to the corporation from whatever
source derived; He shall furnish good and
sufficient bond for the safe custody of the same
| on the call OF, and to the satisfaction Of the
| Board of Trustees. He shall also keep proper
| books OF account, at all times open to the in
spectlon of stockholders. and at each annua
meeting of the stockholders he shall submit q
| report, accompanied by proper vouchers of the
corporation for the preceding year. He shall
also make such partial reports M NAV be called
for by the Board of Trustees at any meetings o
the Board or of stockholders, other than the
annual meetings He shall make all necessary
disbursements for the current transaction of the
affairs OF the corporation, i'll accordance with
whatever system the Board of Trustees may
direct
QUORUM, VOTES. PROXIES.
Section s. Stockholders representing a ma
jority of the outstanding stock of the corpora
ton and majority of the Board of Trustees
respectively, shall constitute a quorum for the
transaction of business at all meetings of theil
several bodies. All questions at meetings OF
the Board OF Trustees shall be decided by the
vote of majority of the members present: all
questions before meetings of the stockholders
snail be decided by voting of shares one vote
TO each share of stock actually owned by an
owner OF an equivalent acreage of orchard
and no stock shall be recognized rs entitled to a
vote, unless SO voted by an owner of such equiv
| aIent acreage as before mentioned Voting by
| proxy shall only be allowed when the proxy i
| OF his own right an actual owner of stock in
| the corporation, with an equivalent ownership
| OF orchard and vineyard. The majority of vote:
| cast in accordance with the foregoing Shall de.
| of ba Ctn hpl
ers.
Section 3. Any stockholder of the Association
shall have the right to ship fruit or vegetable.
| grown by himself, and may purchase fruit o.
| vegetables OF any or all stockholders thereof
| aud ship the same in carload lots by the train!
| chartered by the Association, to any point o
| destination and to such consignee rs desired
pT0rtded, satisfactory guarantee is first given t
| the Association for prompt payment OF all cost
| Tor transportation, upon demand; and, prOriieg
| further, that neither said Association, its officer
| nor agents, shall have power to purchase, Of
| sell, on account of said corporation any fruit Of
| Vegetables: but the business of the corporation
| snail be confined exclusively to n shipping anC
commission business. and that of collecting and
| lurnlshlng information Tor its members.
LOCAL CORPORATIONS.
Section 10. Local corporations, associations
cooperative unions or other bodies, cooperative
| or otherwise, which are already organized OF
| which may hereafter be organized which rep
{ resent and which are duly empowered to act foI
community, or for the fruit producers of spe.
cal locality or localities. acting in unison may
subscribe to the capital stock Of this corporation
| as an organization, 10 the extent of the number
OF shares equivalent to the acreage of the indi
| v!dual owners or producers composing such or
! ganiZation, aud such stock subscr ption aud the
issue thereof shall be subject to all the rules
and regulations for stock issue, transfer voting
| etc, heIenbefore prescribed for individual
| stockholders.
AMENDMENT or BYLAWS
Section H. These bylaws may be amended al
any regular annual meeting of the stakeholder.
| by vote of two-thirds of the subscribed stock
| upon which all calls shall have been paid in
pr0uided, that due notice of such amendment
shall have been given at a previous meeting OF
a notice through the mail, by the Secretary, a
least ten ll0l days prior to date OF meeting Shall
| have been addressed to each stockholder of thC
| corporation al his last known residence.