The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-01-21
board shall constitute quorum for bust

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ness.
ARTICLE v--DUTIEs OF THE poAnD OF
DIRECTORS,
Section /. Tho board of directors shall
have charge of tho general conduct of
the affairs Of the exchange, and shall
enact such rules for its government as
may DO deemed expedient, not incon-
slst with the constitution and bylaws
OF the exchange. They shall control
the election of new members, as herein
provided, and shall have exclusive
management of the finances of tho OK
change.
Sec. 2. Complaints-It shall DO their
duty to examine all charges of miscon-
duct, or complaints of violation of the
rules of the exchange. when made by
member in writing, and when both par
ties shall have had an opportunity to DO
heard in person, to either ccnsure, fine,
suspend or expel the offending member,
as the gravity OF the case may justify;
but no member shall be suspended or
expelled by a vote of less than u me- ior-
ity of tho entire board of directors.
Sec. 3. Notice of Suspension, etc.
Upon the suspension or expulsion of a
member, notice of the Same shall BIO
posted in the rooms of tho exchange,
and tho secretary shall notify all mem
bers thereof in writing.
Sec. 4. Annual Report.--It shall be
tho duty of the board of directors,
through its president, at each annual
meeting OF the members of the
exchange, to make full report of is
proceedings for the past year, and such
recommendation in the interest OF the
exchange US in it's Judgement may be
proper.
ARTICLE YI-DUTIES OF OFFICERS.
Section l. Prcsden TT shall be the
duty of the president to preside at all
meetings of the board and of the cx-
change, to have a general care of tho
interests of the exchange, and to sec
that the several provisions of the consti-
tuition and bylaws are enforced.
Section 9. Vice-Pre sident-In the
absence of the president the vice-pre-
sidcnt shall perform the duties Of tho
president. In tho absence of the pre-
sident and vice-presidcnt Il chairman
pro tom. shall be appointed
Sec. 3. Secretary and Treasurer.-
Tho Secretary and Treasurer shall keep
the minutes of the meetings of the Ex-
change and of the Board, and shall cause
the publication Of all notices as directed
by the president. He shall conduct all
the correspondence Of tho exchange, and
president may direct. He shall receive
all funds belonging or payable to the
exchange and deposit the Same in the
namc or tho Real Estate Exchange of
Virginia." in such bank as the board of
directors may direct. lie shall pay all
bills against the real estate exchange
when certified in writing by two mem
bers of the board to be correct. He
shall have custody of the corporate seal.
lio shall keep an account OF his re-
ceipts and disbursements in n book,
which shall be subject at all times to
examination by any member of the
board Of directors, and at the close of
each year shall render general annual
funds, books, papers. and other property
of tho exchange. He shall give salts
factory bond of-per year.
Sec. 4. All the aforesaid officers shall
serve without compensation, until
otherwise ordered by the exchange, ex-
cept the secretary and treasurer.
ARTICLE vH.-CoMMIssIoNs.
Sec. 1. All matters of commissions
not settled by local exchanges shall be
referred to State exchange for adjust
mcnt.
ARTICLE VIII-AMESDME MIS-.
The constitution may DO amended or
altered at any regular or called meeting
OF tho exchange by n majority vote Of
the stockholders, one months notice of
the proposed change having been given
tho members.