The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1895-03-29

t n0.s s,,hscribed capital stock shail be necessary
to 3 choice. In case OF the death or resignation
Of any director the vacancy shall De hlied by
board of directors at q meeting called upon
arch notice as is required for special meetings
Of the board OF directors. Compiled laws Of
South DAKOTA, Sec. 500
SEC. 3: ELIGIBILITY TO OFFICE ~ DIRECTOR.
No person shall be eligible as q director I'M
less he is a bonafde owners OF at least one
share Of capital stock and after the irst cleo
ton must have been a stakeholder for at least
ak months prior to his election AS such dlrec-
tor. Compiled laws sec. 20, 26.
sEc. 4: DIRECTORS TERM OF OFFICE.
The directors shall serve for one year from
the time of their election, and until their sue
cessor in Office are elected and qualified.
ART. 3. POWERS AND DUTIES OF OFFICERS.
The president shall preside at all meetings OF
the directors or stock holders, he shall sign, as
president all certificates of stock and all con
tract and other Instruments in writing which which
hay @ been first approved by the bd ~ alrec..
tors. He shall call the directors td A
ever he deems it necessary, or at ~
request of two directors; ap4s4
subjects subject s1 s6s ss ss5saai f saes'' & 1e gs shs !
fairs of the company in the esS ny or inabilits@{
of the president the vice-president shallpertorn&s
all the duties OF said office.
SEC. 2: POWERS AND DUTIES OF TREASURER.
1t shall be the duty Of the treasurer to re-
cieve and keep safely, at such place or places as
shall be designated by the directors all monies
belong to the compay and to disburse thesame
under the direction of the board of directors.
Upon order signed by the president and score
tary. The books kept by the treasurer shall be
at all times subject to the inspection of the
tors and every three months, or oftener If re
auired, he shall submit to the said board of di-
rectors at their regular Quartealy meetings q
complete itemised statement OF his account
with the proper vouchers for their information
He shall receipt to the secretary for all moIies
received by him. AT each annual meeting, Of
the stock holders he shall submit a complete
statement of his accounts for the past year
with the proper votches for their information.
He shall discharge such other duties pertaining
to his office as shall be prescribed by the board
faithful performance Of the duties OF said office
before entering thersupon, i'll the sum Of five
thousand dollars with two or more sufficient
tors. The board of directors may increase the
amount of said bond from time to time as they
deem it necessary.
SEC. 3. POWERS AND DUTIES OF SECRETARY.
1t shall be the duty of the secretary to keep
q record of the business transaction of this
company, he shall keep u journal OF all meetings
OF the board OF dire ;tors and OF the stock.
holders, with the time aud place Of holding the
same, whether regular or special, and if special
the object. how authorized, and the notice
thereof evening the record must embrace every
act done or ordered to be done. Must state.
who were present and who were absent and ii
requested by any d rector or stock holaer the
time shall be noted whenever he enter the meet.
ing or obtained leave of absense therefrom..
On a similar request the ayes and nays must be
taken on any proposition, aud u record thereof
made. On a similar request a protest of any
stock holder Or director to any action or pro.
posed action must be entered in tull: Com
piled Laws S. D. Sec. 2937.
He shall also keep a stock and transfer book
in which he shall keep a record Of all stock is
sued or transferred and which shall contain the
name Of the stock holders alphabetically ar
ranged and their P. O. addresses, installments;
paid or unpaid a statement of every alternating
l. colo ar FRO n IF 1fnnk yrn1a n, lr+p Lr.>~
and by and to whom and the number of design
nation OF such share or shares. Compiled Laws
8. D. Section 1927. He shall have charge of
said corporation and keep the book of blank
C. rtihcates of stock and fill up and countersign,
all the certificates issued and make the CORES
pondlng entries on the margin Of each b ook on
such issuance. He shall cOunterSign all orders
upon the treasury keep proper account books,
issue che notices aud calls for all meetings of
the directors and stock holders when duly auth
orlzed and discharge such other duties as per-
tain to his office and are or shall be prescribed
by the board OF directors, e shall also keep a
rfcord OF all properties real or personal bought
and sold by the corporation with description of
the Same aud pl Z paid or received. The Sec
rotary shall give bond in the sum of 81 900
conditioned for the faithful performance of Ais
duties as secretary SAID bond to be approved
by the board Of directors.
SEC 4. POWERS AND DUTIES OF GENERAL MAN
AGER.
1t shall be tie duty OF the general manager or
superintendent: First: to take barge of all the
pro perty belonging to the company; or such
part thereof as shall be designated by the board
OF directors; and to control and direct such la.
Dor and management peeatining to the inter
ests, business objects and operations of said
company. as said board Of directors shall des.
lgnate and direct. Second: To make Quarterly
returns to the directors Of all PERSONS in the
employ OF the company; and q statement of all
che expenditures, attending the same with the
necessary vouchers, and a general report of the.
progress and condition Of such labor, worK,
management, business or operations as is being
carried on by or on account OF the comwany..
Ihlrd: 10 give orders upon the treasurer on:
account OF such WORK and labor and employees
hlre and other necessary expenditures in the.
carrying on OF the business OF the company "a
relates directly to the department of general
manager. and not otherwise limited by these.
bylaws, or restricted by the board of directors.
which orders shall be paid by the said treasurer.
AFTER the same has been duly approved by the.
president and secretary,
ne Snail have no power to sign notes or con
tracts Tor the company: neither shall he have
power TO lncnr any Indebtedness, unless SO
specially authorised by the board Of directors.
transmitted to him in writing by the secretary
fourtH. Said manager shall deposit, with the
treasurer daily, allmonies coming into his hands
or possession from or through the business OF
sald company, and shall take vouchers there
Tor Fifth: Said manager shall perform such