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

tso apHnal y yne directors ~ the sum Of
aithfullrforman OF his duties.
ARTICLE ".
SIC. l. towERs OF DIRECTORS.
The ard Of directors shall have power.
flfeC: QauthOrtze the president and secretary
to calheetings Of stockholders when they
deem fessary, giving notice thereof in the
Observation-Disclosures provided; and they shall
call mdings OF the stockholders at any time
upon Y written request of stockholders rep
rssentt at least onefourth OF the subscribed
capitatock. Second:To make rules ana regv.
lat10nAot inconsistent with the laws ct the
state 8outh Dakota, or the bylaws OF the
compaF, for the guidance of the officers and
mana&nent OF the affairs of the company.
Thirdly declare dividends out Of the surplus
Rrodtghenever they shall deem it expedient.
Fourtl To incur such indebtedness as they
may dlm necessary, and to authorize the pres
idsnt "a secretary to execute notes or bonds
IN the anne OF the company, for such indebted
ness ness 4ovided. however, that no AGGREGATED in
RISany excese of 100000. The intention
tnefeOi being, that no Indebtedness shall be con
tracted tor or on behalf Of the company except
'Xances upon purchases on account Of merchan-
diss- bought by and delivered to the company.
SEC. 2. DUTIES OF DIRECTORS DEFINED.
First: 10 cause to be kept a complete record OF
their meetings and acts, and also OF the proceed
ings of the Stockholders, and also to present u
full statement at the regular annual meeting OF
the stock-holders, showing in detail the assets
and liabilities Of the company, and generally
the condition of it's affairs, which statement
shall be printed and mailed or delivered by the
secretary to each stakeholder. A similar state
ment shall be presented at any other meeting OF
the stockholders when requested by persons
representing at least One-fOurth Ofthe subscribed
capital stock. Second: To supervise all acts OF
the officers and employees; require the secretary
and treasurer to keep full and accurate BOOKS
and accounts, and to prescribe the form and
mode of keeping such books: Third: To cause
to be iseued to the stockholders, in proportion
to their several interests, certificates OF stock
not to exceed i'll the aggregate, the capital stock
OF said company; provided that no one stock
holder shall own or control to exceed twenty
shares OF said stock.
Sec. 3. OF DIRECTORS TO REMOVE OFF
GERS, AND REQUIREMENTS OF EMPLOYEES.
The board of directors shall have power to
remove any officer Or employee of this company
from such office or employment on account Of
incompetency, ineficiency or wilful neglect or
misconduct. IMMORAL conduct, or other just
cause; and no employee of this company now
employed, or hereafter to be employed. shall he
permitted to engage in the service OF the com
pany Until he has first signed a contract releas-
ing the individual and Joint liability OF the othe,
stockholders Of the company from the payment
of his claim for such service or employment.
ARTICLE v.
Sec. /. PAY OF DIRECTORS.
The members OF the board of directors shat
each receive for their CONDENSATION the sum Of
two dollars each day actually engaged at any O.
the regular or special meetings OF the company
and mileage at the rate OF five cents per mile fol
each mile actually Travelled by the nearest Gus
-tomary route coming to and going from such
meetings.
SEC. 2. SALARIES OF OFFICERS AND EMPLOY.
EES.
The president. secretary, general manager O!
SUPERINTENDENT and the other 6mn1OVanS Of the
company shall receive such compensation FOL
their services as the board OF directors shlll de
termine; provided, however. that to fix suci
salary orcompensation shall require amajorit,
vote of al the members of the board OF direct
ors.
ARTICLE VI.
CONTRACTS OF OFFICIALS.
No contract by any officer Or employee Of thu
company shall be valid without the previous
authorization or subsequent ratification Of thu
board OF directors.
ARTICLE VII.
CERTIFICATES OF STOCK.
Certificates of stock shall be OF such form AM
device as the beard OF directors may direct; AM
such certificate shall be signed by the presiden
and secretary (and in case OF the absense of tn
president, by the vice president) with the sea
of the company affixed; and said certificate
shall express on their face their number, dat
~of issuance. number of shares for which. and tn
person to whom issued. Several shares ma,
be issued to the same person or persons, pro
vided that, in the aggregate. they do not excee'
or persons; and provided further, that no per
son shall have issued to him or her nor be til
owner Of to exceed twenty shares at any on
time.
The certificate book shall contain a margi
ON which shall be entered the lumber. date
number Of shares, aud name or names OF tn
person or persons, expressed In tine cCrrespOr
ding certificates.
ARTICLE VIII.
NOW TO TRANSFER STOCK.
Shares of stock may be transferred at an
time by the holder or holders thereof, or b
attorney legally constituted. or legal represent
alive, to any other member OF this company
but no such transfer shall be valid except bt
tween the parties thereto, until the same is 8
entered upon the books OF the company as t
show the names of the parties, by and to whor
transferred, the number and designation of til
shares, and the date Of the transfer.
Before any such transfer shall be entered upo
the books Of the company the certificate {
stock so transferred shall be surrendered an
cancelled and a new certificate shall be issue
in lieu thereof. Compiled laws, Sec: 2Sl5)
The TRANSFER OF any shares Of stock shall nc
be valid upon which any portion OF the amour
subscribed is unpaid, or the holder OF which
indebted to the company on any account wha
ever.
ARTICLE TX.
BOOKS OPEN TO INSPECTION.
The books and papers in the Office of the Sc
rotary and treasurer, or other officers of tt
company, shall be open to inspection as pr
ARTICLE x.
CORPORATE SEAL.
The seal of TIE company shall be circular
shape, and shall have inscribed upon the euti
ring Of thecircle the words: BLACK Hills Co-ope
alive Co., South Dakota, and upon the lnIt
ring the word: "Seal."
ARTICLE XII.
AMENDMENTS TO Y-LAws.
These bylaws may be repealed or amended
or new bylaws may be adopted. at any annu!
meeting, or at any other meeting OF the stool
holders called for that purpose by the director