Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1905-03-31
into shares Of one hundred dollars lsloo)

Into shares Of one hundred dollars tslCo)
each.
Bylaws Of the Farmers, Mill and Eleyat.
or Association of Devils Lake, North Da.
kota:
ARTICLEsI.
SECTION 1.-The annual meeting Of the
] stockholders shall be held on the second
! Saturday of July, at 2 O'Clock p. M, when a
board of directors shall be elected for the
term of one year.
| SECTION IE.-Thirty days notice shall be
! given of such meetings of stock holders by
! publishing notice thereof in the local paper
and by circulating notice mailed to each
i shareholder.
! SECTION III.-The directors at the request
OF shareholders representing one third of all
stock told may call q special meeting oil
shareholders, the notice of such special
meeting to contain q statement of the bust
+ ness to come before the meeting.
SECTION Iv.-The president of the board
of directors shall be the presiding officer of
all meetings of the corporation and In addi-
ton to the regular vote shall cast the decid'
shareholder shall have but one vote regard.
less of the number of shares.
SECTION v.-The board of directors shall
hold business meetings on the first Satur
each year at 5 O'clock, p. m. :
SECTION vI.-Special meetings of direct.
ors may be called by the president or any
three OF the board and notice of all such
meetings shall be mailed to each director. II
SECTION VINO business except that
mentioned in call for meeting or notices
shall receive final action at said special
meeting. Three directors shall constitute a
quorum at all meetings of the board and a
majority vote of all members present shall
decide all questions except in transfer OF
grounds and buildings which shall require
ectops The board OF sha have
no power to sell or convey any property be-
longing to this company without two
thirds vote of all the stockholders.
ARTICLE II.
SECTION directors Duties and Powers.
The board of directors shall not meet later
than three days after the annual election
and organize by electing from their own
tary and Treasurer.
SECrl ON II.-said board of directors shall
appoint and fix the salaries or compensation
of all officers, agents and employees Of the
col pOrattOn and have power to fill all vac
ancfes in the board or its officers.
SECTlon lll.-The board of directors shall
at every annual meeting of the shareholders
render full detailed account of the bust
ness and property of the corporation during
the year. They shall also render similar
account at any special meeting of shGrehold-
ers when required SO to do by q majo rity
vote of stock held by stockholders and a
reasonable time given to prepare same.
SECTION Iv.-The board of directors shall
have power to do such acts and adopt such
measures, not inconsistent with the articles
OF incorporation, as they shall deem best
calculated to promote the interests of the
shareholders and to that end shall from
time to time prescribe such rules and regu-
lattons for the management of the business
OF the corporation as they deem expedient.
ARTICLE III.
Section 1-Duties of Officers The president
OF the board shall be the presiding officer at all
meetings or the board and of the corporation.
He shall be ex officio member of all commit
tees; he shall sign, execute and deliver all
deeds of cHnveyance of real estate which the
directors order ext cute d. and shall sign all
certificates of stock of the corporation and per-
form such other duties as the board may di.
rect. IL case of absence or inability to act or
death of the president the vice president shall
discharge the duties of the president until his
return or until his disability is removed or the
vacancy filled.
Section 2-The secretary shall attend all
meetings of the shareholders and of the board
Of directors and shall keep in suitable book
the minutes of such meetings. He shall have
ration. Shall have charge Of and affix the cor
porate seal to all such documents as may re-
quire attestation. Shall issue notices of all
meetings: shall countersign all certificates of
stock and perform all the duties generally Incl
dent to tho Office of secretary. His records
shall at all times be open to the inspection OF
any of the directors or shareholders. No men,
Der or shareholder shall be allowed Ito sen his
share OF stock until after he has offered it for
sale to the company at price not to exceed
the original cost of share. Any share of stock