Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1907-01-15
BYLAWS.
j ARTICLE I.
MEMBERS.

er Of this Association by taking at least Of
stock but no person shall be admitted to the priv
%eeges Of the Association unless stakeholder. No
person shall hold more than fifty shares in his own
right. Esss5
sEcr1oN 2. Every stockholder shall pay for each
and every share OF stock of this Association, twenty
five cents admission fee subscribing, and month
lyinstament of fifty cents per share, dues which
dues shall be paid in advance before the second
Monday OF each month.
a SECTION 3. The money paid by stockholders shall
be applied to the payment Of the oldest arrearages OF
dues, interest, premiums fines or other charges due
from such stockholders. %3ss
ii SECTION A. Any member may sell or transfer his
share or shares OF stock, any number Of them, to
any eligible person; the said purchaser have all the
rights and obligations Of the person from whom he
purchases. Said purchase shall make the purchaser
member and every person so purchasing shall pay to
the Association transfer fee of twenty-five cents for
each share transferred. Shares are transferable
only the books Of the Association and in the pres
Of the secretary, who shall certify to such
fer on the back OF the certificate representing said
stock.
OFFICERS AND THEIR DUTIES.
u SECTION 1.-THE officers of this Association shall
be nine directors, who shall be elected annually AT
ter such election the board of directors shall elect
president and vice-president from their number;
secretary, a treasurer and attorney; all of whom
shall serve for the ensuing year and until their
cessors are elected and qualified Only stockholders
areseligible to Office.
SECTION 2. Il shall be the duty Of the president,
or in his absence that of the vice-president pre-
side at all meetings Of this Association and to pre-
order therein. to sign all orders on the treas
urer orthe payment Of money when the said orders
have been authorized by the board Of directors to
appoint the committees provided for in the bylaws
to keep and hold in custody the bonds Of the secre
tary treasurer and attorney and to perform all other
Z duties pertaining to that office.
9fs5S E8 SE SECRETARY.
SECTION 3. It shall be the duty Of the secretary to
keep accurate minutes OF all the proceedings OF the
Association in books kept for that purpose He shall
receive all moneys paid by stockholders and from all
frof1c Tho
ediaely after receiving the same, taking his receipt
therefor He shall issue all notices conduct all cor
respondence make quarterly adjustment Of the ac-
counts Of the Association, sign all orders drawn on
the treasurer and make annual report OF the whole
workings ofthe Association the first day of Janu
a'ary April, July and October He shall keep in his
possession until the proper time for returning the
same, all mortgages and other documents and papers
appertaning to the business Of the Association ex
cept the bonds Of treasurer and secretary He shall
file all mortgages for record in the office OF the regis
ter of deeds of Bureigh county, Immediately after
the execution Of the same His books may be in
spected by any member Of the board of directors at
any time He shall receive for his services not less
than two hundred dollars per annum, and shall give a
surety bond of less than three thousand dollars,
the premium to be paid by the Association. At the
expiration Of his term of office he shall deliver to his
successor soon as the same is installed and has
filed his required bond, all books, papers, moneys,
etc. that may be in his possession belonging to the
Association.
TREASURER.
SECTION 1t shall be the duty Of the treasurer to
receive all PAID ASSOCIATION give
his receipt therefor the secretary and pay all orders
of the board Of directors signed by the president and
attested by the secretary He shall report the state
of the finances at each regular meeting. His bank
and other books wherein kept the accounts Of the
Association shall be open to inspection to the board
Of directors at all times He shall give surety bond
of not less than five thousand dollars for the faithful
performance Of his duty, the. bond premium to be
paid by the Association. He shall make an annual
report Of the finances to the board Of directors, and
shall receive for his not less than fifty dollars
per annum. At the expiration OF his term he shall
deliver to his successor in Office soon the
is installed and has filed his required bond all mon
les books and papers in his possession belonging to
l the Association
. SECTION s. Both the treasurer and secretary
shall appoint deputies IN such cases where
blltin all cases the officers above named shall be
the act OF sponsble for their respective deputies.
E53ass5 ATTORNEY.
SECTION G. The attorney shall examine all title
papers and procure the necessary searches for the
property offered to the Association as security for
the same. He shall prepare all bonds, mortgages,
agreements and all other writings OF legal nature to
be taken given BY the Association in the course Of
its business which shall be approved by him, and
shallbe entitled to receive from the party liable for
the same fee not exceeding seven dollars for each
set Of loan papers; provided that when more than
one abstract Of title is examined upon single loan,
or an unusual Of labor is performed by him in
the case Of any loan, he may charge therefor rea-
sonable additional fee, and all disputes as to the
amount of his charges shall be settled by the board OF
directors He shall also perform all such other du-5
ties as may be required BY the board Of directors.
BOARD OF DIRECTORS.
SECTION z. II shall be the duty Of the board Of
directors to decide as to- the suficiency Of
all property offered as mortgage security for loans,
and manage generally the financial affairs Of the As
sociation They shall have full power and authority
to adopt all rules and regulations not inconsistent
with these bylaws, which be necessary for the
discharge oftheir duties and for the government Of
the Association; and may transact any and all BUSH
ness at special as well as regular meetings. They
shall have right to order such disburse ments as
may be necessary to conduct the business of the AS
ISOLATION 1t shall be the duty Of the board Of direc
tors make an adjustment Of the profits, losses and
expenses at their last regular meeting in each year.,
and shall be the duty Of the secretary to apportion
the same among all the stock each share of stock
being credited with it's due proper ton of the profits
and charged with its due proportion OF losses and ex-
penses for the period.
81 SECTION 8. The president Or three directors.
when they deem necessary may call special meet
ing Of the board through the secretary.
SECTION 8. The board of directors shall have full
power and authority to depose and remove from office