The wageworker. (Lincoln, Neb.) 1904-????, 1907-10-04

and issue. Whenever any transfer
shall be made for collateral security
and not absolutely, the fact shall be
SO expressed in the entry of said
transfer. Provided, that all or any of
the shares of stock subscribed for at
81 prior to the meeting of associates,
for tle organization of this associa-
ton. or at any adjournment thereof,
may, before the issue of stock GER
tificate to any such subscriber, be
transferred by him by an appropriate
instrument of transfer signed by hill
or by his duly authorized attorney.
A copy of such instrument in the
record book of the secretary of the
association, shall constitute record
of the transfer of such stock, ana
such record books are hereby made
the corporation book for all purposes
in the premises. The association
tered holder of any share as the abso-
lutte owner thereof, and accordingly
shall not be bound to recognize any
equitable claim to or interest in, such
share on the part of any other per-
son, whether or not it shall have ex-
press OF other notice thereof, save as
expressly provided by the statutes CT
Nebraska Amy person claiming a.
certificate of stock to be. lost or de-
stroyed shall make affidavit or affirma-
ton of that fact and advertise the
Directors may require, and shall give
the association a bond of indemnity,
in form and with one or more sure
ties satisfactory to the Board of Di-
rectors, in at least double the par
value of such certificate, whereupon
the president, secretary and treasurer
may cause to be issued a new Ger,
tifica.e of the same tenor with the
but always subject to the approval OF
the Board OF Directors
Article lx.-Ststeme1t Of Condition
Sec. l. The Board or Directors shall
pres..t, when called for by the stock
holders, a full and clear statement OF
the business and condition of the as
sociation.
Article x.-Amehdments.
Sec L. The stockholders, by the
affirmative vote of a majority of the
stock issued and outstanding, may al
any regular, or upon notice at any
special meeting, alter or amend this
constitution and bylaws in any man
| ner not contrary to law or to the
stipulation set forth in Sec. 2 of Arti
Gle VII regarding the assessment o.
| stock.
Article xi.-EIections.
/ Sec. l. Each owner of stock shall
| be entitled to vote for the election O.
| the Board of Directors, and shall have
as many votes as he owns shares O.
stock properly recorded upon The
books of the secretary.
! Sec 2. What is commonly known az
minority representation" of the cum
ulate system of voting" shall Obtain
| in all elections of this association
Example: If there are five director.
! to elect and stockhOlder shall owl
five shares of stock. he shall be al
lowed to vote five votes for each o
five candidates, or twelve and one
half votes for any two candidates, o.
twenty-five votes for one candidate
or any ether such multiple of votes
as he may see fit and proper.
Sec. ,. Any stockhOlder may vot'
by proxy provided due notice of Civ
ing such proxy shall be served upo1
the secretary not less than five day.
before election, and further provided
that no one not owning stock in this
association shall act as proxy, no
shall anyone act as a proxy when thu
| stock represented by him as prox.
| when added to the stock owned b.
him shall exceed in amount one thou
| sand shares of the capital stock o
the association.
Sec. A. The stock of an organization
shall be voted by it's secretary or b.
SoHle uleulDeT Ill SOOu StduulHS lueIe
| of who shall have been designated TO
| that purpose by the organization itself
Such representatives shall file will
the secretary five days before thu
election notice that he has been dele
gated by his union for such service.
Sec s. The annual meetings of thi
association shall be held on the frs
Tuesday after the first Monday il
January.
] Sec 6. The election of officers shall
be held on the first Tuesday after th
first Monday in January of each ever
/ year, beginning with 1908.
! Articl- xil.-Directors.
Sec l. The Board of Directors o
this association shall have supervisor.