The Rice belt journal., 1908-07-24

Tuesday OF July, A. ID. 1909, the first
of each meetings to be held on the da.
above named
At every election of officers or meet
ing Of the Stockholders of this cor
poration, each stakeholder shall be
entitled to one vote for each share of
stock standing in his name upon the
books of this corporation. The elec.
tiOn of directors shall be by ballot,
and it shall require a majority of the
stock to be voted in favor of the elec-
tiOn of director to secure his elec-
| ton, After each election of directors
the board of directors thus elected
shall choose from their own number
the officers Of the corporation.
Notice of the annual or special
stockholders meeting shall be given
by sending to each stockholder by
registered mail written or printed
notice of said meeting at least ten
days prior to the date thereof.
Article vi.
The board of directors shall have
full control Of the property of this
corporation and shall conduct man.
age and use the same in the manner in
which the objects of this corporation
may be best carried out, and the pro-
motion of its welfare most certainly
secured.
The board of directors shall have
full power and authority to frame and
adopt such bylaws as in their judg-
ment the business of this corporation
may require.
They shall have power to elect such
other officers and employ such agents,
clerks, servants and other laborers as
they may deem necessary; to fix their
compensation and terms of office with
the right to dismiss them at pleasure;
they shall have the right to fix the
salaries of the various officers herein
provided for and to fill all vacancies
IN the board of directors caused by
death, resignation or otherwise.
Article VII.
The President of this corporation
shall be it's chief executive officer and
Shall preside at all meetings of the
stockholders and board of directors.
and shall perform such other duties as
are usually incumbent upon the Presi-
dent OF a corporation.
The Vice President shall, in the
absence of the President. perform his
duties, and act with the same power
and authority as the President during
such absence or inability.
The Secretary and Treasurer of
this corporation shall each perform
such duties as are usually incumbent
upon officers holding their respective
positions in other corporation.
ANY officer. director, manager or
superintendent of this corporation is
authorized to make any affidavit, or
execute any bond incident or necessary
in any legal proceeding in which this
corporation may be interested.
1t shall require a favorable vote of
three-fourths the capital stock of this
corporation, present or represented at
any regulae or special meeting of the
stockholders of this corporation to
amend this charter, or terminate it's
existence, or to liquidate its affairs;
and in case OF liquidation, they shall
at the same meeting elect from among
their number not to exceed three liuui. !
dators to dispose of the property and
assets OF this corporation, and wind |
up its affairs in accordance with the
resolution appointing them.
Article VIII
Any stockbolder may sell, assign or
transfer his stock in this corporation.
providing thirty days prior notice of
such intention to SELL assign or trans
fer the same be given the company,
and the other stockholders thereof
shall have the first privilege of pur-
chasing same at the price at which
said stock is to be placed on the mar
ket, after which thirty days notice the
said stock may be sold in open mar.
ket.
Article TX.
No stockholder of this corporation
shall ever be held liable or responsible
for the contract or faults thereof. in
any further sum than the unpaid bal
ance due the corporation on the shares
Of stock subscribed for or owned bv
him, nor shall any informality in or.
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