The Norfolk weekly news-journal., 1908-06-26
J. [. MEAD CYCLE COMPANY, CHICAGO, MI.

members of the company; and when
not present in person. may delegate
his authority to vote by printed and
written proxy given to a member of
the company Such proxy to be valid
must state the number, the date and
the amount of the policy held by the
person giving it, and be filed with the
company at least fifteen days before
the meeting next following its date
of issue.
Sec. ,. The annual meetings of the |
members shall be held at the home
office of the company, at one o'clock
p. m. on the second Tuesday in Jan
uary in each year Special meetings
shall be held at the same place when
called by the executive committee, by
giving at least ten days written notice
thereof stating the purpose for which
such special meeting is called.
Sec. 8. At each annual meeting the
members of the company shall elect
a board of seven directors; who, eX-
cept the medical director shall be
members of the company, to serve
for one year or until their Successors
are elected and qualify. All the cor
pOrato powers Of the company shall
vest in the board of directors who
shall also have power TO fiji vacancies
caused by the death or resignation of
any director or officer The medical
director may, or may not be a mem
Der of the company.
Sec f. The board of directors shall
provide in the bylaws the number
of persons required TO be present in
person or by proxy, at any annual or
special meeting of the members to|
constitute a quorum.
Sec. >. At any annual or special
meeting of the members of the com
pany, these articles of incorporation
may be amended, changed or altered
by an affirmative vote of a majority
of the number of members required
to be present in person or by proxy
to constitute a quorum.
ARTICLE V.
Board of Directors.
Section /. The incOrporators of the
company shall be its first board of di-
rectOrs, to serve until the first an.
nual meeting of the members and
until their successors are elected and
qualify.
Sec. 9. The regular annual meeting
of the board of directors shall be held
Immediately after the annual meet
ing of the members, when by a ma
jority vote the board of directors
shall elect officers for the ensuing
year. The officers shall be a presi-
dent, vice president, a treasurer, a
secretary and a medical director, who
shall hold Office for one year or until
their successors are elected and shall
qualify. One person may hold the
office of treasurer and secretary.
Sec. 8. The board of directors
shall adopt, amend, alter or change
the bylaws, create offices and elect
officers not designated in Section q
of this article, when for the interest
of the company so to do, and to do
all things necessary for the successful
management of the company Five
members of the board of directors
shall constitute a quorum for the
transaction of business by it, but an
affirmative vote of four members of
the board of directors shall be re-
CURED to carry any motion or to elect
any officer.
Sec. 4. The board of directors shall
elect an executive committee of
'AiNC Va us HltulDtlS WulCu SHdll nave
power to administer the affairs of
the company when the board of d.
rectors is not in session. The board
of directors shall also elect a finance
committee and an auditing committee
of three members each, whose duties
shall be defined in the bylaws.
ARTICLE VI.
Investments, Loans and Deposits.
Section l. All loans shall be made
in the name of the company. No loan
shall be made to any director or Off
Ger of the company, nor shall any d.
rector or officer of the company prof
it by or receive any commission or
valuable consideration on any sale
Of securities to it.
Sec. 2. Loans may be made on I'M
incumbered farms secured by first
mortage thereon, provided such farms
are improved, productive and situated
in well settled and well developed
sections, and that the amount loaned
thereon shall not exceed forty per
cent of the appraised value thereof
exclusive of Improvements. Bonds
or warrants may be bought for In
vestment of the United States, or
state, county, city, town or school
district, when such bonds or warrants
bear interest and are issued accord.
ing to law, Also real estate may be
owned by the company when required
for its home Office building including
rooms therein for rental.
Tho ha