The La Jara chronicle., 1909-07-02

by such stockholder. trustee or guardian.
and no more. and such votes may be cast
in person or by proxy: provided. the stock
shall have stood in the name of the party
voting at least one month previous.
SEC. IL. Any stockboldcr trustee or
guardian who shall be in arrears to the
Association shall not be entitled to vote
until such arrearage is paid.
SEC. H. plurality of all the votes cast
shall be sufficient to a choice. provided.
two-thirds of the stock of record shall he
represented at such meeting in person or
by proxy.
SEC. H. Upon the death of stock
holder his her legal representatives
shall be entitled to receive the full amount
paid in by him or her on all shares not
pledged to the Association and legal in
terest thereon. first deducting all charges
that may be due on the same. No fines
shall be charged to deceased members
account from or after his or her deceasc
for ninety days unless the heirs or legal
representatives of such deccdent assume
the future payment of such stock.
ARTICLE VII.
SECTION 1. That in the event of a sur.
plus accommodating in the treasury. which
cannot be profitably loaned, the Directors
shall be authorized to call in such per
centaGe of the non borrowing stock as
shall be necessary to reduce such surplus.
Such per, entage to be prorated among all
non. borrowing shareholders owning over
ten shares, but in no case to reduce below
ten shares the amount of non-boTowinc
stock held by any one person. However
stock called in there shall be no
forfeiture of assessment dues from the
period of last annual distribution EXCEPT
the pro rata share of actual expenses, and
such stock so called in shall receive its pro
rata share of interest earned from last
annual distribution.
SEC. q All the monthly claims of the
Association shall be paid at the Office of
the Secretary prior to six O'Clock p. M, of
the first Monday of each month; and for
each and every delinquency in such paw
nents. n monthly accumulation fee of five
cents on each share for each month shall
be added.
SEC. 3. The Secretary for non-attend-
ance upon the meetings of the Board #
Directors stockholders. shall be fined
one dollar, and for neglecting refusing
to render any statement of the operations
the Corporation, as required by Section
of Article II of the Bylaws, shall be fined
five dollars at the option of the Board of
Directors
ARTICLE VIII.
SECTION /. Amendments to these By
Laws may be proposed at any meeting uf
the Board of Directors. and may then b,.
adopted at anv regular meeting there
after.
SEC. q The President shall appoint :,
Building and Disbursing Committee of
three, whose duty it shall be to disburs,
money ON buildings in course of construC-
on, but in no case shall more than 60 per
cent. of the money borrowed be disbursed
until the final completion and acceptance
of the building by the Board of Directors
at regular meeting. II shall also be their
duty to see that money so disbursed is
paid to parties to whom it Justly belongs.
SEC. 3. AT the regular meeting in De
Cember Tor at an adjourned meeting there
OF the Board of Directors shall appoint q
committee of three Stockholders to appor-
tion the earnings among the stockholders
for the fiscal year ending December 3lst.
as soon as the business of the year can lie
closed up Said apportionnent committee
must submit their report at the annual
meeting of the Board of Directors held on
the last business day of December of said
year.
Which amendments will be presented to
be acted upon at such meeting.
BY order of the Board of Directors:
HORACE c. HALL,
Secretary.
First publication, June H. 1909
Last publication, July 9 1903.