The La Jara chronicle., 1909-07-02
ARTICLE vi.
AN iiNi-E W.
STOCK AND STOCKHOLDERS.

SECTION l. Each member shall be en-
titled to a certificate of stock. designating
the number of his her shares. which
shall be issued in the name and under the
seal of this Association. signed by the
President and attested by the Secretary.
Each certificate of stock shall be transfer
able by assignment in person or by attor-
ney in the presence of the Secretary.
SEC. 2. No transfer of stock shall bind
the Association prior to entry upon its
books; nor shall such entry be made for
stock in arrears; nor in any case during
the last ten days preceding the annual
meeting in December.
SEC. 3 Transfers of stock for deceased
members or to the Association shall be
free; for all other transfers fee of twenty
five cents per share shall be paid
SEC. 4. All withdrawn stock, and also
all stock which has maturcd and been
redeemed by the Association, shall become
it's property. and may by order of the
Board be re-issued.
SEC. 5. Any stakeholder who is not in
debted to the Association for money
loaned. may withdraw from the Associn-
ton by giving one months notice to the
Board of Directors. at any regular monthly
meeting. when he or she shall be entitled
to receive the amount of monthly dues
actually paid i'll on his or her shares, first
deducting all fines and charges and all
assessment dues paid subsequent to the
last annual distribution; provided. that at
no time shall more than one-half of the
funds in the treasury of the Association be
applicable to the demands of withdrawing
stockholders, without the consent of a
majority of the Board of Directors. Any
stakeholder withdrawing from the Asso-
citation aforesaid shall receive the
amount of dues paid by him or her. less all
fines and charges, and all assessment
dues paid subsequent to the last annual
distribution.
SEC. g. The membership of a withdraw
ing stockholder ceases with the date on
which his notice of withdrawal is filed
with the Secretary.
SEC. Z. Unpledged matured stock shall
be redeemed in the order in which it may
he filed with the Secretary for this purpose,
and shall prior to such redemption bear
not less than six per cent. interest: but no
matured stock shall share in any subse-
quent profits. nor shall more than one-half
of each months current income be liable
for redemption purposes without the con-
sent of a majority of the Board of Direct
orS.
SEC. s. Stock entered by due notice for
withdrawal shall be paid off in the order of
such entry; provided. that not more than
one-half of the funds in the treasury shall
be so applied without the formal consent
ef the Board.
SEC. All persons paying six months
dues or over in advance to the Association
shall be entitled to receive interest at the
rate of three per cent. per annum for
money SO paid; provided. that in the
opinion of the majority of the whole Board
of Directors the money so advanced would
be II benefit to the Association; but on no
condition will payments be received
stock for a period extending beyond the
end of the fiscal year.
SEC. 10. All elections shall be by ballot
and each stockholder, trustee or guardian.
shall be entitled to one vote in his or her
own right. for each share of stock owned