The La Jara chronicle., 1909-06-11

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. II. Any stockholder. trustee or
guardian who shall be in arrears to the
Association shall not be entitled to vote
until such arrearage is paid.
SEC. II. A plurality of all the votes cast
shall be sufficient to choice; provided,
two-thirds of the stock of record shall he
represented at such meeting in person or
by proxy.
SEC. I3. Upon the death of n stock
holder his or her legal representatives
shall he 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 dcceasc
for ninety days unless the heirs or legal
representatives of such decedent assume
the future payment of such stock.
ARTICLE VII.
SECTION ]. That in the event Of "A sur
plus accunulnting in the treasury, which
cannot be profitably loaned, the Directors
shall be authorized to call in such per
ccntage of the non-borrowing stock as
shall he necessary to reduce such surplus.
Such perC cntage 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-borrowinp
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 pr"
rata share of interest earned from last
annual distribution.
SEC. .. All the monthly claims of the
Association shall be paid at the office "f
the Secretary prior to six o'clock u. M, of
the first Monday of each month; and for
each and every delinquency in such pay
mcnts, u monthly accumulation fee of fiv"
cents on each share for each month shall
he added.
SEC. 3. The Secretary for non-attend-
anCe upon the meetings of the Board of
Directors or Stockholders, shall he fined
one dollar. and for ncgleCting or refusing
to render any statement of the operations
the Corporation, required by Section
of Article Il of the Bylaws. shall he fined
five dollars at the option of the Board "t
Directors.
ARTICLE VIII.
SECTION l. Amendments to these By
Laws may be proposed at any meeting of
the Board of Directors, and may then bc
adopted at anv regular meeting there
after
SEC. .. The President shall appoint
Building and Disbursing Committee oi
three, whose duty it shall be to disburst
money on buildings in course of ConstruC-
tion, but in no case shall more than 60 per
ccnt.spf the money borrowed be disburscd
until the final completion and acceptance
of the building by the Board of Directors
at "A regular meeting. 1t shall also he their
duty to see that money so disbursed il
paid to parties to whom it Justly belongs.
SEC, b At the regular meeting in De
CcmbcT tor at an adjourned meeting there.
oO the Board Of Directors shall appoint
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 b,
closed up. Said apportionment 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 he presented tu
be acted upon at such meeting
BY order of the Board of Directors:
HORACE c. HALL,
Secretary.
First publication. June II, 1904
Last publication, July 2 1909.