The La Jara chronicle., 1909-06-18
ARTICLI; II.
prrIEs oE orEICERs.

DUTIES OF OFFICERS.
SECTION /. The President shall preside
at meetings OF the Board of Directors and
| also of the stockholders; issue calls tor
special meetings; sign orders for money
| passed by the Board; sign all Conveyances
and other instruments for the Association;
take charge of the bonds of the Secretary
and Treasurer; and perform any other
duties pertaining to his office.
SEC. 2. The Vice President shall act MS
President in the lattcr's absence. and in
the absence of both II chairman shall lie
nnmcd at the meeting.
| SEC. g. The Secretary shall keep n full
and exact record of the proceedings of all
meetings; receive all moneys payable to
| the Association and shall. without delay
/ turn the same over to the Treasurer; re
ceipt for the monthly payments of the
stockholders in their pass books only: re
! port all dcliuuucntS at each monthly meet
| ing; negotiate stock loans subject to the
approval of the President: draw up all pa
pcrS to which the Association is "A party;
conduct the correspondence of the Associn-
tion, and sign it's notices file the Scni.un-
nual reports with the state building and
loan inspector as required by law: submit
at the annual meeting of the Board of hi
rectors, held on the last business day of
the years financial transactions; take
charge Of the corporate seal and of all
books, papers. blanks and stationery not
otherwise provided for; keep an accurate
account of the payments Of each stock
holder; report to the Board any failure on
the part of amy borrower to renew expired
Insurance policies ON property held as Sc
curity on Association loans or to pay the
taxes ON property so pledged deliver to
his successor, upon demand. all the prop
crty of the Association in his charge: and
perform any other duties prescribed by the
Board. Before entering upon his duties
he shall give such bond as the Board may
direct.
SEC. 4. The Treasurer shall receive all
moneys from the Secretary and give his
receipt therefor. and shall pay all orders of
the Board signed by the President or Vice
President and attcsted by the Secretary;
report monthly to the Board the receipts
and disbursements of the preceding month
and mt the annual meeting of the Board in
December submit n full statement of the
financial transactions of the year: give sat
sfactory bond for the faithful performance
of his duties in an amount not less than
five thousand dollars $500; and at the
expiration of his term of service shall de
liver to his successor, within ten days after
his qualification, all moneys. books and
papers of the Association in his possession
SEC. 5. The Appraisers shall personally
examine all real estate offered as security
for loans; submit their written estimate of
its value. and also of the amount which
may prudently be loaned upon it; and per
form such other duties relating to realty or
its improvements as the Board may re-
quirc. Loans not unanimously approved
by the Appraisers shall be submitted to
the Board for final action.
ARTICLE III.
MEETINGS.
SEC. /. The regular meetings of the Di-
rectors shall be held the first Monday
evening of each month; special meetings
may be called at any time by the Presi-
dent any three Directors. all Directors
having first been personally notified,
written notice of the time and place of such
meeting mailed to them at least twenty
four hours before said meeting is held.
SEC. 2. The annual meeting of the
Board of Directors Of the Association shall
be held on the last business day of Decem-
Der of each year. for the purpose of rcceiv-
ing the annual reports of the auditing and
apportioning committees, and for the pur-
pose of attending to any and all matters re-
lating to the completion of the years busi-
ness.
SEC. J. Absence from three successive
monthly meetings, not due to serious sick
ness or other cNcusnblc causes shall work
forfeiture OF membership in the Board.
and the vacancy thus caused shall be filed
at the next monthly meeting.
SEC. !. The roll shall be called at every
meeting of the Board, presence or absence
thereat being determined by the record
thus made.
SEC. 5. Special meetings of the Board
may proceed as the business in hand de
mands: but the business at the regular
meetings shall. except by u two-thirds
vote. be executed in the following order:
II. Rsll call.
b. Reading the minutes.
{. Reports of officers and committees.
d. Approval of offered securities.
e. Unfinished business.
(. New business.
x. Adjournment.
ARTICLE ".
DUES
SECTION 1. Every subscriber for stock
shall. before receiving his certificate. make
the following payments. F.Erta 4
e AZ.