Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989, 1913-04-04
xEw COOPERATIVE LAW

and carrying on OIL eo-operatiVe as
: 4 enacted by the Legislature of
me state of Washington:
section /. Cooperative Associa-
,,..s who May Organize - Pur-
poses.
- five. may associate themselves
ro.her as cooperative associa-
Ian society, company or exchange,
!. the transaction of any lawful
sas,ness on the cooperative plan.
ror the purpose of this act the words
\ ! ..sociation,'' company" "ex-
.Aonee.'' society" or union" shall
n construed the same.
Sec. 2. Articles-Contents.
livery association formed under
,hs act shall prepare articles of as
ISOLATION in writing, in which shall
be set forth;
+ The name of the association.
2. The purpose for which it was
formed
q It's principal place of business.
The term for which it is to
/ exist which shall not exceed SO years.
s. The amount of capital stock,
the number Of shares and the par
value of each share.
I Sec. 3. Articles - Verification-
Filing-When Legally Organized.
The original articles of associa-
| lions organized under this act or a
l true copy thereof verified to be such
by the affidavits of two of the sign
ers thereof, shall be filed with the
| secretary Of state. Whenever a GER
| titled copy of the same accom- panied
by certificate of the secretary of
state showing that the same has been
/ filed in his office, is filed with the
county auditor of the county in which
| Is located the principal place of bust
ness of said association, the said as
| ISOLATION shall be deemed to be legal
| ly organized.
Sec. A. Filing Fees.
For filing articles of association
organized under this act there shall
be paid to the secretary of state the
sum Of $25 and for the filing of an
/ amendment of such articles there
shall be paid the sum of $40. For
recording such articles of association
| or an amendment thereto, the coun-
ty auditor shall charge the sum of
| Is cents for each 100 words there
Of, and Is cents for filing and in
dexing the same.
\ Sec. 5. Trustees --- Election-Du-
| Ties Election of Officers.
Every such association shall be
managed by board of not less than
h three trustees. The trustees shall
De elected by and from the stock
nclders of the association at such
time and for such term of office as
me bylaws may prescribe, and shall
Aold office during the term for which
they were elected and until their
successors are elected and qualified;
Out majority of the stockholders
snail have the power at any regular
VI special meeting, legally called for
uat purpose, to remove any trus-
'ee or officer for cause, and fill the
vacancy. The officers of every such
association shall be a president, one
Vt more vice presidents, a secretary
aau treasurer, who shall be elected
annually by the trustees. Each of
saia OFFICERS must be a member of
lle ASSOCIATION. All elections shall
be by ballot.
oec' b. Amendments-How Adopt
ed-Recordlng.
me articles Of the association may
" amended by majority vote of
4e stockholders at any regular
'"cknoiders meeting or at any spe-
val stockholders meeting called for
.ua1 purpose, on twenty days writ
IN notice being given to the stock
lOlaers. Said power to amend shall
include the power to increase or di-
I'lish the amount of capital stock
Aaa the number of shares: Pro-
'ueu' The amount of the capital
SUCK shall not be diminished below
~ amount of the paid up capital
LUX at the time such amendment
a "Uopted. Within thirty days after
a. auoption of an amendment to
i. arucles of association, the asso-
SUN shall cause a copy of such
uenQment adopted to be recorded
,ue OFFICE of the secretary of state
au OF the county auditor of the
s0uaty where its principal place of
BUSINESS ls located.
oec' Z. Business Authorized to Be
fined. ''"e'' 10
a., an association created under this