The Parker post., 1916-09-30

u
ceasing to be a stockholder, there
upon Immediately ceases to be a di-
rector, The directors shall be elect
ed from among the stockholders, by
the stockholders at the annual meet
ing Of the stockholders, which shall
be held on the first Tuesday in De-
cemlber in each year in the manner
provided by the bylaws, or as may
be determined at such meeting and
the term of office of each director
shall be for one year thereafter and
until his successor shall be duly
vote of a majority Of the issued
stock at any regular meeting, or at
any special meeting expressly called
for that purpose, notice of the hold
ing and purpose Of which meeting be-
ing duly given to the stockholders.
The number Of directors for the
current or succeeding year shall be
determined within the limits herein
prescribed by the stockholders hold
ing the majority CT issued stock at
any meeting Of stockholders or any
special meeting legally called and
conducted fer that purpose.
Until otherwise determined the
number Of directors shall be five
CD
LIN furtherance and not in limita-
tion Of the power of the Board Of Di-
rectors conferred by law, the said
board is hereby expressly authoriz-
ed and empowered to, by election or
appointment as the case may require,
fill all vacancies that may occur,
either in the Beard of Directors, or
any office Or officer of the Corpora
tlOn for the uneXpired term Of such
director or officer; to fix the time
fo.' declaring and paying dividends
to authorize and cause to be eXecu-
ted, issued and delivered, notes, war
rants, bonds, debentures, stipulatiOns
certificates, stock certificates, agree
lnents, mortgages, deeds and deeds
| rt trust, liens, cOnveyanceS, assign
| Ments. contracts, powers Of attorney,
| appointments, Notifications, acknowl-
tGgments, juStifications affidavits
| re c0gnlzances and any and all kinds
| OF appointments Of agents, attorneys
| and employees and any and all ether
kinds Of instruments in writing wha T.
sCeVer and tic sell, assign, transfer,
g.ant, convey, distribute, deliver or
otherwise dispose Of any or all Of the
property, real or personal, Of the Cor
| poTtI ON, and to acquire in any man
nar Whatsoever any and all kinds of
| property that said beard may deem
proper and advisable fer said Ccrpor-
ation. To elect the officers and EN-
! rloyees and appoint ali necessary
agents, attorneys, servants, en-
ployees and laborers of every
kind for said Corporation and
to fix and determine and
cause to be paid the comlpensa-
tior for services rendered, or to be
rendered, by the directors, officers,
| &ppolntees, attorneys, agents, SER
wants and laborers of the Corpora
tion and to fix and determine demand
collect and receive payment for all
! services rendered by the Corpora
ton for others and the purchase
price of all property of the Corpora
ton sold and disposed Of; to make,
| establish, alter, amend repeal or re
scind all bylaws, rules, regulations
ard orders of the Corporation.
By resolution to appoint two or
more, or other number to constitute
ali executive committee, which com
mittee shall, for the time being, as
provided by said resolution, or in
the bylaws, have and exercise all
the powers which may be lawfully
delegated to it by said board and res
oiution in the management of the
business and affairs and property of
the Corporation and with power
among other powers to authorize the
seal OF the Corporation to be affixed
to all papers or instruments requiring
the same
The officers of this Corporation
shall he President, one Or more
4ce-PreSidentS, Secretary.
Treasurer and such other officers
and assistants as the Board of Direc-
tors may from time to time deter
mine, direct and elect, or appoint.
AEl of said officers shall be elected
Or appointed by THE Board of Direc-
tors at the annual meeting of the
Directors and all of whom shall hold
office for one year and until their
successors are elected and qualified,
unless sooner removed by the board
of directors, which said board is
hereby expressly authorized and en-
powered to do for any reason lit may
deem sufficient, all such elections,
appointments and removals to be con-
Quoted in the manner directed by
said board of directors. Provided that
the same person may by direction
OF the board of directors hold any
two offices, not inconsistent or in
conflict one with the other.
AN acts, elections, appointments
and orders of the board of directors
shall be done and performed by affir-
native vote Of the majority of the
whole board. Amy meeting of said
board, with or without notice, at
which all directors are present, shall
be regular meeting. A majority of
the actual members of said board
shall constitute a quorum for the