The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1939-06-01
Thursday, June 1, 1889

anu 6GAllnk VI Vutt0Ep CHOC5Cp lCO
cream and other dairy and farm
products. and the handling, buying
and selling Of such other goods and
commodities and providing such
other services and facilities as are
required by the association and It's
their respective dairy and agricul-
tural enterprises.
Section 3. For such purposes 1t
shall have the power and authority
troll such creameries. cream sta
tions and other facilities as may be
required in the usual conduct Of
such business; to purchase and
hold, lease. mortgage. cucumber,
ss sxchsnEe and such real
property as the business of the as
ISOLATION may require; to issue
bonds or other evidences of indebt-
edness; to join with other cooper
state or national marketing and
service associations and to pur-
chase, acquire and hold stock there
in; and 1t shall also have pow
er and authority. either for itself
or its III Nv and members and pat
and thing necessary and proper to
the conduct of its business or the
accomplishment Of the purposes
set forth herein or permitted by the
ACT uhuer wHich thiS association Is
Incorporated.
section 4. It's principal place of
business shall be in the city of Sank
Centre, county of Stearns, Minne-
sota Other offices for the trans
action of business shall be located
at such places as the board of dir
ectors. may from time to time deter
NINE"
That Article III was amended to
read as follows:
sUUl l. ~ ia
ness or liability to which said as
ISOLATION shall at any time be SUBJ
ject. exclusive of debts due pat
rons for products delivered or for
patronage refunds. shall not ex-
coed twenty-fiv thousand (25.-
That Article v was amended to
read as follows:
Section 1. The government Of
this association and the manage
in a board of seven directors. which
board shall be elected by ballot by
the stockholders for such terms as
the bylaws may prescribe, at the
annual meetings OF the stockhold-
ers.
Section 2. The annual meetings
Of this association shall be held
within the corporate limits OF the
city, village or township in which
it's principa! place OF business is
located, on the IlrSI MoHody III ~
ruary of each year. the exact place
and hour to be determined by the
board Of directors.
section 8. Vacancies in the
board of directors. except in cases
Of removed Alb BY the -, stoc rsmsinirs
members Of the board. the person
or persons so appointed to hold Of
flee until the next annual meeting
of the stockholders and until their
successors have been elected and
That Article vi was amended to
read as follows:
THE officers of this association
shall be q president. one or more
vice-presidents. a secretary ana
nuaIly by and from the directors.
The Offices of secretary and trea-
surer may be combined, and when
so combined, the person filling such
office shall be termed secretary
treasurer"
That Article VIII was amended to
Section /. The amount Of CAPT.
tai stock of said cooperative as.
osciation shall be twelve thousand
divided into twelve hundred (120o)
shares of ten $4,000 dollars each:
and shall be paid at such time and
in such manner as the directors or
this association shall order. but no
share shall be Issued for less than
its par value nor until the same has
been paid for in cash or its equival,
emit. The amount of the capital
stock outstanding shall at no time
be diminished below twenty per
cent Of the amount of the author
'Ae Section 2 2. The ownership of
capital stock in this association by
any Individual stockholder shall
not exceed the par value OF one
thousand l$l,oSO.C0 dollars ataG IS sto oGsv
one vote in the affairs Of the asso;;
citation, and voting by proxy shall
not be permitted. Shares Of stock
shall not be transferable except
with the approyhai .r ana consent diracto Of
not be paid on outstanding or paid
up capital stock of the association
in excess of six per cent per an
mum, which shall be non-cumula-
Section 8. The net income Of the
association except such amounts as
are required to be set aside as a
reserve fund for permanent sur
plus, or may be set aside py vote
distribution among the members, or
patrons, or both, as the case may
be- and as may be prescribed by the
bylaws shall be distributed only
on the basis of patronage"
That q new article to be known
as Article x was added, which
reads as follows:
"The fiscal year Of this associa..
ton shall begin on the first day. OF
January and close on the last day
of December Of each year."
IN WITNESS WHEREOF this
certificate has been signed by the
Sank Lake Cooperative Creamery
Association, of Sank Centre, Mime
sofa, by its president and secretary.
respectively, by authority of it's
board Of directors. under it's cor
porate seal, this 14th day of Feb
ruary. 1889.
SAUK LAKE CO-OPERATlVE
CREAMERY ASSOCIATION
BY Oscar j. Lying
President
Attest Geo. s. Strauss
Secretary
wITNESSETH:
Dave Dubois