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<br />'" <br /> <br />BY-LAWS <br />OF THE <br />PEOPLES DITCH COMPANY <br /> <br />All By-Laws of the Peoples Ditch Company heretofore adopted are hereby <br />repeated, but the repeal of said by-laws shall not be held to effect any right, <br />obligation, or duty arising under or imposed by them before this date, and any right, <br />obligation or duty imposed by or arising under said by-laws shall be enforced <br />thereunder. <br /> <br />SECTION I <br />ANNUAL MEETING <br /> <br />1, The meeting of the stockholders for the election of a Board of Trustees shall be <br />at a place to be determined by the Board of Trustees in Logan County, <br />Colorado, <br />2, The Board of Trustees shall be elected annually in January at the annual <br />stockholder meeting and the members shall hold office for one year or until <br />their successor shall have been elected and qualified. <br />3, Notice of the time, date, and location of the annual stockholders' meeting or any <br />special stockholders' meeting shall be given to each stockholder by mail or <br />personal service at least thirty (30) days prior to the date set for such meeting, <br /> <br />SECTION 2 <br />OFFICERS <br /> <br />1, The Officers of the Peoples Ditch Company shall consist of a President, <br />Treasurer, Secretary, General Superintendent, and a Board of Trustees <br />composed of three stockholders, The Officers shall serve for a term for a term <br />of one year or until their successors are elected and qualified, <br />2, The Trustees shall elect one of their number President, one Treasurer and one <br />General Superintendent. <br />3. The Board of Trustees Shall elect some competent stockholder, Secretary of the <br />company, <br />4, The Officers and agents of the company shall be entitled to receive such <br />reasonable compensation for the services they shall tender the company as shall <br /> <br />.,. <br />