PROJ02105

• Contract/PO #: FS0065FX
• Contractor Name: Greeley and Loveland Irrigation Company
• Contract Type: Loan
• Water District: 0
• County: Larimer
• Loan Projects - Doc Type: Feasibility Study

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ARTICLE V.

FUNDS OF THE CORPORATION

All money of the corporation, or under its charge, shall be
deposited in a bank to the credit of the corporation by its corporate
name.

ARTICLE VI.
STOCK CERTIFICATES AND TRANSFERS THEREOF

Section 1. Issuin~ and Transferring of Stock.

Certificates of the capital stock of the corporation shall
be numbered and registered as they are issued and shall exhibit the
number of shares and shall be signed by the President and counter-
signed or attested by the Secretary, shall bear the corporate seal;
and the total of shares represented by outstanding certificates shall
never exceed the authorized capital of the' corporation. Transfers of
stock shall be made only on the books of the corporation in the
presence of the Secretary or President by the holder, either in person
or by an attorney-in-fact or by a legal representative, who shall sign
the transfer book and surrender the certificate for cancellation,
which shall be cancelled before a new. certificate shall be issued in
lieu thereof, and the surrendered certificate shall be kept on file .
in the Secretary's office. Provided, however, where a certificate of
stock has been lost or destroyed, the Board of Directors may order the
issue of a new certificate therefor upon satisfactory proof by affidavit
or otherwise of such loss or destruction by the record owner of such
certificate or other person having knowledge thereof and upon giving
of a bond with sufficient surety to .indemnify and protect this Company
or any person injured by the issue of such new certificate from any
liability or expense which it or they may incur by reason of the
original certificate remaining outstanding; the issue of such new
certificate shall be without cost or expense to this Company, and the
payment of reasonable costs and counsel fees incurred may be required
by this Company. Provided, further, that the procedure for the issue
of new certificates as is now or may hereafter be provided under and
by virtue of the Laws of the State of Colorado may be availed of at
any time. The mere possession of a certificate of stock as between
the corporation and the holder shall not be regarded as vesting any
ownerShip of the same in any person other than the registered owner
until transfer thereof is duly made on the books of the corporation;
and no transfer of stock shall be made. or shall be valid until all
assessments against the same shall have been fully paid. No stock
shall be issued for a fraction less than one-fourth (l/~) share.

Section 2. Stock Led~er.

The Secretary shall, when required, keep a book called a
stock ledger, containing the names of all persons alphabetically
arranged, who are, or shall within one (1) year have been, stockholders
of the corporation, showing their place of residence, the number of
shares of stock held by them respectively, the time when they respec-
tively became the owners thereof, the amount of stock actually paid in,
and what proportion has been paid in cash; which book shall, during the
business hours of the day, be open for the inspection of the stock-
holders and creditors of the corporation, and their personal repre-
sentatives, at its principal office; and any and every stockholder,
creditor or representative shall have the right to make extracts from
said book, and no transfer of stock shall be valid unless it shall have

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