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be able ta be served�bythe corparation's plan for au�mentation withaut unreasonable adverse impact <br />tlzereon, such determination to be made by the Board at its so�e discrerion; and <br />B. Applicant shall pay a fee to be determined by the Board from time to rime; <br />and <br />C. A�g? ic�..�t mayba req�ired to p�y the a�mi�istrative costs� including engin� <br />and legal costs, incurred by the corparation to add the new member to the corpora�ion`s augmentation <br />p�au zncludin� without limita#ion, �he costs associated with amendment of the augmentatian plan <br />and review of the new member's replaceinent, substitute supply or augmentation plan, and for the <br />preparatian, review or amendment of auy �ease, cantract or any other such doczunent in conn.ectian <br />with membership in the corparation; and <br />D. Applicarit shall make available to the cflrparation sufficient water ta make <br />rec�uired re}�lacement of depletions from each. of the well(s} for which the applicant seeks <br />membership. � <br />E. New members maybe issued shares of stock in the corporation in accordance <br />with Ariicle VI, Sectia� 9 af �hese Bylaws. Nothing shall preclude the transfer or Iease of shares of <br />stock from current stock holders to the new member, subject ta approval of txansfer as hereafter <br />described. 'I'lae Board may adopt rules and regulations to gc�ide the determinahon of whether to <br />approve new memberships. <br />Section 2. Membership Classes. There sha11 be one class of inembers. One <br />memberslup sb.ail be heid for each well owaed by a member and registered with the corporation as <br />a member well. <br />A. Shareholders. Those members who qualify hereunder and who aze issued or <br />hold stack shall be shareholders in addition to being memb�rs. <br />(1) Any person or entity who is a melnber of the corporation may be <br />issued stock and hecome a sharehoider. <br />(2} Anyperson or entitywho acc�uired through purchase, gift, foreclosure <br />or o�herwise, shares of stock from a shareholder and whose transfer <br />of stock has beezi approved as provided hereinafter, may be issued <br />stock upon the snirender of the ac,c�uired stock and shall became a <br />s�areholder. <br />(3) A person ar en�ity shaIl cease to be a shareholder upon approved <br />transfer of aIl shares of stock to another. Cessation of shareholder <br />status under this section shall not release the person or eutity from <br />any Iiabiiity or obligazion incurred as a shareholder not dischazged or <br />sa.tisfied as af #he date of cessa.fiion. <br />B. Non-si�areholders. AII members who aze not shareholders will nevertheless <br />be full members for all purposes other than distribution of benefits and i�urdens on stock. Fn <br />addition., there are some members w�io do not own wells, bnt hold a meznbership for a gravel pit, or <br />� <br />