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aIl stock certificates, contracts, and conveyances requiring the same. He shall prepare and keep an accurate stock ledger and all other praper books of record and of account of the business of ttse corparatiorz, and such other booics and records as the Board of I}irectors may prescribe. He shall make such repoz�ts to the Boa�-d of ➢irectars of a.11 l�is accounts and doings as may be re�uired by the Baard of Directors. Said accaunts may also be made to the members if requu'ed by the Board of Directors. The Secretary sha.Il fiimish a bc�nd satisfactory to the Baard of Directors for the satisfacto:y perfo:m�ce of �ys du�:es, t�;e cost of which shall be borne by the : orporation. Seetion 5. Duties and Powers af the Treasurer. The Treasurer shall perform all duties usually incident to the office of Treasurer of a corporation. He sha11 collect assessments and other sums due to the corporafion. He s�all safely keep aIl money and funds af the corporatiQn and disburse the same oniy an orders signed by the President. He sha11 keep such finaneial records and accounts as will accurately reflect the finances and assets of the corporation, an.�. shall repart the sa�me to .the stockholders at each annual meeting and to the Board of Directors upon request. If required by the Board of Directors, the Treasurer shall provide a bond in the amount de�termined by the Board of Directors at the cost of tlae corporation. Section 6. Mana�er or SuAerintendent. In addition to �he of�cers above named, the Board of Directors nnay authorize the ap�ioinfinent of a znanager or a superiatendent, who may or may not be a director ar a member of this corporation. T�e du�ies, authority, and eampensation of such manager or supezintendent shall he as deteimined by the Baazd of Directors. ARTICLE VI Stock, Certificates and Transfers Section 1. C�asses o;FStock. There shall be two classes of stock, Common Stock and Prefezred Stock. Preferred Stock will be identified as such on the face of �he stock certificate. Section 2. Transfer of Stack. No transfer of stock shall be allowed without approval of the Boazd of Directors. The Baard may adopt nzies governing approval of said transfers. A shazeholde�r pro}sasing to transfer his stacic in this corporation, whethez to a shareholdez, non- shareholder, or non-member of tivis corporation, ar from one siructure to another structure, sha11 make a written rec}uest for approvaI of the transfer to the Board of Directors. If, in the opinion of the directors, the transfer may be made without injury to the cor�oration, the corporation's water rights and other replacement water sources or � other members, ar to the integrity or administrability ofiis plan for augmentation, the Boazd ofDirectors shall approve the tansfer and any such approval shall i�zclude terms and condi�ons deemed xzecessary by the Boazd of Directors to prevent such injury. The propQSed transferee may be required by the Board of Directors to pay engineering and le�al costs assaciated with evalua.f:in� the proposed transfer. It is the policy of the corporation to encourage the free transferability of stook as much as eonsistent with the foregbing prineiple. Therefore, a transfer of stock fram ane weli to another weIl both of which divert from the Valley Fill Ac�uifer and surficial aquifers along the Arkansas River below 3ohn Martin Dam to the Colora.da Kansas stateline, as gen; rally delineated on themap attached to the Amez�ded Rules and Regulations Governing the Diversion aad Use of Tributary Ground Water in� the Arkansas River Basin, Colorado effective June 4,1996, vuitl bepresumed to be without injuryunless theBoard ofDirectors determine otherwise hased on the �nique facts of any par�cu�ar cireumstance. The corporation shail not be liable for revegetation of Iand or weed control on Iand from which shares c�f stock have been transferred. In the event of a transfer of shases by anyperson, bank or instiiution which is a creditor 7