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(10) days prior t� 'the �ate set foP� such meeting. A majority of the <br />outstanding shares of the Can�panV s�all be present at such meeting ir� <br />persan or proxy �o constitut� � q��rum, provideci a lesser number rnay have <br />power to adjc�um �� � tirr�� c:ertai�, r�ot iess than thirty (30) ciays and no rz�ore <br />than s�xty (60) �ays, �r vvhich case �egai notice must be given oi tF�e <br />adjaurned meeting as requir�d ��y law. At any stockholders meeting the <br />owner of eacr� share of stock sh�fi on account thereof, be entitled to one (1) <br />vote. Wher, stock is mortgaged or pledged, or otherwise used as collateral <br />security, the owner of the equity shall be authorize� to vote the same, <br />provided if the equity owner is no� presenting person or by proxy, then it shali <br />be deemed that the mortgageE pie�gee, trustee, or holder of the legai title to <br />saia stock has empowered the secretasy to vote sai� stock by proxy as he <br />may see fit. <br />At regUlar or adjourned �nhua� stackholders meeting a Board of Trustees <br />shall be elected for the ens�i�g carporate year and until their successors are <br />elec�ed and qualifie�. An �ssessment shall be made on each share of stock <br />of the Company to keep th� property of the Company in repair, and for <br />superintendence, maintenance and� other lawful purposes for which funds are <br />required. <br />At all meetings of the stockh�iders the president of the Board of Trustees <br />shall preside and the secretary of the board shall act as secretary, if present. <br />Ir� the absence of the presidenf, the vice-president shall preside. In the <br />absence of both president an� vice-president the meeting shall select a <br />chairman to act. In the absence of the secretary of the Boarci of Trustees the <br />meefiing shali elect a secret�ry for said meeting. At such meeting the <br />election of Trustees sfnall f�e by ballot and as required by statute. <br />Section 2. Votes. Each stockholder and subscriber of stock, not delinquent in <br />payment of assessments, shal! be entitled to vote as provided above. <br />Section 3. Order of Business. At a�l annual meetings, the order of business shall be <br />as fiollows. <br />1 Reading a�d approv�l of the minutes of the fast annual stockholders <br />meeting, and of all the special meetings of the stockholders subsequent. <br />2 Report of president. <br />3 Report of secretary. <br />4 Report of treasurer. <br />5 Election of Board of `rustees. <br />6� After the stock is fiully paid up the levy of an assessment for the ensuing year, for <br />superintendence, maintenance ar�d �ther �awful purposes permitted by statute. <br />7 Any other business which may properly come before the meeting. <br />Section 4. Special meetings. Special meetings of stockholders may be called by the <br />Board of Trustees, by resolution passed at any regular meeting thereof, or may <br />otherwise be called as provided by statute in that behalf. Notice of special stockhotders <br />meeting shall be given b� the secre�ary or president in the same manner and for the <br />Lower Latham Reservoir Company � <br />Bylaws Amended 7/14/2005 <br />