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i <br />� L�.ws of the Cra.jl�x :�es�. �=:e^<�ZZT.r"J' -r Cot�p� ny Continued <br />Art. VII. Cor�pe,zs�.�io*� of ��rficers <br />Sec. 1. The 1T18M��r: c�r ��!e :;o�,rd of directors sh�.�.l re- <br />ceive no compens.�.T?..:.:� io�.^ their services as directors, noz <br />shall the cor�pa,rly be ?ielu. lia.ble for any services renderea <br />except it be expressly so provided, but the members of the <br />bo2.rd shall be alloa�red rePson�ble cor�pensa.tion when �.ctua] <br />ly enga,ged in the busines� of the conpany to be audited <br />and allowed as in other c�.ses of der�ands t�.gainst the cor�- <br />pany, The secretary, tre�,surer and �en�rP.l superintendent <br />shall be P.11owed such cor�pensation as sh�.11 be �llowed 'oy <br />four-fifths of the board of directors. ' <br />Art. VIII. Contr�.cts <br />Sec. 1. No cantract by a,ny officer of the comp�.ny sha,ll k� <br />vP,lid without previous Puthoriz�.tion or subsequent rP,ti- <br />fication of the board of directors. <br />Art . TX . r�eetings <br />sec. 1. The regular �,nnu�.l meeting sh�.11 be held on the <br />firet SA.turd�.y in l�s�.rch of ea.ch yeP.r. A representation of <br />� r�Pjority of the c�.pita.l stock sh�.11 be necessa.ry for the <br />tr�,nsPCtion of the business of a.11 meetin�s of the stock- <br />holders. `� <br />Sec. 2. at su�h meetin�s �, represent�,tion by pxoxy duly <br />appointed sh�.11 be �.11owed, such proxy to be in writing <br />�.nd to be filed with the secret�,ry of the �,ssoci�,tion. <br />Sec. 3. A regula.r quarterly neetin� of the bo�.rd of direc- <br />tors sh�.Il be held in e�.ch ye�.r �nd specia.l meetin�s of <br />the bo�.rd ma,y be c�,lled by th� president whenever he r��,y <br />deem it expedier_t. A r��.jority of the directors sh�.11 con-� <br />stitute a. quorum nec�sGa,ry for the tra.ns�.ction of business <br />except a, la.rger r�e:�b�r of directors are req_uired by these <br />by l�.ws . <br />Sec. �-. All meetings of stockholders sh�.11 ^e c�.11ed by <br />notice ptiiblished a.t le�st once in a, weekly newsp�.per <br />printed in the County of ���es�, or by notice throu�h the <br />�a.il, in writing, �nd t� '; a^t iic� ;ic:.s in five conspicuous <br />places on Ranna,h Creek. <br />art. X. Certific�.tes of Stock <br />Sec. 1. Certificates of stock sh�.11 be of such forrl �nd <br />device as the board of directors ma.y direct, �.nd such <br />certific�tes sha.11 be si�ned by the president �.nd secret�._��� <br />and eapress upon their face their number, dates if issu�.ncr <br />a.��ount of stock for which, �.nd the person to who::1 issued� <br />Sever�.l certificates may be issued to the sPr.1e perscr . <br />provided that irl the �.��ri�ate they do not esceed the nu�:�•• <br />ber of shares or �,mour.t of stock belon�;ir_a to such �ersor • <br />Art. X1. Tr�.ngfer <br />Sec, l. 8h�.res ir. the conp�n,y r��,y be tra,nsferred �.t P�y <br />time by the hol3er thereof or by a,ttorney le<��lly consti • <br />tuted or by his le�;al repreGenta.tive, but no tr�nsfer shr,�l <br />be v��.lid eacept betveeen tre p�.rties thereto, unless in the <br />proper fozra or� the books of the cor�p�.ny. Tze nroper sur- <br />rendereu c?rtific�.te sha.11 be c�.nceled before a r_e�r cex- <br />_�_ <br />� <br />