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EY ?� � S <br />�� <br />THE GR�iND ?f�'S�1 RESER�TGIR CGI!3PANY <br />Art. 1. . Gfficers <br />The officers sh�,ll con �ist of a. President , SecretPry a,nd <br />Tre^.surer. <br />Art. 11. Directors <br />Sec. 1. �i bo^rd of five directors shall �e elected a,t tre <br />stockholders� meeting. The di.rectors ele�ted sh�.11 $erve <br />for one year, froM the first d�.y of election to d�y of <br />(exclusion) the n�xt month following their election a.nd <br />until their succes�ors �.re elected a,nd qualified. <br />Sec. 2. The President �.nd TreP.surer sh�.1l be directore, <br />� The Secreta.ry mf+.y ?�e ?ny stockholder. <br />8ec. 3. No stoc?ci�ol�Ar sh�.11 b e eligzble for election Ps <br />�. member of tha :�c;ard �r directors unless he is �. bon�, fide <br />owner of �.t le�,st five sh�.re� of the c�.pital stock of the <br />company at the ti?�e of his electior_ a.nd durin� his tenure <br />of office. <br />Art. 111. Duties of Gzficers <br />Sec. 1. The Precident sh�,11 preside a.t �.11 meetings of � the <br />directors or stockholders. �-:e sha.11 si�n, a,s president, <br />�11 certific�tes of stock �.nd �.Z1 centra.ets, a.nd other in- <br />struments in writin� wl�ich have first been P.pproved by the <br />board of directors. He sh�,ll �i�L: a.11 chec'�s �nd w�.rr�r_ts <br />upor the treasury. He �r.all have t��e c�stinm vote �.t �.I1 <br />meetings af the stockholders or directors. �ie shall c�.11 <br />the dirPCt�rs tor�ether v�henever �� deems it politic; a,r_d <br />he sh�,ll h�.ve subject to the a,dvice and control of the <br />direc �ors, the gener�,l �upervisior_ of the �.ff�.irs of the <br />�,ssociation. ir_ the �.bsence of the �+resz.dent , tne �residen� <br />pro tem selected shall perxorm his duties. <br />Sec. 2. It sha11 be the duty of the Treasurer to keev <br />sa•fely a.11 moneys a.n3 securities belo:��;in� to the comp�,ny <br />and disburse the s�.�^�e under the direc�ion of the boa.rci of <br />directors or on �va.rrant si�;ned by the president a�d secre� <br />t�ry. At each annu�.l ::�eetir^� of +he 4tockholders he sha1.Z <br />submit a, cor�plete statenent of his �cccunte for tre pa�t <br />ye�.r, wit� �he t�roper vouchPrs for their �nform�t�en. Ee <br />sha.11 discharae such other duties �erta,inin�^ to his office <br />�.s s'rla.11 be presente3 by the 'aoa.rd of directore. <br />Sec. 3. The �ecret�.r�r Gha,ll keep �. correct record of �he <br />meetin�-s of the bo�r��. c�' directorG a.nd also of the stock- <br />holders. He s�Z�ll k�ep t�e boo'K of the blank certific�te� <br />of stock, fi�l up ar_d ccun+ersi�n a11 the certifica.tes <br />issued �nd ma.ke the correspor�din� entries or the �ar�ir. o;°. <br />the books, or such issuance. He s�.�.11 keen a vroper tT�.?'?9- <br />fer book a.nd stock led�er ir_ debit a.nd credit form, showing <br />the stockholder a.nd the d�.tes o� si?ch issua.r_ce �nd tr�.nsfer, <br />he sh�,ll countersi�n P,11 checks, kee� nroper a.ceount book, <br />�.nd discharge s�.zch other duties pertainin� to his office as <br />shall be prescribed by the boa,rd of directors� <br />�'� <br />