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voting for directors shall be by ballot. Those candidates receiv- <br />ing the highest vote in order shall be declared elected. Cumula- <br />tive voting shall not be allowed. <br />Section 2. S]peci a1_ Stnrkhnl dprs ' Meeting. ng. A special <br />meeting of the stockholders may be called at any time on such no- <br />tice as is provided by law for the consideration of any matter <br />requiring the action of the stockholders. <br />Section 3. Directors' M _ _ _i ncrs. Meetings of the board <br />of directors may be called at any time at the request of the Presi- <br />dent, or any two directors, by giving at least twenty -four hours <br />notice to the other directors of the time, place, and purpose of <br />the meeting. <br />Regular monthly meetings of the board may be held during <br />the irrigation season, at such times as may be determined upon <br />resolution of the board. <br />VII. QUORUM <br />A majority of the issued and outstanding stock of the <br />Company, represented either in person or by duly authenticated <br />proxies, shall constitute a quorum of stockholders. <br />A majority of the board of directors shall constitute a <br />quorum of the board of directors. <br />VIII. CERTIFICATES OF STOCK <br />Section 1. Certificates of stock shall be issued to <br />every bona fide present member of The Terrace Irrigation District <br />in the proportion of one share to each sixteen acres of land now <br />owned by such member, and included in and entitled to water from <br />the irrigation system of The Terrace Irrigation District, upon <br />satisfactory showing of ownership and the payment of all delinquent <br />irrigation district taxes and assessments then outstanding against <br />such lands. <br />Section 2. Each certi <br />shall entitle the holder thereof <br />system of the company, an amount <br />beneficial purposes, in the same <br />to the total number of shares of <br />and outstanding. <br />ficate of stock of this company <br />to receive from the irrigation <br />of water for irrigation and other <br />ratio as one share of stock bears <br />stock then issued by the Company <br />Section 3. Certificates of stock shall be signed by the <br />president and secretary, and each certificate shall express on its <br />face the date of issue, the number of shares for which said cer- <br />tificate is issued, the person or persons to whom the same is is- <br />sued, and on the back thereof the description of the lands for and <br />on account of which such certificate of stock is issued. <br />