C150332 Feasibility Study - Laserfiche WebLink

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Section 1. In case any stockholder shall have any complaint to make on account of the distribution of water by the Company, or on account of the conduct of the water officers of the Company, or for any other reason, he shall make complaint in writing to the Superintendent who shall take such action as may be just and right to adjust the matter. Provided, however, that if the decision of the superintendent does not satisfy the objections of the stockholder, he may appeal to the board of directors who shall make a full investigation of the matter, and of the complaint, and such stockholder or stockholders may appear and offer such evidence as he or they may see fit, and the board shall use all proper efforts to correct the evils complained of. The final determination of the board, however, shall be final and binding upon all parties concerned. XIX. AMENDMENTS The above By -laws are subject to amendment by a majority vote of the stockholders present at any annual meeting or any special meeting called for that purpose. XX. INDEMNIFICATION OF THE OFFICERS & DIRECTORS The company shall indemnify and provide advances of expenses to Directors of the company, whether or not then in office, against liability incurred in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative and whether formal or informal in which the individual director is made a party because he is or was a Director. In all such cases, indemnification or advanced expenses shall be made to the extent, and pursuant to the procedures expressly permitted or required by the Colorado Non - Profit Corporation Code. The company shall indemnify and provide advances of expenses to Officers to the same extent permitted or required for Directors of the company. The cost of these expenses could be accomplished through the purchase of Directors and Officers insurance. Amended 11 -11 -80 Amended 11 -17 -94 Amended 11 -18 -04