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SECTION 2. Voting. Every holder of common stock shall be <br />entitled to one vote for each share Of stock standing in his name <br />on the books of the corporation and titled to vote. Cumulative <br />voting shall not be allowed in the ele tion of directors or for any <br />other purpose. Preferred shares ca no right to vote. <br />SECTION 3. Non - Cumulative Divi <br />priority to common shares are entitled <br />the Board of Directors, non - cumula <br />shareholders of record at the close of <br />the payment thereof as is fixed by <br />declaring any such dividend. The divi <br />and the holders of preferred shares <br />dividend even though the Corporation <br />payment of dividends, unless payment t <br />the Board of Directors; but such c <br />declared and set apart for payment in <br />such year are declared and paid on th <br />lends. Preferred shares in <br />to receive, when declared by <br />:ive dividends, payable to <br />business on such date before <br />the Board of Directors on <br />dend shall not be cumulative <br />hall have not right to such <br />has funds available for the <br />herefor has been declared by <br />.ividends shall be paid or <br />:ny year before dividends for <br />common shares. <br />SECTION 4. Declaration of Divi ends. When declared by the <br />Board of Directors, any dividends payable to shareholders shall be <br />payable to shareholders of record at the close of business on such <br />date before payment thereof as is fix ad by the Board of Directors <br />on declaring any such dividend. <br />SECTION S. Transfer of Common Stock. The corporation may <br />have the right by appropriate action to impose restrictions upon <br />the transfer of any shares of its common stock, or any interest <br />therein, from time to time issued, provided that such restrictions <br />or notice thereof, shall be set forth upon the face of the <br />certificates representing such shares of common stock. <br />ARTICLE <br />CUMULATIVE <br />No cumulative voting shall be al <br />ARTICLE VI; <br />PRE- EMPTIVE RI S <br />The shareholders shall have no p e- emptive rights to acquire <br />additional or treasury shares of th corporation or securities <br />convertible into shares or stock purc ase warrants or privileges. <br />ARTICLE V7 <br />BY -LAWS <br />The By -Laws of the Corporation <br />of Directors. The power to alter or <br />11 be adopted by its Board <br />,,id or repeal the By -Laws or <br />