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the fraction of a shore chill entitle the holder thereof to the game fraction of one vote. The <br />voting for the board of directors may be done in the manner prescribed by the statute with <br />reference to cumulative voting. <br />7. Written notice of the annual, regular and special meetings of the stockholders shall <br />be mailed to each shareholder entitled to vote thereat at the address that appears on the <br />books of the company, in the manner prescribed by law. <br />8. Special meetings of the shareholders for any purpose or purposes, unless otherwise <br />prescribed by statute, may be called by the president, and shall be called by the president <br />or the secretary or other person at the request in writing of the majority of the board of <br />directors or at the request in writing of one or more share holders holding not less than <br />40% of the voting power of the corporation. Such request shall state the purpose or <br />purposes of the proposed meeting. <br />9. Business transacted at all special meetings shall be confined to the objects stated in <br />the call. <br />10. (as amended 12/3/2001) Deleted. <br />11. The property and business of this corporation shall be managed by the board of <br />directorq with not legq than three nor more than seven memherq who need not he Share- <br />holders. They shall be elected at the annual meeting of the shareholders and each director <br />shall be elected to serve until a successor shall be elected and shall qualify. The number of <br />directors, pursuant to this provision in relation thereto contained in the Articles of <br />Incorporation, may be increased to not more than seven by action of the directors accord- <br />ing to these by -laws. <br />12. Without prejudice to the general powers and other powers conferred by these <br />by -laws, the board of directors shall have the following powers, namely: <br />(a) From time to time to make and change rules and regulations, not inconsistent <br />with law or these by -laws for the management of the company's business and affairs. <br />(b) To lease, purchase or otherwise acquire, in any lawful manner, for and in the <br />name of the company. any and all real estate and other property, rights, or privileges, <br />whatsoever deemed necessary or convenient for the prosecution of its business, and which <br />the company is authorized to acquire, at such price or consideration and generally on such <br />terms and conditionq ac it thinks fit_ <br />(c) To sell or dispose of any real or personal estate, property, rights or privileges <br />belonging to the company, except water rights, canal, or diversion dam, or any other part <br />of the property used in the diversion and distribution of priorities owned by the company, <br />