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Upon receipt of such demand, the corporation shall mail with postage prepaid a notice <br />to all persons shown of record on the stub of the lost certificate, at the last known address <br />of each such person, and further, shall publish at the expense of the person making such <br />demand, at least once a week for five successive weeks the fifth publication being on the <br />twenty- eighth day after the first publication, in a newspaper of general circulation in Otero <br />County or if there is no newspaper in such County, then in such a newspaper of an <br />adioining County, a notice that such a demand has been filed with the corporation in <br />accordance with these provisions, setting forth such demand in full and stating that said <br />corporation will issue, on or after a date therein stated, following the last publication of <br />said notice by at least thirty days, a duplicate certificate to the registered owner or his legal <br />representative or assignee unless a contrary claim is filed with said corporation prior to the <br />slate stated in the nntire. <br />If no claim of interest or ownership other than that made by the person filing such <br />notice or his legal representative or assignee is filed with the Secretary of the corporation <br />prior to the date stated in the notice, the corporation shall issue, on or after said date, a <br />duplicate certificate to said person or his legal representative or assignee, and all rights <br />under the original certificate shall immediately cease and determine and no person shall at <br />anv time thereafter assert any claim or demand against the corporation or anv other person <br />on account of such original certificate. <br />ASSFSSMFNT ON STOCK <br />43. Whenever it is deemed necessary to raise funds to keep the reservoir, dam, ditches. <br />valves. gates and all related equipment in good repair, or it is deemed necessary to raise <br />funds to pav any indebtedness theretofore contracted or the interest thereon, a majority of <br />he stockhQldM thereof shall have power to make and levy an assessment on the capital <br />stock thereof, to be levied pro rata on the shares of stock, payable in money or labor or <br />both, for the purpose of keeping the property of this company in good repair and for the <br />payment of any such indebtedness or interest thereon; provided that no assessment shall be <br />made unless the question of making the same shall have been submitted to the stockholders <br />at an annual meeting, or at a special meeting called for that purpose and a majority of the <br />stock issued and outstanding represented either by the owner in person or by proxy, voting <br />thereon, shall vote in favor of making such assessment, and in case said stockholders fail to <br />hold such meeting or fail to make or authorize anv such assessment by the first of Aurjl in <br />_ <br />any year. then the dir ctnrs -ahall have power to -make any such assessment at any regular <br />or special meeting called therefor for such vear. <br />In making and levying assessments against the stock as aforesaid the stockholders or the <br />board of directors, as the case may arise, shall and they do have the power to fix the due <br />dates of such assessment and the penalties for failure to pay said assessments if and when <br />due and delinquent. <br />Shares of stock shall be deemed personal property and the shares of any stockholder <br />