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Water share shall be assessed for dues or specials assessment as determined by the <br />Bylaws of the Company. These shares are also shares of the Grand Valley Irrigation <br />Company. <br />Article VII <br />Voting <br />There shall be only one vote per Water Share Holder per household, unless they own <br />land under the ditch in separate parcels owned. Example: There are 318 water shares on <br />the lateral but only 30 landowners with 30 parcels with water shares on the lateral then <br />there shall be 30 votes. Future developments could see the 318 shares used by 600 <br />landowners and 600 parcels then there would be 600 votes. <br />Article VIII <br />Preemptive Rights <br />The shareholders shall have no preemptive rights to acquire any unissued water shares <br />above 318 shares assigned to the lateral. <br />Article IX <br />Quorum of Shareholders <br />A quorum at any meeting of shareholders of the Company shall consist of a majority of <br />landowners with assigned shares of the Company present at the called public meeting <br />and are entitled to vote at such meeting, and the same proportion of the landowners <br />with assigned shares of the Company are entitled to vote at such meeting, represented <br />in person or by proxy. <br />Article X <br />Regular Shareholder Vote <br />At any meeting of shareholders at which a quorum is present, the affirmative vote of a <br />majority of the landowners with assigned water shares of the Company present in <br />►a] <br />