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� <br />� <br />ARTlCLE K <br />Meefings of the Board of Direcivrs may be held afEar writien or �erba� nflfice given 24 hours prior <br />to the meeting, <br />aRTtc�.� xi <br />Al[ vacancies on #he Baard of Directors may be filled by a vate af a majoriiy of the remam��g <br />Directors of the Board, <br />ARTICLE Xli <br />The s�aeicholders shall have power to fevy assessmenis ort the stocEc of the Company far all <br />indebtedness of #he Com{�any at their annual or specPal meetings. <br />ARTICLE Xllt <br />The President sha(! 6e th� chief executive o€f+cer of the Company, He shalf sign all official papers <br />and documents of the Cornpany, preside af all me�tings of the Board and Company an�l, under <br />the direction of the Board of Directors, have general supervision of the business of the Campany. <br />Tne President may aktend to all o#her duties as ff�e Baard of Directors may authorize, shall make <br />a fufl report of the same fnr the stockhofders and present the same af each annua! meeting, <br />ARTICLE X1V <br />The Secretary si�all iceep a record of the proceedings of the board of Directors and of the <br />Company, keep the books of fhe Company, attest by his signature fo the Company all official <br />dacumen#s and certifica#es of s#ock issued. Ths Secretary shall keep a cornplete sefi of books <br />shov,ring a!! af the accounts, prbperty, and iransactio€�s of the Company, earefuily examine afl bills <br />and accounts due or agaPnsi the Company, collect al! assessments and maney due fhe <br />Campany, and pay #he same over ia #he Treasurer, taking his receipt for fhe same. The Secreiary <br />shali rr►atce a report of the business transacted by him anrcttaily and exhibit a�d explain the same. <br />AR7ICLE XV <br />The Tr�asurer shall be the cusiodian of, and receive a!I maneys, notes and other property of the <br />Company. The Treasurer shalf give bonds in such sum as the B�ard of Directors rnay require for <br />ihe safekeeping and proper accounting for the same, and payout money �nly �apc�n being cer�ified <br />by the Presidenf and Secretary of ihe Campany. The Treasurer sha�i make a report annually. <br />ARTICLE XVE <br />The Seerefat-y shall charge �ar transfers in an amount determined by the Board of Directors. AI! <br />exp�nses of the Company incurred as the resutt af a kransfer must be paid by the transferee r�r <br />transf�ror. <br />ARTICLE XVIf <br />Changes of Water R�uhts: Any stoc{cholder ("applicant°) desiring a change of wafer right <br />includin�, but not limited ta, a change in point of di�rersion or piace of use of any water that the <br />appficant is entitled to �eceive as a resuft of stock owner�hip must first make a written app�icatiort <br />therefore to the Directors of the Comparty. A change af water right shall include the use of wa#er <br />the stc�ckholder is entitled to as a result af stock ownershi� as ae�gmentation wafer in a p{an for <br />�u�ment�tion ar exchange, The request should detal fhe requested change anc! inelud� <br />adequate terms and conditions to prevent injury to th�e Corrrp�ny an� its stockhalders. lf, ir� the <br />reasonable opinion of the Directors, such change may be made �ruithaut injury tfl the Corr�pany <br />Page 2 of 5 <br />