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7k4' C 6$dIN <br /> 44.4 '444 444 44 44,4' <br /> the <br /> comfy., b ► traps..e , sale or <br /> , '� of stock or otherwise.. <br /> The board of <br /> DirectrS shall maintain at the office f the Company <br /> ;a. a map depicting the aforesaid lands situated below <br /> and susceptible of use from the Upper Platte and <br /> Beaver Canal Company. The water rights evidenced by <br /> shares of stock issued by the Company shall only be <br /> used for irrigation or domestic purposes incidental <br /> thereto on the aforesaid lands situated below and <br /> susceptible of use from the Upper Platte and Beaver <br /> Canal Company, and each stock certificate issued by <br /> the Company shall bear a legend to that effect. The <br /> Board of Directors shall estallish, by appropriate <br /> rules or regulations, reasonable procedures for <br /> effectuating inclusion of such a legend on the stock <br /> certificates of existing and future stockholders. <br /> The Board of Directors shall be the judge as to the <br /> eligibility of applicants for stock who hereafter <br /> seek to acquire stock by assignment, transfer , sale <br /> or otherwise . All existing stockholders of record, <br /> as of the date of the adoption hereof , shall be <br /> deemed to qualify as eligible stockholders under this <br /> section, and all actual , vested uses of water made as <br /> of the date of adoption hereof shall be deemed to <br /> qualify as irrigation or domestic uses incidental <br /> thereto. <br /> NINTH, The corporation shall be a mutual ditch <br /> company operated for the mutual benefit of the <br /> holders of its capital stock and not for pecuniary <br /> profit, and no dividend shall be paid on its capital <br /> stock except upon dissolution of the Company. <br /> TENTH, The term of existence of said Company shall be <br /> • perpetual . <br /> ELEVENTH, The Board of Directors of the Company shall <br /> consist of five members who shall be stockholders of <br /> the Company. The Board of Directors shall be elected <br /> in the manner prescribed in the by-laws. <br /> TWELFTH, The registered office of said Company shall. <br /> be at Post Office Box 324 , City of Brush , County of <br /> Morgan , Colorado 80723. Other offices of said <br /> Company may be kept at other places in said County of <br /> Morgan , or in other counties, in said state , if the <br /> -8- <br />