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<br />stock and other documents requiring the signature of <br />~he President, attaching the Corporate Seal of the <br />0mpany to all instruments requiring the seal and per- <br />:orm all such other duties as are incident to his office. <br />, <br />and shall be custodian of the funds of the Corporation <br />until the same be disposed of by order of the Board of <br />Directors. <br />As Treasurer, the Treasurer shall have charge <br />of the funds of the Company, after filing such Bond as <br />the Board of Directors shall require, and shall payout <br />the same only on vouchers, countersigned by the President <br />or other such officer as the 'Board of Directors may direct. <br />. <br /> <br />ARTICLE V <br />BOARD OF DIRECTORS <br />Section 1. Duties. The Board of Directors shall <br />consist of five (5) members. It shall be the duty of the <br />Board of Directors to exercise general supervision over the <br />affairs of the Corporation, to audit all bills and accounts <br />against the Corporation, and to direct the Secretary- <br />Treasurer in the disbursement of funds or in correspondence. <br />Section 2. Vacancies. Vacancies in the Board <br />shall be filled by the remaining members of the Board at the <br />first meeting of the Board of Directors after such vacancy <br />occurs to serve until the next annual stockholder's <br />meeting, or until their successors are elected. At the <br />annual meeting on 4th Tuesday of February, on the <br />expiration of the term of offices of the present Board of <br />theCorporation, five directors shall be elected, one member <br />t~rve for the term of one year, two members to serve <br />for the term of two years, and two members to serve for the <br />term of three years, and that the terms of the offices of <br />the five directors so elected be determined by lot by the <br />-ive members so selected; and at the annual meeting in <br />each succeeding year, Directors shall be elected to fill <br />the vacancies caused by the expiration of the term of office <br />of any of the directors so selected for a term of three <br />years, as well as to fill vacancies caused by the death or <br />removal of any Director during his term of office. All <br />members of the Board shall serve for the term for which <br />~lected, or until their successors shall be elected and <br />~u2Iify. Any stockholder in Beaver Park Water, Inc., is <br />alj_gible to serve as a director. <br /> <br />-2- <br /> <br />'I' <br /> <br />,- <br /> <br />such action as shall be just and right, to adjust the <br />matter; provided, however, if the decision of the <br />Superintendent does not satisfy the objections of the <br />stockholders, he may appeal to the Board, who shall <br />make full investigation of the matter and of the <br />complaint and such stockholder or stockholders may <br />appear and offer such evidence as he or they may see <br />fit and the Board shall use all proper efforts to <br />correct the evils complained of. The final deter- <br />mination of the Board, however, shall be final <br />and binding upon all parties concerned. <br />ARTICLE XIX <br />AHENDHENTS <br /> <br />The above By-Laws are subject to amend- <br />ment by a majority vote of the stockholders present <br />at any annual meeting, or any special meeting <br />called for that purpose. <br /> <br />,. <br /> <br />-11- <br />