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<br />I <br />I <br />I <br />I <br />I <br />I <br />:1 <br />! <br />I <br /> <br />.;. <br /> <br />/Ji-<-/1 <br />2/5/1' <br /> <br />I?k7 ~J-.t.-- <br /> <br />moved adoption of the following resolution: <br /> <br />BE IT RESOLVED THAT <br />ARTICLE III..shall be stricken in its entirety and in lieu <br />thereof a ne\v ARTICLE III enacted as follO\vs: <br /> <br />Section 1 (a). Number of Trustees. The corporate powers of <br />this company shall be exercised by a board of ' trustees , <br />otherwise calleG directors, composed of five (5) stock- <br />holders. <br /> <br />(b). Term of Office of Trustees (directors). The <br />term for each trustee (director)shall.be five years be- <br />ginning with his election at an annual meeting and ending <br />at the annual meeting five years later, except that be- <br />ginning with the annual meeting to be held in the year <br />1976 trustees shall be elected to erve terms as follows: <br /> <br /> <br />(1) One tru'stee (director) shall be ei'ected <br />to serve to and until the annual meeting <br />to be held in 1977. <br /> <br />" <br /> <br />(2) <br /> <br />One trustee (director) <br />serve to and until the <br />be held ~n 1978. <br /> <br />'sh'a.ll be elected to <br />a.nnual meeting to <br /> <br />(3) <br /> <br />One trustee (director) <br />serve to and until the <br />,be held tn 1979. <br /> <br />shall. be elected to <br />annual meeting to <br /> <br />.;: <br /> <br />(4) One trus~ee (director) shall be elected to <br />serve to and until the annual meeting to <br />be held tn 1980. <br /> <br />(5) One trustee (director) shall be elected to. <br />serve to ~nd until the annual meeting to be <br />held in 1.981. <br /> <br />',< <br /> <br />Section. 2. Officers. FOllowing each annual meeting the <br />Trustees or Directors shall meet to organize for the <br />following year. One ~f their number shall be elected to <br />serve as President, one of their number shall be elected <br />.to serve as Vice-President, and they shall also elect a <br />Secretary and Treasur~r. It shall not be necessary that <br />either the Secretary or Treasurer be a stockholder ora <br />member of the Board of Trustees. Either such Secretary <br />or Treasurer may be selected from persons not stockholders <br />in said Company, if fctund desirable or to the best inter- <br />ests of the said Corporation. The same person may occupy <br />the office of Secretary and Treasurer. <br /> <br />Seconded by uJ tot/rul ~ <br />)lh..i ~ lv-,' ~~ <br /> <br />"'-. <br />" <br />