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<br />SEC. 7. To cause to be issued to each Stockholder in proportion to their
<br />several interests, certificates of stock covering the number of shares each Stock-
<br />holder is rightlull y entitled to.
<br />SEC. 8. Directors (as such) shall not receive any stated or fixed salary for
<br />their services, but may receive compensation for work actually done by resolution
<br />passed by a majority yote, by ballot at any regular or special meeting of Stock-
<br />holders, such compensation to depend upon the Directors being present at the
<br />opening of such regular or called meeting of Directors and continuing present
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<br />until acljournment _._______.__.._______.________._______~__
<br />Members of special or standing committees may be allowed compensation
<br />for attending committee meetings in like manner.
<br />Additional compensation may be made to any Director for spt>cial service
<br />rendered.
<br />SEC. I). The Directors may by resolution establish branches, or branch
<br />offices, for the conducting of the Company's business, and employ managers for
<br />the ~ame, at such times and places as in their opinion the best interests of the
<br />Corporation shall demand. .
<br />St:c. 10. The Dir.:::ctors may by resolution. regularly adopted desig.nate_n_.____
<br />directors to constitute an "Executive Committee" to act during the "interim" the
<br />board is not in session, whicll committee shall have all the powers of the full board.
<br />and shall report all its acts and doings to the board at each meeting thereafter.
<br />ARTICLE VI.
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<br />DUTIES OF DlRECTORS.-BANK, MONEY, CHECKS AND MEETINGS.
<br />SECTION I. The Directors shall, by resolution duly considered, regularly
<br />passed and recorded in the minutes of their meeting, designate a Bank with which
<br />the officers or ~mployes of the Corporation shall deposit the funds of the
<br />Company.
<br />SEC. 2. The Directors shall, by resolution, designate the manner in which
<br />checks and drafts shall be signed and what the endorsement on the same for
<br />deposit shall be.
<br />SEC. 3. Regular' meetings of the Board of Directors shall be held
<br />without notice following the adjournment of the Stockholders' annual meeting,
<br />and also___~
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<br />Such meetings shall be held in the offices of the Corporation, and if no office has
<br />been fixed or established, then at such place as a majority of Directors may
<br />agree upon.
<br />SEC. 4. Special meetings of the Board of Directors may be called at any
<br />time by the President, (and in his absen(je by the Vice~President,) on........~__
<br />days' notice by mail, or personally given to each Director, and by the Secretary on
<br />QPpllcatlon In ,":rltlng by n mnjol'lty of the Director., by nl"iJinS' to (luch Oil'ector
<br />at Jeast.......__..~.____days prior to the date or such c;\llcd meeting. a written
<br />or printed lotice stating the date, time and place of holding such meeting.
<br />SEC. S. At each annual meeting and when called for at any special meet-
<br />ing of Stockholders, the Board of Directors shall present a full and clear statc~
<br />ment of the business of the preceding year, a report of the financial condition
<br />of the Corporation __H_._._ H _~H_._.____..~....H._..'...H...__.._~.._.....__..HH__._.._.__._.
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<br />SEC. 6. . A quorun?shall consist of a majority 01 Directors in office. But
<br />a smaller number may adjourn to a subsequent time.
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<br />ARTICLE VII.
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<br />SECTION [, The executi:ve officers of this Corporation shalt be a President,
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<br />one person may act as both Secretary and Treasurer, H
<br />who shall perform the usual duties appertaining to their respective
<br />offices, all of whom shall be elected by the Board of Directors by a majority
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