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<br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />-attest by his signature and the seal of the CO'lloration all its official documents and certificates of stock. shall be the custodian <br />of all bonds, notes, documents and aU the archives of the Corporation; shell prepare and keep proper books of account for the <br />business of the Corporation; shall carefully examine all bills and accounts against the Corporation and present the same to the <br />Board for their action; shall certify all bills and vouchers audited by the Board: shall collect all assessments and money due the <br />COl'l'oration and pay the same over to the Treasurar. taking his receipt therefor: shall maka a report of the business transacted <br />by him annually at the stockholders' meeting and to the Board of Directors wheoevaf required by the President or the Board and <br />exhibit and explain th" same: shall attend to the oorrespondenoe of the Corporation. and perform all the duties usually <br />appertaining to the office of Secretary. In oase of death, absence or inability to act of the Secretary, his duties and power shall <br />be exercised by a Secretary pro tempore. <br /> <br />Section 8 the Treasurer shall be the custodian of and receive from the Secretary. all moneys of the <br />Corporation. and pay the same out only upon proper vouchers or Warrants certified by the President and Secretary and shall keep <br />a record of aU moneys received and paid out and all vouchers and receipts gNen therefor. He shall make a report annually to the <br />stockh~ders. atso shall report to the Board ae often as requested by the President or the Board, and shall at least. once a year. <br />and whenever required by the President or the Board make full comparison and adjustment of his account with those of the <br />Secretary. He shall have gene~ charge of all books, vouchers and papers belonging to the Corporation. except such as are under <br />the special control of the Secretary and shall perf?rm such duties as are incident by law to the office of Treasurer. <br /> <br />Section 7 A ditch superintendent and a suitable number of ditch riders shall be appointed by the Board. The <br />superintendent shall have the general management of the canal and the division of all water therein. and perform the duties <br />usually appertaining to ditch superintendent. All ditch riders shall be under and shell obey the orders and instructions of such <br />superintendent and he shall have power to suspend or remove any ditch rider and fill the vacancy by appoinanent. which <br />appointee may hold his office until the place shaU be filled by 8fl appointment from the Board. <br /> <br />Section B The Treasurer shatl receive no com~ensation. The directors shall receive $10.00 per day for each <br />and t!Nery board meeting acwally attended. The Board shall fix the compensation of the Secretary, superintendent and all ditch <br />riders for the season al the time of their appointment. All other officers. clerks. agents, servants and employees employed or <br />doing service for the Corporation shall receive such reasonable compensation as may be allowed by the Board. <br /> <br />Article 4 <br /> <br />Funds of ttu, Comoration <br /> <br />Section 1 An money of the Corporation. or under its charge. shall be deposited in a bank to tha credit of the <br />Corporation by its corporate name. <br /> <br />Article 5. <br /> <br />Stock Certificates l'l!nd Transfe~ Thereof <br /> <br />Section 1 Certificates of the capital stock of the Corporation shall be numbered and registered as they are <br />issued. They shall exhibit the holder's name, Post Office address. or residence. and the number of shares and shall be signed <br />by the President and countersigned or attested by the Secretary and shall bear the corporate seal, and the total number of shares <br />representetd by certificates outstanding shall never exceed the authorized capital of the Carporetion. Transfers of the stock shall <br />only be made on the books of the Corporation in the presence of the Secretary or Pl"esident, by the holder either in person or by <br />an attorney.in-fact. or legal representative who shall sign the transfer book. and surrender the certificate for cancellation, which <br />shall be cancelled before a new certificate shall be issued in Iiell thereof. and the surrendered certificate shall be kept on file in <br />the Secretary's office; and the mere possession of a certificatl$ of stock as between the Corporation and the holder, shall not <br />be regarded as vesting any ownership of the same in any persol'l other than the registered owner until transfer is duly made on <br />the books of the Corporation. No transfer of the stock shall be made or shall be valid until all assessments against the same shall <br />have been fully paid. <br /> <br />Section 2 The Secretary shall keep a bOOk called a stock ledger containing the names of all perSOnS, <br />alphabetically arranged, who are and shall within one year have been, stockholders of the Corporation. showing their place of <br />residence, the number of shares of stock hctfd by them respectively. the time when they respectively became the owners thereof, <br />the amount of stock acwallv paid in and what proportion has beef'! paid in cash: which book shall, during the usual business ours <br />of the day, be open for the inspection of the stockholders and creditors of the Corporation and their personal representatives at <br />its principal office and any and every stockholder, creditor or representative shall have the right to make extracts from said book <br />ard no transfer of stock shall be valid unless it shall have been entered therein within sixty days from the date of transfer by an <br />entry showing to and from who transferred: and. in case of the pledge of any of said stock, the Secretary shall make a <br />memorandum upon said book showing to whom and for what amOunt the stock has been pledged. The Secretary shall also keep <br />a stock transfer book and certificate book and swbs. <br /> <br />Section 3. The stock shall be considered and treated by the Corporation as personal property and any person <br />pledging or mortgaging the same as security for any debt shall be considered as holding the same and liable according as a <br />stockholder. Every executor. administrator, conservator. and gU13rdian shall represent the stock in his hands at all 'tockholders' <br />meetings and voc" the same as a stockholder and shall be liable in the same manner and to the same extent as the testator <br />intestate or wards would have been if living or competent to aCt. And every person who shall pledge or mot1gage his stock as <br />oollateral security or as security at ail for any debt shall nevertheless be entitled to vote chit same at all stockholders' meetings <br />while he remains the equitabllt owner until the legal and equitable title shall have been forfeited against him by foreclosure. <br /> <br />S~ct;on 4. <br /> <br />The 5toC\l:. ot the Corporation shaH all be issued as fully paid up stock and shall not be liable to fu(uro <br /> <br />calls. <br /> <br />3 ' <br />