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<br />16, EXKUTIVE AND OTHER COMMITTEES,
<br />The Board, by resolution, may designate from
<br />am~ng its'members and executive committee and other
<br />committees, each consisting of one or more directors.
<br />Each such committee shall serve at the pleasure of the
<br />Board.
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<br />ARTICLE IV
<br />OFFICERS
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<br />1. NUMBER,
<br />The officers of the corporation shall be a
<br />President, a Vice-President, a Secretary and a Treasurer,
<br />each of whom shall be elected by the directors. Such
<br />other oWcers and assistant officers as may be deemed
<br />necessary may be elected or appointed by th~ directors.
<br />All o((jcers of the corporation, except the Secretary, shall
<br />be stockholders of the corporation.
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<br />2, ELECTION AND TERM OF OFFICE,
<br />The officers of the corporation to be elected by
<br />the directors shall be elected annually at the first meeting
<br />of the directors held after each annual meeting .of the
<br />stockholders. Each officer shall hold office until his
<br />successor shall have been duly elected and shall have
<br />qualified or until his death or until he shall resign or 'shall
<br />have been removed in the manner hereinafter provjded.
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<br />3, REMOVAL
<br />. Any officer or agent elected or appointed by the
<br />directors may be removed by the directors whenever in
<br />their judgm~nt the best interests 01 the corporation would .
<br />be serv~ thereby, bur such removal shall be without
<br />prejudice to ,the contract rights" if any, of the person so
<br />removed. .
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<br />4, V AC^NCIES, , '
<br />^ vacancy in ~ny office ': because 'of death,
<br />resignation, removal, disqualification or otherwise, may
<br />be Wled,by the directors (or the un~xpired portion' of the
<br />terfT). '
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<br />5, PRESIDfNT.
<br />The Preside~t shall be the' principal executive
<br />officer of the corporation and, subject to the' control of
<br />the directors, shall in general supervise and control all of
<br />the business and affairs of the corporation. ,He shall,
<br />when present, pres,ide at all meetings of the stockholders
<br />and of the directors. He may sign, with the Secretary. or
<br />,any other proper officer of the corporation thereunto
<br />authori2:ed by the directors, certiOcates for shares of the
<br />corporation, any deeds, mQrtgages,:. bonds, contracts, or
<br />other ,instruments which the directors have authorized to
<br />be executed, except in case~' .w~ere the signing and
<br />execution thereof shall be e2<pressly delegated by the
<br />directors or by these bylaws to some. other offi~er or
<br />agent 9f. the corporation, or shall be required by. law to
<br />be otherwise signed or executedj and.":jri general $hall
<br />perform all. duties incident to the office of President and
<br />such other duties' as may, be prescribed by the directors
<br />from time to time.
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<br />6, VICE.PRESIDENT,
<br />In the absence of the President or in event of his
<br />death, inability or refusal to act, the Vice-President shall
<br />perform the duties of the President, and when so acting
<br />shall have all the powers of and' be subject to all th~
<br />restrictions upon the' President. The Vice-President shall
<br />perform such other duties as from time to time may be
<br />assigned to him by the Presid~nt or by the directors.
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<br />7, SeCRETARY
<br />The Secretary shall keep the minutes of the
<br />stockholders' and of the directors' meetings in one or
<br />more books provided for. that purpqse, see that all
<br />notices are duly give~ in accordance with the provisions
<br />of these bylaws or as required, be custodian o( the
<br />corporate records and of the seal of the corporation and
<br />keep a register of the post office address of each
<br />stockholder which shall be furnished to the Secretary by
<br />such stockholder, have general charge of the stock
<br />transfer books of the corporation and in general perform
<br />all duties incident to the office of Secretary and such
<br />other d.utle~ as from time to time may be assigned to him
<br />by the PreSIdent or by the directors.
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<br />8, TREASU RER. '
<br />If required by the directors, the Treasurer shall
<br />give a bond (or the faithful discharge o( his duties in such
<br />sum and with such surety or sureties as the directors
<br />shall determ~ne. He shall have charge and custody of and
<br />be respon~lble for all funds and securities of the
<br />corporation; receive and give receipts for moneys due
<br />and payable to the corporation from 'any source'.'
<br />whatsoever, and deposit all such moneys in "the name of
<br />.the corporation in such banks, trust companies or other
<br />depositories as shalf be selected in accordance with these
<br />bylaws and in general perform all of the duties incident to
<br />the office of Treasljrer and such other duties as from time
<br />to time,may be assigned, to him by the President-or by the
<br />directors. . . .
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<br />9, SALARIES,
<br />The salaries of the officers shall be fixed from time
<br />to time by the directors and no omcer shall be prevented
<br />{rom receiving such salary by reason of the fact that he is
<br />also a director of the corporation.
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<br />ARTICLE V
<br />CONTRACTS, LOANS, CHECKS
<br />AND DEPOSITS
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<br />1, CONTRACTS,
<br />The directors may a\Jthorize any officer or
<br />officers, agent or agents, to enter into any contract or
<br />execute and deliver any instrument in the name of and on
<br />behalf of the corporation, and such a!Jthority may be
<br />general or confined to specific instances, .
<br />2, LOANS.
<br />No loans' shall be contracted on behalf of the
<br />corporation and no evidences of Indebtedness shall be
<br />issued in its name unl,ess authoriz~ by ~ resoh,ltion of
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<br />. -'-'~ '..'~:J~,.;,~ III
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