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<br />the directors, Such authority may be general or confined
<br />to specific instances,
<br />
<br />3. CHECKS, DRAFTS, ETC.
<br />All cl'lecks, drafts or other orders for the payment
<br />of money, notes or other evidences of indebtedness
<br />issued in tl'le name of the corporation, shall be signed by
<br />such officer or officers, agent or agents of the
<br />corporation and in such manner as shall (rom time to time
<br />be determined by resolution of the directors.
<br />
<br />4, DEPOSITS,
<br />All funds of tl'le corporation not otherwise
<br />employed shall be deposited (rom tim'e to time to the
<br />credit of the corporation in such banks, trust companies
<br />0( other dep)Jitories u lhe directors r:nay select.
<br />
<br />I
<br />
<br />~
<br />1, CERTIFICATES FOR SHARES, ,
<br />Certificates representing shares of the corporatk>n
<br />shall be in such, form as shall be determined by the
<br />directors. Such certificates mall be sign~ by the
<br />President and by the Secretary 0( by wen other ollie",.
<br />authorized by law and by the directors. All certificiltes (or
<br />shares shall be con5eCutlvely numbered or otherwise
<br />identified. The name and address of the stockholders, the
<br />number of shares and date of issue, shall be entered on
<br />the stock triil.nsfer books of the corporation. All
<br />certifiutes surrendered to the corporation for transfer
<br />shall be cancelled and no new certificate "'all be iuued
<br />until the former certifiCMe (or oil like number of .....ares:
<br />have been 5Urrendered and c~elled, eKcept lhat in a.~
<br />of.. lost, destrO)led Of mutilated certificale a new one""y
<br />be issued therefor upon such teems and indemnity to the
<br />corporation as the directors may prescribe. lost
<br />certificates may also be iss~ pursuant to S7-42-l1J,
<br />C,R,S" as amended,
<br />
<br />ARTICLE VI
<br />CERTIFICATES FOR SHARES
<br />AND THEIR TRANSFER
<br />
<br />2. TRANSFElS OF SHARES,
<br />(a) Upon surrender to the corporation or the
<br />transfer agent of the corporation o( a. certificate (or
<br />, shares duly endorsed or accompanied by proper
<br />evidence of 5Uccession, assignment or authority to ~
<br />transler, it shall be the duty of the corporation to issue a
<br />new certificate to lhe person entitled thereto, and cancel
<br />lhe old certificale; every such transfer shall be entered on
<br />lhe transfer book of the corporation which shall be kept
<br />at its principal o(fice.
<br />(b) The corporation shall be entitled to treat the
<br />holder 01 record of any share as lhe holder in (act
<br />thereoft and, accordingly, sh,U not be bound to
<br />recognize any equitable or other claim lo or interest in
<br />JUCh share on the part of any oth<< person whether or
<br />not it shall have expenses or other notice thereof, except
<br />as expressly provided by the laws of this state,
<br />(c) The oflicers of lhe Com~ny shall nol issue
<br />certificates (or shares in the Company (or less than one
<br />(1), except that certificates shall be issued in lieu of shares
<br />of stock o( less Ihao one (1) which Were in exislence on
<br />December 11, 1972. This provision of the bylaws shall
<br />
<br />be liberally construed to prevent the issuance of
<br />fractional shares of slock in the company.
<br />
<br />ARTICLE VII
<br />FISCAL YEAR
<br />
<br />The fiscal y$r of'the corporalion shall begin on
<br />the 1st day of November in each year.
<br />
<br />ARTICLE VIII
<br />ORGANIZATION AND DIVIDENDS
<br />
<br />This corporation is organized as a nonprofit
<br />corporation eKdusively (Of' irrigation purposes, The
<br />directors may not declare or pay dividends on the
<br />\Xltst~ding stlares of the corporation,
<br />
<br />ARTICLE IX
<br />SEAl
<br />
<br />The directors shall provide a cotpotale seal which
<br />shall be circular in (()(m and shall have inscribed thereon
<br />the name of the corporation, the state o( incorporation,
<br />yea1 of incorporalion and the words, .Corporate 591..
<br />
<br />ARTICLE X
<br />WAIVER OF NOTICE
<br />
<br />Unless _... provKled by law, ..1>0. "'.... ony
<br />notice is required 10 be given lo any stockhOJdet Of
<br />director of the corporation under the provisions of Ifwoee
<br />bylaws or under the provisions of the articles of
<br />incorporation, a waiver thereof in writing, fi8ned by the
<br />person or persons entitled to such notice, whether
<br />before or after the time stAted therein, shall be deemed
<br />equivalent to lne giving of such notice,
<br />
<br />ARTICLE XI
<br />AMENDMENTS
<br />
<br />These bylaws may be altered, amended or
<br />repealed and new bylaws may be adopted by a vote of
<br />the stockholders representing two.lhirds (2/3) 0( all the
<br />,shares represented at any annual stockholders' meeting
<br />or at any ,special stockholder,' meetins when the
<br />proposed amendment has been set 0U;t. in the notice of
<br />wen ..-i08'
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