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<br />. . <br /> <br />(b) It shall be the duty of the Board of Directors: <br /> <br />(i) To cause to make public a complete record <br />of all their meetings and acts, and also the proceed- <br />ings of the stockholders, present full statements <br />at the regular annual meeting of the stockholders <br />showing in detail the assets and liabilities of the <br />company and the condition .of its affairs in general. <br />A similar statement shall be presented at any other <br />meeting of the stockholders when thereto previously <br />requested by persons representing at least one-tenth <br />(1/10) of the capital stock of the company. <br /> <br />(il) To supervise all the acts of "the officers <br />and employees, require the secretary and treasurer <br />to keep full and accurate books of accounts and pre- <br />scribe the form and mode of keeping such books. <br /> <br />(ill) To cause to be issued to the persons en- <br />titled thereto certificates of stock according to the <br />several interests not exceeding in the aggregate the <br />capital stock of the company as to such class thereof. <br /> <br />, <br /> <br />(iv) To allo~ assessments.to'be paid in labor <br />when convenient to the parties concerned, the interests <br />of the company permitting. <br /> <br />(c) <br />valid without the <br />tion of the Board <br /> <br />No contract by any officer of the company shall be <br />previous authorization or the subsequent ratifica- <br />of Directors. <br /> <br />Section 13. Construction Committee. The Board of Directors <br />shall at their first regular mee~ing after their annual shareholders' <br />meeting elect three of their members, one of whom shall be the presi- <br />dent, to act with the superintendent as a construction committee, <br />which shall have full charge of all construction and repair work on <br />the irrigation system. <br /> <br />ARTICLE IV <br /> <br />Officers and Aqents <br /> <br />Section 1. General. The officers of the corporation shall <br />be a president, one or more vice presidents, a secretary and a <br />treasurer. The Board of Directors may appoint such other officers, <br />assistant officers, committees and agents, including a superintendent, <br />a chairman of the board, comptroller, assistant secretaries and <br />assistant treasurers as they may consider necessary, who shall be <br />chosen in such manner and hold their offices for such terms and have <br />sucb authority and duties as from time to time may be determined by <br />the Board of Directors. The salaries of all the officers of the <br />corporation shall be fixed by the Board of Directors. 'One person <br />may hold any two offices, except that no person may simultaneously <br />hold the offices of president and secretary. In all cases where the <br />duties of any officer, agent or employee are not prescribed by the <br />by-laws or by the Board of Directors, such officer, agent or employee <br />shall follow the orders and instructions of the president. <br /> <br />Section 2. Election and Term of Office. The officers of . <br />the corporation shall be elected by the Board of Directors annually <br />at the first meeting of the board held after .each annual meeting of <br />the shareholders. If the election of officers shall not be held at <br />such meeting, such election shall be held as soon thereafter as Con- <br />veniently may be. Except as hereinafter provided, all officers shall <br />hold office for one year. Each officer shall hold office until the <br />first of the following to occur: until his successor shall h,"e been <br /> <br />-~ <br />