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<br />rage 32 '
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<br />THE ORMiD vrB;:i I;mIG:~Tlmi CGUP/\1;Y
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<br />ARTICLE IV - BCAJiD Of DIH~crORS
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<br />S~CTION I Direotors Ihnll hold ortloo tor one fear and until their
<br />',.." ,'- ,.,..."", auooeesora ara eleoted and qunl1tied, and all vaoanolee
<br />',., sbllll be tilled by the voto at tbe majority or tbe re-
<br />malnins membere of the board.
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<br />The board ot direotors shall dete~lnc whether or not
<br />any ottioer 01' tbe oompany shall rQoelve a ealary or
<br />othar compensation tor his servioos and tho amount and
<br />manner at the poymont thoreot,
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<br />SECTION III The board at direotors sball have tbe powor to require'
<br />any oftioer, agent, olork or other employee bond with
<br />8eouritiea ln SUOII "mounts liS thoy thlnk proper, tor
<br />the proper disoharge at their dutiee, and shall hove tull
<br />oontrol at all tho oompnr~ts buslness, approve ell bonds;
<br />direot the exsoutlon of "11 works, oon~raot tor the same,
<br />audit and pase upon ,nIl bills, direot tho amount Of toroe
<br />to be employed, determine "hen end "..bat work shall be'
<br />done, what property, maobinery eto" aholl be purchasod
<br />or eold, or the board mey oppoint on ngont to pertorm
<br />euoh at the dut100 ns may be deemed best; and m~y employ
<br />a ditoh superintondent to oversee to the distribution at
<br />water, end the oore, repair and oain~onanoe or tho dltohes
<br />ot the oompany, nnd any ond oIl other needed help snd em-
<br />ployeesl and eholl tix and detsrmino the ealary or 0010-
<br />poneatIon ot nll employees at the oompony and the period
<br />or thair employcent snd tho method of their poyment.
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<br />ARTICU: V - ill',1;CI,.L ~':El'Il1GJ or STOCKHOLDERS
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<br />Speoial meetings of the stookholders of' the oompeny may
<br />be oelled by tho dlreotors, by rosolut10n pas sod by the
<br />1Il830rity of' th" board at noy regular or speoial moeting
<br />ot eold boord, or upon th" wrltten request Of stook-
<br />holdere at tho oompany representing one-tbird (1/3} or
<br />all the stock or tbe oompany thon ioeued or subsorlbed
<br />tor, but no suoh speoial mooting shall b6 held until
<br />atter publio notloe or tho time and plaoo nnd purpoee
<br />01' sucb spoohl !:Jeeting olwll havo been publiohod aM
<br />glven aooording to low
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<br />ARTICI~ VI - STCC~
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<br />S,CTrcN I Tbe share. of stook of thIn company shall be aoeienablo
<br />at ony tIme, and transferable upon the books of the "010-
<br />p;>ny, provlded nll'ossaeso:onte on tho namo hove been
<br />tully paid nnd, provided, rurther, that no oertlfloote
<br />Of stook sholl be transferabls While tho assIgnor at
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<br />SECT 1011 II
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<br />S,:CTION IV
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<br />Monthly meetings of the board may be held the ssoond
<br />Saturday of 8"oh month at ths ol'floo 0 f the oompony, at
<br />such hour and plaoo, ~lthin tho sald olty, as may be de-
<br />signated by a written or v~bel notioe given to eooh di-
<br />reetor, by the seoretary or preSIdent, ~hen tbere Is
<br />businese to be transeoted on such day. ~eetlnge' at the
<br />board may be held on any day between the monthly meet-
<br />ings when tho business of the oompany requIres them, on
<br />same nctioe being given di~eotors as per monthly ,meetinge.
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