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<br />corporation, or the By-Laws, or State Laws applicable thereof and the <br />rules and regulations established thereunder. <br /> <br />SECTION III. To Take Legal Proceeding. The Board of Directors <br />shall have the power, in the name of the company, to prosecute, defend <br />and compromise all law suits, to make all contracts in the name of the <br />company necessary and proper, for the conduct of the affairs and the <br />carrying on of the business of the company, subject to all limitations <br />and regulations prescribed by the Articles of Incorporation or by the <br />By-Laws. <br /> <br />SECTION IV. To Make Ass~ssments. <br />shall have the power to estimate, make <br />against the stockholders of this company. <br /> <br />The Board of Directors <br />and levy all assessments <br /> <br />ARTICLE VI <br />DUTIES OF DIRECTORS <br /> <br />SECTION I. <br />cause to be kept, a <br />times remain in the <br />hours be open to the <br />authorized agents. <br /> <br />Minutes, The Board shall keep or <br />record of its transactions which shall at all <br />office of the company and shall, during office <br />inspection ot the shareholders or their properly <br /> <br />SECTION II. Report to stockholders. The Board at each <br />annual meeting of the stockholders and at any special meeting when re- <br />quired by such meeting, shall make a full and true report of its <br />affairs, business, assets and liabilities of the company, so as to <br />show the true condition of its affairs. <br /> <br />SECTION III. Supervision. The Board shall <br />supervise the business of the company, it agents and employees in re- <br />gard thereto, and shall see that all books are kept and all reports <br />and statements are made and filed which are, or may be required by <br />law. <br /> <br />SECTION IV. Determine Complaints. <br />and determine complaints of shareholders and <br />service or improper service of distribution <br />performance of duty by any employee of the <br />distribution of water. <br /> <br />The Board shall hear <br />water purchasers of non- <br />of water or of improper <br />company relative to the <br /> <br />ARTICLE VII <br />OFFICERS <br /> <br />SECTION I. Officers. The executive officers <br />of this company shall be a president, vice-president, secretary- <br />treasurer, who shall be elected by the directors and shall hold office <br />for one year and until their sUCCessors are elected and qualified. In <br />case of vacancy by reason of death, removal, disqualification or <br /> <br />- 4- <br />