Laserfiche WebLink
<br />Page -4- <br /> <br />Section 9: Auditing Committee <br /> <br />The Board of Directors may appoint an auditing committee or may engage the <br />services of an auditor, whose duty it shall be, with such assistance as may <br />be necessary, to audit the accounts, books and records of the company and <br />make a report thereon in writing to the Board of Directors and to the next <br />succeeding meeting of the stockholders. <br /> <br />Section 10: Employees <br /> <br />The Board of Directors may hire a ditchrider and other employees deemed <br />necessary and determine the length of employment and the wages they receive <br />and may discharge any employee at any time. <br /> <br />ARTICLE VI - STOCK CERTIFICATES <br /> <br />Section 1: Stock Certificates <br /> <br />All the owners of capital stock shall be entitled to have issued to their <br />names and to have delivered to them certificates thereof duly signed by the <br />President and Secretary and the seal of the corporation affixed thereto. <br /> <br />Section 2: Transfers <br /> <br />Transfers of stock certificates shall be made only upon the books of the <br />company by the stockholder in person or by his attorney appointed under a <br />)ower duly executed and filed with the Secretary of the company, and no <br />transfer shall be allowed until the old certificate has been surrendered to <br />the Secretary and by him cancelled and a new certificate issued thereof, <br />and all assessments levied on the stock must be paid in full. <br /> <br />Section 3: Lost Certificates <br /> <br />The Board of Directors may direct that a new certificate of stock be issued <br />in place of any certificate theretofore issued by the company and alleged to <br />have been lost or destroyed; and when authorizing the issuance of such new <br />certificate the Board may, in its discretion; require the owner or holder of <br />such lost or destroyed certificate, or his legal representative, to give the <br />company a bond in such sum as the Board of Directors may require, as indem- <br />nity against any claim that may be made against the company on account of <br />such lost or destroyed certificate. <br /> <br />Section 4: Miscellaneous <br /> <br />Any person acquiring stock by purchase and transfer either at public or <br />private sale shall be subject to all liabilities incurred and assumed by the <br />other stockholders and to all the provisions of these by-laws. <br /> <br />Section 5: Sale of delinquent stock <br /> <br />At the option of the Board of Directors the stock of any stockholder who has <br />~ailed to pay any assessment or assessments or any part thereof, may be sold <br />after thirty days written notice and demand that the same be paid, said <br />notice may be served upon the stockholder either personally or by mail and <br />the certificate of the Secretary of the fact of such service shall be <br />sufficient evidence thereof. After the expiration of the 30 days, the <br />