Viewing page 193 of 224

This transcription has been completed. Contact us with corrections.

Article 2, Continued.

Sec. 5.  A majority in interest of all stock issued and outstanding and entitled to vote shall constitute a quorum for the transaction of any business. Though less than a quorum be present, any meeting, annual or special, may, without further notice, be adjourned to a subsequent date or until a quorum be had.

Sec. 6.  Stockholders who are entitled to vote shall have one vote for each share of stock owned by them. Stockholders may vote either in person or by proxy. No proxy which is dated more than sixty days before the meeting named therein shall be accepted, and no such proxy shall be valid after the final adjournment of such meeting.

Article 3.

Sec. 1.  The officers of the corporation shall be a board of three directors, a president, vice president, treasurer, clerk, and such other officers as the board of directors deem advisable.

Sec. 2.  The board of directors, the treasurer and the clerk shall be elected annually by the stockholders by ballot. The president and vice president shall be elected annually by and from the Board of Directors. The manner of choosing and appointing all other officers and agents shall be at the discretion of the board of Directors.

Sec. 3.  All officers shall hold office for one year and until their successors are chosen and qualified.

Sec. 4.  Vacancies in any office shall be filled by the board of directors.

Article 4.

Sec. 1.  The Board of directors shall meet as often as the needs of the corporation may require. They may fix the time and manner of giving notice of the meeting and may determine the form and contents of the notice to be given. Any meeting of the board of directors shall be a legal meeting, if each director waives, by a writing which is filed with the records of the meeting, such notice.