HomeMy WebLinkAbout0102 (1) Election of directors need not be by ballot unless the
By-Lawa so pro~•ide.
(2) The Board of Directors Hhall have the pa~rer to:
(a) Withoot the assent or vote of the etockholders, to
make, alter, amend, change, add to, or repeal the
By-Lawa of this Corporation; to fix ~nd vary the ar..~unt
to be reaerved for any proper purpoae; to authorize
and cauae to be executed mortgagea and liena upon
any part of the property of thie Corporation
provided it be aubstantially less than all; to
determine the use and disposition of ~ny surplus or
net profits and to fix the timee for the declaration
snd payment of dividends.
(b) To determine, fran time to time, Wt?ether, and to What
extent, and at what timea and palces, and under whaC
.conditions and regulations, the accounta and booke of
this Corporation (other thati the etock ledger) or any
part of them, shall be open to the inspection of the
stockhalders.
(3) The directors, in their discretion may eubmit any contract
~ or act for approval or ratification at any annual meeting
of the stockholders or at any meeting o~ the etockholders
called for the purpose of consideration of any such act or
contract, and any contract or act tha~t ahall be approved or
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be ratified by the vote of the holders of a mejority of the
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f stock of this corporation which is repreaented in pereon or
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~ ~ by proxy at auch meeting and entitled to vote theteat, >
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~ (provided that a lasrful quorum of stockholders be there
~ represented in person or by prrnry) shall be as valid and :
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~ as binding upon the corporation and upon all the stockholde rs, `
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~ as though it had been approved or ratified by every
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stockholdeY of the corporaCion.
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- _ ~oQK 239 ~A~ ~.02
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