HomeMy WebLinkAbout0102 . (1) clection of directat~s noed nat be by ballot unYees the
By-Laws ~o provide,
(2~ The Baard of Directors ahall have Chs pvwer to:
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_ ~ (a) Without the asaent or v~te ot the stockho:.dcr~, to
make, a~ter, acr~nd, change, add ta, or repeal the
By-Lawa of this Corporn~ion; to tix and var~r the a~:~unt
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to be reaerved for any proper purpoae; to ~uthorize
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at~d ,cuusa to be executed martgages and lien~ upon ~ '
any part of the propert•~ o~ this Qarporation _ -
pravided it be subatantially let~s than all; to
~ - determine the use +~nd di~position of any surplus or -
. ~net profits and to fix the times .for the declaratian
~ and psyment of dividenda. -
~ ' (b) To determine, fr.om time yo times ~hettier, and_to what _
extenC, and at.wha~ timea and palces, ana under what
.candf~ions and regulaCions, the accounts ar.~3 baoka af J
this Corporation (~ther than the s~ack ledger) c,r any .
part of tt~em, shall be open to the insgecCion of the
- stockholder~. ~ , -
~ - ~3; 'i'h:Q -~i :~~i-~=s, 4haii ~'.i~cretion may submit any contr~cC _ _ -
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~ or act for ap~roval or ratification at any annual ir~~ting ~ ~
of the stockholders or at any meeting og the stockholders -
callec~ £or the purpose of consideration of any such tact or -
~ contract., and any contract or act that shall be approved or
~ ' be ratified by the vo~e of the holders of a~ajority of the ~ _
stock of this corpor3tion which is represented in p~raon or - j
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. by proxy at such meeting and entitle~ to vote thereat,
(provided that a lawful quorum of atackholders be there
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- represented in person ur by proxy) eha11 be as valid and r
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_ as binding upon the corporation and upon ~11 the stockholde rs; €
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~ as fihough it had been approve~ or ratified by every _ ~
~ sto~khol.c~~r cf the corporaCion. " ,
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_ - . -7- BOQK~c)~ PAGf , .~i,~~ -
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