122 Report of State Board of Horticulture. 



products, after deducting all expenses accruing against said products after 

 delivery to the association. 



24. Refund of the Handling Charge. — Out of said handling charge, a 

 sum, not to exceed twenty per cent of the same, shall be set aside as a 

 reserve fund, to be used as the needs of the business require, but not 

 for current expenses. At stated intervals, as often as once a year, the 

 remainder of said handling charges, after also deducting a sum sufficient 

 to pay the expenses of conducting the business, including a dividend of 

 not to exceed six per cent on the stock, shall be distributed among the 

 members whose products were handled, in proportion to the proceeds 

 received by them during the year, for their products. 



25. Collecting Stock Subscriptions. — The directors shall make calls 

 upon subscriptions to the capital stock, until the same shall be fully 

 paid, said calls to be timed in accord with the terms of subscription. All 

 calls shall become delinquent, after thirty days from the time the same 

 shall become due under the call. Said stock shall then be declared, and 

 shall become, delinquent and forfeited to the association. 



26. Annual Audit by Expert. — The directors shall cause the books 

 and accounts of the association to be audited, once each year, by a 

 competent accountant, not connected with the association in any capacity. 

 His report shall be filed with the secretary, ten days before the annual 

 stockholders' meeting. 



27. Report at Annual Meeting. — The directors shall cause to be kept 

 a complete record of all their meetings and transactions. They shall 

 present a complete summary thereof at the annual meeting of stockholders, 

 showing in detail the assets and liabilities and general condition of the 

 association, showing also the amount of each fruit and farm product 

 handled, and the dispositions made of the same. 



28. Reports at Special Meetings. — They shall present a similar report, 

 at any other stockholders' meeting, when requested so to do, in a written 

 request, signed by a majority of the stock, and filed with the secretary 

 not less than five days before such meeting. 



Article VI. — Officers and Their Duties. 



1. President. — The President shall preside over all meetings of the 

 stockholders, directors and executive committee. He shall be, ex-officio, 

 a member of all other committees. He shall sign all certificates of stock, 

 evidences of indebtedness, contracts and other instruments in writing, 

 and all Orders on the treasurer for disbursement of any association funds. 

 He shall sign all calls for stockholders' and directors' meetings, and shall 

 have, subject to the advice of the directors, general supervision and 

 management of the affairs of the association. He shall discharge such 

 other duties as generally devolve upon a President. 



2. Vice-President. — The vice-president shall perform all the duties of 

 the president during the latter's absence or inability to act. 



3. President Protem. — In case both the president and vice-president 

 shall be temporarily unable to act, the Board of Directors shall appoint 

 from their own number some person to act as president protempore, 

 whose duties shall be to perform the functions of the president during 

 such temporary inability. 



4. Secretary. — The secretary shall keep an accurate account of the 

 proceedings of the stockholders and of the directors. He shall keep the 

 corporation seal, records and papers of the Corporation, fill and counter- 

 sign all certificates of stock issued, and make the corresponding entry in 

 the stub of the stock book, and shall affix the corporate seal to all papers 

 requiring the same. He shall countersign all orders on the treasurer 

 for disbursement of corporate funds, and discharge such other duties as 

 pertain to his office. 



