THE BEE-KEEPERS' REVIEW 



105 



ARTICLE VIII 

 The dii'ectors of said coriDoration, 

 eithei- by By-Laws or otherwise, may 

 provide fox' beneficial members m said 

 corporation. A beneficial member sliall 

 be a resident either of the tstiite of 

 Minnesota, Iowa or Wisconsin, and 

 shall be a person who handles his 

 honey and honey products throuj^h tne 

 medium of this association, and wlio 

 shall pay such beneficial membership 

 fee as snail be prescribed by the said 

 directors, hut a beneficial member shall 

 have no vote in the association for 

 any purpose. 



ARTICLE IX 

 The profits of the earning's of said 

 association shall be distributed to tliose 

 entitled thereto by the By-Laws, in 

 the proportions and at the times tliere- 

 in prescribed, which shall be as often 

 as once in twelve months, and such 

 net profits, after paying a fair percent- 

 age as a dividend on the stock of the 

 corporation, shall be divided equitably 

 among the stockholders and the bene- 

 ficial members in accordance with the 

 By-Laws of said corporation. 



ARTICLE X 



This certificate may be amended at 

 any annual meeting of the stockholders 

 or at any special meeting of the stock- 

 holders called for that purpose, by a 

 three-fourths vote of the stockholders 

 present and voting at any such meeting 

 and if such amendment is to be made 

 at a special meeting, then at least 

 tuirty days' notice of such meeting, 

 specifying the purpose thereof, shall be 

 given to each stockholder at his ad- 

 dress as it appears on the books or 

 records of the association. 



IN WITNES'^ AVHEREOF, The said 

 incorporators have hereunto set their 

 hands and seals this Sth day of June, 



191-1. 



L F SAMPSOX, Excelsior. Minn. 



P .T. DOLL, Minneapolis, Minn. 



L D LEOXARD. Minneapolis, Minn. 



L M BLTSSEY, Minneapolis, Minn. 



FH^AXCIS J ACER, St. Anthony Park, 

 Minn. _ . ,,. 



J. A. HOLMBERG, St. Paul, Minn. 



P. W. RAY, Minneapolis, Minn. 



BY-LAWS 



OP 



"TRI-STATE HGNEY EXCHANGE, 



IXCORPORATED." 



SECTIOX I 

 The Board of Directors of this asso- 

 ciation shall have charge of all the 

 business of this association, and siiall 

 from their number elect a President, a 

 Secretary and a Treasurer, wlio shall 

 serve as officers of the association. The 

 officers named in the Articles of In- 

 corporation shall serve as such until 

 the first annual meeting on the first 

 Tuesday in December, 1914, and until 

 their successors are elected and qual- 

 ified. The election of officera sliall oc- 

 cur each year at a meeting of the di- 

 rectors to be held immediately after the 

 annual meeting and on the 'same day. 



SECTIOX II 



The President shall preside at all 

 meetings of the a-ssociatirin and of the 

 Board of Directors and shall have gen- 

 eral supem-ision of all the affairs of 



the association, and shall sign all deud.s 

 and stock certificates, ana contracts 

 other than ordinary mercantile contracts 

 which may be signed by the General 

 Manager. 



In the absence or disability of the 

 President, he shall select a member of 

 the Board of Directors to act in his 

 stead. 



SECTIOX III 

 The Secretary shall keep a full and 

 true record of the meetings and pio- 

 ceeuings of tne association and of tne 

 Board of Directors, and shall witii the 

 president sign all stock certificates and 

 Keep a record of all stock certificates 

 and of all transfers of tlie same. His 

 stock record snail show the name and 

 address of each stockholder, and such 

 address shall be deemed the true ad- 

 dress for the purposes of sending no- 

 tices and for all other purposes of 

 tnis coiporation. 



SECTIOX IV 



The Treasurer shall keep a record of 

 tne moneys received for stock or goods 

 sold; shall sign all orders for money 

 to be paid out and all notes and cnecks; 

 and shall report to the Board of Direct- 

 ors whenever requested; and shall 

 make a full account and complete re- 

 port for the preceding year to the as- 

 sociation at each annual meeting. 

 SECTIOX V 



The Board of Directors may appoint 

 a Manager, who, under the direction of 

 me Board of Directors, shall have ac- 

 tive charge of the trading business of 

 the association, and to deposit the same 

 marketing of honey, bees, wax, or 

 honey packages, and shall have author- 

 ity lo collect and receive money due 

 the association, and to deposit the same 

 forthwath in such bank as the Treasur- 

 er may direct for the credit of the as- 

 sociation. He shall also countersign with 

 the Treasurer all checks, notes and 

 orders for money to be paid, and shall 

 have authority to sign such ordinary 

 contracts with trading customers as 

 the Board may determine to use. 



SECTION VI. 



The Treasurer and Manager shall 

 give bonds to the association for the 

 faithful performance of their duties, in- 

 cluding a full accounting, whenever call- 

 ed for, in such sums and with sucn 

 surety as the Board of Directors may 

 designate. 



SECTIOX VII 



The Treasurer and Manager shall re- 

 ceive such compensation for their ser- 

 vices as may be decided on from time 

 to time by the Board of Directors. 



SECTION VIII. 



An active member of this association 

 is one who appears on the records of 

 this association as a stockholder own- 

 ing one or more shares of stock in 

 this association. 



SECTION IX 



Any person who produces honey in 

 Minnesota, lowa, or Wisconsin may 

 become a beneficiary member by appli- 

 cation to the Secretary of this associ- 

 ation and paying the annual dues ot 

 one dollar. Any person who sells honey 

 produced in Minnesota, Iowa or Wiscon- 

 sin to this association under the graa- 

 ing rules of the association automatic- 

 ally becomes a beneficiary member, and 



