LEGAL PHASES OF COOPERATIVE ASSOCIATIONS. 63 



Aeticle III. — Membership. 



Section 1. Any bona fide grower of farm products, in the territory tributary 

 to the shipping points of this association of good character may become a member 

 of the association by agreeing to comply with the requirements of these by-laws. 



Sec. 2. Upon entering into such an agreement and the payment of a member- 

 ship fee of dollars, the association shall issue a certificate of membership 



to the applicant. Such certificate of membership shall not be transferable. 



Sec. 3. The violation of these by-laws, or any that may hereafter be adopted, 

 or of any contract entered into by the association with a member, shall con- 

 stitute a sufficient cause for the expulsion or suspension of such a member from 

 the association. No member shall be expelled from or suspended by, or be 

 deprived of the benefits of the association except by a two-thirds vote of the 

 members present at any annual or special meeting following the mailing of a 

 notice to each member in accordance with these by-laws, specifying that the 

 matter of the expulsion or disciplining of such member is to be voted on at 

 the meeting. The member shall have charges preferred against him at least 

 (10) days in advance of such meeting and shall have an opportunity to present 

 witnesses and to be heard in person and by counsel. Whenever the board of 

 directors, after a hearing, determines that a member has ceased to be a bona 

 fide producer of the products handled by the association, his membership may 

 be terminated and his membership certificate canceled. 



Note. — There may be conditions that make it wise to limit mem- 

 bership to those who have been recommended by the board of direc- 

 tors, or who have received a two-thirds vote of the members present 

 at any meeting. In some localities there are persons who can not 

 work in harmony with their neighbors and for this reason would 

 make undesirable members. 



Article IV, — ^Fiscal Year, Meetings. 



Section 1. The fiscal year of the association shall commence (January 1) 

 and end on (the 31st of the following December). 



Note.— The fiscal year should end after the close of one season's 

 business and before the opening of the next. Thus, a grain elevator 

 usually has its fiscal year ending in spring or early summer, when 

 practically all of the work of handling the previous season's busi- 

 ness has been finished. 



Sec. 2. The annual meeting of the association shall be held at the office of the 

 association, in the town of (Hilton, N. Y.) on the (second Monday in January) 

 of each year, at (10 o'clock a. m.). 



Note. — The annual meeting should be held shortly after the be- 

 ginning of the fiscal year. Previous to this meeting all transac- 

 tions of the fiscal year just ended should be closed, the books 

 audited and the annual reports of the officers prepared. 



Sec. 3. Special meetings may be called at any time by the president. He shall 

 call such meetings whenever (10) members shall so request in writing. 



Sec. 4. Notice of the annual m"eeting shall be mailed by the secretary to each 

 member at least (one week) previous to the date of the meeting and such notice 

 shall be published in a local newspaper not less than (one week) previous to the 

 date of meeting. At least (five) days before the date of any special meeting the 

 secretary shall mail notice of such meeting to each member, which shall state 

 the nature of the business to be transacted at such meeting. 



