14 BULLETIN 860, U. S. DEPARTMENT OF AGRICULTURE. 



representative, the book value of same together with any dividends or refunds 

 due and unpaid, or it may elect to transfer such shares to his heirs or legal 

 representatives. 



Note. — For legal effect, sections 2, 3, and 4 above depend entirely upon the 

 charter provisions and the laws of the State in which the Association is incorporated. 

 They are suggested here as possible means of safeguarding cooperative principles and 

 are to be incorporated into or excluded from the By-Laws upon the advice of com- 

 petent legal counsel. 



Sec. 5. Annual meeting. — The annual meetings of the members of this Asso- 

 ciation shall be held in the town of , State of on the [last 



in ] of each year at one o'clock p. m., if not a legal holiday, but if a legal 



holiday on the next business day following. 



Note. — A number of companies have determined upon Saturday for the annual 

 meeting, but it is suggested that some other day may be better, since among many 

 farmers Saturday is given to shopping and other business affairs, making it difficult 

 to secure an interested attendance. 



Sec. 6. Special meetings. — Special meetings of the members may be called at 

 any time by resolution of the Board of Directors and shall be called at any time 

 upon the written request of [a majority] of the members. Such request shall 

 state the time and place of meeting and the object of meeting. 



Sec. 7. Notice of meetings. — Written or printed notice of meetings for every 

 regular or special meeting of the members shall be prepared and mailed to the 



last known post-office address of each member not less than days before 



a regular meeting, nor less than days before a special meeting, and if for 



a special meeting such notice shall state the object or objects thereof and the 

 time and place of meeting. 



Sec. 8. Quorum. — A quorum shall consist of of the members qualified 



under section 1, hereof, represented in person. A majority of such quorum 

 shall decide any question that may come before the meeting, except as otherwise 

 provided. 



Note. — When the organization is small and compact, the proportion required for 

 a quorum may be larger than in a large organization which includes considerable 

 territory. 



Sec. 9. Proxies. — Voting by proxy shall not be permitted, but absent members 

 may vote on specific questions, other than the removal of directors, by ballots 

 transmitted to the Secretary of the Association by registered mail, and such 

 ballots shall be counted only in the meeting at the time at which such vote is 

 taken. 



Sec 10. Order of business. — The order of business at the annual meeting and 

 so far as possible at all other meetings of the members shall be : 



(1) Calling of roll. 



(2) Proof of due notice of meeting. 



(3) Reading and disposal of any unapproved minutes. 



(4) Annual reports of officers and committees. 



(5) Election of directors. 



(6) Unfinished business. 



(7) New business. 



(8) Adjournment. 



ABTICLE IV. — DlKECTOKS AND OFFICERS. 



Section 1. Election of Directors. — The Board of Directors of this Associa- 

 tion shall consist of [seven] members. The members of the first Board of 

 Directors shall hold office until the first annual meeting of the members, when 



