34 



BULLETIN 860, IT. S. DEPARTMENT OF AGRICULTURE. 



No. 10. Loan Guaranty. — This form is suggested as a substitute for the 

 loan note (Form No. 10) when it is found desirable to have all of the mem- 

 bers sign the same instrument. In making changes in this form care must 

 be taken that each individual member is not made jointly and severally liable 

 with the cosigners for the full amount of the loan liability, or the purpose of 

 the contract will be defeated. 



Form No. 1. 



CAPITAL STOCK SUBSCRIPTION CONTRACT. 



We, the undersigned, for the purpose of forming a cooperative association at 



to be incorporated under the laws of the State of with an 



authorized capital of § and to be known as [The Grain Growers' Co- 

 operative Association] or by similar name, hereby severally promise and agree to 

 become stockholders in a corporation hereafter to be organized and to take the 

 number of shares of stock placed opposite our respective names at the par value of 



$ each, paying cash therefor upon demand when the corporation shall be 



organized and when at least $ shall have been subscribed. 



Names. 



Addresses. 



Shares. 



Amount . 



































Form No. 2. 



MINUTES OF MEMBERS' FIRST MEETING. 



Pursuant to a written call and waiver of notice signed by all of the incor- 



porators, the first meeting of the stockholders and members of [The 



Grain Growers' Cooperative Association] was held at [here state time and 

 place of meeting]. 



Meeting was called to order by and on motion by , 



was elected chairman, and was appointed secretary. 



The secretary presented and read the call and waiver of notice, pursuant 

 to which the meeting was held. On motion it was ordered to be entered in 

 the Book of Minutes following these minutes : 



The following persons were present : [Names of those present at the first 

 meeting]. 



The chairman presented a [certified copy of the Certificate of Incorporation 

 or Charter as the case may be] and stated that the original had been [here 

 stnte time and place of filing or other procedure]. On motion it was ordered 

 (hat same be entered on Ihe first pages of the Book of Minutes. 



The secretary presented a form of by-laws prepared and recommended by 

 I committee or counsel], which was read article by article, and as a whole, 

 unanimously adopted and ordered to be entered in the Book of Minutes imme- 

 diately following the [Certificate of Incorporation or Charter]. 



Next was conducted the election of [seven] directors as provided for in the 

 By-Laws, Messrs. and being first duly appointed inspec- 

 tors of election. All the stockholders having voted by ballot cast in person, the 

 inspectors reported results as follows: 



