146 



CALIFORNIA CURED FRUIT ASSOCIATION. 



4. In addition to the liability of the Association as agents and factors, 

 the Board of Directors has power to contract an indebtedness in any 

 sum not exceeding two hundred thousand dollars in the aggregate, and 

 for the purposes of the Association may borrow money not in excess of 

 said sum of two hundred thousand dollars, and may issue any and all 

 notes and bills and other evidences of indebtedness therefor, and may 

 hypothecate and mortgage any of the property of the Association as 

 security for the sums so borrowed. The amounts of such indebtedness, 

 the terms and purposes thereof, shall be entered in the minutes of the 

 proceedings of the Board, and the note or obligation of the Association 

 evidencing the same, and all contracts and security given therefor, shall 

 be signed by the President and Secretary, and as such shall be binding 

 upon the Association; and any andall indebtedness in excess of two 

 hundred thousand dollars shall be absolutely void as against the 

 Association. 



ARTICLE V. Duties of Directors.— It shall be the duty of the 



Directors: 



1 . To cause to be kept a complete record of all their minutes and acts, 

 and of the proceedings of the members, and present a full statement at 

 the regular annual meeting of the members, showing in detail the assets 

 and liabilities of the Association, and generally, the condition of affairs. 

 A like statement, less in detail, shall be presented at any other meeting 

 of the members on demand of at least one third of the members of 

 the Association. 



2. To supervise all officers, agents, and employes and see that their 

 duties are properly performed; to cause to be issued to the members ? 

 certificates of membership to each member of the Association, the rights 

 and interests of all members to be equal, and no member can ever acquire 

 any greater interest in the Association than any other member has. 



ARTICLE VI. Officers.— All officers shall be elected by the Board 

 of Directors, except the President and First Vice-President, who shall 

 be elected by the members as herein provided. The Second Vice-Presi- 

 dent shall be elected from the Board of Directors. The compensation of 

 the Directors shall be fixed by the members of the Association, and of 

 all other officers and employes, except the Executive Committee, shall 

 be; fixed and determined by the Board of Directors. 



ARTICLE VII. The Board of Directors shall, at their first regular 

 meeting, elect one of their number to act as Second Vice-President, who, 

 if the President and First Vice-President shall be unable for any reason 

 to act, shall take the place of the First Vice-President and perform his 

 duties, and if at any time the President and both Vice-Presidents shall 

 be unable to act for any reason, the Directors shall appoint some other 



