1. The Management of this Corporation shall vest in a Board of Directors consisting of not less than five (5) and not more than nine (9) members

 

2. The Board of Directors shall be charged with the duty of making all rules and regulations for the conduct of all activities, unless delegated by it to a suitable committee. 

 

3. The officers of this corporation shall be a President, a Vice-President and a Secretary-Treasurer. 

 

4. Each director shall have one vote at all meetings of the Board of Directors.

 

5. The annual meeting of this corporation shall be held on the second Sunday of January in each year at the principal office or any other designated location, at which meeting the Treasurer shall render a full, true and complete report of all money received and expended since the making of the preceding report.  Special meetings of the Board of Directors may be held at any time, on call of the President by oral or written notice. 

 

6. No officer or director of this corporation shall receive any salary.

 

7. The financial support of this corporation shall be derived from gifts, donations, dues, ticket sales, entry fees and other sources.  No officer or director of this corporation, or other persons, firms or corporations shall receive any of the net profits of this corporation for their own personal benefit or profit by way of gift or dividend.  Dues may be established by the Board of Directors.

 

8. There shall be no specific qualifications of members and the membership shall not be limited as to number.  There shall be one class of member, namely, General.

 

9. These By-Laws may be amended or repealed by a majority vote of the Board of Directors at a regular or special meeting of the Board of Directors.

 

10. No director of this corporation may vote by proxy.  Upon demand by any director, the votes upon any question before the meeting shall be made by secret ballot. 

 

11. The order of business at any meeting of the Board of Directors shall be:
    1. Reading of minutes.
    2. Reports of committees.
    3. Reports of officers.
    4. Motions and resolutions.
    5. Miscellaneous business.

 

12.  The Board of Directors may delegate, from time to time, to suitable committees, any duties that are required to be executed during the intervals between the meetings of the Board and such committees shall report to the Board of Directors when and as required.  The Board of Directors may establish and enforce such rules, regulations, and requirements, as it deems necessary. 

 

13.  The directors of this corporation shall be elected at the annual meeting, by a majority vote of members present and in good standing, and shall hold office for one year and until their respective successors shall have been duly elected and qualified.  The officers of this corporation shall be elected by the directors at the regular meeting immediately following the annual meeting of members and shall hold office for one year and until their respective successors shall have been duly elected and qualified, provided however that all officers of the corporation shall be subject to removal at any time by the affirmative vote of a majority of the whole Board of Directors. 

 

14.  The meetings shall be governed by the Roberts Rule of Order.

 

15.  The Grants State Bank of Grants, Valencia County, New Mexico is

       hereby designated as the depository of the corporation.  Payments             

      shall be made by checks or check vouchers, all of which shall be signed

      by the President and Treasurer. 

 

16.  In the event there is a vacancy in the Board of Directors, then, and in that event, the Board of Directors, by a majority vote thereof, shall approve the person to so fill the vacancy. 

 

17.  The President shall be the chief executive officer of the company.     He shall preside at all meetings of members and of the Board of Directors.  He shall have general charge and supervision of the business of the corporation.  He may, along with the Secretary, sign and execute all authorized bonds, contracts or obligations in the name of the corporation.  He shall from time to time make such reports of the affairs of the corporation as the Board of Directors may require and shall annually present a report of the preceding years business to the Board of Directors at their meeting immediately preceding the annual meeting of the members.  He shall do and perform such other duties as may be, from time to time assigned to him by the Board of Directors. 

 

18.  The Vice-President shall possess the power and may perform the duties of the President in his absence or disability.  He may sign, along with the Secretary, and execute all authorized bonds, contracts or obligations in the name of the corporation.  He shall do and perform such other duties as may be, from time to time assigned to him by the Board of Directors. 

 

19.  The Secretary shall keep the minutes of all meetings of the Board of Directors, and the minutes of all meetings of the members.  He shall attend to the giving and serving of all notices of the corporation; he may sign with the President or Vice-President in the name of the corporation all contracts authorized by the Board of Directors, and when so ordered by the Board of Directors he shall affix the seal of the corporation thereto; he shall have charge of such books and papers as the Board of Directors may direct, all of which shall, at all reasonable times, be open to the examination of any Director or member, upon application at the office of the corporation during business hours; he shall in general, perform all duties incident to the office of Secretary and shall do and perform such other duties as may, from time to time, be assigned to him by the Board of Directors. 

 

 

20.  The Treasurer shall have the custody of all funds and securities of     the corporation which may have come into his hands; when necessary and proper he shall endorse, on behalf of the corporation for collection, checks, notes and other obligations, and shall deposit the same to the credit of the corporation in such Bank or Banks, or depository as the Board of Directors may designate; he shall sign all receipts and vouchers for payment made to the corporation; jointly with such other officer as may be designated by By-Laws or by resolution of the Board of Directors he may sign with the President    all checks made by the corporation, and shall pay out and dispose of the same under the direction of the Board of Directors, all bills of exchange and promissory notes of the corporation; whenever required by the Board of Directors, he shall render a statement of his/her cash account; he shall enter regularly in books of the corporation to be kept by him for the purpose, full and accurate account of all money received and paid by him/her on account of the corporation; he shall, at all reasonable times, exhibit his books and accounts to any Director or member of the corporation upon application at the office of the corporation during business hours; he shall perform all acts incident to the position of Treasurer, subject to the control of the Board of Directors.  He shall post a security bond in the sum of $5,000.00 dollars.

 

Passed, approved and adopted on 28^th day of May, 1969