AZ vs. CA:19 California Exhibits, Vol. XIX; Nos. 4000-4044

page 79

[79] Article XIII. Transfer of Stock. Shares of the Corporation may be transferred at any time by the holders thereof, or by attorney legally constituted, or by their legal representatives, by indorsement on the certificate of stock. But no transfer shall be valid until the surrender of the certificate and the acknowledgement of such transfer on the books of the company. No surrendered certificate shall be canceled by the secretary before a new one is issued in lieu thereof, and the secretary shall preserve the certificate so canceled as a voucher. If, however, a certificate shall be lost or destroyed, the Board of Directors may order a new certificate issued upon such guarantees by the parties claiming the same as they may deem satisfactory. Article XIV. Meetings. The annual meeting of the stockholders may be held in Los Angeles, California, on the second Tuesday in January in each year and shall be called by a notice printed in one or more newspapers, published in the county of Los Angeles, as the Directors may elect, for at least ten days last preceding the day of meeting, or by a notice in writing by the president, delivered to each stockholder personally. No meeting of stockholders shall be competent to transact business, unless a majority of stock is represented, except to adjourn from day to day, or until such time as may be deemed proper.