Good housing that pays /

by Fullerton L. Waldo

Section 4. They shall cause the books of the Treasurer to be audited immediately before each annual meeting and shall exhibit to the stockholders at the annual meeting, or oftener if expedient, a statement or report showing the financial condition of the Association; the amount due by the Association, the amount of profit and loss sustained during the year. They shall judge of the expediency of declaring dividends, and if declared, the amount. They shall also report fully upon the moral side of the work.

Article VI. Duties of Officers.

Section 1. The President shall perform the usual duties of the President, shall attend and preside at all meetings of Stockholders and of the Board of Directors, shall convene the Board of Directors whenever in his judgment a session is required, or whenever requested to do so, as provided in Article 4. In the absence of the President the Board of Directors shall appoint a President pro tem.

Section 2. The Secretary shall act under the direction and superintendence of the President, attend all meetings and keep in suitable books the minutes thereof, superintend the keeping and have charge of the books, papers and records pertaining to his office, sign such documents as shall require his signature, issue notices for all meetings and perform generally all the duties incident to the office of Secretary.

The address of each stockholder shall be kept by the Secretary, which address shall be furnished by the stockholder. He shall have custody of the corporate seal, and attest it whenever applied.

Section 3. The Treasurer shall give bond for the faithful discharge of his duties in such sum and with such sureties as the Board of Directors from time to time may require. He shall have charge of the funds of the corporation, shall keep its accounts, and exhibit a statement of its affairs at the annual meeting of the stockholders, and at each regular meeting of the Directors. All money belonging to the Company shall be deposited in its name in some bank of Philadelphia approved by the Directors, and shall be drawn therefrom only by checks signed by the Treasurer, who shall pay no bills unless approved in writing by the Chairman of the Committee, or of the sub-committee, authorized to contract them. The Treasurer shall keep the stock books of the Company in proper form.

In the Treasurer’s absence the Board of Directors may delegate one of their number to act as Treasurer pro tem. It shall be possible for a Trust Company to act as Treasurer.

Article VII. Stock Certificates.

Section 1. Certificates of stock shall be issued under the seal of the Company, and be signed by the President and Treasurer of the Company and attested by the Secretary.

Section 2. No transfer of stock shall be allowed except by transfer on the books of the Company, in person, by the person to whom issued or by his or her duly authorized attorney. The Secretary shall cancel the original certificate before signing a new one in lieu thereof.