T42CH24

Title 42 > T42CH24

Sections (4)

42-2401

TITLE 42 IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION CHAPTER 24 CONFORMATION OF OPERATING COMPANIES TO DISTRICT SYSTEM 42-2401. Additional rights and powers granted irrigation or canal companies. Any corporation heretofore organized or any corporation that shall hereafter be organized for the operation, control or management of an irrigation project or canal system, or for the purpose of furnishing water to its shareholders and not for profit or hire, shall have and exercise all the rights, powers, and privileges in addition to those already granted and existing. (1) To divide into districts the territory included in such project or system and to change from time to time the number and boundaries of such districts; (2) To elect its directors from such districts by a vote in which all the stockholders of the corporation may participate, determine the number of directors to be elected from each district, fix their terms of office and prescribe the times and manner of choosing their successors; (3) To hold regular annual meetings at which the stockholders who are represented in person or by proxy shall constitute a quorum for the transaction of business and shall have the power by a majority vote of the stock so represented to elect directors and transact any other business of the corporation proper to be done; (4) To provide for the appointment of an executive committee from the board of directors to be composed of not less than three (3) thereof. Such committee shall have all the powers, rights and privileges of the board of directors and may meet at such times and places as the bylaws may provide or the board of directors may determine, and the acts of such committee shall in all matters be valid as against the corporation; (5) To provide by amendment to its articles of incorporation or by adopting new articles of incorporation for the treatment and eradication of noxious weeds growing on the lands within the boundaries of said irrigation project and adjacent thereto and to drain excess water from said lands; (6) To change or amend its articles of incorporation or bylaws or adopt new articles or new bylaws, by a two-thirds (2/3) vote of the stock represented, at any regular meeting of the stockholders or at any special meeting duly called for that purpose in accordance with the provisions of sections 30-310 and 30-311 , Idaho Code; provided that any proposed changes in the articles of incorporation or bylaws or any new articles of incorporation or bylaws shall be either proposed at a meeting of the stockholders or approved by at least one-third (1/3) of the board of directors. Before being finally adopted, notice of such proposed articles, bylaws, or changes therein, or a summary of them, shall be given by an advertisement thereof for two (2) weeks in a newspaper of general circulation within the canal company service area and the county in which the principal place of business of the corporation is located or by written notice, placed

42-2402

TITLE 42 IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION CHAPTER 24 CONFORMATION OF OPERATING COMPANIES TO DISTRICT SYSTEM 42-2402. Purposes of organization determined from charter. The purposes for which said corporation has been organized shall be determined from the articles of incorporation of any such corporation. History: [(42-2402) 1923, ch. 133, sec. 2, p. 194; I.C.A., sec. 41-2002.]

42-2403

TITLE 42 IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION CHAPTER 24 CONFORMATION OF OPERATING COMPANIES TO DISTRICT SYSTEM 42-2403. Validation of proceedings under 1921 act. Any and all elections and any and all things done and performed by any such corporation organized under the laws of this state, not otherwise invalid, had, done or performed in pursuance of, or in reliance upon, chapter 65 of the General Laws of the state of Idaho, passed at the sixteenth session of the state legislature of 1921, approved March 12, 1921, are hereby validated. History: [(42-2403) 1923, ch. 133, sec. 3, p. 194; I.C.A., sec. 41-2003.]

42-2404

TITLE 42 IRRIGATION AND DRAINAGE — WATER RIGHTS AND RECLAMATION CHAPTER 24 CONFORMATION OF OPERATING COMPANIES TO DISTRICT SYSTEM 42-2404. Powers vested in stockholders. The rights, powers and privileges herein created and granted shall vest in and be held and exercised by the stockholders except in so far as they may be expressly delegated to the directors by the articles of incorporation or by-laws of the corporation. History: [(42-2404) 1917, ch. 46, sec. 2, p. 106; reen. C.L. 129:12; C.S., sec. 3051; I.C.A., sec. 41-2004.]