association on the surrender of this certificate, properly endorsed, by the holder thereof, or by an attorney properly authorized, which stock is subject to the following conditions:

(Here insert material in section 1(a) of article IV of the bylaws for a stock association)

Such common stock is subject to the preference given to preferred stock in the articles of incorporation of the association, and the holder hereof accepts the same subject to such preference, and it is also subject to all the other terms and conditions of the articles of incorporation and the bylaws now in effect or hereafter adopted.

In witness whereof the said association has caused this certificate to be signed by its duly authorized officers and its corporate seal to be hereunto affixed.

For value received, and subject to the consent of the board of directors, the under

signed hereby sells, assigns, and transfers unto

shares of common stock rep

resented by the within certificate, and does hereby irrevocably constitute and

appoint

so to transfer the said stock on the books of the within-named corporation with full power of substitution

NOTICE. The signature of this assignment must correspond with the name as written upon the face of the certificate in every particular without alteration or enlargement or any change whatever.

(State)

6-

transferable on the books of the association on the sur

render of this certificate, properly endorsed, by the holder thereof, or by attorney properly authorized, which stock is subject to the following conditions:

(Here insert material in section 1(b) of article IV of the bylaws for a stock association)

In witness whereof the said association has caused this certificate to be signed by its duly authorized officers and its corporate seal to be hereunto affixed. This

day of

19_

shares of preferred stock represented by the within certificate, and does hereby irrevocably constitute and appoint

to transfer the said stock on the books of the within-named corporation with full power of substitution in the premises.

In the presence of:

Notice. The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular without alteration or enlargement, or any change whatever.

MEMBERSHIP CERTIFICATE

This is to certify that

is a member of the Association, and as such is entitled

to the rights and privileges of membership and is likewise bound by and subject to the obligations and conditions pertaining thereto, all as set forth in the articles of incorporation, bylaws and marketing agreement, now or hereafter in effect. Said member has paid a membership fee of $-

This certificate and the membership and rights represented hereby are nontransferable.

In witness whereof, the

Association has caused

this certificate to be signed by its duly authorized officers and its corporate seal to be hereto affixed this

[SEAL]

day of

By

19

dividends or deductions for revolving-fund purposes as provided in the bylaws thereof, subject to the following conditions:

1. This and other revolving-fund certificates of the same series are retirable in the sole discretion of the board of directors, either fully or on a pro rata basis, but certificates issued in prior years shall be entitled to priority in retirement except in liquidation.

2. The amount stated in this certificate shall bear only such rate of interest, if any, as the board of directors may fix, from time to time, in no event to exceed six percent per annum.

3. This certificate is transferable only on the books of the association.

4. This and other certificates shall be junior and subordinate to all other debts of the association, both secured and unsecured. Upon the winding up or liquidation of the association in any manner, after full payment to all its other creditors, all revolving-fund certificates shall then be retired in full or on a pro rata basis, without priority.

In witness whereof the

(Name of association)

has caused this certificate to be signed by its duly authorized officers and to be sealed with its seal, this 19

day of

WAIVER OF NOTICE OF FIRST MEETING OF MEMBERS

We, the undersigned, being all the incorporators of

of

(Name of association)

(State)

(Town)

constituting all the present members of such association,

hereby waive notice of a meeting of the members and consent to the holding of a meeting of such members at on the

day of

o'clock

and transacting any other business that may properly come before the meeting. Witness our signatures this

day of

19

WAIVER OF NOTICE OF FIRST MEETING OF BOARD OF DIRECTORS

We, the undersigned, being all the directors of

(Name of association)

(Town)

(State)

hereby waive notice of a meeting of the directors and consent to the holding

(State)

for electing officers of the association to serve during the

ensuing year, adopting the form of marketing agreement, and transacting any other business that may properly come before said meeting.

chair called for proof of notice of the meeting, whereupon

presented a waiver of notice and consent to hold the meeting signed by all the members of the association, which waiver and consent was in the following form:

(Copy waiver of notice and consent to meeting.)

The chair ruled that the meeting was properly called and it was ascertained that all the members of the association were present. The chair reported that the articles of incorporation of the association were filed on the

day of noon, in the office of the and presented a copy of

said articles of incorporation, which was read, and on motion duly made, seconded and carried, was directed to be entered in full in the minute book. (See page.) A draft of proposed bylaws for the government of the association was presented by and was read to the

meeting and discussed section by section and as a whole, and the proposed bylaws were unanimously adopted. Each member affixed his signature to the bylaws and the secretary was instructed to spread the bylaws on the minutes of this meeing.

(Here insert record of any other business that may have been transacted.)

There being no further business to come before the meeting, on motion duly made, seconded and unanimously adopted, the meeting was adjourned.