Best Road Mutual Water Company
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BRMWC Bylaws

1. Agreement: Membership Certificates of the Company shall consist of an agreement executed between the member and the Company, including the matters set forth in Article 4 Section 8, of these Bylaws, and a recorded copy thereof being given to the new member. A membership book shall be maintained which shall contain the number, date and name of the membership as set forth in the corresponding recorded agreement, together with the recording data.

2. Not Transferable: Membership Certificates in the Company are not transferable or assignable except as specifically provided in these Bylaws at Article 4 Section 8.

3. Transfer Fee: All transfers of such Certificates shall be subject to a transfer fee of a reasonable amount as set forth from time to time by the Board to the payment of all indebtedness of the Company of the member whose Certificate is transferred.

4. No Fractional Shares: The Company shall not issue fractional shares or securities.

5. Appurtenant to Land to be Served: The water that shall be sold by the Company. and distributed, supplied and delivered there from, shall be sold only to owners of shares in the Company, and such shares shall be appurtenant to the particular lot with which the share is associated, as the same shall be described in the Certificate issued therefor, but such land shall only be a lot within the area served by the Company as described in Article Four, Section 1 above. The covenants, conditions and restrictions contained in these Bylaws shall run with the lot to which the share attaches, and be binding on the successors and assigns and on all parties having or acquiring any right, title or interest in such lot or any part thereof, their heirs, successors and assigns, and shall inure to the benefit of the owner thereof.
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