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required by law, a copy thereof shall be served personally by first class mail upon each shareholder residing within the United States entitled to vote at such meeting not less than ten (10) nor more than fifty (50) days before the meeting. If mailed, such notice shall be directed to each such shareholder at his address as it appears on the books or records of the Corporation. Such notice shall state the time and the place of the meeting and, if the meeting be special, briefly describe the purposes thereof. Unless otherwise provided by law, no notice of the time, place or purpose of any meeting need be given to any shareholder who shall attend such meeting i~ person or proxy or to any shareholder who, in writing, executed and filed with the records of the Corporation, either before or after the holding of such meeting, waives such notice. No notice need be given of any adjourned meeting. Section 5: Annual Report. At each annual meeting of shareholders, the Directors shall present a report, verified by the President and Treasurer or by a majority of the Directors, showing the whole amount of real and personal property owned by'the Corporation, where located and where and how invested, the amount and nature of the property acquired during the year immediately preceding the date of the report and the manner of the acquisition, the amount applied, appropriated or expended during the year immediately preceding such date and the purposes, objects or persons to or for which such applications, appropriations or expenditures have been made and the names and places of residence of the persons who have been admitted as shareholders in the Corporation during such year. Such report shall be filed with the records of the Corporation and an abstract thereof entered in the minutes of the proceedings of the annual meetings.