Article 4 described the criteria by which new members were to be elected by the board. They had to be over 21 years of age, of good moral character, and sound of mind. Five shares was the minimum number of shares one individual or a partnership could hold but no member could hold more than twenty shares unless all shares had not been purchased by November of 1902. In that event, five or ten extra shares could be purchased. All members were required to move to and live on the Chamal property within one year from the date the stock was issued to them.

Article 5 required the corporation to hold a meeting each year on the first Saturday in November. Meetings were to be held in Chamal, which was designated as a branch office of the corporation. All members were allowed to vote for the directors and controlled a number of votes commensurate with the number of shares they held.

Article 6-9 delineated the duties of company officers and the board of directors.

Article 10 described the process by which the by-laws could be amended or altered.

Article 11 left open the decision of how to allocate the land until a later date, and then the decision would be made by a majority vote of the members.

The by-laws printed in the November 20th newspaper article, “Colony's by-laws,”[8] were paraphrased and incomplete. The by-laws presented in Appendix D are taken from a translation[9] of the Spanish copy of the original Blalock Mexico Colony By-Laws found in a Spanish document [see Appendix E] that was compiled to satisfy legal requirements in the Republic of Mexico.[10]

The Blalock Mexico Colony, the name adopted at the meeting on November 15, 1902, was a unique attempt to use a capital stock company as the organizational umbrella under which as many as one hundred families would purchase a large tract of land, emigrate to Mexico, and start a farming-ranching community.[11]