The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-06-17
No. go.
AN ACT

To incorporate the Atchafalaya Bay Com
pany of Louisiana, for the purpose of
making deep channel through to said
bay, to facilitate the carrying on of COM
= mercial intercourse between the State of
Louisiana and the State of Texas and
foreign countries.
SECTION L. Be it enacted by the Senate
ana House of Representatives of the State
of Louisiana in general assembly convened,
That Cuthbert H. Slocomb. James L. Day,
T. Tupper, Edward Pilsbury and S. j.
Webster, citizens of Louisiana, and their as
sociates and successors be and they are
hereby declared to be body corporate and
polite, by the name of the Atclafalaya Bay
Company of Louisiana, whose domicil shall
be at Brashear City, parish OF St Mary,
State of Louisiana The said company shall
have power to contract, sue and be sued, to
have and enjoy perpetual succession By their
corporate name, to make and use a corpo-
rate seal, to hold, receive, purchase and
convey under their corporate name property
real and personal, to name and appoint such
directors, managers and officers which their
interest and convenience may require, and
to make such bylaws as they may deem
necessary and proper for the management
of their business.
Sec. 2. Be it further enacted, etc, The
capital stock of the company shall be two
hundred and fifty thousand, divided into
twenty-five hundred shares of one hundred
dollars each, payable as may hereafter be
determined by the board of directors of said
company, and the said capital stock may be
increased to one million of dollars, say ten
thousand shares; provided, that no such
certificates of additional stock are issued
until the payment of the par value thereof
to wit: one hundred dollars per share.
Sec. 8. Be it further enacted, etc, There
shall be board of directors, composed of
five, stockholders, to be elected on the first
Saturday, of April of each year, at the office
of the company, and notice of such election
shall be given ten days Immediately pre-.
ceding such election in the newspapers pub
lished nearest the domicil of said company.
The stockholders shall appoint three stock
holders as inspectors of election, to preside
at an election to choose the first board of
directors, and if said inspectors or any of
them fail to attend, the stockholders may
then appoint others to act in their stead.
At all subsequent elections for board OF
directors, the acting board shall appoint
three inspectors from among the stockhold-
ers to preside at said election.
SEC f. Be it further enacted, etc, In
all elections the vote shall be by ballot, and
the stockholders receiving plurality of the
votes of The stockholders voting shall be
considered duly elected; and in the event of
no election taking place on the day aforesaid,
the president shall cause another election TO
be held within ten days thereafter, after CIV
ins the usual notice OF same as aforesaid. No
stock shall be transferred unless such trans
fer be made on the books of the company.
No stakeholder shall be held liable for the
contracts or faults of said company in any
further sum than amount represented in the
shares Of stock held by him.
SEC. 5. Be 1t further enacted, ETC., This
act ofineorporation may be modified, altered
or amended, or the company dissolved at a
general meeting of the stockholders, to be
convened for that purpose, after thirty days
notice in The newspapers published nearest
the domicil of the company, and with the
assent Of three-fourths of the stockholders.
Such notifications, alterations, amendment
or dissolution shall be recorded in the mort
gage Office of the parish in which said com.
pany is do,niciIed, and notice Of same pub
lished in the aforesaid newspaper.
SEC. 6. Be it further enacted, etc, In the
event that three -fourths of the stockholders
of said company desire dissolution Of the
corporation, the affairs OF said company shall
/ be liquidated. its property disposed Of, and
| its debts paid under the charge and super
intendence Of three commissioners, to be
appointed by the board Of directors, and
who shall remain in office until the fina
liquidation Of the affairs Of said company,