New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-24
CORPORATIONS.

| be held liable for any losses damage which may
| be incurred by this company in any sum greater
| than the amount of their subscription and indebt-
edness.
No transfer ofless than one full share will be per-
mitfed.
Transferees of shares, not fully paid up, shall
sumo all the indebtedness thereon, under the ap-
| proval OF the trustees.
ARTICLE X
All the corporate powers of this company shall
be vested in Board of Trustees composed of
twenty-five stockholders, seven of whom shall
form quorum for the transaction of business, to
be elected by ballot annually the fourth Tues
day in JuT, at the Office of the company, of which
election the secretary shall give at least ten days
notice in at least two newspapers published in
this city. The Board of Trustees shall appoint
from among the stockholders not trustees, three
inspectors of said elections and If any of said in
spectors should decline or fail to attend the pres
dent EN-, may appoint others to fill the vacancy.
The new Board of Trustees will take their seats
on the first Tuesday in August after the election
and remain in office during the year following
til others are elected in their stead
Those persons receiving plurality of votes
shall be declared duly elected Should there be no
an on daS m % 1he president shall
thereafter, upon due notice in two or more news
papers published in this city
The Board of Trustees shall annually at their
nTst meeting, elect president and vice president,
who shall be ex OtficiO members of the Board of
Trustees, and they shall hold their offices until
their successors are elected and qualified. The
president shall preside at all meetings of the Board
of Trustees and all meetings Of the stockholders
OF the company, and shall conduct the business of
me company generally under the supervision of
the Board of Trustees
The vice president shall preside at the meetnpa
aforesaid III the absence of the president, and In
his absence, shall sign the policies of insurance of
the company
The trustees shall fix the compensation of all
officers and clerks employed OF elected by them
Ihey shall have power to adopt such bylaws
they may deem necessary for the government and
regulation Of the company, not contrary to this
charter or to the acts of the Legislature of this
state relating to the organization of corporations
under restrictions to be prescribed by the trustees
No person shall be trustee of this company who
does not, a. the time of his election and continu-
ahce III Office own in his own name, in the name
OF the commercial firm of which he may be a MEM
Der, at least ten shares of the capital stock
thereof.
Each and every stakeholder shall be entitled at
elections, either in person or by proxy one vote
on each and every share OF the capital stock held
by them respectively, but stock shall be en-
tltled 10 vote which shall have been transferred
within three months previous to said election.
ARTICLE XII
At the time ofthe expiration of this charter, or
sooner if ordered by a vote of two-tbirds of the
stockholders, the affairs of this company shall be-
Llqnidated It's debts paid under the charge and
perlntendence OF three commissioners to be chosen
by the Board of Trustees, who shall remain in
office until the final liquidation of the affairs of the
company; provided the entire liquidation shall not
extend beyond period of two years, after which
time the trustees may, at their option, continue
the commissioners i'll office or appoint others in
their place or stead
ARTICLE XII
The following named persons shall constitute the
1rst Board of Trustees, who shall remain in office
until the second Tuesday of July, 1872 or until
heir successors are elected and qualified; and
they are hereby invested with all the rights and
powers thereuntO belonging, with power to fill any
Tacancies which may occur in their number and
generally TO do and perform all and every act not
herein provided for which NAV be necessary to
carry into full effect the objects and purposes OF
his corporations