The Opelousas journal. [volume] (Opelousas, La.) 1868-1878, 1871-05-27
held on the first Monday of January of each

| corporation, between the hours of 9 A. NJ
to 4 P. NJ. due notice during thirty days
| having been given in two daily newspapers
in the city Of New Orleans, and in any
newspaper published in any place wherein
the domicile Of said company may be estab-
lished, if said domicile is not in New Or
leans. The persons receiving the highest
nu1nbersof votes shall be declared elected
directors for the ensuing two years, and
until others are elected.
Sec 2. Be it further enacted, etc., That
it shall be the duty of the directors, imme-
diately after the election, to choose any one
of the members as president and vice presi-
dent, who shall serve for two years, or until
their successors are elected. They also
shall elect a secretary, treasurer, and such
other officers of the company as they may
deem advisable, who shall hold their office
rectors. 1t shall be the duty of the presi-
dent to preside at all meetings of the stock
holders of the corporation, and also of the
board of directors, and to call special meet
ings of the board at such times as may be
deemed proper, upon the written request OF
two directors, Or when he may himself deem
meeting of the directors expedient. He
shall in all meetings of the direction [di-
rectors ex oficio cast the vote and exercise
all the powers of director, and shall also
give casting vote as president in case of a
tie. Upon similar request as above, on
the part of three directors, he shall call a
meeting of the stockholders. Two days.
notice of a called meeting Of the directors
shall be given in one or more daily papers
published in the place where the meeting
of the directors shall be held, and at least
thirty days notice shall be given, in like
manner, of any called meeting of the stock
holders. The said Board of Directors shall
have power to fill any vacancy occurring in
their own body for the unexpired term. 1t
shall be the duty of the vice president, in
case of the absence or disability of the
president, upon written notice of his ina
bility to attend at any meeting of the di-
rectors, to take the place Of the president
fulfill his duties and functions and exercise
all his powers; and in case of the absence
and disability of the president and vice
president, then the functions and powers of
the president shall be vested in president
pro tenn, elected by the Board of Directors
from among their number.
Sec. 8. Be it further enacted, etc., That
no certificate of stock shall be issued until
TWENTY-FIVE per cent of the subscription
amount shall have been fully paid thereon,
and if any subscribers shall refuse Or neg
lect to pay any balance due by him on the
amount of his subscription, within thirty
DAYS from the date of written requisition
made by the directors for the payment of
such balance, he shall forfeit his stock paid
in and cease to be a stockholder.
Sec. 4. Be it further enacted, ETC., That
this company, although it is of perpetual
succession, may be dissolved by bankrupt
cy, or at any general meeting of the stock
holders by vote representing two-thirds
of the full paid capital stock. On dissolu-
ton of the company as herein mentioned,
the mode of liquidation shall be by applica-
ton to any court having jurisdiction where
the domicile of the company may be estab-
lished, for the appointment, of one or more
commissioners taken from among the stock
holders. to realize the value Of all assets
of the corporation in such manner as the
law may direct, and to distribute the same
among the parties entitled thereto, accord
ing to the decree of the court.
SEC. 5. Be it further enacted, etc., That
the directors shall have power to make such
bylaws, rules and regulations as they shall
deem proper and useful touching [the] prop.
erty, stock, rights, privileges, franchises
and effects in general of the company, and
also touching the transfer OF shares, the
term of office, the duties and conduct of
II ,;c ~ of1 oore ND or,n1ovoc and all mattarc
which may appertain to the concerns of said
company, md facilitate the development of
the water power aforesaid, and the estab-
lishment of factories of every description,
at the spot and within the limits mentioned
in this charter; and the said board of di-
rectors shall have power to appoint such
engineers, agents and subordinates as may
from time to time be necessary for the com
plete development of all the water power
existing in Terry's creek and in the Tangi-
pahoa river, within the limits described in
the first section of this act. Said directors
may require payment of the subscription
stock at such times and in such proportions
as they may deem necessary. No stock
holder shall be liable for any obligation,
contract and indebtedness of the corpora
tion beyond the amount of his subscription.
The secretary and treasurer shall give such
bonds with such security as the said board
shall from time to time require.
SEC. 6. Be it further enacted, ETC., That
10 enable said company to accomplish the
purposes and objects of this corporation,
she said company is hereby empowered to
obtain, by grant, purchase or otherwise,
rom any corporation, person or persons.
my rights, privileges or franchises that said
person or persons may choose
% grant in reference to damming the Tan
yipahoa river and Terry's creek, or any
,ther water course, taking water from the
same, cutting canals, establishing iron and
wood pipes or condults, forming and con-
ponds, and accomplishing, with
out entering into further specifications, all
hat may be necessary for the attainment
If the object contemplated in this act; and
my such corporation, person or persons as
1ereinbefore mentioned, are hereby author
zed and empowered to grant, sell or trans
er to said company such rights, privileges
md franchises as they may deem proper
md advisable; and such rights, privileges
Ind franchises, when conveyed to and ac-
,epted by said company from any such cor
1oration, person or persons, or already
granted or conveyed to any individual be-
ore the. formation of said company, and
'ubsequently transferred by said individual
% said company, shall be deemed and taken
IS rights, privileges and franchises vested
md confirmed in said company, and not |
liable to be hereafter revoked, changed, |
modified or impaired, except with the con-
;ent Of said company.
Sec. 7. Be it further enacted, ETC.. That
aid company be, and is hereby authorized