New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-09
CORPORATIONS.

be held liable for any losses or damage which NAV
be incurred by this company in any sum greassyy
than the amount OF their subscription and indebt-
No transfer ofless than one full share iii be ne,
Transferees of shares. not fully paid ur shat, No.
| sumo all the indebtedness thereon, under the an
| prevail OF the trustees.
ARTICLE x
All the corporate powers of this COMPANY shaIf
be vested in a Board of Trustees coiurosa s,a ~
| twenty-five stockholdersi seven of whom shan
forIp quorum for the transaction of business 10
be eieeted oy O s annually s t on the fourth Tues
election the secretary shall give at least ten days,
not. notice tx IN sr THE eaf Roa aTo ~
| from among the stockholders not trustees thres
inspectors of said elections and If any Of said IN
| dent 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 m
| til others are elected in their stead.
be ony Of sss
election on the day appointed, the president shall
thereafter, upon due notice in two or more news-
papers published in TIL city.
The Board of Trustees shall, annually. at their
first meeting elect president and vice president
who shall be ex o1cio members of the Board oY
Trustees, and they shall hold their offices until
their successors elected and qualified The
president shall preside at all meetings of the Board
ofTrustees and at all meetings Of the stockholders
of the company and shall conduct the business Of
the company generally under the supervision of
the Board of Trustees. -
The vice president shall preside at the meetings
aforesaid in the absence of the president and IN T
his absence shall sign the policies of insurance of
the company.
The trustees shall fix the compensation Of all
officers and clerks employed or elected by them
They shall have power tc adopt such bylaws as
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
and TO appoint agents within and out of the State
under restrictions to be prescribed by the trustees
No person shall be a trustee of this company who I
does not the time OF his election and continu- +
aHce in office, in his name, in the name
of the commercial firm of which he may be 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 to one vote
by them respectively, but no stock shall be en-
titled to a vote which shall have been transferred
within three months previous to said election.
ARTICLE xI.
At the time of the expiration of this charter or
sooner if ordered by vote of two-thirds Of the
stockholders, the affairs of this company shall be
its debts paid under the charge and
perintendence 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
provided the entire liquidation shallnot
extend beyond period Of tive years after which
time the trustees may, 1T their option, continue
the commissioners in Office appoint others IN
their place or stead.
ARTICLE XII.
The following named persons shall constitute the
first Board of Trustees, who shall remain in Office
until the second Tuesday of July, 1872 until
their successors are elected and qualified aud X
they are hereby invested with all the rights and
powers thereunto belonging, with power TO fiji any
generally TO do aud perform all and every act not
herein provided Tor, which may be necessary to &
carry into full effect the objects and purposes of