New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-26
ARTICLE K.

All the corporate powers of this company shall
be vested in a Board of Trustees composed o.
form a quorum for the transaction of business, to
be elected by ballot annually on the fourth Tues
SECTION the Secretary e EgI shsll 'a give s0 at lsastt 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 IL any of said in
spectors should decline or fail to attend the presi-
dent may appoint others TO fill the vacancy.
The new Board of Trustees viii take their seats
on the first Tuesday. in August after the election
ana remain In office during the year following I'M
shall Be declared duly 11iye elected. a should R%loIiht tSeT re- be se1 no
cause another election to be held within ten days
thereafter, upon due notice in two or more news
papers published in this city.
The Board of Trustees shall, annually. at their
nrst meeting, elect a president and vice president,
VINO shall be ex oficio 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 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-viee president shall preside at the meetings
aforesaid Ill the absence of the president, and, in
his absence, shall sign the policies of insurance Of
The trustees shall fix the compensation of all
officers and clerks employed or elected by them.
They shall have power to 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
does not, a. the time of his election and %continu-
anee in office, own in his own name, or in the name
Of the commercial firm Of which he may be a mem
per, 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
on each and every share of the capital stock held
oy them respectively, but no stock shall be en-
tltled to a vote which shall have been transferred
within three months previous to said election.
ARTICLE X.
AT the time ofthe expiration of this charter. or
sooner IL ordered. by a vote of two-thirds of the
stockholders, the affairs of this company shall be
lquidated, its debts paid under the charge and su-
per1ntendenee 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
extend, beyond a period of two years, after which
time the trustees may, at their option, continue
the commissioners, in office or 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, or until
their successors are elected and qualified; and
they are hereby invested with ali the rights and
powers thereuntO belonging. with power to fill any
vacancies which may occur in their number, and
generally to do and perform all and every act not
herein provided for, which may be necessary to
carry into full effect the objects and purposes Of
this corporation: .