New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-04
CORPORATIONS.

be held liable for any losses or damage which may
be incurred by this company in any sum greater
than the amount of their subscription ana indebt-
No transfer ofless than full share VIII be per-
mitted.
sume all the indebtedness thereon under the ap-
prevail of the trustees.
ARTICLE K.
a, the corporate powers of this company shall
he vested in a Board of Trustees composed Of
twenty-five stockholders, seven OF whom shall
form a ouorum for the transaction of business, to
be elected by ballot annually on the iourth tues
day in JULY, at the office OF the company, oi winch
election the secretary shall give at asst ten days
notice in at least two newspapers pupnshed 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 presi-
dent NAV 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 I'M
Ill others are elected in their stead.
Those persons reeeiying I nTadity s Of ketes
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
first meeting elect president and vice president,
who shall be ex otticio members OF the s BOARD OF
their successors are elected and qusllted. The
president shall preside at all meetings of The Board
ofTIustees and at all meetings OF the st0ckhoideEs
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
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 to adopt such bylaws as
thew may deem necessary for the government and
regulation Of the company, not contrary 10 TINS
charter 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, the time of his election and contlnu-
anee in Office, in his own name, or In the name
of the CONNIE rcial firm OF which he may be mern--
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 10 vote
on each and every share of the capital stock held
BY them respectively, but no stock shall De en-
titled to a vote which shall have been transferred
within three months previous to said election
ARTICLE XI.
At the time ofthe expiration of this charter, or
sooner if ordered by vote of twothir ds OF the
stockholders, the affairs of this company snail De-
iquidated its debts paid under the charge and su-
perintendence of three commissioners, to be chosen
by the Board of Trustees, who shall remain in
office until the final liquidation of the affairs ot ne
company; provided the entire liquidation SHAH not
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 all the rights and
powers thereunto belonging, with power to iii any
vacancies which may 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