New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-02
CORPORATIONS.

the corporation, but for the TRANSACTION OF any
other usiness by the board a majority Of dIrec-
tors shall be required to form quorum and the
decision of a majority of said quorum shall be
SIC. 6 The Board Of Directors shall fix the salary
of all the officers Of the corporation shall appoint
a cashier, clerks, officers and agents ana may re-
move the same at pleasure. Said board may also,
from time to time, delegate such power ID transact
ing the or insrv business Of the corporation to
committees OF their own body, or to their ofheers
or agents as they may deem expodient.
SEC. T. The Board of Directors may purchase out
of the funds Of the corporation any eTidel ses OF
de bit that may be held by law and transfer IN
pl-dge to the Auditor of Public Accounts. OK other
proper oficef of the State of Louisiana all or any
portion OF said evidences of debt authorized 10 Sc
cure the payment CT notes Of circulation issued By
SEC. g. The Board of Directors, after paying an
the expenses of tbs corporation shall twice IL EACH
year declare and pay such dividends out OF the
surplus profits as they may deem expedenti no
tice of the same shall be published in two neWspa
pers in the city of New Orleans.
SEC. 9. The Board Of Directors shall have power
to supply any vacancy that may occur III their
board.
SEC. TO- Vacancies in the Board of Directors may
be declared in consequence of death, resignation
want of the requisite number of shares OF absence
without leave from three consecutive meetings.
ARTICLE ".
SzcTIoy l. Minutes of all proceedings of the
boar shall be kept by the cashier and certified by
By the President.
sRcrIoy l. The President and cashier shall GER
-
stock and evidences of debt OF the corporation.
ARTICLE W.
SECTION l Books for the registry and transfer Of
shall be kept and subject 70 sucn restrictions
as the by laws may direct.
SEC.2. Every transfer OF any share or shares OF
capital stock shall be made on the books OF the
corporation and be signed by the shareholder or
SEC 8. The Board of Directors may close the
transfer book often as convenience may re-
quIre, but Tor no longer than ten days at any one
tine. -
SEC. 4 No share or shares of the capital stock
shall be transferab able unless paid in fu. On all IL
stallments in default interest az the rate OF eight
per cent per anuum shall be charged, and the
Board of Directors after ten days Eotice by adVer
tsement shall have the right to cause to be scld
any share or shares on which any instaIlments
NAV be due az remain unpaid.
SEC s. no certificate of stock shall be issued uu-
less paid in tu.i.
ARTICLE VII
SECTION l. On the third Monday in January, 1874
and annually thereafter, an election of directors
by the stOc khO,ders shall be held at the banking
house OF the corporation; a plurality of votes
then and there given shall elect previous notice
OF said election shall be given at Least thirty days
in two newspapers published IN the city OF New
Orleans. +#r. .tt -.J
SEC O. In ali elections 4 directors and in decid-
ing all questions at the meetiDgs of shareholders,
each shareholder shall be entitled to one vote on
each share of stock held by him, Shareholders
NAV vote by proxies duly authorized il writing.
No shareholder whose liability to the bank is past
due and unpaid shall be allowed to vote
NEt y. Two partners ohdi hOl VIC cAiSIpl0 DIT Inc
same time as directors of this company, nor shall
a director of any other bank Or his partner be a
director OF this company
SEC a. Every election Of directors shall be super
il tended by three commissioners, to be appointed
by the Board of Directors one week previous to
said election.
SEC s. Stockholders to be entitled to vote at any
election meeting of stockholders must have
held in their own name and right the number OF
shares on which they desire to vote at least three
months immediately preceding said election or
meeting.
dir ec,ors on the day when such election should
have been held shall not dissolve the corporation;
but the directors then in office shall hold over and
any time within sixty days after the day appointed
in the first section of this article, and after thirty
days notice, shall cause such election to be held.
ARTICLE VIII
SECTION l. majority of all the directors elected
may Professionally accept aAy power or privilege
ton, either by amendment Of the laws under
which il is formed or by any new act or enact
ton, but the final adoption and acceptance of such
these these Articles shallbs BY Vote Of the stockhold
er5 III the manner provided by law.
ARTICLE TX
Section l. The liquidation of the affairs of the
corporation shall be made by three com missore-s
elected by the stockholders at a meeting convened
for that purpose after sixty days previous notice
in two Newspapers published i'll the city OF New
Orleans each of said commissioners shall be citl-
zen of this State, and not indebted to the corpora
ton, and at such meeting 5teckhOioei5 may cede TO
such commissioners oil powers necessary to the
liquidation OF the affairs OF the corporation may
Il their term of Office limit the period for IquidF
ton, fix their compen satIon, deHne their duties
and ths manner in which said commissioners may
be removed or their term Of Office renewed.
For the true performance Of all and everv the
articles covenants and agreements aforesaid tor
the purposes therein named. and no other, al the
aforesaid parties to this instrument bind them
selves, their heirs, executors and assigns.
Thus done and passed N my office at the said
city of New Orleans. in the presence OF Mes5rs.
Moses Harris and Auguste Huard, witnesses of law
fl age and domiciliated in this city who hereuntO
subscribe their names together with the said par
ties ard me the said notary on tLis ninth dav OF
August in the year one thousand eight hundred
and seventy-three.
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