The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1874-03-21

oh"iC SudiI oo tutItleu TO one vote
In all meetings of stockholders
twenty per cent. to be paid when
the amount of ope hundred and
fifty thousand dollars is subscribed
and the balance shall be paid at
the time and in the manner ordered
by the board of directors. The
capital stock may be increased to
an amount not exceeding five hun.
dred thousand dollars vote repre-.
senting two-thirds of the capital.
ARTICLE VII.
The first meeting of the stock
holders shall be held sixty DAYS
after the passage of this act, at
such time and place as the stock.
holders assembled for that purpose
may direct, and at which time they
shall select seven directors, one
OF whom shall be chosen president
by the directors so elected, and
the said president and directors
shall have the power of app
ing such officers us may bexIoces-
sary to carry into effect the object
OF the present incorporation.
ARTICLE VIII.
! The president and directors so
elected shall hold their offices for
the period of one year, or until
their successors in office may be
duly elected, in conformity to the
regulations and by laws which the
directors may adopt for the man
agement or the affairs and to
carry into effect the object of tho
present association.
+ ARTICLEIX.
A failure to elect directors at a
regular meeting of the stockhold-
ers shall not dissolve the corpora
ton, but the directors then in Of
lice shall continue to exercise their
functions until a new board of d.
rectors shall have the power to
make and adopt all necessary rules
and bylaws for the government of
the company, provided the same
do not conflict with the true in-
tent and meaning of this act of in
corporation and the laws Of the
State of Louisiana or OF the United
States. The board of directors
may declare dividends from time
to time, DIS they may deem advisa-
BILE.
ARTICLE x.
1t any director shall cease to be
a stakeholder during the term of
office his seat shall be vacated, or
in the event of the death, perma.
nent absence or resignation of any
director, the board shall have the
authority to fill the vacancy occa-
stoned thereby.
ARTICLE
No stakeholder shall be held IL
able or responsible for the con
tracts or faults of said company,
beyond the amount of his, her or
their stock in said company, nor
shall any mere inforlnality in the
organization Off said company have
the effect of rendering their char
ter null, or of exposing a stock
holder to any greater liability
than the amount of his, her or
their stock Therein
ARTICLE XII.
Should any stakeholder refuse
or neglect to pay punctually his,
her or their installments, as the
same fall due, interest at the rate
OF eight per cent per annum shall
be added thereto, from maturity
until final payment; and if any
subscriber neglect, or refuse to
pay his, her, Or their installment
within thirty days after the speci
fled time of payment,th board of
directors shall have the right of
causing any shire or shares upon
which any installmeEts may be
due, to Oe sold at public auction, or
to forfeit said shares, or to compel
by suit the payment of such in
stalments as the board NAV deem
advisable.
ARTICLE XIII.
The president of the COMPANY
Is hereby constituted the officer on
whom all citations and legal pro.
cess may be served.
ARTICLE XIV.
The term for which this company
is formed shall be the period OF
twenty five years.
ARTICLE XIV.
Section l. Three fOurths of the
stockholders in capital shall have
the power to wind up and settle
all affairs of the company at any
time during the existence of the
H.,