The Opelousas courier. [volume] (Opelousas, La.) 1852-1910, 1886-08-14
Charter Of the Southwestern Louisiana
Land Company.
STATE OF LOUISIANA, |
GIN L a1nnM

of the Independence of the United States OF
America the one hundred and eleventh, before
me, Gilbert L. Dupre, q notary public in and
for said parish of St. Landry, State of Louis-
ana aforesaid, duly commissioned and quail
fed, and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared the several persons
whose names are hereunto subscribed who
declared that availing themselves of the pro-
visions of the laws of this State relative to the
formation of corporations for works of public
improvement and other purposes, they have
contracted and agreed, and by these presents
contract and agree and bind themselves, as
we'll as such persons as may hereafter become
associated with them, to form and constitute
corporation and body politic in law, for the
objects and purposes and under the stipula
tions and articles following, viz:
ARTICLE FIRsT.-The name and title of said
corporation shall be The SOUTHWESTERN LOU
1sIANA LAND COMPANY, and its domlcile shall
be in the city of Opelousas, parish of st. Lam
dry, State of Louisiana aforesaid: Said cor
pOration shall exist and have and enjoy sue
cession, under its corporate name, for the full
term and period of ninety mine years from and
after the day and date hereof, andsshall have
power and authority to contract, sue and be
sued, under it's corporate name; to make and
use q corporate seal, and the same to break
and alter at pleasure; to hold, receive, pur,
chase and convey, as we'll as mortgage and
hypothecate, under it's corporate name, pro
perty both real and personal; to name and
appoint such managers, directors and officers
as it's convenience may require; and to make
| and establish such bylaws, rules and regula-
| tions for the proper management and regula-
| tion of the affairs of said corporation as may
! be necessary and proper, and the same to
| change, alter and amend at pleasure
ARTICLE SEcoND.-Said corporation is estab-
| lished for the purpose of developing the agri-
cultural resources of Southwestern Louisiana,
| the promotion of immigration thereto, and the
purchase and sale of lands as real estate, so as
| to provide homesteads or farms to persons i'm
| migrating thereto and in the prosecution OF
! the above purposes to DO all and everything
pertinent or in any wise incidental thereto
| ARTICLE THIRD-The capital stock OF said
| Company has been fixed and is hereby declar
| ed to be the sum of Two Hundred and Fifty
Thousand Dollars, to be divided into or repre-
sented by twenty-five hundred shares OF the
sum of one hundred dollars each. Fifty per
cent of the amount of each share shall be paid
| in cash at the time of subscription, and the
| balance shall be paid in cash, in instalments
of such amounts and at such periods as the
Board of Directors may determine. Said
Board of Directors, however, may issue said
stock for labor done or property actually re-
ceived, under such provisions as they may de-
eide upon. In case Of failure of any subscriber
| to pay the instalments demanded on his stock
as required, the Beard of Directors shall have
the option, after thirty days written notice to
the delinquent, of forfeiting his stock, with
all amounts previously paid thereon; and no
| stockholder shall have the right to vote while
in default for unpaid instalments due on his
stock.
/ ARTICLE FouRTH.-The business and affairs
1 of said corporation shall be under the super.
intendence and management of o Board OF
Directors composed of seven stockholders, to
be elected annually on the third Monday in
July of each year. Said election sEali be by
ballot, and conducted at the Office of said cor
poration under the superintendent of three
commissioners to be appointed by the Board
of Directors; of which election ten days prior
notice shall be given in one OF the newspapers
published in the parish of st. Landry ana
the directors thus elected shall serve until
their successors shall have been chosen or
elected as aforesaid majority OF the votes
cast shall be necessary to elect, and each
share of stock not in default shall be entitled
to one vote, either in person or by proxy. in
the event of failure to elect Directors ON the
day above fixed, the Board OF Directors snail
cause another election to be held within thirty
days, and cause ten days prior notice thereof
to be given in newspaper published IN saio
: parish of st. Landry. Any vacancy occurring
| In said Board of Directors from any cause
, whatsoever shall be filled by election by ths
remaining Directors. Four Directors shall
constitute O quorum for the transaction o.
. business, and said Board of Directors at thell
: frst meeting in each year shall elect OUT OF
{ their own number President ana q wee
President, and shall also appoint from time &
time such officers, clerks, managers, oVerseef
7 or other agents as may be deemed necessaf,
j. for the business and purposes OF sald corpora
tion, and may dismiss the same at pleasure
n and they shall have full power and authofl1.
. to make and establish, as we'll as change o
. amend and alter all bylaws, rules and regula
). tions for the support and management OF tn
business and affairs of said corporation
All citation or other legal process shall D.
served upon the President, and in case OF M
d absence or inability to act, then upon th
of aai1 P0rnOrabl00.
= ARTICLE EFIFTH-Whenever this corpofatlo
ia dissolved, either by limitation or from an
/ other cause, it's affairs shall be liqnidated III
i der the superintendence of three stoekh0idel
: to be appointed for that purpose at gene.s g..
meeting of the stockholders, convened afse
thirty days prior notice, with the assent OF
o majority in amount of the capital stock LID
j. said Commissioners shall remain in office unit
a the affairs of said corporation shall have pee
= fully settled and liquidated and IN case OF bf
~ death Of one or more of the Commissioner
rt tha survivor or survivors shall continue to ac
ARTICLE SIxTH-This act of incorporate
nt NAV be changed, modified or altered, or sd
corporation may be dissolved with the assel
of a majority in amount of the capital sGot
thereof, at any general meeting OF 1ns sIoe :
holders of the said corporation convened
such purpose after thirty days prior notice
IL sneh meeting shall have been published IN
newspaper published in the said parish OF
We Landry ANY amendment in relation 70 y
ill capital stock will require compTance WIN
re- provisions Of Act No. 26 OF the Legislature
lst this State for the year 1882
m ARTTcIE SEyENTH.--No stakeholder sh'
ever be held liable or responsible for the GO
to tracts or faults OF said corporation IN any II
ther sum than the unpaid balance due on
shares Of stock owned by him nor shall
mere informality in organization have the
m. feet of rendering this charter null or OF
nnsing a stock holder to any liability beyo
- the amount paid on his stock