St. Landry democrat., 1889-03-02
CHARTER
STATE OF LOUISIANA,
pariGh OF ST. Landry

Article LIST. The name OF this corporation ia
the Farmers Union supply Store aud its dom
lcl!e will be at some place near Vile Plste, in
the parish OF st. Landry, State OF Louisiana.
Art. cd. The object OF this corporation is to
purchase and sell farmers supplies and produce
ana to doa general mercantile business. at 4
stipulated percentage to be fixed aud regulated
by board OF Trustees.
! Art Sd. The duration Of this corporation is
| liked at twenty-five years unless sooner Iisaslv-
! ed by Two thirds vote of NIL the stockholders at
special meeting held for the purpUae. after ak
| days legal notice.
| Art: 4th This corporation may sue and he
sued in its corporate name, and may buy and
| own real and personal property, and shall have
tho right 10 issue paid up shares to members of
! the FARMERS Union i'll good standing only for
! cash. lumber or other property
! Art. 9Th. The capital stock of this corporation
shall be Limited 10 twenty five thousand dollars
t25000t to be divided into five dollar shares and
may commence business when one thous-Pd
dollars worth OF shares have been taken.
Art. 9Th. At all elections each subscriber 10
IA mnch rs one share shall be entitled to a vote.
but no person shall he entitled tomore than one
vote though he may own as many shares rs he
may desire.
Art. 7th: This corporation shall be governed
by 2 board OF Trustees 10 consist Of one from
each Union interested W no shall be elected nv
delegates OF stockholders who viii be entitled
to one vote for each five votes in his Union,
such conventions shall be held annually on the
1tst Monday IN March. at the same annual
meeting they shall select manager OF the
store The President OF The Board OF Trustees
shall be 4 member at large. and selected by The
convention OF Stockholders, ut their annual
meeting. The board OF Trustees shall hold their
Office I'll the next annual election and instala
ton.
+ The Board Of Trustees shan have the power
70 examine the books of the Corpora ton ut any
time they may see proper after giving at least
two days notice to the manager. and Ia issne
paid mp stock as per article 4th of This Chart err
by manager
The President OF the Board of Trustees shall
call together the Trustees, also he stockholders
at any time he may deem proper
Art. sth The stockholders at their regular
annual meeting shall fix the salary OF tile man
ager. which may he increased or decreased at
their next meeting.
Art. 9th. The duty of the manager shall be to
purchase all goods. receive aud sell all produce
to the advantage OF the customers. shall attend
to the keeping OF the books, receive all moneys
ana control nil the business pertaining to the
store He shall also have the power to remove
all clerks and assistants. He shall maze all
drafts ana payments in liquidation OF debts,
and to pay dividends when ordered by the
board OF Trustees, which may he done only
When there is a surplus of capital
Art. 10TH There shall be a percentage placed
upon I'LL goods sold sufficient to defray all ex-
penses, aud to accumulate capital of sufficient
amount to do all the business desired and when
the necessary amount be raised the original
stockholders shall be paid oil rs the means &C.
cumulate. The payment of stockholders to be
ordered by the Board of Trustees
Art nth. After the original stock holders have
ent Unions who have been trading with this
store, by the Board of Trustees who shall then
declare all members OF the Union who have pa
tronized the store, to be stockholders in this
Corporation in proportion to the trade thew
have done.
They shall then proceed to selcst Board OF
Trustees to take charge and proceed with the
business, who shall at each annual meeting re-
wise and stock claims aud increase or decrease
each oPkholders shares in proportion to his
or her trade, also declare all new customers
who are members of the Union in good stand |
il s e. ~ '''' '''''''s Al p'op'f''0" :" '"o'f
Art. 18th. No stakeholder shall be allowed 10 |
Withdraw his or her stock only in case of death |
then the heirs mag withdraw the deceased /
members interest in the corporation But no |
stock can he withdrawn, or dividends paid |
ont, except at an annual date set for that pur-
pose.
Art. 18th. Dividends nav be declared nro
rata to stockholders annually at a fixed data.
when the Board of Trustees may deem prope1
to reduce the capital to an amoirnt inst neaas
sary for the trade
Art. litl. No stock shall be sold or otherwise
disposed OF except to members of the Union in
Board of Trustees. - ''o
Art 18th. The original stockholders shal, no
paid eight per cent interest per annum on their
s SO naa no peresntage shall be allowed after
the of1ginai stockholders are paid Off INIT tba |
capital may be reduced as per article 1atl, 'A'
Art l6th, The manager may be removed bv
the stoekholders at any time the Board of Trus
htc w
capacity neglect or otherwise mismana gment
He shall give bond for the faithful discharaa
OF his duties IN the sum OF twice the amount 10
may nave III MS bands which may be increased
or decreased as the business may demand.
The board Of Trustees shall set and raeeivs
The bond.
Original signed J. T.. Penny, Lucins Landre.
leat. W4n Clark
Done passed and signed on tho day above
written In presence of Torihuis Fontenot ana
ne Notary after reading OF the ghole.
Signed ID. Ell. Qnirk. Notary Public, witnesses
roribus Fontenot. c d. Quilk
This is to certify that have examined the
oregoing Act Of Incorporation aud find moth
ng therein contrary to law and thereupon an
,foya tho same-Signed: John n Ogden Dist.
Atty. Opelousas, Feb. 25th 1889
Filed Feb. 18th, 1889.
STATE OF LOUISIANA,
Parish of ST. Landry 5
| hereby certify that the above and foregoing
: . true and correct copy OF the original on flo
nd of record in my office.
Witness my hand and seal of office at Opelou-
as, la. this a5th day OF Feb. A. d. 1882
ALFRED PAYY,
ny. CLERK,