The Ouachita telegraph. [volume] (Monroe, La.) 1865-1889, 1889-01-12
LEGAL ADVERTISEMENTS.
CHARTER OF THE
Farmers Union Cooperative
Association"
lLINITED.I
fLIMITED.}
ARTICLE r.

ARTECE +.
TnlS CORPORATION SHALL. RE
L known and desiSnated by tho title OF
''tarmer's Union Cooperative Association,
-Limited;" It's domicil shall be In the city
of West Monroe, La., and 1t shall extst and
enjoy succession for II period Of Minety-nine
years from the date hereof unless sooner
dissolved.
absence the secretary and treasurer, shall
be the officer upon whom all citations and
other legal process shall DO served.
ARTICLE II.
The objects and purposes of this corpora.
ton are declared to be: to buy and to sell
in its corporate name and capacity. ovory
species Of propsrty, both resi- and Psrsonat:
West Monroe . GonerAl mercantile ousi-
ness with tho right to buy aud to sell mor-
chandise and produce Of every description
own and employ such drays. doats and
oi her an xiliAries ~ the necessities OF the
business may require. 90.
ARTICLE III.
The cspital stock OF this corporation 10
hereby fixed ut not lsss than Ave Thousand
dollars with privilege Of extending to itfty
Thousand d"lisrs. =, The ne nnmnsr OF Insrs. =.
five dollars esch,- payable on demand in
cash at thetime Of subscription.
ARTICLE ".
Any member Of the Farmers Union in
good standing shall be entitled To take
stock.
ARTICLE V.
All the corporate powers Of this company
shall be vested in and be exercised by .
eleven stockholders: J. Il. EdwarIs, Robt.
McCrsry, @. +. Mckenzie, 8. r. Lewis, e.
y. Wallace, John +: Heater. J. 8. Henry J:
Z. F. Terry shall compose the Arst board
of Directors with J. r. Edwazds ~ proAi-
dent, s. p. Lewis AZ secretary, and q. +:
Mckenzie AS treasurer. and the SAID hoard
shall hold their offices until the hrat Mon
day in December, 1889, or until their sue
cessors are elected and qualified. and on
the same day annually thereafter, an cleo
ton for choosing directors shall be held ut
the office of the company: majority OF
votes cast shall elect, each stockholder 10
holder or by proxy; all elections to BE- held
by ballot, and any vacancy occurring on
SAID Board shall be filled Ivy the remaining
dill ectors.
ANY failure to elect directors vt any reg
ular meeting Of the stockholders. shall not
dissolve the company, but the directors
therein Office shall continue to exercise
functions until 4 new B0ard 10 elected.
Seven members of said Board shall CON-
stitute quorum for tho transaction Of bus.
mess, ana said Board Of Directors a. we'll
as tho one hesein provided for, shall have
the right to adopt such bylaws. kulo. and
Regulations for the transaction OF the bnsi-
ness of said company AS may be necessary,
anC to cause to be made and to uso COR
select, and shall elect all officers herein
provided for, and such other oficsrs ~ the
necessities Of the business May demand.
ARTICLE VI.
No member holding stock lit this cor
poration shall have tho right To- Withdraw
his stock under five years. and not even
then, if there are any liabilities existing
shall Inc re DO withdrawal ofstock except
upon two-third vote OF all The stockhOl-
ders and no member making application
to wit hdraw stock shall vote upon said sr-
p''''' '''' ARTICLE VII.
All profits earned, and all effects OF the
corporation shall first be applied to the
payment OF expenses OF the corporation,
Of the corporations, and second, TO be dis
trihuted pro rata among the stockhofders.
ARTICLE VIII.
corporation dissolved by y vote OF two
thirds of the stockholders present or rop-
resented at y meeting of the stockholders
convened for that purpose after fifteen days
each stakeholder, or after fifteen days publ
cation thel eof in one of tho newspapers of
the CITY of Monroe as the President may
elect.
Special meetings OF the stockholders may
he called by the president, or in his absence,
by the secretary and treasurer, at any time
upon similar notice.
In the event of tho dissolution, or Mt the
expiration of this charter, the liquidation
of the affairs OF the company shall be con-
duct cd by two commissioners to DO elected
by ballot at general nesting of tho stock
holders convened for that purpose. aud
minority of the stockholders present or
represented shall elect.
The commissioners thus elected shall at
once proceed to settle and wind up the bus
dispose OF its assets, and on payment OF its
liabilities, distribute the excess pro rata
among the stockholders.
ARTICLE TX.
Ne stockholder OF this company shall
ever he held liable or responsible for the
cont racts or faults OF the same in any fur
Their sum than the unpaid balance due to
nor shall any mere informality In Organt-
zation have the effect OF rendering this
charter null or of ex posing any stockhold-
ers to liability beyond the amount OF his
stock.
Thus done and passed ON This 2lst day Of
December 1888, at the city OF Monroe, La.
III the presence OF >. T.. Lewis and X. A.
Young, competent witnesses, who sign
their names hereunto, together with the
parties to this act, and me, clerk and ek-
ofiicio Recorder and Notary Public
ROBT. MCCRARY,
Attest q. T.. Nick ENIfE.
S. T.. LEWIS.
Il. 4. YOUNG. -
lsr>, Clerk and ex,ofiici" Recorder
>EA' and Notary Public.