The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1889-09-26
CHARTER
CHARTER
OF Incorporation of the
Fielder School House ALI
ance Cooperative MiU and
Gln association.

PURPOsE-To establish "A cooperative
mill and gin association.
SECTION l. BE it known, that We are
hereby created II body corporate with
perpetual succession under the name and
styIe of the Folder School House Farmers
Alliance Cooperative Mill aud Gin Assoc
citation, and by that name may sue and
be sued. plead and be implicated in all
courts of law and equity; contract and be
contracted with, and adopt corporate
seal and alter or change the same AT
pleasure.
SEC. .. This association shall be COM
posed of any Alliance members i'll good
standing who may become stockholders.
SEC. 3. The Stockholders shall elect u
Board of Directors, consisting of SIX MEM
beers. The two first of whom shall be
elected for term of three years, the sec
ond two for a term of two years, and the
third two for u term of one year
SEC. 4. The Board OF Directors shall
elect annually President, "a Vice-P resi-
dent, u Treasurer and Secretary, VIII"
shall perform the duties appertaining 10
their several offices.
SEC. s. The shares shall be SO 90 each
and no one member shall be allowed 10
take more than twenty shares.
amount of stock to any of the Company,
but shall not be allowed to withdraw I'M
der three years.
SEC. T. Each stock holder shall have
one vote for each share paid into the
treasury.
SEC. i. A majority of the Board may
constitute quorum.
SEC. 9. There shalt be no interest al
lowed on any such stock held or subscrh
ed by any stockholder, but there
shall be dividend stricken annually on
the 1st of March, and all interest OH stock
shall come as the dividend.
SEC. TO- That said company shall have
power to own and purchase property both
real and personal, to sell, convey, and
otherwise dispose of same, erect such
warehouses, cotton sheds and other tene-
ments they deem necessary to carry on
the business of the company.
SEC IL. That said company shall have
tho right 10 borrow money and to that
end may mortgage it's property, its earn
ings, and issue notes or bonds or otherevl-
dences of debt, but no stakeholder shall
be liable for any Indebtedness beyond the
amount of stock held or subscribed by
him or them, aud it shall he unlawful for
the COMPANY to contract debts III excess
of its capital stock.
SEC. II. That the capital stock OF said
company shall be 81 900, which may he
increased by II majority ofthe stock hold
ers to any amount not to exceed $4,000.
SEC. Is. That the Board OF Directors
shall have power TO make such bylaws,
rules and regulations for the control ana
deliberation of their body, aud for the
management of tue business of said cor
poraton as they may deem necessary,
SAID by laws to he ratified by II majority
vote of the Stockholders.
SEC. IA. That the domicile of said cor
poralion shall he in the county of Lincnln
and State of Mississippi, and all notices
of II meeting of the stock holders shall he
given either by service in person or by
written notices bv mail upon each stock
holder.
SEC Is Process issued from any court
npon any snit for or against said cont
pany shall he served as provided hy the
general laws of the State upon. tins sub
ject.
1.-THE above is the charter which the
Governor of the State will be asked t"
approve so soon as this publication is
[Sept. 12-3w.