St. Landry democrat., 1889-08-10

! Of this Corporation IL any further sum thar
! the unpaid balance due OF. the share OF stock
held by him. nor shai any mere informality in
! organization have the effect Of rendering this
! Charter null. or of exposing Stockhoder to
any liability beyond the amount OF his stock
ART. 6. subscriptions for shares ia the capI
/ ;al stock shall be received only from Individual
members in good standing OF subordinate
! Unions holding CEartcra from the STATE Farm
! er'9 Union of Louisiana. and application Tor
shares must he accompanied by nifty per ecu.
i in cash OF the amount Of stock subscribed for.
! ana the balance to BE- paid within thirty days
! from date Of applications. when certificates 81
stock shall he issued i'll HE name OF the stock
holders, soon rs ti2 tn; ";'i"lInt subscribed
! for shall be paid u.
APT. :. Each Slbuuio4 whose member.
! subscribed for stock shall be entitled 10 nne
delegate Tor each ten allarrs or Traction thereof,
said delegate TO be elected by those members
subscribing for stock and from their number,
said delegate 10 represent said stockholders in
q Parish Contention 10 be held annually Tor the
election OF 4 board OF directors
ART. 3. All the corporate powers OF this Cor
p0rnion shall Gc vested in and exercised Ivy II
board OF nine directors. tive OF whom shall con
eitutc a quorum for the transaction of bus
ness; the ttricgatr representing the stock
holders OF this Corporation shall elect these
directors from their number on the third We'd
nesd;ty "f July 1880, and tlercaft"rnu the third
Wednesday OF July OF each year III the Office Ot
this Associations the MINORITY OF III" votes cast
shall elect. and each Hn shares Of STOCK shall !fc
entitled to enc vote IN be cast hH the holder
directors then elected shall serve and continue
in Office until their successors SHALL have been
elected. A tIiiurc Ia elect directors on / lie dale
above specified shall not dissolve the CORPORA
ton hUt the then existing nuLrt of directors
shall continue to holt their offices, and another
election shall be held within thirty days there
after whereof ten days prior motto" shall be
gwen in one of Tic weekly newspapers pun
lshtd i'll the City 0f OprI0us;l~ ana in the Of
fetal Journal OF III" Farmers Stale Union OF
Louisiana Vacancies Occurring in III" said
E. y,
by the remaining directors from among the
eligible Stockholders OF the Association. The
board Of directors Ht their first meeting in each
year, Oh the day following their election shall
eject ont nt their number Il President. Il Vice
President ami Il secretary. is well u- appoint
from 1lIIc 10 time, and DISMISS III tier will,
such managers, clerks, agents and employees as
may Dc Declined necessary Tor HE business and
purposes OF this Association, and fix their rr.
muurration aud make and establish a. well as
aunul and alter all hy-l;tWS rules and rogula-
lions deemed requisite for the support and
management Of tilc affairs and business of the
Corporation.
ART. .. The hil.lnc>> muil;tI,r OF the St Ian
dry Parish Farmers Cuiou Commercial Assoc
citation shah be elected annually by the Parish
Farmers Union 1T it, regular meeting in JuIv
OF each year.
ART. TO- All profits earned Shall be applied,
first, to pay MI operating expenses; second TO
pay : per cent per anllm on the amount Of
paid NJ capital stock, the balance Of profits il
amy shall he distributed amongst the stock
holders.
ART. H. This act Or Incorporation may Ia.
changed, modified and altered, or sait CORPORA.
ton may he dissolved with the consent OF three
IOurthS Of the stock represented and a majority
Of the amount thereon issued at any general
meeting Of the stockholders Of said CORPORATION
convened tor such PURPOSE after thirty DAYS
notice OF said meeting shall have been pre-
NionSlE given by advertisement in one weekly
paper published III the City OF OpclouSas and III
the Official journal of the Farmers State Union