The Brookhaven leader., 1889-09-19
CHARTER
Ot Incorporation Of the
Fielder School House All
atce Comparative Wilt0nd
Can association.

PCRPOSE--IO establish cooperative
mil and gin association.
SECTION l. BE il known, :hat We are
hereby created II body corporate with
perpetual succession under the name aud
style of the Fielder School House Farmers
Alliance Cooperative Mill anu Tin Assn
citation, aud hy that maine may she and
be sued. plead and he implicated in all
courts of law aud -tYuity; contract aud be
contracted with. and adopt = sorpnratc
seal and alter ar change she same al
pleasure.
SEC. .. This association shall be com
rOscd of any Alliance members III good
standing who May beceaae t0ckhnlderS
SEC 3. The stucklolderS shall elect
Board of Directors. cousistNugO of SIX mem
beers, The two first "t wh"m shall he
elected for term of three Arars, the sec
ond two for "a term of two years, and the
third two for a term of one year.
SEC. A. The Board al Directors shall
elect annually President, Fice-PIesi-
dcut, Il Treasurer and a Secretary, VIII"
shall perform the duties apperiaiuing to
their several Offices.
SEC. 5. The shares shall be $40 90 each
and 10 one member shall be allowed to
take more than twenty shares.
SEC. 6. Any stakeholder may sell his
amount OF stock Ia any of the Company,
but shall not be allowed to withdraw un-
der three years.
SEC. Z. Each stock h"dcr shall have
one vote for each share paid into the
treasury.
SEC. s. A majority of tho Board may
constitute quorum.
SEC 9. There shall be no interest al
lowed on any such stock held or subscr,h-
IA hul h,4r
shall be divi lend stricken annually on
tho l>t of March, and all interest on stock
shall come rs the divi' end.
SEC 10. That said company shall haN'
power to own and purchase property both
real and personal, To sell, convey, and
otherwise dispose Of same, erect sncl,
warehouses, cotton sheds and other trnt
ments they deem necessary to carry o'
the business "f thr company.
SEC IL. That said company shall have
the right 10 borrow money and To that
end may mortgage its property, its earn
ings, and issur notes az bonus or nIhrre\I
denceS of debt, but nn stock holder sla,
be- liable for any Indebtedness beyond til,
amount of stock held or subscribed b>
him or them, aud il shall be unlawful f"'
the company 10 contract debts IN Excess,
of its capital stock.
SEC. IL. That the capital stock oil sai'
company shall he $1,000, which may b.
incr ascd 10y IA majority OF the stock hola
1 rs 10 any amount not To exceed $40, 600
SIC. Is. That the Board OF Dneciur
shall have power to make snch bylaws
rules and regulations for the control an,
deliberation of their body, and for tn
management of the business of said cor
roration as they may deem necessar,
SAID by laws to he ratified by majorit,
vote of the stockholders.
| SEC. Ia. That the domiciie of said cor
porarion shall be in the county of Linenl
and State of Mississippi, aud all notice
of meeting of the stock holders shall /,
given either by service in person or b.
written notices by mail upon each stock
| holder.
SEC. Is Process issued from any cour
upon any suit for or against said CON
Pany shall he served ms provided by III
general laws of the State upon this sui
ject.
1.-THE above is the charter which th
Governor of the State will be asked I
approve so soon as this publication
completed lSept.i2-3w.