The Brookhaven leader. [volume] (Brookhaven, Miss.) 1883-1891, 1889-09-12
CHARTER
OF Incorporation of the
FIELDER School House AIlj-
a,,ce Cooperative MttI and
Gan association.
CHARTER

PURPosn-To establish a cooperative
mill aud gin association.
SECTION |. Be il knowu that We are
hereby created body corporate with
perpetual succession under the name and
sty lie of the Fielder School House Farmers
Alliance Cooperative Mill and Gin Asso-
citation, aud by that name may sue and
be sued. plead and be Implicated i'll all
courts of law and equity; contract and be
contracted with, and adopt a corporate
seal and alter or change the same at
pleasure.
SEC. 2. This association shall be com
posed of any Alliance members in good
standing who may become stockholders.
SEC. 5. The stockholders shall elect u
Board of Directors, consisting Of six mem
bers. The two first of whom shall be
elected for term Of three years, The see
ond two for Il term of two years, and the
third two for u term of one year.
SEC 4. The Board of Directors shall
elect annually President, II NicePIesi-
dent, Treasurer and Il Secretary, who
shall perform the duties appertaining to
their several offices.
SEC. S. The shares shall be $40 90 each
and no one member shall be allowed 10
take more than twenty shares.
SEC. g. Any stakeholder may sell his
amunnt of stock TO any OF the Company,
but shall not be allowed to Withdraw uu-
der three years.
SEC. 7. Each stakeholder shall have
one vote for each share paid into tho
treasury.
SEC. 8. A majority of the Board may
constitute quorum.
SEC 9. There shall be no interest al
lowed on any such stock held or subsrrlb
hx- ~ lh,l II
shall be dividend stricken annually Oh
the LIST of March, and all interest on stock
shall come as the divi end.
SEC. 10. 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. II. That said company shall have
the right 10 borrow money and to that
end may mortgage its property, its earn
ings, and issue notes or bonds or other evil
dences of debt, but no stock holder shall
be liable for any indie beyond the
amount of stock held OF subscribed by
him or them, aud it shall be unlawful for
the company to contract debts IN excess
of its capital stock.
DEC. IL. udt tuo C'pitdi otoCh VI oaiu
company shall be 81 200, which may he
increased by a majority Of the stock hold
ers to any amount not to exceed $4,000.
SEC. 49, That the Board OF Directors
shall have power to make such bylaws,
rules and regulations for the control and
deliberation of their body, and for the
management of the business of said cor
poration as they may deem necessary,
sa,d by laws to be ratified by majority
vote of the stockholders.
SEC. Ia. That the domiciie Of said cor
poration shall be in the county of Lincoln
aud State of Mississippi, and all notices
of meeting of the stock holders shall he
given either by service in person or by
written notices by mail upon each stock
holder.
SEC. Is. Process issued from any court
upon any suit for or against said COM
pany shall he served as provided by The
general laws of the State npon this sub
ject.
1.-THE above is the charter which the
Governor of the State will be asked 10
approve so soon az this publication Is
cOmplete.] lSept. l2-3w.