The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1890-12-26
CHARTER OF INCORPORATION
OF THE
Ocean Springs CO-Operaiipe
Company.

Be 1t known by this Charter Of Incor.
pOration that II. +. Russell. j. Kotzum
+. NJ. Weed, J. ID. Minor and A. v. RO
sambeau, together with snch others as
may hereafter ASSOCIATE themselves with
them and their assigns ant. successors, are
hereby created body corporate under
the name and style THE OCEAN SPRINGS
CO-OPERATIvE COMPANY, aud rs such
shall have and erjoy perpetual succession,
aud shall have and ENJOY aud exercise the
power incident to and granted to corpora
tions under aud by virtue of Chapter
Thirty light of the Revised Code OF 1870,
and the several acts amendatOry thereto.
SECTION 2. The purpOs.s for which
this Corporal ion is created ale hereby de-
clared to be, to acquire by purchase lot
Of ground and to erect u building or
buildings thereon for rent or sale in the
Town of Ocean Springs, in the County of
jackson, State of Mississippi aud the
sale, leasing, renting or other use or dis
position of said building or buildings.
And this Corporation shall have and enjoy
and exercise all powers necessary for the
proper management and pursuit OF the
aims and objects for which IL il organized.
SEC. 3. The capital stock Of this Cor
porntiOn Is hereby iixed ut Eighteen Hun
died Dollars t$l, ,sO0.O0), divided into
shares of Twenty Five ($25. .OO) each.
SEC. 4. Said stock shE II be payable by
the subscribers thereto as follows, tO-wit I:
Thirty-thr aud one-thirl (33t) per
cent. in cash, rs soon as all the shares of
stock shall have been subscribed. and the
balance in two (2) equal payments of
Thirty and Sixty Days thereafter provi-
ded, however, that ii any stakeholder so
desires, he may pay the whole of his stock
in cash upon subscribing thereto.
SEC. s. This Corporation is authorized
to begin operations and commence bnsi-
ness when the capital stock of Eighteen
Hundred Dollars t$l ,S00.0O) shall have
been subscribed and One-third of the
amount in cash paid thereon.
SEC. q. The officers of said Corporation
shall consist of u President, Three Vice
Presidents, Secretary and Treasurer, aud
a Board of not less than Ten (l0) nOr
more than Fifteen (l5) Directors, to be
chosen from amongst stockholders Of said
Corporation.
Sect Immediately npon the orgahi-
zatiOn Of this Corporation the stOckhOl0-
err thereof shall meet in the Town Of
Ocean Springs and elect not less than Ten
(10) nor more than Fifteen (15) Directors,
who shall serve for one year from the date
of their election, or until their successors
are qualified and the said Directors
shall, Immediately after the election by
the stockholders M aforesaid meet and
elect from their number President, Three
Vice Presidents, Secretary and Treasurer.
and annually thereafter the Directors
who may he elected shall meet IN said
Town and elect officers rs aforesaid.
SEC. =. No stock holder of this Corpora
tion shall be held o. made liable for the
corporate debts in any amount greater
than the unpaid Lalance due by said
stakeholder Tor stock owned and held by
him.
SIC. Q. The domicile Of said Corpora
Iion is hereby fixed in the Town Of Ocean
Springs, County Of Jackson, State Of Mis-
sissipPi. and its place Of business shall be
there located.
II. +. RUSSELL,
JOS. KOTZUM.
J. ID. MINOR,
I'm. WEED,
A v. ROSAMBEAU.
Ocean Springs. Dec. ia, 1890. 42-4t