The Frankfort roundabout. [volume] (Frankfort, Ky.) 1882-1908, 1890-09-20
ARTICLES OF INCORPORATION
OF THE
LeCompte & Gayle Go.

THE undersigned, Joseph LeCOmpte and j. W.
Gayle, do hereby associate themselves to
gether and become Incorporated under these
| articles of incorporation.
l; The name OF the corporation shall be The
LeCompte Gayle Company and under said
| name said corporation shall sue and be sued
contract and be contracted WITH and shall &C.
quire and hold property. Said corporation may
have and use common seal and may alter same
| at pleasure.
2. Said corporation shall have power to buy
and improve and sell real estate situated In the
city OF Frankfort, KY, such as they (the men,
| berS Of the cOrpOratiOn) may consider necessary
or proper for the transaction of first class
drug business. or for the protection or enhance
| ment of said business. Said corporation shall
have power to conduct wholesale and retail
| drug business.
3. The principal place Of transacting the bust
ness Of said corporation shall be In the city Of
4. The capital stock of said corporation shall
not exceed twenty-five thousand ($25, 0OO) dollars
and same shall be divided into shares of 800
each. Said capital stock shall be issued and paid
In paid for at times and upon such terms as the
board of directors may from time to time deter
mine. The certificates OF stock shall be signed
BY the president and cOuntersigned by the Sec
s. The private property of stockholders shall
be exempt from the corporate debts.
g. The said corporation shall not at any one
time subject itself to greater amount of in
debtedness or liability than an amount equal to
one-h half Of the paid up capital stock.
board Of directors, who shall have the control
and management of Its affairs.
There shall also be president and secretary,
and also or desired by the board of directOrs)
such other officers as may from time to time be
constituted by the bylaws, and appointed In
conformity Herewith.
Joseph LeCOmpte shall be president and j. w.
Gayle shall be secretary OF said corporation, and
shall hold their offices until their successors be
chosen as hereinafter provided. On the Sd Mon
day In January, 1891, and on the Sd Monday In
January Of each succeeding year thereafter, the
stockholders shall meet and elect from their
number board OF directors, who shall hold
their offices until their successors be chosen.
The board OF directors 80 chosen shall on the
same day elect the president and secretary of the
corporation and such other officers as may have
been constituted as hereinbefOre provided. The
president, secretary and said other officers shall
be removable at the pleasure OF the board OF
directors. II for any reason the annual meeting
of the stockholders be not held at the time here
In provided, 1t shall be held on day as soon
thereafter as practicable, and due notice OF the
time and place OF such meeting shall be- given to
each stakeholder. In the event of the death or
| resignation OF any one OF the directors, the re-
malIder of the board shall act as the entire
board Of directors. In meetings Of the stock
holders, each share Of stock shall entitle the
holder to one vote, and majority In interest
shall constitute quorum for the transaction of
business. and In meetings OF the board OF dlrec-
tors majority In number shall constitute quo
rum for transaction Of business
g. The corporation shall commence business as
soon as $4,000 stock shall be subscribed for.
No stock shall be issued until paid for In full
In cash.
o. The president and secretary elected by thu
board of directors shall be elected from thei =
number. but other officers constituted by the by
laws, should there be such other officers, may Or
may not be directors or stockholders.
Witness our hands this 9th day Of August,
1880. Jos. LECOMPTE,
Aug. SOFT. j. W. GAYLE.