The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1890-12-12
CHARTER OF INCORPORATION
Ocean Springs Co. ODern1ipe
Company.
.oF THE

Be it known by this Charter of Incor-
pOrafion that II. +. Russell, j. KOtzum,
+. M. Weed, j.. ID. Minor and A. V. RO-
sambeau, together with such others AZ
NAV hereafter associate themselves with
them and their assigns and successors, aro
hereby created q body corporate under
the name and style Tux OCEAN SPRINGS
CO-OPERATIvE COMPANY, and us snch
shall have and crj0y perpetual succession,
and shall have and ENJOY and exercise the
power incident to and granted to corpora :
tions under and by virtue of Chapter
Thirty-Light of the Revised Code of 1850,
and the several acts a~mendatory thereto.
SECTION 2. The purposes for which
this Corporation is created are hereby de-
Glazed 10 be, to acquire by purchase IL lot
of grOund aud to erect a 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 it is organized.
SEC. 3. The capital stock of this Cor
poration Is hereby fixed at Eighteen Hun
dIed Dollars Isl .900.00), divided into
shares of Twenty-Five 1925 .00) each.
SEC. 4. Said stock shall be payable by
the Subscribers thereto as follows, tO-wit:
Thirty-three and one-third- (334) per
cent. in cash, rs soon as all tho shares of
stock shall have been subscribed, aud the
balance in two ~ equal payments of
Thirty and Sixty Days thereafter prOvi-
ded, however, that if any stakeholder so
desires, he may pay the whole of his stock
IN caSb upon SObSpribiDJ thprpfO.
SIC. 5. This Corporation is authorized
to begin operations aud commence bnsi.
ness when the capital stock of Eighteen
Hundred Dollars Isl 800. COY shall have
been subscribed and one-thiId of tho
amount in cash paid thereon.
SEC. 6. The officers of said Corporation
shall consist of II President, Three Vice
Presidents, Secretary and Treasurer, and
a Board of not less than leu (l0) nOr
more than Fifteen (15) Directors, to be-
chosen from amongst stockholders of said
Corporation.
SEC. 7. Immediately upon the organi-
cation of this Corporation the ~stockhOl0-
ers thereof shall meet in the Town of
Ocean Springs and elect not less than Ten
(l0) nor more than Fifteen (l5) Directors,
who shal 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 rs aforesaid meet and
elect from their number u President, Three
Vice Presidents, Secretary and Treasurer,
and annually thereafter the Directors
who may he elected shall meet IN said
Town and elect officers as aforesaid.
SEC. s.. No stockholder of this Corpora
ton shall be held o: made liable for the
corporate debts in any amount greater
than the unpaid balance due by said
stakeholder for stock owned and held by
him.
SEC. Q. The domicile of said Corpora
riOn is hereby liked in the Town of Ocean
Springs. County of Jackson, State OF Mis-
sissiPpi, and it's place of business shall be
there located.