The Greenville times., 1891-06-20
Charter Of Incorporation OF
The Security Abstract Company

Article lst The following parties are |
the cOrpOrators to-wit: W. A. Ever |
man, III. X. Johnson. o. IL, Perry, &. |
w. Thomas, Charles IL. Startling, II. 4.
Watson and +. +. Larkin, as well as |
such other persons as may hereafter be-
come associated with them Ortheir sue !
cessors, 70 form and constitute corpor-
alton and body polite In law for the |
objects and purposes and under the
agreements, covenants and stipulations
following, to-wit:
Article 2nd. The name Of this corpor-
alton shall be "The Security Abstract
Company by that name said corpora
tion shall have power and authority TO
exist and enjoy succession for the period
of ninety-nine years from and after the
day and date hereof to contract, sue and
be sued and to make and use a corporate
seal and the same to break, alter or
change at pleasure, to borrow and lend
money, to hold. receive, lease, purchase
and convey as well as ALLEVIATE, mortgage
and hypothecate under It's corporate
name, property real, personal and mix
ed. TO name and appoint such managers,
directors, clerks and agents as the busi-
ness affairs and interests Of said corpor-
alton may require, and also to make and
establish such by laws, rules and regu-
lations for the proper management ana
regulation of the affairs OF the said cor
poratiOn as may be deemed necessary
and proper, and the same to change,
alter and amend at pleasure.
Article Ord. The domicile OF said cor
poration shall be in the City OF Green
vile. Washington County, Mississippi.
Article 4th. The object and purpose
OF this corporation and the motive ofthe
business 10 be carried on by it, are here
by declared and specified to be the Abb
stracting of the title to lands living and
being in the State OF Mississippi, the
furnishing of these Abstracts to all par
ties desiring the same, to charge there
for and to do everything pertinent or
any wise incident to the business Of ab-
straetlng, also the dealing In real estate.
and the lending of money or acting as
agent Of others In lending money.
Article 9TH This corporation shall
have powers such as are conferred upon
corporations under an act entitled an
act in relation to corporations and other
associations under chapter 3S of the re-
vised Code of Mississippi, Of 1850, which
went into effect from and after the
first day of November 1850, and subse-
quent acts.
Article 9th. The capital stock Of said
corporation shall be ten thousand dol
lars, which may be increased at any
time by majority vote Of all the stock
to any sum not exceeding one hundred
thousand dollars.
Article 7th. All the corporate powers
of this corporation shall be vested In
and exercised by a Board of Directors to
be composed of five stockholders which
shall be elected annually on the first
Monday in the month Of July OF each
year, beginning in the year lS9l. All
such elections shall be by ballot and
held at the office of said corporation OF
which elections days prior notice
shall be given by the Secretary Of the
Board of Directors. (this rule not to APP
ply to the first election, which shall be
held by consent of majority of the
stockholders at such time and place as
they may agree upon, each share OF
stock shall be entitled to one vote to be
cast by its owner either in person or by
proxy, and majority OF votes cast shall
elect. A failure to elect Directors or
the date above specified shall not dis.
solve the corporation but the incumbent
directors shall then cause another elec.
tion to be called and held. whereof ilYt
days notice shall be given as above pro.
vided. Vacancies occurring in sale
Board shall be filed by the remaining
Directors and these Directors shall con
stitute a quorum for the transaction o
business.
At the first meeting to elect Directors
as aforesaid, the said Directors shal
Immediately therealtereleet one of theil
number to be President and another Il
be Vice-president and shall also elect |
Secretary and Treasurer as we'll as sucl
other officers rs they may deem prope
and the same remove at discretion. Ant
at the first meeting following each an
nual election the Board of Director
shall as aforesaid provided for their frs
meeting elect as aforesaid, President
urer as well as such other officers q
they may deem proper and the same re
move at their discretion.
The Board of Directors may worl
and establish as well MS alter and amen'
from time to time any and all bylaws
rules and regulations that they ma,
! deem requisite for the government an
management of the business and affair
! of said corporation shall have powe
| and authority to contract debts. borroN
4 money, issue notes, bills of exchange
acceptanees or bonds, execute mori
1 cages and generally do all things inc
dental to the objects and purposes {
this corporation and moreover sha
have powers and authority to issue an
deliver full paid shares of stock or bond
or other obligations Of this cOrporatlo
in payment for labor done or none
borrowed or property or rights actual
received or purchased by this cOrpor;
tion.
Article sth. No stakeholder shalleys
be held liable or responsible for til
contracts or faults of said corporatiu
in any further sum than the unpaid ba
ance due to the Company in the share
of stock owned by him, nor shall an
mere informality in organization ha,
the effect of rendering this charter nu
or of exposing a stOckholder to an
= liability beyond the amount of his stoc
and 1t is provided that anything tn
the said corporation may have done u
to the date u the approval of this char
er by the Attorney General aud Il
!" Governor should they approve it) sha
be as solid, legal and binding as If doI
afterwards, provided the said acts a
not inconsistent with this charter.
Article 9Th. The capital stock of sa
!. corporation shall be divided with shar
of SI0O dollars each, and when fiftes
: hundred dollars of said stock shall
5. subscribed for and paid in, the corpor
tion shall be considered as organic,
and ready for business. The sto,
shall be evidenced by certificates VIII,
shall be issued in such form and mann
and transferred in such form and ma
ner as may be directed and determine
BY the laws of said corporation. In q
absence Of said by-laws the Preside
and Board Of Directors may determil