The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1893-03-04
East Carroll Opera House and Build.
Inc Association Limited,

The domicile shall be and remain at the
town OF Providence, parish of East Carroll.
State OF Louisiana. and 1t shall commence
business as soon as two thousand dollars
shall have been subscribed and this charter
recorded.
Ii shall have and enjoy succession by its
corporate name for period of twenty-five
years from this date. unless sooner dissolved
IS hereinafter provided for; and it shall
have power and authority to contract. and
to sue and be sued in its corporate name !:
60 make and use a corporate seal. such rs
may he selected by the Board of Directors,
and the same to alter or break at their
pleasure; to hold. acquire. receive. sell,
purchase, convey, lease. mortgage, pledge
ana hypothicate such property real. person.
al or mixed under their corporate name aud
under the restriction established by law las
In the opinion of the Board of Directors
may be necessary, convenient and proper
for the transaction of the business thereof.
and the accomplishment OF the objects and
purposes for which it is established: TO
name and appoint such managers. directors.
officers and employees as itsneeds, convent
ences and interest may require to make
and establish such bylaws for the proper
management and regulation of It's affairs us
may be necessary and proper, and not in
consistent with this charter or the laws OF
this State or the United States; and gener-
ally to enjoy. possess and exercise all the
rights, powers aud privileges granted by
law to such corporations.
ARTICLE III.
The objects and purposes for which this
corporation is established and the nature
of the business to be carried IN by it are
declared 10 be primarily to build Town
Hall aud Opera House in the town OF
Providence, and such other buildings as
the Board of Directors may determine,
same to be constructed either in connect
ion Herewith or otherwise.
ARTICLE Ill.
The capital stock of this corporation rs
hereby declared to be the sum OF Twenty
five Thousand Dollars. divided into 5000
shares of Five Dollars each. twenty five per
cent of which shall be paid on subscription
and the balance when and how the Board
of Directors shall determine, provided a
notice of at least 80 days shall be given to
each subscriber for the payment OF what
ever instalment may be required by the
Board OF Directors. which snail not exceed
% per cent. every 30 days, and in case any
shall fail TO pay any such in
stallInent at the time appointed after having
been duly notified as herein. the Board of
Directors shall sell the stock owned by
him. or her. at public auction after Ii days
advertisement. and after payir out Of the
proceeds thereof the smount OF said call
aud all costs and expenses. shall pay over
She balance 10 the owner o. said stock.
All stock shall be transferred on the
books of the Company in such manner aud
form as shailb provided in the bylaws
No stakeholder Of the Company shall be
permitted to sell or dispose Of in any man
ner his share or shares OF the stock without
irst offering the same In writing at its
market value to the Company through its
President or Secretary and If the Company
should fail to purchase the same at the sald