The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1893-02-11
East Carroll Opera House and Build.
Ing Association Limited.

The domicle 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 Fave been subscribed and this charter
recorded.
1t shall have and enjoy succession by its
corporate name for a period of twenty-five
years from this date. unless sooner dissolved
as hereinafter provided tor; and il shall
have power and authority to contract. and
to sue and be sued in its corporate name !:
to make and use a corporate seal. such as
may be 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
aud hypOLhicate such property real, person
al or mixed under their corporate name and
under the restriction established by law AS
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 il is established TO
name and appoint such managers. directors,
officers and employees as its.needs, convent
ences and interest may require: to make
and establish such bylaws for the proper
management and regulation of it's affairs as
may be necessary and proper, and not in
consistent with this charter or the law6eof
this State or the United States; and gener-
ally to enjoy. possess and exercise all the
rights, powers and 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 il are
declared to be primarily to build a Town
Hall and Opera House in the town of
Providence. and such other buildings rs
the Board of Directors may determine,
same to 5e constructed either in connect
ion Herewith or otherwise.
ARTICLE III.
The capital stock of this corporation IS
hereby declared to be the sum of Twenty
five Thousand Dollars. divided into 900
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
notice of at least 30 days snail be given to
each subscriber for the payment oil what
ever installment may be required by the
Board oil Directors, which shall not exceed
% per cent. every 80 days, and in case any
stakeholder shall fail to pay any such in
stallment 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 10 days
advertisement. and after payir g out of the
proceeds thereof the amount OF SAID call
and all costs and expenses, shall pay over
the balance to the owner OF said stock.
All stock shall be transferred on the
books of the Company in such manner and
form as shall be provided in the bylaws
No stakeholder of the Company shall be
permitted to sell or dispose oil in any man.
ner his share or shares OF the stock without
first offering the same In writing at It's
market value to the Company through its
President or Secretary aud IL the Company
should fail to purchase the same al the sand