The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-09-16

more stockholders to preside at such cleo
tions as commissioners. In the event OF
the failure of any commissioner or commits
toner's to attend. the president, shall by.
appointment. fill the vacancy Any failures
for any cause whatever. to elect directors
on the day named for that purpose shall
not dissolve the corporation. but the d.
rectors then in Office, as well as the officers
of said association, shall hold over until
their successors are chosen. In such event
the president shall call another election to
be held 10 thirty days and shall give notice
thereof rs hereinbefore provided.
At every election or meeting each stock
holder shall I've entitled to vote for each
share of stock registered in his name, and
may vote by proxy.
The election of directors shall be by bal
lot and the majority in the amount of votes
cast, each share OF stock voted upon to be
counted for one vote, shall elect the person
or persons for whom they were cast.
After each election, the board Of directors
shall elect from their number the officers OF
said association.
The board of directors shall have full
power to fill vacancies in their number
caused by death, resignation or otherwise
from among the stockholders OF the cor
poration.
ARTICLE V.
I The said board shall have full control Of
the property Of this association, and shall
so conduct, manage and use the same as III
their discretion they deem fit and that Ii
consistent with the objects OF this associa
tion and the welfare of the same.
Said board is further authorized to frame
and adopt such bylaws, rules and regula-
tions. as the affairs and business of the
corporation may require. and as is deemed
necessary for the managing and conducting
thereof. provided the same shall not cob
flict with this charter or OF the laws Of this
State or of the United States.
The said board shall elect and appoint q
president, vice president. secretary and
treasurer. and such other officers. agents
employees. clerks and servants as 1t may
deem necessary for the conducting and
managing of the business of this associa-
ton, fixing their compensation, term OF
service. with the right to dismiss them AT
said boards pleasure, and the said board
shall have the right to fix and determine
the salaries the said officers herein pro-
yided for.
ARTICLE vi.
This charter may be changed, modified
or amended; the capital stock increased OF
decreased; or this corporation may be dis
solved at genera! meeting OF the stock
holders. meeting for that purpose, with
the assent of tlIree-fourths OF the entire
capital stock. whether present or repre-
scented at such meeting. Notice of such
meeting shall be served on each st0ckhold-
er by the secretary, in writing, ten days
prior to such meeting.
In case of dissolution or termination OF
this corporation, either by limitation of its
charter or any cause, the liquidation OF its
affairs shall be conducted by three COM
missioners selected from the stockholders
with the assent of three-fourths of the
capital stock, whether present or repre-
scented. at a meeting called for that purpose
as above provided.
Said commissioners shall remaid in office
until the affairs of said corporation shall
have been fully liquldated
In case of the death OF one or more OF
said commissioners, the Survivors or sur
vivor shall continue to act.
ARTICLE VII.
No stakeholder of this corporation shall
ever be held liable for the contracts or
faults thereof for any further sum than the
unpaid balance due the corporation on the