The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-04-29
CORPORATION LAWS OF TEXAS
A Digest OF Those Which Relate to the
Charter of Oil Companies.

Article COL Every private V"'PV'"'
'' 10 have succession by ts
corporate name for the period limited
in IL charter not g exceed ntty years, anl
when no ppri0d Is limited Tor twenty {tans'
. 10 maintain and defend Juuleiai pFo'
4. rs make and use common seal.
{ 10 hold purchase, sell, mortgage "
| othoryis,. convey such real md personal
! esfafe ms TIN. purposes Of the corporation
shall require. aud also 20 lake, holn am
/ convey such other properly, roal' persrhh'
/ or nlscd, as shall be- requisite for sur1 cor
porntiou tu acquire In order Ia optah or
secure the pay Tent Of any interference
! or liability due or belonging 10 the COT
1 ( IL appoint aud remove such spbor,
| dinate Officers aud agents as the business
4 Of The corporation shall require, ana to al
! low them il suitable compensation, ,,,,
g. no make by laws mol Inconsistent WIN
! existing laws for Inc management OF ny
/ property. the regulation VI us aHalrs ana
| The transfer OF us stock.
! Z. 70 enter into any obligation or con
/ trart essential 10 the transaction Oh us
i. 10 ncreasc or diminish. by a vote
! Of ITS Stockholders cast as It's bylaws may
/ direct the number Of It's directors or trus-
! tees. 70 be not less than three nor more
1 than thirteen.
.r ATcf s. qa s. gor l, %a{ h io
! amount Of rs authorized capital, by a vote
Of The stockholders. In conformity with the
bylaws thereof, and II a majority OF the
\ Stockholders shall vote for the Increase OF
The stock, the same may be Increased by
the board Of directors. trustees, or other
business managers Of sucl corporations, ana
/ npon such Increase ~ stock being made ~
kaccordauce with the 10y laws, the date ana
amount shall be- certified to the secretary
! Of state by the directors or trustees, and
from the time such certificate Is died, the
Increase Of stock shall become a part of
/ the capital thereof such certificate shall
be hled ana recorded IN TIE, same man
/ nor as the charter. provided that no stock
shall he issued except for money paid.
/ labor done, or property actually received.
/ Article ti2l That TN all eases where the
| amount of the capitql stock of any corpora
/ tion has heretofore been Increased by more
I than one Increase thereof 10 any amount
7 In excess Of double the amount OF the orig
lnal capital, and such Increase has been
/ made with the sanction Of the secretary
I Of state, under his construction OF the law,
( such Increase shall be; ana me same Is
! heielY; Nalnatcd ana declared iegai.
AIllct'' olo. NoIpolH'. onS 'hNi llNe pow
I or 70 h9tro" money o9 inc 'f'alt OF Ihe
/ corporation not exceeding ltS luthorlHeu
/ eapli9i slerh, ana naL, execute pohdS or
pfomlssuly notcS lReletof ana may pledge
I'VE property ana income OF the corpora
/ ton.
Article 81 Whgncyer the full amount
| lug cNpital STOCK shAll nor nave heem al
! ready subscribed IN gooa ialth, the direc-
tors or JtMStess named IN me Charter, or
J hlIl"rtN oi llvHl' may Wltnlh tufte
months atier the ming OF inc, charter; cause
books TO be opened. for receiving subScrin-
! tiuns 10 the capital STOCK OF the corpora
! non ~ Surh lme or times ana ~ Snch
place or places as they may determine:
NlIer auNutS gwen al lcant tnlrty GAYS
( hnllce III newspaper published or Gener-
/ Where books OF subscription are to be
opened q me tlme ana place of opening
DOCKS. which books may be, Kept open III
tne Whoh amount % riplial Is subscribed
Article 600 \ majority of the directors
or Irustees Shhl' constitute a Quorum ana
nr df@ t 10 ~ Nafneles ~ me hoard,
tioh. An Aphual election shall be held for
directors or trustees, ~ snch time and
nlaCG rs the bS-ln"s oil the corporation may
/ require; 49, m
,AUIlcis on1' INC directors q. trustees
sthn cn9"sr pne nl lneif hummer lseSl,
trn,I,,r COW , nG' ~ pcthor NiaT Snu
s1SHSn l aIin Sucn oyher OFFICERS as they
may, qeem necessary FOR tAe corporation.
Eutic "2' rue directors or trustees
may adopt bylaws for the government OF
oIt v g,1p"5an@n nut suGh ~ laws may ee
Mn,otcIS; SuanSHu pr amended ny a majority
VIZ, oi Ine S,ocKnoiaerS az amy election OF
IrVVthl Imrcstus "lueItu lof tnat purpose
onniirotinn ~ ,aioorrtrtS,, eo . On II WiiIteh
ers or mcmbcrs "'''''' VI '"' S'oeNho"'
Article dSs. An cornorations herctof,ra
created aud nov in a%iste,c m,Ier","Ir
law of this State are hereby authorized ia
I increase the number Of directors or trr,.
Il tees OF any such corporations.
Article go In case II should happen
tnat IN election for directors or trustees
] Sholid not he held on the day appointed
! " the hy-lawS OF any corporation, sucn
Aulp"l4'l"h Slaii hoi Tor that reason be
uvvvn" I" ne ulsSoiHeu' nut u shan he
n mMHini "n Wy nInSt gay 60 nod meeting
E,nanres " h Wi'' ~ W. truS1tees "a sncn
iaSs thcroof f"'" w P'NScripeu oy me bE'
| Ar.t,1n cGn Nh ,
ugio,,s ~, i ms S vcmi4r alalrs OF re-
trol ~ n hoarj 40 ' 49,, W u!uet Tue con
nv the mnmbere a. s,'ch nor =" ~ vieete,
/ tbe lille tn MI nrnr,r,y ~ ~, "liuli, INV
! noration shall vest In sucb nv, SUI" eof
I Article 6Gl 1'hc director, ~ 81 Nt.n4,.
shall have the general mSnooc,ncpt ~ M
affairs Of tho rorporation ami uoV diSn Sas,
Of the residue Of the canftaI stock NJ any
time remaining unsubscrihed i'm such man
ncr as the bylaws may prescribe
Article 662. They shall cause n record
to he kept If all stock subscrihef ana
transferred and OF all business transoc.
tlnnS, and their books and records shall
at all reasonable times. be Nnen to the in
spectloa Of ANY end every stnckholder
Article GC3, They shall also, when re-.
CURED by onethird o. the stockholders
tnereCt. present reports In writing of the
sluau9n ana amount OF business of tho
cooperation ana declare and maize such
,ttsNt M OF l9e profits trom. tho cuisines
pcdlont, or MS the bylaws may prcscrihc.
Article GGl ANY corp0ratiop hcratofora
organized and now IN existence uilrr an,
general or special law 81 me repnhlic or
State Of Texas may. hy vote ~ rs
board ~ directors. accept any or an OF tne
provisions ~ thIs titlei and h.rc o,5 ~
ereise all of the rights. powers and nrlyi.