The Meridional. (Abbeville, La.) 1856-1906, 1902-01-04
ARTICLE v.

Board of Directors composed of seven
(7) persons, who must continuously
during their incumbency as directors,
own and hold at least five hundred
shares of the stock of said corporation.
Said Directors to be electeda at a general
meeting of the stockholders convened
for that purpose on the first Monday of
February, 1903. and thereafter to be
elected at such meeting on the first
Monday in February, of each year.
Notice of such meeting shall be pub
lished in a newspaper issued at Able
Vile. La, three times, the first notice
to appear at least ten days preceding
such election. All elections shall be
held at the Office of said corporation at
Abbeville, La under the supervision of
three stockholders appointed for the
purpose by the Board of Directors at
its last regular meeting preceding the
date of such election. The seven stock
holders receiving the highest vote
shall be declared elected. Failure to
hold election on the day specified shall
not cause or operate a dissolution of this
corporation but the directors shall hold
over until their successors are elect
ed and installed. Vacancies occurring
on the Board from any cause whatever,
shall be filled by the remaining Dlrec-
tors from among the stockholders
qualified to serve as Directors. Four
Directors shall constitute a quorum.
Meetings of stockholders not herein
provided for shall be called in the
manner and upon such notice as may
be provided in the Bylaws of said
corporation. Each Board of Directors
at its first meeting, shall elect from its
members a President, a Vice President
and n to serve as Secretary and
Secretary and Treasurer.
ARTICLE. VI.
The following-named persons shall
constitute the first Board of Directors,
and they are invested with all the
rights, powers, and duties herein
specified, and shall continue in office
until their successors are elected and
installed, as herein provided, to-wit:
Victor Won Schoeler, John D. Grace,
Sam We'll, Morgan Hebert, Thomas P.
Fleming, A. Henry Broussard and
Frank Hubert; of whom Victor Won
Schoeler shall oe President, John D..
Grace, Vice President, Sam We'll, Sec
rotary and Treasurer, and Morgan He
bert. Superintendent. The President
is constituted the General Manager of
this corporation and directed to engage
and discharge all officers, employees
and agents of shis corporation, to enter
into contracts and do all other acts and
things in and about the business ofthis
corporation which in his judgment
shall appear just and proper.
ARTICLE VII.
This act of incorporation may be
charged, modified or altered with the
assent of Ihree-fourths of the stock
represented at a general meeting con-
vened for that purpose, after thirty
days previous notice of such meeting
shall have been given by advertisement
in n OF the weekly papers published
in the Parish Of Vermilion; and such
changes as shall be desired ia reference
the capital stock, to be made in &C
cordance with the statute of this State
bearing on such action.
ARTICLE VIII.
No stakeholder shall ever be held liable
or responsible for the contracts or faults
OF SAID corporation in any further sum
than the unpaid balance due on the share |
or shares of stock subscribed for by him:
nor shall any mere informality in organi-
cation have the effect of rendering this
null or exposing a stockhoider to
gnV hnIjI1fV havnnA tba o~nrrt l,o -,
his subscription to the stock.
ARTICLE TX.
At the expiration of Il is Charter. or, if
dissolved, the affairs of this cor
poration shall be liquidated by three
commissioners 70 be appointed by the
Board of Directors and such Commits
are hereby vested with full pow
power to sell any all the assets and prop
erty, both real and personal, of the cor
and give and grant full and
complete title thereto, and shall have
full power and authority to do and per-
form all acts necessary. useful and prop
liquidate its affairs and distribute it's
proceeds. If any, among the stockholders,
in case of the death or disability of
.ne or more of such Commissioners the
or survivor shall continue to
act.
Each and every one of the subscribers
whose names are hereunto signed. sub
scribe for capital stock in this corpora
tion in the amount herein below set OPP
Doslte their respective names.
Thus done and passed in my office in
The Town of Abbeville, Parish Of Vermil-
on, State of Louisiana, on the day and in
The month and year first above mention
sd in the presence of Messrs. Joel Moody
b. w. WarbintOn both of Vermilion
Parish, La. competent witnesses who
a signed these presents with said
lppearers and me, Notary, after due read
ng of the whole.
$50 (Signed) Victor Won Schoeler, seven
Thousand seven hundred aud Gftu