Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1902-08-01
ACT OF INCORPORATION
---OF The .,,,,
''St. JOSEPH BUILDING AND IMPROVE
MENT COMPANY"
srArE on LOUISIANA,

selves of the laws and Constitution OF inc
State of Louisiana, in such cases made and
provided, they contract and agree, and by
these presents bind themselves, as wen as
such other persons as may hereafter become
associated with them, to- form and constIt ts's
a corporation and body polite in law, Tor the
objects and purposes and under the agree.
ments and stipuiations following, to-Wit:
ARTICLE 1.
The name and title of this corporation shall
be est. JOSEPH BUILDING AND IMPROVE
MENT COMPANY and by said name SAID
shall be known, and shall have
succession and corporate existence for and
during the full period and term of ninety nine
years from the date of this act, unless sooner
and by said name may contract
sue and be suod.
Said corporation shall have power to make
and use a corporate seal, and the same 10
alter at pleasure; also to hold, lease, pur-
chase, sell, exchange, transfer and convey,
as well as to mortgage, pledge and hypothe-
cate, under its corporate name, real, person
al and mixed property, also to borrow money
and give security therefor, also to make con-
tracts and to receive grants and donations of
property, real, personal and mixed, also to
name and appoint such managers, directors
may require ,-Rlso to make and establish such
bylaws and rules for the proper management
and for the regulation of the affairs of said
corporation as may be necessary and proper,
also TO possess and exercise all other powers
and privileges which corporations of similar
character are or may be authorized to pos
sess and exercise under the laws and Consti-
tuition OF the State of Louisiana.
ARCTICLE II.
The place chosen for the domicile Of this
corporation is declared to be village OF St.
Joseph, in the Parish of Tensas, State OF
Louisiana.
ARTICLE III.
The purposes for which this corporation has
been organized are as follows, to-wit:
To engage in, conduct and carry on a real
estate and building business in the Parish of
Tensas, State OF Louisiana; and TO this end
and Tor this purpose, to obtain, possess, re-
donation, lease, and exchange, property
real, personal and mixed. To build houses
TO repair and improve houses and to have the
same Duilded, repaired and improved. To
hold, use, maintain and repair said property
real, personal and mixed, and the same to
sell, exchange, part with, aleniate and con-
vey also 10 lease, rent, mortgage, pledge
To borrow money or to purchase or lease
property on its own credit, for the purpose
OF constructing, maintaining and operating
dence OF such indebtedness of said corpora
con for such loans or for the purchase, lease
or construction of such property to issue its
corporate bonds or promissOry notes, bearing
interest at such rates per annum as the said
corporation may elect, payable at such time
and places as may be agreed upon, and for
the security of such bonds or notes, and the
interest thereon, to mortgage and pledge its
property, it's capital stock, its CORPORATE
franchises, and any or ali Of its property real.
personal and mixed.
All citations shall be served upon the Presi-
dent, or In his absence, upon the Vice Pres
ldent or the Secretary and Treasurer of said
corporation, or upon any such other person
as may be determined by said corporation.
ARTICLE w.
SECTION ONE. The amount of the capital
stock of said corporation shall be Twenty
Five Thousand Dollars, divided into Two
Hundred and Fifty shares of the par value OF
One Hundred Dollars each. This charter shall
become operative and this said corporation
shall commence business as soon as Five
Thousand Dollars of its capital stock shall
have been subscribed.
SECTION TWO. The time and manner OF
paying subscriptions for stock of this corpor-
alton shall be fixed and determined by the
Board of Directors, except that no stock shall
be issued unless il be for money or property
actually received or for labor reformed.
SECTION THREE. In case of failure on
the part of any subscriber to pay the whole OF
any portion OF his subscription at the time or
in the manner prescribed by the Board of Di-
rectors, then and in that event the share or
shares OF stock subscribed for by such person
and all payments therefor made thereon,
|may, at their option, be forfeited to the cor
|poratiOn by the Board of Directors after SER
vice OF written notice on the delinquent SUBJ
scriber and failure on his pari to pay the
amount due.
SECTION FOUR. No stakeholder of said
corporation shall ever be liable or held re-
|sponsible for its contracts or faults in any
further sum than the unpaid balance of the
shares OF stock owned by him; nor shall in
formal1ty in the organization hereof have the
effect of rendering this charter null or expos
ing stock holder to any liability beyond the
amount OF the stock subscription subscribed
by him.
ARTICLE V.
The corporate powers of this corporation
shall be vested in a Board of Directors com
posed of seven members hereof. The first
Board OF Directors shall consist of and be
composed and constituted as follows: Robert
Worrell, e. ID. Newell, VIM. NJ. Davidson,
Jos. s. Rodriguez, B. F. Young Joseph Chr.
ry and Abner L. Green.
The Directors herein named sha IL hold office
until the list day OF July, A. ID. 1903 On the
LIST day Of July, A. ID. 1908, and annually there
after on the LIST day of July of each wear a
general meeting of the stock holders OF said
corporation shall be held, and there shall be
selected from the stockholders, a Board of
Directors to serve during the ensuing wear.
Notice of said meeting shall be give by puh-
LEGATION in a newspaper published in the VII
lage OF st. Joseph, Tersas De IRISH, sta q of
Louisiana, for fully ten DAYS prior there. q
At all elections the vote OF majority of the
stock present and represented shall be neces-
sary 70 elect, and the majority of the out
standing stock of the corporation shall he
necessary to constitute a quorum at any such
election, and each stakeholder shall he en-
titled to cast, either in person or by proxy.
one vote for each share of stock held by him
but not to vote on any share of stock trans
ferred within ten days prior to an election
All directors shall continue in office until their
successors are elected and indicted into
office. The directors shall elect one of their
number to be President of said company and
another to be Vice President, and NAV eIact
from among themselves or appoint from
among other members of said comnanv WIZ
are not Directors, one person to he Tres
urer of said corporation and another To he
Secretary, or one person to fill both pos.tions
seq ;s Board T OF Director may also appoint ar
tary or one person TO I'LL both POSITIONS am
such person or persons to be so annointaf
need not be Director or stock holder oi
this corporation. "
Said Board may also appoint such otba,
officers or employees as il NAV deem neces
sary. 1t shall have the power to mi ali wa
c G., occurring IN Its own body, to make
for the government of the business and affair,
of the said corporation, and to chanS IN,
same at pleasure, as it may determine
ARTICLE VI.
This corporation may be dissolved nv III,
assent OF three fourths OF the amount OF tn,
outstanding capital stock at a general meet
ing convened for such purpose after thru,
days notice shall have been given of sncI
meeting by advertising the same in a news
Louisiana. The capital stock NAV he IN
creased in the manner and form provided nv
the general laws OF the State of Louisiana ~,
the Increase of capital stock of such CORPORA
tions. Pm
The capital of this corporation NAV ha 10
creased in the manner and form provided !,
such cases by the general laws Of the STAT
of Louisiana.
ARTICLE VII.
whenever this corporation shall disso,,o
either by limitation or otherwise, or for an,
other cause, its affairs shall be liouiJatad
| its debts paid, and liabilities DISCHARGED On,
| the balance Of its funds, II any, divided M
rata among the stock holders, under the en-
perintence and charge OF three CommissIon
ers of Liquidation, to be appointed for nj
purpose at a-general meeting of the stoct
noiu1rs SeI it tnlrty Gays prior no