New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1902-03-29
CHARTER OF
The Sattertie|d Company, LID.

State of Louisians Parish of IBERIA.
Be IL known that ON this 22d day of January
A. u. 1902, before me, Fred W Bauman, SotuI
Public, duly commissioned and qualihed III III"
for the Parish of Iberia, State Of Louisiana, per
sonnlly appeared the persons whose names az
pear subscribed, who declared that availln9 theh'
selves of the provisions of the general laws Oh
this State relative to- the organization of corpora
tions they have coyenanted and agreed, aud do ny
these presents covenant and agree, hihd lornl
and constitute themselves ns well as such persons
as may hereafter join or become associated WIN
them into a corporation and body polite In laN
for the objects and purposes and under the agre'
ments and stipulations following, to wit:
ARTICLE |.
The name and title of this corporation SHAH De
THE SATTERFIELD COMPANY LIMITED, ana
under that name it shall have and enjoy all th"
rights and privileges granted by law to corpora
tons 1t shall exist for period of ten tlo) years
Mess sooner dissolved by consent of all the stock
holders; 1t shall have power to contract, sue ana
be sued in its corporate name, to make and use
corporate seal, to hold, receive, mortgage by
pothecate or pledge property both real ana per
sonal issue bonds, notes and other obligations; I"
have and EN- plpy such managers, officers director"
and other agents and other employees rs the in
terests and conv enience of said corporation mhy
require, and to make aud establish bylaws, rates
and regulation for the proper management ana
control OF the affairs of said corporation as ineS
be necessary and expsdtent
The domicile of said corporation shall he in the
City Of New IBERIA Parish of IBERIA In this state,
and all citations and other legal process shall be
served on the President, aud in his absence the
Vice President, aud in the absence of both upon
tho Secretary aud Treasurer of said Company.
ARTICLE III.
The object and purpose of this corporation and
the nature of the business to be carried on by 4
are hereby declared to he To- denl in and sell FOR
it's own account or un commission dry goods,
merchandise, groceries, provisions and other com
modites generally.
ARTICLE "
The capital stock Of this corporation is hereby
fixed at Nine Thousand $50 900 ool Dollars
divided into Ninety shares of ono Hundred Dol
lars each which said amount is the par value of
each share which shall be paid for in cash when
subscribed for or its equivalent in goods
chandise. as the Board of Directors may direct
which capital stock may he increased to n sum
of wo-thirds of the stock present or represented
at meeting called specially for that purpose in
the manner pointed out by law; during the period
between the call for the meeting and the meeting,
the persons holding stock at tho time shall have
the right to take shares of the additional or in
creased stock proportionate to the number of
shares not taken at the expiration Of said period
may be disposed of by the Board of Directors for
the benefit Of the corporation Mt not less than par
value; all shares of stock shall be full paid aud
non assessable; no transfer of stock shall be bind
ing upon the Company unless recorded on its
books, and made in pursuance of its Charter and
By laws. None of the stockholders shall have the
right to transfer or assign any of the shares held
by any OF them without having first offered the
same to the Board of Directors, which shall have
the right to purchase them within Sixty days
thereof at their book value, ms shown by the
stock taken last preceding the transfer. The said
Board shall also have the right of calling in and
acquiring any of the outstanding shares at their
book value upon giving thirty days written notice
to the stockholders whose share shares II is the
intention OF said association to so retire. All
shares purchased by the Company may be re
issued by IL at not less than their par value
There shall be written printed across each
certificate OF stock those shares are issued and
shall be subject to the charter and by laws of the
corporationD
ARTICLE V.
All corporate powers of this Company and the
management and control of its business shall be
vested in and exercised by Board of Directors
composed of Three CD stockholders which mum.
Der may he increased to Five by vote of the ma.
jority Of shares present or represented at any
call and special meeting of the stockholders
A majority of the stockholders shall con.
stitute a quorum for the transaction of ali
business The Directors shall be elected ANN.
ally by ballot by the stockholders on the First
day of February of each year Each stock holder
shall be entitled in person or by written proxy
to a vote for every share of stock owned by him
and all elections shall be held under such rules
and regulations as may be determined by the
elected shall serve for One "a year and until
their successors shall have been duly elected and
qualified. No failure to elect shall be regarded as
a forfeiture of its Charter. Any vacancy occur.
ing on said Board shall be filed by the remaining
Directors for the unexpired term The Board OF
Directors shall at its first meeting after its ecc.
ton on the first of February A, u. 1903, nomin.
ate out of its number n President Vice President
a Secretary and Treasurer
1t shall have authority to combine the functions
of Secretary and the Treasurer and to appoint one
officer therefor. The Board of Directors shall
have power and authority to appoint or dismiss
the clerks managers and other employees that
may he deemed necessary by them tor the proper
conduct and management OF tho affairs business
any interests Of said corporation
Any Of the Directors shall have the right to ap
point by written instrument another Director as
his proxy to act in his stead at any and all meet
ings of the Board of Directors
ARTICLE VI
Until1the election to be held on first of February