The Bolivar County Democrat. (Rosedale, Miss.) 1887-1969, 1903-09-05
CHARTER OF INCORPORATION OF
The Farmers Land Company.

Be it known, That Allen Gray, B.Mc-
Gregor, P. E. Happel. r. R. Williams
and T. J. Brummitt. hereby associate
themselves together, and that they and
their successors and assigns are hereby
created a body polite snd corporate
Under the laws Of the State Of Mississip-
pi, by the name, for the purposes, with
the powers, and subject to the terms and
conditions folio wing, to-wit:
SECTION /.
| The corporate name. by which this
company Is to be known Is THE
FARMERS LAND COMPANY.
SECTION II.
The names Of the persons desiring to
form this corporation are the following I:
Allen Gray, B. McGregor, 2. E. Happel,
R. R. Williams and +. ]. Brummitt.
SECTION H.
| The purposes for which this corpora
It on are created are to purchase, acquire,
take, hold, own, improve, develop, lease,
possess, and enjoy real estate either in
fee simple or otherwise, either as sole
owner. tenant in common, joint tenant
or coparcener with another, the whole
not to exceed in value two hundred and
fifty thousand dollars.
+. SECTION Nv.
To carry out said purposes In addition
-, ear
ton the said corporation shall havc the
power and right to issue, notes, bonds, de.
benturcs or other evidences of debt either
in its separate name or with that Of any
other person, firm or corporation with
whom 1t may own or be interested iii
such real estate or personal property
either as tenant in common, joint tenant,
co -parcener or otherwise, and either In
II its separate name or with such Other
| person, firm or corporation to secure the
same by mortgage or deed of trust or
said property or otherwise to sue and
be sued, to contract and be contracted
| with, to plead and to be pleaded with
and have and use common seal, and
the same to break, alter or renew al
pleasure, and further to do all acts and
things necessary and convenient in the
Judgment Of the officers and directors O
the corporation In order to carry on.
the purposes hereof, and to have, possess
and enjoy all Of the rights, powers and
privileges created or confer, red by OF
enumerated IN chapter rs of the anno
tated code of 1892 which are necessary
and proper for carrying out the purposes
Of this charter.
| SECTION v.
4 The donicile of this corporation slial
be at Dahomey in the county Of Bolivar
in the State Of Mississippi, but may bs
changed at any time by vote Of The
holders of a majority OF the stock thereof
SECTION vi.
The capital stock of this corporation
shall be sixty thousand dollars, divided
into six hundred sharea Of one hundred
dollars each, but may be increased OF
diminished at any tim. by vote Of th,
holders OF a majority of the capital stock
thereof
SECTION VII.
The management of the business of tn.
corporation shall be vested In board o
directors consisting of not less thar
three nor more than FIVE, who shall bs
stockholders Of the company, and who
shall be elected annually by the stock
holders at such time and i'll such manner
as may be directed by the bylaws.
majority of said directors shall consti
tute quorum for the transaction O
business If the number Of directors shall
exceed three, but iii no event shall q
quorum be less than three. Said direc-
tors shall hold their Offices until their
successors are duly elected and qualified
and sliallh power to fill all vacancies
caused by death, resignation or other.
wise.
SECTION VIII.
The said directors shall elect from their
board President and Secretary and
Treasurer and may appoint or elect such
other officers, agents and employees as
they may deem proper, all of.whom shall
hold their Offices until removed by the
board.
| SECTION IL.
The directors of the company shall
| have power and authority TO adopt the
seal OF the company and to make al
sucl, bylaws, rules and regulations as
Esl,alf be necessary for the control and
management of the business of the cor.
poration not inconsistent with the pro.
visions of this charter with any bylaws
| adopted by the stockholders or contrary
to law, but the Same may be revoked
altered or amended and other bylaws
may be adopted by the stockholders at
any general or special meeting
| SECTION X.
The stockholders shall meet annually
at such time and place and upon such
notice as shall be prescribed In the by
laws. At all stockholders meetings a
majority of all the stock shall constitute
quorum. Each stocklolder shall be
entitled to one vote for each share held
by him, but all elections for directors OF
managers OF the corporation shall be
held i'll accordance with Section 1914 o,
the Constitution of Mississippi, and See.