The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-12-26

!
Robert $. Barnett, President Horatio A.
Brown, Vice-President; George NJ. Les
ter, Secretary Treasurer.
Article 5.
This corporation may have and use
corporate seal. the design of which ehall
be selected and changed at will by the
Board of Directors, and II shall have
power to execute and Issue notes, con.
tract sue and he sued ard nil legal pro-
cess shall be served on the President and
in the event of his absence from tho
Parish of the cOmpany's domicile. upon
the Secretary-Treasurer. This company
shall have corporate existence for the
period Of ninety-nine years from this date
| Article 6.
| The Board of Directors shall have DOW
or by majority vote of those present at
any meeting for which y majority shall
constitute Il quorum, to supervise and
administer the business of this corpora
ton, and to make all rules and by laws
| therefor, and to make all contracts and
| agreements necessary or convenient or
incident to the business or purposes of
this company, and to employ all labor,
! either skilled. clerical or otherwise, all
superintendent or managers aud other
employees for the purposes of this COM
pany and to fix AL salaries and wages of
the officers and employees of the com.
pany.
In addition to the other powers of this
! corporation to be exercised by this
Board, the Board shall have power by .
| majority vote IF the full board to create
debts and borrow money for the benefit
of the corporation, and to secure tho same
by mortgage and pledge of its property.
No business other than the regular adj
minis,ratiOn business of the company
! shall be transacted at any meeting unless
due and timely notice has been given to
each director in writing through tho
mails in sufficient time to allow of his
attention, stating the general nature of
the business to be transacted.
Article T..
The President of the Board of Direct
ors shall be the executive officer of the
Board. and shall carry out and see TO the
execution of all the plans and directions
of the Board. All checks or drafts for
the company shall be signed by the
President and Secretary Treasurer. The
President may call meeting Of the
Board Of Directors whenever he deems
it necessary, and he shall call meeting
after giving timely notice in all cases
through the mails or in person for the
attendance of all members. upon the
written application of majority of the
full board, and he shall preside II oil
meetings The Vice-President shall per.
form all the functions and shall have all
the powers of the President in the ab.
sence or in the event of the inability Of
the President to act. The Secretary
Treasurer shall perform the duties usu.
ally done by such officer. The Board of
Directors may provide bylaws not IN.
consistent with this Charter what tho
duties and powers of the several officers
shall be.
Articles.
No stakeholder shall be liable for any
sum beyond his subscription and shall
in no way be liable for any of tho debts
of the corporation. No mere informal
lily in organization shall have the effect
of rendering this charter null. or of ex-
posing any Of the stockholders to any
liability beyond the amount of what may
be due for his stock.
Article 8.
This corporation may be dissolved or
this charter mag be amended by vote
of three-fourths of the capital stock of
the company at a meeting called after due
and timely notice has been given in
writing by mail for at least thirty full
days to each stakeholder.
Article 10.
All stock that is transferred must be
transferred on the books of the company
before the transfer is effective. And no
stockholder is permitted to transfer any
share or shares of stock of this company
without first offering same to tho other
stockholders of the company, who shall
have the privilege of buying the same at
the price that may be offered for same
by any one else by preference over the
person 80 Offering it.; and the stock thus
bought from another stakeholder shall
be divided between the other shaFehold-
ers desiring the same. And no sale Of
this stock to any person except under
the circumstances above stated, shall be
legal.
Article L..
Whenever this corporation is dissolved
by Limitation or otherwise, its Affairs
shall be liquidated by three commission
ers to be elected from among its stock.
holders at meeting Of the same con-
vened after thirty full days notice to
each stakeholder in writing through the
mails. These liquidating Commissioners
shall remain in Office until tho duties and
functions arc fully discharged, provided
that this shall not be for more than six
months. Any vacancies in the number
of these commissioners shall be filed BY
a meeting of the stockholders called for
that purpose after the notice of thirty
days rs above set forth.
Thus done and passed ut my Office in
the town of Franklin, Parish Of 1t. Mary,
State of Louisiana, on the day and date
first above written, and in the presence
of the witnesses hereinaboye named who
signed this charter with said appearers
aud me- said Notary. after due reading
Tone word erased ant; IL interlined. and
read and approved before signing,
Originally signed)
ROBERT s. BARNETT one share.
GEORGE NJ. LESTER, fifty mine shares.
HoRAIIo A. BROWN, fifty shares.
<tnesses:
Chas. E. Bell,
Emmett Alpha.
CHARLES A. O'NIELL, Notary Public.
State of Louisiana. Parish of st. Mary.
I, Wilbur H. Kramer Clerk of the 23d