St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1903-10-24

State of Louisiana, and particularly by
the provisions of Act No $50 of the
Acts of 1888, approved July u. 1888;
Act No. 95, of the Acts of 1899, ap-
proved July Z, 1892, and Act No. Is Of
the Acts of 1902. approved June 81, 1902.
ARTICLE Ill.
The amount of the Capital Stock of
this Company is hereby established at
One Hundred Thousand Dollars (elOO.
OOO) divided into one thousand $4,000
shares of one hundred dollars each.
ARTICLE v.
Its affairs shall be managed by a
Board of Directors of twenty-five per-
sons, seven of which shall constitute a
quorum to do business. the first Board
of Directors under this amended char
ter to be elected when these amend
meuts 60 into effect, which will be on
Monday. November 2, 1903; that said
Board shall serve until the second
Tuesday In January, 1905, on which
date, and on the same date each year
thereafter, there shall he elected q
Board of Directors annually. The cleo
lions shall he bv ballot and conducted
by three commissioners appointed by
the Board of Directors. Notice of such
election shall be given by publications,
not less than ten DAYS prior to such
election in one of the Newspapers pub
lished In the town of Covington. Every
holder of stock shall be entitled to one
vote for each share of stock standing
in his name on the books of the Assoc.
citation, to be cast in person or by
proxy, and the majority Of the votes cast
shall elect.
Any vacancy on the Board Of Direc-
tors, shall be filed by the remaining
Directors. A failure to elect Directors
on the date above specified shall not
dissolve the Corpor alton, but the Di-
rectors then in Office shall remain In
Office until their successors are elected
and quilted, and shall cause another
election to be held as soon as possible
thereafter, after notice has been pub.
lished as above provided. The first
Board OF Directors elected under this
Amended Charter, and the Boards there.
after elected, shall elect from their own
number by ballot, President and 20
many Vice Presidents Is the Bylaws
shall direct. Said Boord Of Directors
may appoint from time to time, such
officers, agents or clerks and other en-
ployees as they deem necessary for the
purpose and business Of said corpora
ton, who shall hold Office at the pleas
ure Of the Board Of Directors. The said
Board OF Directors may make and a.
tablish, as we'll as alter and amend, any
and all bylaws. rules and regulations,
necessary and proper for the conduct
and management of the business apd
affairs OF said Corporation. All the
powers of this Corporation are hereby
vested In the Board Of Directors. ex-
cept those specially reserved by law and
by this Charter to the Stockholders,
The Cashier appointed by the Board Of
Directors shall be custodian Of the seal
on which shall be engraved ''COVINq:
TON BANK AND TRUST COMPANY,
Corporate Seal, Covington. La"
ARTICLE TX.
This act OF incorporation may be
modified, changed or altered, or said
Association may be dissolved with the
assent of two-thirds Of the amount Of tho
Capital Stock represented at general
meeting Of the Stockholders convened
for that purpose, and sitter notice sball
have been given in one of the n,ws,
papers published in the Town Of Gov.
ineton, for thirty days preceding the
meeting, and by written notice to eaoh
mailed to him at his post
Office address designated by him In
writing. .3
The capital stock of this Corporation
may be increased or diminished In ac-
A. A. A. - IL
Louisiana on the subject Of altering tho
Capital Stock Of Corporations.