The weekly Iberian. (New Iberia, La.) 1894-1946, 1903-04-25

meeting ofits stockholders was con-
vened and held at the Office of said
corporation on the Twentieth day of
January, 1903, for the purpose of al
tering, changing and amending the
Charter or Act of Incorporation of
said Association, of which said meet
ing convened for the said purpose ten
DAYS prior notice thereof was mailed
to each stakeholder and that at said
meeting all of the stockholders pres
ent and represented by proxy did vote
unanimously for the said amendments
proposed to be made to the said Act of
Incorporation.
And the said appearers. declared,
further, that by virtue Of the powers
in them vested as officers of said AS
ISOLATION and in conformity with the
| resolution of the stockholders adopted
at the said meeting and in order to
carry into effect the said amend.
ments adopted at said meeting and to
cause same to be recorded, they do
hereby publicly and formally proclaim
| and make known the following amend
ments to the Act of Incorporation OF
the Iberia Building Association to the
end that same may hereafter and at
| all times be as hereinafter detailed
and set forth and in full force and eff
feet as regards all persons that are in
or who may hereafter become stock
holders Of the said Iberia Building
Association, to wit That Article V
of the Charter OF said corporation shall
be and is amended so as to read az
| follows:
ARTICLE V.
The corporate powers of the ASCOT
alton shall be exercised by seven Di
rectors. each of whom shall own not
less than FIVE serial shares. who shall
be elected by the shareholders on the
Third Tuesday in January, annually
each stock holder represented at sale
election and not in default being en-
titled 10 vote as fol1ows:- For one Sc
rial share up to five exclusive he ma,
cast one vote. From five shares up t.
ten exclusive he may cast two votes
From ten shares up to twenty exclu
sive he may cast three votes. Fo
twenty shares and over be may cas-
four votes.
Notice of said election shall b.
given for the space of ten days by thu
} Secretary through the mail. Sait
election shall be by ballot and shall
! be held at the domlcile of this Cor
poration, under the supervision o
three shareholders appointed by tn
| Board of Directors at the last proceed
! ing regular meeting thereof. Tn
, shareholders receiving majority o
i the votes cast shall be declared elected
: The failure 10 hold an election OF
the day specified shall notsdissolye tn
corporation but the Directors in offic
shall hold over until an election b
3 held, after ten days notice Of the tim
f and place thereof
The Directors shall elect from thei
| number a President and Vice-Presi
dent; and four Directors shall be
' quorum for the transaction Of bus
: ness.
t The Directors shall elect or appoir
a Secretary and such employees
: may be necessary, and may fix thel
d compensation, but no salary shall b
: paid to any member of the Board
n Directors or officers, except to III
e Secretary; and they shall have pow
e to enact Bylaws not repugnat to tn
h Charter to select place Of meeting
n to suspend any officer or Director fl
s. neglect of duty or misconduct. and
( name and appoint their successors, !
D. provided for in the BYLAWS and shs
es have general authority to carry o
o. the objects and business of the Ass
or citation. But they shall not have pc
ia er to purchase real estate, except
al cash, nor contract any iadsbtsda'