New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1903-10-10

The corporate power of this corpor-
alton shall IL invested in and exer-
cised by Board of Five (5)Directors,
consisting of the President, Vice Pres
ident, Secretary and Treasurer and
two stockholders. Three e. members
Of said Board shall constitute quorum
for the transaction of business and
their decisions shall be corporate acts
The following persons shall compose
the first Board of Directors H. Patout,
President; ]. B. Brown, Vice Presi-
dent; Willie Patout, Secretary Treas
urer, Silvlo Broussard and G. A. Poir-
son two shareholders Of this corpora
ton.
Said Board shall continue in Office
until the first Tuesday Of August A.
d. 1904. on which date thereafter au-
nuauy. q Board of Directors shall be
elected. unless the same falls ON hol-
iday, in which event the election shall
be held on the next legal day there
after. Notice of said election shall
be given in writing at least Ten (l0)
days Immediately preceding such cleo
ton and the President shall act and
preside ut such elections. Any failure
from any cause whatsoever to elect
the Directors at such meeting, shall
not dissolve the corporation, but the
Directors then in Office. as we'll Ms the
officers of said corporation, shall hold
over until their successors are elected.
In any such event the President shall
cause another election to be held
within Thirty (s0) days, and shall
give notice thereof As above provided
for.
At every election and meeting each
stakeholder shall be entitled to vote
for each share of stock registered in
his name, and may vote by proxy.
The election Of Directors shall be
by ballot and the majority in amount
Of votes cast leach share Of stock voted
upon to be counted for one vote shall
elect the person for whom they have
been cast.
After each election the Board Of Di-
rcetors shall elect from their own
number the officers of said corporation.
ARTICLE V.
The Board of Directors shall have
full power to fill vacaniee in their
number caused by death, resignation or
otherwise. from among the stockhold-
ers Of the corporation.
The said Board shall have full con-
troll Of the property OF the corporation
and shall 80 conduct, manage and use
the same as in their discretion they
deem fit. and that is consistent with
the objects and purposes Of this cor.
poration. or the welfare Of the same.
The said Board is further authorized
to frame and adopt such bylaws, rules
and regulations Is the affairs and bus
Mess Of the corporation may require
and as it may deem necessary for the
and management thereof;
provided the same shall not conflict
with the charter. or with the laws
of the State or Of the United States.
The said Board shall elect or ap-
point an assistant Secretary and such
other officers, agents, employees, SER
wants and clerks, as it may deem nee
esssry for the carrying on Of the bust
ness Of the corporation; fix their COM
term Of service, with the
right to dismiss them at said Boards
pleasure and said Board shall have the
right to fix and determine the salaries
Of the several offices herein provided
ed for.
ARTICLE vi.
This charter may be changed, modi-
ned or amended, the capital stock In
creased or deceased, or this corporation
may be dissolved 1t . meeting Of the
convened for that pur-
pose, with the assent Of Three Fourths
~ Of the entire capital stock. SUBJ
scribed. whether represented or pres
emit as such meeting. Ten (lO) days
prior notice Of such meeting shall BE-
given. In case Of dissolution or ter
mination Of this corporation, either BY
limitation Of its charter or from any
cause. the liquidation Of ito Affairs
shall b conducted by Three 81 com.
missioners, selected from the stock
holders, with like assent and ut meet
ing called for that purpose. - cot forth
above.
Said commissioner shall remain in
once until the Affairs Of said corpor-
alton shall have been liQuidated. In
case Of the death Of one or more Of
the commissioners, the Survivor or sur
vivors shall continue In Office and
settle the Affairs.
ARTICLE VII.
No stockholder Of this corporation
shall ever be hold liable or responsi-
BILE for the contracts or faults thereof
in any farther sum than the unpaid
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