New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1903-07-18
mailed to each stakeholder At his usual

mailed to each stockkholdsr ct his usual
place Of residence.
Every stakeholder shall be entitled to
one vote for each share of stock standing
in his name on the books of the Company,
to be cast either in person or by proxy,
aud . majority Of the votes cast shall
elect.
Any vacancy occurring among the dIeci-
ors by death, resignation or otherwise, shall
be filed by election for the remainder OF the
term of the board by the remaining direc-
tors.
A failure to elect board on the
date above specified shall not dis
solve the corporation, but the directors
then in Office shall remain in Office until
their successors are elected and qualified,
aud shall cause another election to be
held as soon as possible thereafter, after
notice shall have been given as above pro-
vided.
Each director shall be entitled to vote
at meeting of the board either in per-
sou or by proxy, and majority OF the
Board Of Directors present, either in per-
son or by proxy, shall constitute quorum
for the transaction of business.
The first board OF directors named in
this charter, and such boards as may be
thereafter elected in accordance herewith,
shall elect from their own number Presi-
dent and Vice-President; and they shall
also elect Secretary, Treasurer and Gem
eral Manager, who may or may not be
members Of the Board or Stockholders
The board Of directors shall have the
power to elect the same person to fill any
two or more of the Offices above provided.
The said board may make and establish,
as we'll as alter and amend, any and all
bylaws, rules and regulations necessary
and proper for the support and manage
ment OF the business and affairs OF said
corporations; and the said board shall have
full power and authority to borrow money,
execute mortgages aud create liens, issue
notes, bonds or other obligations, and
generally to do all things reasonable or
necessary for the proper carrying on Of
the business Of the said corporation, and
also, as above provided, to issue and deliver
full paid shares Of stock for cash or in pay
ment OF labor done or services rendered or
property actually received, upon such
terms and conditions as it may see fit.
ARTICLE vi.
At the expiration of this charter, or in
the event of the prior dissolution OF the
corporation, it shall be liquidated by two
commissioners to be elected by the Board
Of Directors from among the stockholders,
and thu said commissioners are hereby
vested with full power to sell all the assets
and property, both real and personal OF
the corporation, and to convey full and
complete title thereto, and to do oil acts
essential or proper to . full and complete
liquidation Of its affairs and . distribution
Of the proceeds, il any, among the stock
holders. ARTICLE VII.
No trspsfeseM stock shall be admitted
Ia hsId Is 64gaD1 NJ tlBding - fer -
tShe eempauy u conoefe unless made On
the books 81 the esmpM1y. Ard 40 snch
sale or transfer shall be valid in any event
unless and until sixty days notice shall
be given to the president of the company,
whose duty it shall be to notify all stock
holders, who within the said period OF
sixty days shall have the privilege, 10
proportion Of their respective holdings OF
stock, to buy the stock proposed to be
sold at the price bona fide bid for the
Same. or at the current market price, pro-
vided that the above limitation. upon the
right Of alienation shall not apply to sale
or transfer from one stockholder to another
stakeholder; and provided further that the
| said Limitation shall not apply to trans
fer BY will or by Inheritance except to ons
not 1 member Of the family of the de-
ceased stoskholdsr, but shall apply in
ARTICLE VIII.
This cot Of incorporation may be modi-
fed, changed or altered, or the said cor.
poration may be dissolved with the assent
Of three. fourths Of the capital stock repre-.
sented at general meeting Of the stock.
holders convened for such purpose, after
written notice to each stockholder mailed
to him ct his usual place Of residences
It least thirty days prior to the date Of the
meeting. -
ARTICLE IX.s
No stockheldsr shall ever be held liable
for the contracts or faults Of the said eor'
poration In any further sum than the un
paid balance due the corporation on the
shares Of stock owned BY him, nor shall any
mere informalify In organization have
Sha effect Of rendering this charter null