New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1903-09-26

y
consisting of the President. Vice-Prcs-
ident, Secretary and Treasurer and
two stockholders. Three (3l 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 II. Patout,
President; J. B. Brown. Vice resi
dent; Willie Patout, Secretary Treas
urer. Silvio 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.
nually. 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 COZ
days Immediately preceding such cleo
ton and the President shall act and
preside at such elections Any failure
from any cause whatsoever to elect
the Directors Mt such meeting, shall
not dissolve the corporation, but the
Directors then in Office as we'll as 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 600 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 teach 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 vacanies i'll their
number caused by death. RES gnation or
otherwise, from among the stock hold
ers of the corporation.
The said Board shall have full con-
troll of the property OF the corporation
and shall SO 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 by laws, rules
and regulations rs the affairs and bus
Mess of the corporation may require
and as it may deem necessary for the
and management thereof F;
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 al assistant Secretary and such
other officers, agents, employees. SER
wants and clerks, as it may deem nee
essary 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 Board S |
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
fled or amended, the capital stock in
creased or deceased, or this corporation
may be dissolved at meeting of the
convened for that pur-
pose, with the aesent of Three-Fourths
"a of tho entire capital stock, sub
scribed, whether represented or pres
emit at 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
of it's charter or from any
cause. the liquidation Of its affairs
shall be conducted by Three (3) COM
selected from the stock
holders. with like assent and at meet
ing called for that purpose, as set forth
above.
Said commissioners shall remain in
office 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 stakeholder of this corporation
shall ever be held liable or RESPONSE
BILE for the contracts or faults thereof
in airy further sum than the unpaid
balance due the corporation on the
shares Of stock subscribed for or owned
by him, nor shall any informaiity in
have the effect of render
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