The leader., 1904-05-25
THE CHARTER
OF incorporation Of Busby, Lee 8
Company.

Sec. 1. Be 1t known that V. V. Busby, j. w
| Lee, and I. L. McGehee, j. s. Albritton and
their asscclatesand successorsa are refrigerated
a body polite and corporated under the name
and style Of Busby, Lee & Co. with succession
| for period of fifty years.
| Sec; 2. That the domicile of said Corporation
| shall be In the town of BOgue Chitto, Lincoln
County, State of Mississippi.
Sec. 8. That the Capital stock of said Corpo
ration shall be t$l5. OOOD Fifteen Thousand dollars
| and that said corporation may commence bust
ness when one-third or thitty-three and one
third per cent is paid in. Said corporation shall
i have the right and power to increase or dimin
any amount not to exceed twenty thousand dol
1 lars $50, 100000.
/ Sec. 4. That said corporation may sue and be
| sued, plead and be implicated, prosecute and Et
prosecuted to Judgment and satisfaction in all
courts of law aud equity, contract and be con
tracted with. and may at its pleasure make and
adopt corporate seal and the same change Oh
break at It's pleasure.
Sec. 5. That the purpose for which said cor
poration Is created and organized is to run and
operate 2 general mercantile business in the
1 town of Bogue ChittO, said county and State
That in ope rating said business the said Cor
pOratiOn shall have the rigLt and power to rent
and lease, to own. buy and sell property of al
and mixed, provided it Shall at no time own
property in excess of The sum of two hundred
and Fifty thousaned Dollars t$25o 00O.O O) That il
may operate, own and use property of all kind
character and description In it's corporate name.
That said corporation shall have the right to
borrow and loan money and to secure payment
| OF same and to take security for payment OF
same by a mortgage, deeds Of trust, bond OIL
other property or form of security. That the
officers OF said corporation shall consist of one
and treasurer, the latter Office may be held by
one and the same person, and board of direc-
tors consisting of as many of its members as the
stockholders may see fit.
Sec g. That said corporation shall not at any
time give security for any money In excess Of
the capital stock paid in until first authorized by
a majority Of the stockholders SO to do in a
meeting allied for that purpose.
Sec. Z. That the stockholders shall meet an.
nually by written notice given by the secretary
i've days previous to said meeting and elect all
business That the board Of directors as soon
as organized and legally chartered may meet
and elect manager and the necessary officers
for this year.
Sec. s. That said corporation shall have III g
right and power to do and perform all things
necessary 10 the proper conduct and manage
ment OF a general mercantile business
Sec. 8. That the powers of the officers of said
corporation shall be fixed b. bylaws adopted
by the stockholders and said boz ri Of directors
shall have the right and poae" t. make any and
all needful rules and regulations for the control
and management of the business OF said corpo-
ration, not Inconsistent with this charter or by
laws adopted by the stockholders.
Sec. IU. That the capital stock of said c0rpO-
ration shall be divided into shares of one hun
dred dollars $4,000 each and no stakeholder in
said corporation shall be bound or liable for any
dnlOuns sSyonu the amount unpaid for of any
stock that lie may own. And that each stock
holder shah be entitled to one vote for each
share of stock held by him.
Sec II. That this corporation shall enjoy all
the rights. powers and privileges consistent with
It's purposes as conferred by the chapter and
amendments thereto on corporations In the code
Of 1892.
Sec Y. And no transfer of any stock shall be
valid unless such transfer appear on the books
Of the corporation.
Sec. 10. That this charter shall take effect and
be Ia force from and alter its approval and re-
correlation as provided for and required by law.