St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1904-04-02
Louisiana.
Article ".

Article ".
The copital stock of this corporation
is hereby fixed atone hundred thousand
dollars, divided into or represented by
ten thousand shares of ten dollars
each Said stock shall be paid for IN
cash at not less than par, or the same
may be issued III not less than par in
payment of property actually received
Or purchased BY the corporation, or in
payment for labor done and services
performed, accordingly as the Board of
Director, may determine. Said corpo-
ration shall be authorized to begiG bust-
ness and be going concern when two
thousand shares of its stock shall have
been subscribed for. No transfer of
stock shall be binding upon''or have any
effect upon the corporation unless and
until made on its books.
The Board of Directors shall have the
power at any regular or special meeting
to order the issue and sale of additional
stock from time to time. up to the
authorized capital stock of the corpora
ton. as In the judgment of the Board
of Directors the business and nece ssh
ties of the corporation may require. q
Article v.
All the corporate powers and autbori
ty of this corporation shall be vested in
and be exercised by Board of Direct
ors. to be composed of three stock
holders, a majority of whom shall con-
stitute a quorum for the transaction of
business. Said Board shall he elected
annually by the stockholders on the
second Monday in May Of each year,
beginning in the year nineteen hundred
and five. All elections shall be by bal
lot at the Office of said corporation, I'M
der the superintendent Of two CON-
missi0ners to be appointed for that
purpose bv the Board of Directors, and
ten davs' prior notice of each election
shall be given by publication, published
in the Parish of ST. Tammany, State OF
Louisiana. Each share of stock shall
be entitled to one vote, to be cast nv it's
owner, either in person or by written
proxy. and a majority OF the votes cast
shall elect. A failure to elect at such
times Board of Directors or any lLem-
Der thereof, or any Of the corporate
officers as herein provided for, shall not
operate to dissolve this corporation.
but the incumbent directors and Off GERS
shall continue in the exercises of their
duties until the successors shall have
been elected and shall have taken their
places. for which purpose an election
shall be held thereafter as soon as pos
sible.
Vacancies occurring in said Board of
Directors shall be filed by the remain
ing Directors. At the tlrsr meeting fol-
lowing each election said Board OF Di-
rectors shall elect OF their number a
President, Vice President and Sec.
retary-Treasurer. The Office of Secre-
tary and Treasurer may be fill d by one
and the same person.
The Board of Directors may make
and establish, alter, amend and abolish
all bylaws rules and regulations "a 1t
may deem necessary and proper for the
management of the AFFAIRS of the corpo-
ration. not Inconsistent with this char
Ter and in pursuance ct laws it shall
lave power to contract debts. morrow
money, issue notes aud bonds and other
obligations; execute MORTGAGES, ALLEVIATE
and lease property, real, personal and
mixed; to appoint such clerks, agents,
SunuoSCAS "uu SAuplOySCS 40 may w ~
quired, and generally to do all things
incident to the objects and purposes of
the said corporation. and moreover,
said Board of Directors shall have
power aud authority to Issue and de-
liver full paid shares Of stock. or bonds
or other obligations Of said corporation
In payment for property bought. labor
or services done and performed. or
money borrowed.
Article vi.
Whenever this corporation is dis
solved, either by limitation. or for any
other cause, its affairs shall be liqui-
lated under the supervision of three
to be appointed for that
purpose by the stockholders at geDer
Il meeting convened for that purpose
lfter thirty DAYS public notice thereof
hall have been given in one of the
newspapers published in the Parish of
st Tammany. State of Louisiana; said |
commissioners shall remain in office
Until the affairs Of sal corporation
hall have been fully liquidated and
ettled<and In case of the death Of one
n more of said commissioners. the
urvivor or survivors shall continue to
ct until successor shall be elected by
he stock holders at special meeting
allied for that purpose, after ten days
advertisement in a newspaper published
n the Part b of st. Tammany, State OF
louisiana.
Article VII.