The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1904-05-11
THE CHARTER
OF Incorporation of Busby, Lee &
Company.

Sec. /. Be 1t known that Wv. Busby, j. W.
Lee, and I. l.. McGehee, j. s. Abortion and
tleir associatesand successt ,aFe hereby reated
a body polite and corporated under the name
and style OF BuSby, Lee Il 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 ($i5.000) Fifteen Thousand dollars
and that said corporation may commence bust
ness when one-third or thiity-thlee and one
third per cent is paid In. Said corporation shall
have the right and power to increase or dimin-
ish its capital stock at any time 1t may see tit to
any amount not TO exceed twenty Thousand dol
lars $50, 600 00l.
Sec. 4. mat said corporation may sue and be
sued, plead and be implicated, prosecute and lie
prosecuted to Judgment ana satisfaction in all
courts OF law aud equity, contract and be con-
tracted with, and may at It's pleasure make and
adopt corporate seal and the same change or
break at its pleasure.
Sec. 5. That the purpose for which said cor
poration is created and organized is to run and
operate a general mercantile business in the
town OF Bogue Chitto, said county and state.
That in OPT rating said business the said Cor
porari0n shall have the rig and power 10 rent
aud lease, to own. buy anu sell property of ali
kind, character and description, real, personal,
and mixed, provided It shall at no time own
property in excess OF The sum of two hundred
and Fifty thousaned Ijolars $3.50 100000. That it
may operate, own and use property OF all kind,
character and desc iption Ill It's corporate name.
That said corporatlon..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 or
other property or form OF security. That the
officers OF SAID corporation shall consist Of one
president, one vce-president and a secretary
and treasurer, the latter Office NAV be held py
one and the same person, and a board of diree-
fors consisting OF as many of its members as the
stock holders may see nj
Sec. 6. 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
majority of the stockholders SO to do in a
meeting called for that purpose.
Sec. z. That the stockholders shall meet an
nualy by written notice given by the secretary
five days previous to said meeting and elect all
officers necessary to the proper conduct of said
business. That the board of directors as soon
as organized and legally chartered may meet
for this year.
right and power to do and perform all things
necessarygio the proper conduct and manage
ment OF a general mercantile business.
See. 8. That the powers of the officers of said
corporation shall be fixed BY bylaws adopted
by the stockholders and said board OF directors
shah have the right and power to make any and
and management of the business of said corpo-
ration, not Inconsistent with this charter or by
laws adopted BY the stockholders
Sec. TO- That the capital stock of said cofpo-s
ration shall be divided into shares of one hun
dred dollars (S100.0Ul each and no stakeholder In
said corporation shall be hound or liablefor auy
amount beyond the amount unpaid for of any
stock that he may own. And that each stock
holder shall be entitled TO one vote for each
share Of stock held by i'm
Sec. II. That this corporation Shall enjoy all
the rights, powers and priYiE ges consistent with
It's purposes as conferred by the chapter and
amendments thereto on corporations in the code
of 1892
Sec. u. And no transfer of any stock shall be
valid unless such transfer appear on the books
of the corporation
Sec. Is. That this charter shall take effect and
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