The Houma courier. (Houma, La.) 1878-1939, 1905-07-01

for labor done or services performed tor
the said corporation or property or
rights actually received by said corpora
ton.
This corporation may become going
concern and shall be authorized to COM
mcncc business as soon as Five thousand
dollars IS, 900 of its capital stock shall
| have been subscribed for.
Any stakeholder may assign, sell or
| transfer his stock in this corporation,
provided thirty days prior notice OF a
desire to sell same be given the company
| in writing, and the 'otlrer Stockholders
thereof shall have an option thereon at
it's book vafte orat the price for which
it is proposed to be sold if such price be
less than the book value, for fhe period
of thirty days.
AKrfdEE Y.
All the corporate powers of SAID
! corporation shall be vested tn and ex-
erciscd by Board OF Directors composed
of four stock holders to be elected
anhual1y on the second Tuesday in May
of each year. All such election shall be
held at tie office of the corporation
under such regulations as may be es-
tablishcd by the board Of directors.
| Written notice'ot such election shall be
mailed to each stakeholder ten days
prior to the date Of same at his last
known address At all such elections
and at all corporate meetings, every
stovBs- -l.oaa~..,,.s.if 1.'~'s-e..a~a~~ ------~
for each share OF stock standing Ill his
name on the books OF said col fporation,
to be cast by him i'll person pr by his
written proxy, and the majority of such
votes shall elect. Any vacancy occur
ing among tie directors shall be filed
by the board of directors until the next
regular election; and failure to elect
directors upon the date provided Tor
shall not dissolve the corporation nor
impair its corporate existence and
management, but the directors then IN
office shall remain until their ucr1ssofs
have been daily elected and qualified.
The Board OF directors at it's first
meeting shall elect from its own num-
| ber a President, Nice-Presldent, a
/ Secretary anu treasurer, and one person
may act as secretary and treasurer, or
the Board rlay select SOME good and
solvent bank as depository i'll lieu Of
a treasurer.
The Board may from time to time
name and appoint all such officers and
agents as 1t may deem necessary; and
fix and define the duties Of every officer
and employee, together with their
compensation, and all officers and
employees shall hold their position at
the pleasure OF the Board. The board
may make and establish, as we'll as alter
and amend all such bylaws, rules and
regulations, necessary and proper i'll its
Judgment for the conduct and manage
ment OF this corporation.
The Board of Direct ors shall have full
power and authority to borrow money,
to execute mortgages and to cIeatt
liens; to issue bonds, notes and othe,
obligations, and to secure same by
mortgage, pledge or otherwise; and
generally to do any and all things
necessary for the proper conduct Of the
business Of said corporation.
The Board may issue full paid shares
, of stock for cash or in payment Of labo1
; done and performed, or for property o1
; services actually received by this
, corporation.
ARlCbE vi.
: Whenever this corporation may b,
! dissolved either by limitation or other
:; wise, its affairs shall be liquidated b,
Q three commissioners to be appointed
r from among the stockholders at
!, general meeting of the stakeholder
i convened for that purpose, of which
i meeting due notice as hereinafter provid
e ed for shall be given. Said com
missioners shall remain in office unit
the affairs Of said cooperation shall hay
) been fully liquidated - in case Q
:, fdeath OF one or more of said CON
), missioner, the vacancy shall be file
4 by the survivors.
q ARTICLE VII.
( This act Of Incorporation may b
h changed. molitied, altered or amended
. or said corporation shall b, dissolve
: with the assent OF three fourths of tn
r capital stock represented at geners
meeting III lie stockholders convene