The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1905-04-01
CHARTER
N. BELL SON, Limited.
STATE OF LOUISIANA.
PARISH OF ST. MARY.
TOWN Of EP 1NLSJlN

Parish OF St. Mary, Louisiana. who declare
and acknowledged unto me, SAID Notary
| that awaiting themselves of the laws of thi
/ State relative to the organization OF corpo
rations OF limited liability, they have coven
| anted ana DO hereoy covenant and contrsc
and bind and ohligate themselves and al
other such persons as may hereafter become
associates with them herein II org anize fOr,
and constitute a corporation or body polite
! iects and purposes and under the condition
j and stipulationS tolloWing,to wit:
ARTICLE ].
The name and title of this corno-at;o,
shall be the NJ. BELL son, LIMITED. an,
under its said corporate name it shall hav,
the power and authority to exist and have
succession for Il period uf Ninety Nine t.a
years from the date of this act of incorDo
ration; and under its said name it shall ..lv,
the power to contract. to sue and be sucl
same to alter or break at its pleasure; to hold
sell, purchase, lease and convey, under its
corporate name, property. either real OF
personal, corporeal or incorporeal, to cleo:
and appoint such officers, directors. agents
book keepers, clerks. and other representa-.
tives and employees rs the said corporation
may require, to fix the salaries thereof and
to make and establish suc!, hv- laws rule.
and regulations as may he deemed expedien,
for the proper contiuct and management of
the affairs of sad corporal ion ana the same
to change, alter or annual at pleasure
ARTICLE II.
The comicile of this corporation shall b..
in the Town of Franklin. Parish Of st Mary.
State of Lou siana. and ali citation or other
legal processes shall be served upOn the
Pre- sident, or in his absence, the Vice. Pres
dent or. i'll the absence CT both, upon the
Secretary of this corporation
ARTICLE III.
The objects and purposes for which. this
corporation IS organized ana the nature of
the business to be carried on by it are hereby
declared to he to purchase and acquire the
stock in trade. good VIII, and mercantile
business of Matthew Bell, ami to carry on
and conduct general merchandising bust
ness in the Town of Franklin or eisew re
with power to buy, sell and exchange all
classes of goods, wares and merchandise.
liquors, etc. and in fact, to do "A general m er-
chandising business, and to. if desired oper-
ate in connection Herewith 4 wholesale and
JObberS business in such line or lines as it
may desire to handle, aud t. open such
Drinch store or stores As il may desire, and
in the interest of said business to make such
advances as are required, and to carry out
the purposes hereof; it shall have power to
receive security by way of mortgage and
pledge, etc, and TO borrow money and issue
notes and secure the same by mortgage
pledge or otherwise.
ARTICLE ".
The authorized capital stock of this corpo-
ration is hereby fixed at Fifty Thousand Dol
lars l$50,00000l divided into Five Hundred
1901 shares of One Hundred Dollars $4,000
each. All stock issued to be paid for in cash
or its equivalent in property or labor done
when said stock is issued.
This corporation shall be authorized to
begin business as soon as a majority OF the
shares of stock shall have been subscribed
for and issued.
ARTICLE V.
All the corporate powers of TINS corpora
ton shall be vested in and exercised by a
Board of Directors composed of three stock.
holders, to OF " lom shall constitute quorum
IN 70 E.Nr t,.r.i.
Board shall he elected on the first Tuesday
IN March, 1905, and in each succeeding year
IN the same day and month; Of which said
election fifteen DAYS notice shall be given
prior thereto by written notices sent by mail
20 each OF the ockhoiderS at least fifteen
lays prior to said election Each stock
holder shall be entitled to as many votes as
ne snail have shares of stock, which may be
EAST in person or by proxy, and 4 majority of
III votes cast shall elect. And in case Of any
ne vote IN said election or in an y other busines
natter or controversy arising at any meet
ng or meetings of the stockholders or of the
3oard. the tie vote shall be cast by the Pres-
lent. A failure to elect Directors or the
!ate above specified shall not have the effect
u d1ssOlvlnS this corporation, but the incum
'ent Directors or officers SHALL in such event. |
lold Office until their successors shall be |
elected and qualified under a meeting held |
liter notice duly given as above prescribe }
)lrectors snail be filled from the stock |
FOLDERS by the remaining Board of Directors.
ARTICLE vi.
The officers of this corporation Shall con-
ISL OF a President, Vice-President. and Sec |
etary and Treasurer. The offices of Vice
nd Treasury may be held by one and the I
anne person, as decided upon by the Board |
I Directors. The said officers shall be cleo
ed by the Board of Directors at the same |
ime at which the Board of Directors is cleo. i
ed, and the officers thus elected shall have !
oWer to employ such clerks, book !
eepers' agents and employees as are ne
nd to nix the salaries of same.
ARTICLE VII.
The following named persons shall consti.
ute the first Board of Directors:
Matthew Bell, Johh ID. Bell and Joseph
oudreaux, with NJ. Bell as President, John
}. Bel as Vice.President and Treasurer and
OSeph Boudreaux as Secretary; and they
hall hold office until their successors are
lected and qualified.
ARTICLE VIII.
All transfers of stock of this corporation |
lust be made upon the surrender OF the
ertiticate Of stock and by or under the d.
sction of the Secretary Of this corporation.
ny stakeholder desiring to sell his stock
'ust first offer the same to the President OF
aid company, wis shall have the option
purchasing the same for the company or
n himself at par. value plus ten per cent.
er annum, to be calculated from the date of
le preceding inventory; This advance of
~ pr CcHl. ~ re accepted dis the earnings
said stock since said inventory, and to
void taking an inventory.
The President shall have ten ds VS. option
which to purchase on this basis and luon
IS failure to do so, then the party holding |
I'D stock for sale will have the right 70 sell ,
Re same to anyone desiring to purchase |
e same.
All stock shall have printed on its face:
transferred to persons not originally |
arter members of said company oniv
ION conditions named in ARrICLEVI1I Of |
is charter
No stakeholder shall ever he held liable or
sponsible for the obligations, contracts or
DTS or this corporation in any further sum
an the unpaid balance due on the sub.
riptom on the shares of stock held by him,
II snail any infOrmality in organization |
We the effect of rendering this charter null
ARTICLE TX.
MS cnarter may be amended, altered or
)d1ned, or the corporation dissolved, by
e vote Of two thirds 90 of Its capital
'ck, represented at q Ineeti e called for
1t purpose, of which meeting thirty days
or notice shah be given By publication, 5
q written or printed notice in the manner | =
ntiOned for other meetings
- ARTICLE Y.
neneVer this corporation shall be dis. q
wed by Limitation of its charter or other- , \
sc. its affairs shall be liquidated bv three
nmissioners, to be elected at the meeting 2
ied for that purpose, and after the service Il
l. publication of the notice required in =
TICLE IN of this charter. Such commits. :
ners snail remain in office until the
AIRS are entirely liquidated. and in case
1eath OF a commissioner the place thereof b
III be filled by an election by the stock a
oerS, IN the manner aforesaid; but the ::
ctlOn snail not last, nor a commissioner Ii
nam III Office for longer period than one
year.