The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1905-05-20

lowing persons are hereby nominated al
the first Board of Directors, all of whom
shall hold their Offices until the frs
Tuesday in April, 1906, to-wit: J. Alle1
Barnett, Jacob Clausen. ST., .. D. Der
wick, ST., Edw. Robichaux, Oscar
Boudreaux, VIM. Schwan, N. Alleman
J. A. Landen and Joseph Schwartz
ARTICLE VII.
No stakeholder shall ever be held re.
sponsible for any contracts or faults OF
said corporation in any further sum than
the unpaid portion of the original pur.
| chase price of his stock.
ARTICLE VIII.
The Board of Directors shall lie elected
annually on the first Tuesday in April,
of each year except the first Board of Di-
rectors appointed in this Charter. All
such elections shall be By ballot and con-
Quoted at the Office of the association
under the supervision of three commits
sioners, to be appointed by the Board of
Directors. Notice of such election shall
be given by written notice mailed to each
stakeholder at his postofice address des-
ignated by him in writing not later than
ten 10y days prior to such election.
Every holder of stock shall be entitled
to one vote'for each share of stock stand
ing in his name on the books of the as
ISOLATION, to be cast in person or by
proxy, and majority of the votes cast
shall elect.
Any vacancy occurring among the hi.
rectors by death, resignation or other
wise, shall be filed by election from the
remainder of the term of the Board by
the remaining Directors. A failure to
elect Directors on the date above speci.
fed shall not dissolve this corporation,
but the Directors then in Office shall re-
main in Office until their SUCCESSORS are
elected and qualified, and shall cause an
other election to be held as soon as pos
sible thereafter, after notice shall have
been given as above provided. Five t5)
Directors shall constitute a quorum for
the transaction of any business. The
first Board OF Directors named in this
Charter, Immediately upon the organiza-
ton OF this association, and the Board
of Directors thereafter elected shall
elect from their own number, by ballot,
a President and q Viee-freside,,. Said
Board of Directors may snnoi,t from
time to time Yshh~6ffcers, cashiers.
CERES ;lerssa other employees as they may
deem necessary for the purpose and bust
ness of said corporation, who shall hold
Office ct tho pleasure Of the Board. The
said Board may make and establish, as
well as alter and amend any and all by
laws, rules and regulations necessary and
proper for the conduct and management
of the business and affairs of said COR
poration, All the corporate powers of
this corporation ara hereby vested in said
Board Of Directors, except those special
ly reserved by law and by this Charter
to the stockholders. The Cashier ap-
pointed by the Board shall be the Gus
todian of the seal OF this corporation.
which seal shall be Sugar Barrel and
Cane.
ARTICLEIX
Whenever this corporation NAV be dis
solved either by limitation or from any
other cause, its affairs shall be liquida-
ted by three stockholders to be appoint
ed at general meeting to be convened
BY publication for thirty days in IA news
paper published at the domicile of said
and majority of the stock
holders voting at such election shall be
requisite tQ elect. Said commissioners
shall remain in Office until the affairs of
tho said corporation shall have been
fully liquidated. In case of death Of