The Opelousas courier., 1905-05-20

LEGATION in a newspaper published in the town
OF OpelOusas for ten Q0) days preceding the
day on which such meeting is to be held. and
by sending Il copy of said notice prepaid by
United States mail to each stakeholder to his
postotlica address as appearing ON the stock
books of the company ten (o days prior to
the day of holding such meeting; provided,
however. that no amendment. alteration,
change or repeal shall he made in any prnvi-
| vision contained Ill this charter which shall. i'll
any manner, affect, change or alter the pay
ment OF the dividends to bs paid tn the holders
of the preferred stock, or To its prior lien on
the assets of the company over tle common
stock, without first obtaining the affirmative
| vote of a majority of the preferred stock issued
and then OUTSTANDING, represented in person or
by written proxy at a stockholders meeting,
duly called aud convened as herelnbefore pro-
| vided.
Sec 2-FrOm time to time, at the option of
the corporation. either The preferred or com
mon stock, or both, may be increased or de-
| creased in accordance with the provisions in
that respect contained in the laws Of the State
OF Louisiana on that subject.
Art. TX. Whenever tins corporation shall
be dissolved by mutual cunst mt, limitation or
otherwise, its affairs shall he liqnldated under
and by the supervision o! IL board of three l3)
commissioners to he appointed for that pur-
| pose at a special meeting Of the stockholders
convened after thirty 800 days prior notice
shall have been given by publication IN one OF
more newspapers published in OpelOusas, La,
and after its affairs shall have been liquidated,
its debts and liabilities paid. the surplus funds
OF the corporation, il any, SHALL be divided
among the preferred and common stockholders
in accordance with the pro visions in that re-
spect contained in Section 5. Article ", of this
charter.
In case of vacancy occurring i'll the hoard of
commissioners by death, resignation or other
wise, before the affairs of tile company have
been llquidated. as above stated, the remain
ing commissioners shall fill such vacancy from
the stockholders Of the company.
Art. K. The capital stock of the company
shall be issued and sold from time to time in
a,aE. a, --A ,r,o, r,,nI an,~r o~1 a~-lt
tions as shall be specified by the board of di-
r~ectors, provided that no stock shall be issued
by this corporation otherwise than for money
or property received by it, or for services rem
dered or labor performed, and it is expressly
provided that the said board of directors are
hereby authorized and empowered to issue
said capital stock in the payment for services
rendered, labor performed or property actuas-
ly purchased by the corporations; the price and
value for such services rendered or labor per-
formed or property purchased shall be fixed by
an agreement between the parties rendering
such services or performing such labor, or the
party from whom such property has been pur-
chased and the said board of directors; and the
price and value so fixed, and the stock issued
IN payment therefor, shall be final. binding
and conclusive.
Sec. 2. No stakeholder, officer or director
shall ever be personally liable or responsible
for any Of the contracts, acts, matters or things
to be done, or for any defaults OF this corpora
ton in any further sum than the unpaid bal
ance due on the shares of, the capital stock
owned by him, excepting his own, individual,
willful misconduct or default.
1t is expressly understood that the stipula.
and things to be performed by the corporation
are solely corporate matters, and that no per-
sonal liability whatever shall attach to or be
incurred, nor shall any mere IN or
technically in organization have the effect of
or shall render this charter null, or of exposing
any OF the said stockholders. officers or direct
ors to any personal liability whatever, beyond
the said amount of the unpaid balance due on
his stock and his own individual, wiliful mis-