New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-06-23
shall be THE PEOPLES

| corporation shall be THE PEOPLES
DRUG COMPANY, LIMITED, and
under said name it shall have and en-
| JOY corporate existence for period OF
| Ninety Nine Years from and after the
! day and date of this act 1t shall
| have the power to- contract. to sue and
| he sued, TO make and use corporate
seal and the same to break and alter
at pleasure to have. hold. and re-
ceive, purchaes, sell, convey. lease
pledge. bond .hvpohthecate, and mort
gage property of any kind whether
| real, personal, or mixed, corporal or
! incorporeal i'll or ont of the state OF
louisiana to have and appoint such
managers, directors, officers, and
! agents as it's business may require
and to make and establish as well rs
to alter and ahmed from time to time
such BY laws. Rules. and Regulations
! for the proper management and gov
eminent of the affairs of said corpora
tion as may be necessary and proper
aud generally to possess all the powers
| hereinafter Enumerated and that are
now or may hereafter be conferred by
law or necessary to promote it's objects
and interests.
ARTICLE H.
The domiCile of this corporation
shall be in New Iberia, iberia Parish
Louisiana. where service of citations
and other legal process shall be made
upon the President of said corporation
or III case of his absence, upon the
Vice President or upon the Secretary
of said corporation in the absence of
both of said former officers
ARTICLE Ill.
The object and purposes of this cor
poratiou are declared to be to estab-
llsh and operate drug stores, to buy,
deal in, sell and compound drugs and
medicines aud to make and manufac-
lulf 'Ollfb hiNlNltH kbh'tullN W.
carry on the drug businesses incidental
and pertinent to the above objects and
purposes,
ARTICLE ".
The capital stock of this corpora
ion is hereby declared to be the sum
of Twenty Five Thousand Dollars di-
vided into and represented by One
Thousand Shares of the par value of
Twenty Five Dollars each, which
stock shall be paid for in cash or in
such AILMENTS as the Board of Di-
rectors mry fix, or may be issued in
payment of labor or services rendered
or property transferred to the corpora
ton in the discretion of the Board of
Directors. In case any of said CAPT
tai stock shall be issued for property
received the Board of Directors shall
first appraise said property and
such appraisement shall be final and
binding upon all stock holders. All
shares of stock shall be issued as full
paid and non assessable and no trans
fer of stock shall be binding upon the
unless recorded upon it's
books. All transfer of stock shall be
signed by the stakeholder or his At
torney. Stock book shall be closed
for the transfer of stock ten days be-
fore election No certificate of stock
shall be issued until the same shall
have been paid for in full. Certifi-
cate of stock issued shall be signed by
such officers of this corporation rs the
Board of Directors may designate.
No transfer of stock shall be made ON
the books of the corporation If the
holder Thereon IS Indebted to the cor
poration until such debt shall have
been liquidated and paid, The CAPT
tai stock may he increased or denim
ished as provided by law. This cor
poration may commence business
when Five Thousand of it's capital |
shall have been subscribed and paid |
for in full
ARTICLE V.
All the corporate powers of this
shall be vested i'm and ex-
9reised and the business and affairs
Of this corporation shall be managed
md conducted by Board of Directors
of 7 stockholders each of
whom must own at least Four Shares,
! majority of whom shall constitute
! qurom in the transaction of bust
less. Said directors shall be elected
It the annual meeting of tho stock
FOLDERS of this corporation to be held
N the first Tuesday in May of each
ear or at such times as may be neces-
airy or convenient. All such election
hall be by ballot and conducted ut the
ffice of the corporation under the
upervision of the President or in
ase of his absence or inability to act s
nder the supervision of any other ,
tficer of the corporation and of such
lection written notice shall be mail 9
d to each stock holder at his last 9
'ost Office address recorded in the ,
looks of the corporation. No less
hen fifteen days previous to the day c
such election. Each stock holder s
hall be entitled to act either in per- I
On or by written proxy one vote for j
ach share of stock owned by him,
'hi0h shall have been standing in
is name on the Books of the corpora
on for at least ten days prior to the
ate of said election. A majority of
40 votes cast shall election; the
GARD of directors of this corpora