The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-08-18

! hlsl HonuaN IN August OF the year 1907
and shall hold their respective office
untll their successors are elected ant
! qualified. All such elections shall be h,
ballot. and each stockholder shall be en-
| titled to one vote for each share of stucb
standing in his name on the books ot
the corporations: which vote shall be
cast~ln person or by proxy and ii shat
require majority Of the stock presen,
or represented to elect.
No person shall be member of the
Board OF Directors of this company who
Is not stockholder in said company
The Board Of Directors. while pres
entity established at three, shall, upon a
| t"o-thlfds t2-3) vote of the stock OF the
| company. be increased 10 five should the
stockholders OF said company be increas-
eu TO that or Il greater number
Should the Directorate be increased t.
tour or 1--WE, it shall require three to
constitute quorum.
ID all matters relating to the manages
ment and general business of said com,
pany that may require an action of the
board OF Directors. majority of the
directors shall control: but sho uldit be
desired to buy or sell real estate. or
mortgage or otherwise hypothecate same
or to pledge or hypothecate the crops
grown by sad company. it shall require
two-thirds (2-3) vote of the stock Of
said company.
ARTICLE vi.
failure to elect Directors or officers
at any given time shall not have the ef-
fect of dissolving the corporation. but
the encumbent directors or officers shall.
in such event, hold office continuously
until their successors shall be elected.
All notices. of ockholders' or dircc-
tors meetings shal. be by written notice
given ten days in advance of the meet
ing except notices to increase the capi
tai stock Or alter or amend the charter or
dissolve the corporation shall
be given for thirty days in writing and in |
public print
ARTICLE VII.
The officers of this corporation shall |
consist of President Vice President |
and Secretary and Treasurer Th,. !
once OF Secretary and Treasurer shall |
be held by one and the same person.
Ontil the election to be feld on the
first Monday in August, 1907, the fol-
lowing named persons shall constitute
the frs, Board of Directors sto-wit:
ALFRED MONROE UNDERWOOD.
ADAM SHORT and ASMDN GAINES
REEVES with A. NJ. UNDERWOOD as
President, A. q. REEVES as Vice. Pres
ident and ADAM SHORT as Secretary
Treasurer,
ARTICLE VIII.
This charter may be amended, mod;
fed or altered, or the corporation dis
solved with the assent of three-fOurths
81 IN amount Of the capital stock pres
ent or represented at general or
special meeting of the stockholders held
and convened for that purpose after thirty
LAYS prior notice in writing and in
print shall have been given unto each !
'tockholder or sent him by mail to his I
asst known postotfice address.
ARTICLE TX.
All transfers of stock of this corpora
ION must be made upon the surrender
II the certificate of stock and by or un- a
Ter the direction of the Secretary of this 5
corporation. Any stOckholder desiringI
Q sell his stock shall first offer the same | t
o the remaining stockholders and shall @
lot be permitted to sell same to anv S
'erson not already stakeholder until O
stockholders and given them r.
least ten days option to purchase "
anne. After which, he is to be permit Ii
ed TO sell to anyone desiring to purchase. a
All stock shall have printed on its Y
ace: Iransferred to persons not orig Il
na'ly charter members Of this company o
My upon conditions named in Article tc
\ OF the charter of the company" re
ARTICLE X. u
No stakeholder Of this corporation NJ
lall ever be held liable for any of tie :.
lGebtedness, contracts or faults thereof 6
any further sum than the unpaid bal
nee due the corporation on the shares | s
Wned bv him, nor shall anv mere in
in the organization have the
fect OF rendering this charter null or
exposing Shareholder to any labl,
J whatever.
ARTICLE XI.
AT the expiration of this charter or the .
Irller dissolution of this corporation.
affairs shall be liquidated bv three p
two of whom shall hold nj
ock In SAID company. and said commits
oners are hereby vested with full power
ID authority to sell any and all assets
"a property, real, personal or mixed. of
is corporation, and to convey full and
mplete title thereto. and to do and per
rm any and all acts essential aud prop in
to a full and complete liquidation Of r,
affairs OF this corporation, and to ~
str.bute the proceeds, if any, as herein tt
divided. In the event Of the death. =
ability or resignation of any one or
ore OF said commissioners, the survivor
survivors shall continue to act and be
'ewise vested with all power and
thority as herein mentioned RI.
So that this charter may serve also the =,
rpose of and as subscription list. the ii