New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1906-06-30

CORPORATION shall be THE PEOPLES
DRUG COMPANY, LIMITED, ant
under said name it shall have and en-
ioy corporate existence for period o.
Ninety Nine Years from and after the
day and date of this act. 1t shall
have the power to contract, to sue anc
be sued, to make and use q corporate
seal and the same to break and alter
at pleasure; TO have, hold, and re-
ceive, purchaes, sell, convey, lease
pledge, bond ,hypohthecate, and mort
gage property of any kind whether
: real, personal, or mixed, corporal or
inoorporeal in or ont of the State OF
Louisiana; to have and appoint such
managers, directors, officers, and
agents as its business may require
and to make and establish as we'll as
to alter and ahmed from time to time
such Bylaws, Rules, and Regulations
for the proper management and gov
eminent of the affairs of said corpora
ton as may be necessary and proper
and generally to possess all the powers
hereinafter innumerated and that are
now or may hereafter be conferred by
law or necessary to promote its objects
and interests.
ARTICLE II.
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 in 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
poration are declared to be to estab-
llsh and operate drug stores, to buy
deal in, sell and compound drugs and
medicines and to make and manufac-
ture toilet articles and generally to
carry on the drug BUSINESS 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
loII ;ol, !
stock shall be paid for in cash or in
such installments 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
tion 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 stock holder or his At 8
torney. Stock book shall be closed :
for the transfer of stock ten days be- 6
fore election. No certificate of stock q
shall be issued until the same shall 8
have been paid for in full. Certifi- :
cate of stock issued shall be signed by T
such officers of this corporation as the i
7oard of Directors may designate. u
No transfer of stock shall be made ON :
he books of the corporation if the /
lolder thereof is indebted to the cor q
ooration until such debt shall have
'een liquidated and paid The CAPT.
al stock may be increased or denim
shed as provided by law This cor !
'oration may commence business
When Five Thousand of it's capital
hall have been subscribed and paid
or in full. :,
ARTICLE V. :
All the corporate powers of this 81
shall be vested in and ex- p,
rcised and the business and affairs q,
this corporation shall be managed h.
nd conducted by Board of Directors m
of stockholders each of g,
HON must own at least Four Shares II
majority of whom shall constitute g;
qurom in the transaction of bust h,
ess. Said directors shall be elected q,
the annual meeting of the stock r,
olders OF this corporation to be held Of
the first Tuesday in May of each re
ear or at such times as may be neoes- q,
Iry Or convenient. All such election
lall be by ballot and conducted at the or
lice of the corporation under the n,
pervision of the President or in h,
se OF his absence or inability to act oh
lder the supervision of any other ri,
ficer OF the corporation and of such
ectlon written notice shall be mail ar
to each stock ii:older at his last o.,
'st Office address recorded in the ",
'oks of the corporation. No less r
en- fifteen days previous to the day 90,
such election. Each stock holder OIL
all be entitled to act either in per- mo-
or by written proxy one vote for in,
ch share of stock owned by him wi
lich shall have been standing in
s name on the Books of the corpora
IN for at least ten days prior to the
tie of said election. A majority of
9 votes cast shall election; the
ard of directors of this CORPORA
N at its meeting in each year shall
ct from its members a president
d vice president. The said Board
Directors shall also elect a secre-
y and treasurer as the said Board
y determine, which said person or
sons must also be member or men,
IS of said Board of Directors. The
It Board OF Directors shall consist