St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1907-04-13
CHI a RTRR
OF THE
POnChataIaWa Land And I'm
prOVement Company, Ltd.
United States of America, State of
Louisiana, Parish of Orleans,
City Of New Orleans.
CHARTER

|
he month of March, in the year of our Lord,
0ne thousand, nine hundred and seven, and of
he independence of the United States OF
America, the one hundred and thrty-trst,
before me, John Marshal Quintero, notary
public, duly commissioned and qualified, in and
for the Parish of Orleans, State of Louisiana
aforesaid, and in the presence of the witnesses
hereinafter named and undersigned, personally
came and appeared the several persons whose
names are hereunto subscribed, who severally
declared that avalling themselves of the laws
of the State of Louisiana in such cases made
and provided, they have covenanted and
agreed, and do, by these presents, covenantand
agree and bind themselves, as well as all such
persons as may hereafter become associated
with them, to form corporation for the OBJ
jectS and purposes and under the articles and
stipulations following to-wit;
ARTICLE |,
The name of this corporation shall be pom
LAND & IMPROVEMENT COMPANY,
LIMITED" and under its said corporate name
It shall have power and authority to have and
enjoy corporate existence and succession tor
the full term and period of ninety-nine years
from and after the date hereof, to contract,
sue and be sued, to make and use corporate
SEAL and the same to alter and break at pleas |
ure to hold, receive, lease, purchase and con-
Vey, as well as mortgage and hypothecate, |
property, real, personal and mixed, corporal |
and incorporeaI; to name and appoint such |
managers, agents, directors and officers as its |
business interest and convenience may re- |
Quire, and to make and establish, as well as
alter and amend, from time to time, such by
Jaws, rules and regulations for the proper
government of the affairs of said corporation
ds may be necessary and proper,
ARTICLE II.
The domicile of said corporation shall be in
the Town of CoVington, Parish of st. Tamnlany,
State of Louisiana, and all citations or other
legal process shall be served upon the presi-
dent of said corporation or in the event of his
ABSENCE, upon the vice president thereof, and
n the absence of both of said officers upon the
secretary of said corporation.
ARTICLE Ill.
The objects and purposes for which this
corporation is established and the nature of
The business to be carried on by it are hereby
declared to be to purchase, lease and own, to
/ cultivate and improve for its own use, or
| others, lmmovable property of every descrip-
l tion whatsoever in the Parish of St. Tammany,
| State Of Louisiana, or elsewhere in the United
4 States, and generally to hold and exercise all
| such Incidental powers and privileges as relate
/ to the objects herenabove set forth; as an ad-
Junct to said purposes, to construct, own and
| operate, steamboats,, steam and electric rail-
| roads, warehouses and depots as may be neces-
sary to do in the development and improve
| ment OF the land now owned, or hereafter to
| be owned, by this corporation, To build
bridges for toll, and to bore for oil, gas and
water and other minerals as the company may
| think proper, and to do all things incident
| thereto.
| ARTICLE ~. ~
l
by fixed at the sum of three hundred thousand
dollars lS3OO,0OO.00,l divided into and repre-
sented by three thousand (3 900 shares of stock
of the par value of one hundred dollars (S10O)
each. Sale stock shall be paid for in cash, al
such time, in such amounts and after such no.
tice to the subscribers, as may be fixed by the
Board Of Directors, or the same may be issued
at not less than par for labor done, or property
actually received by the corporation.
The corporation shall become a going con-
Germ and be authorized to do business as soor
as ten thousand dollars tS10,00O00) of its CAPT
tai stock shall have been subscribed for.
ARTICLE v.
All the corporate powers of said corporation
shall be vested in and exercised by Board Of
Directors to be composed of not less than five
81 nor more than twelve t12j stockholders
to be elected annually on the second Monday
in January in each year, except the first Boarc
appointed in this charter, who shall hold thei
offices until the second Monday in january
1908, and four IA directors shall constitute
quorum for the transaction of business,
All such elections shall be held by ballot an(
conducted at the Office of said corporation, un
der the supervision of three t3l commissioner
to be appointed by the Board of Directors, ant
) the Board shall be empowered to decrease o
2 increase its number at pleasure.
Notice of such election shall be given by thu
. secretary of the company, by publication TO
not less than ten 10 days prior thereto in
= newspaper published in the City of New Or
leans.
At all such elections and at all corporate
meetings, every stockholder shall be entitled
to one vote for each share of stock standing il
his name on the books of the company, to b
cast in person or by his written proxy, pro
= vided any and all proxies so given shall desig
nate how said proxy or proxies shall be voted
and the majority of the votes cast shall elect.
Any vacancy occurring among the Director
: by death, resignation or otherwise, shall b
filled by election fol the remainder of the tern
by the remaining Directors.
failure to elect Directors on the date aboV
specified shall not dissolve the corporation
! nor impair its corporate management, but tn
directors then in office shall remain in otfic
until their successors are elected and qualified
l The Board of Directors shall elect from thei
= own number, President and Vice President
= They shall also elect Secretary and Treasurer
: | or one person who shall be both, either G
whom NAV or may not be members of tn
Y Board. They may, from time to time, nam
: and appoint all such other officers and agents
2 it may deem necessary for the purpose an
l Lbusness of the co rporation. They shall hav
power to fix and define the duties of ever
officer and employee, and all officers and EN-
pIoyeeS shall hold office and employment at tn
pleasure of the Board. The Board may max
and establish, as well as alter and amend, an
and all bylaws, rules and regulations necessar
and proper in its judgment for the conduc
> support and management of the business an
affairs of said corporation.
The Board Shall have full power and authorit
to borrow money, to execute mortgages and
create liens; to issue bonds, notes and othe
obligations, and generally to do all thinf
proper carrying on of the business OF the CO.
poratiOn.
No stakeholder owning less than ten H.
q shares of stock shall be eligible as Director.
ARTICLE vi.
Whenever this corporation may be dissolve
either by limitation or from any other cauS
its affairs shall be liquidated by three 3l con
miSSionerS to be appointed from amongst Il
stockholders at general meeting of the Stoc
holders convened for such purpose, of whit
meeting notice shall be given In the mann
and time provided for stockholders meetin
by Article VII of this charter, and majority
the amount of the capital stock OF SAID cor
pany represented at such meeting shall be
uusite to elect. Said commissioners shall r
main in office until the affairs of said corpor
ton shall have been fully lquidated. In ca
of death of one or more of said commissions
4 the vacancy shall be filled by election by t
II surviving commissioners,
n Hsat;, ARTICLE; Wilt,
4 This act of incorporation may be modfie
changed altered, or said corporation may
l dissolved with the assent of three-fourthS
| the capital stock represented at general NEE
ing of the stockholders convened for Su
purpose, and after notice shall have been Civ
in one or more newspapers published in t
! Town of Covngton, State of Louisiana, once
4 week for four weeks preceding the meeti
| and by written notice to each StockhOld
4 mailed to him thirty days prior to the date
meeting, at the postottice address desiGnat
| by him in writing.
Any changes proposed or made in referen
u to the capital stock shall be made in accordan
el with the laws of the State of Louisiana, on
subject of altering the capital stock OF corpol
n tons,
NJ ARTICLE VIII.
u No stockholder shall ever be held liable I
the contracts or faults of said corporation
a any further sum than the unpaid balance d
the corporation on the shares of stock own
a by him, nor shall any mere informally
Il organization have the effect of rendering Il
charter null or of exposing a stakeholder
any liability beyond the unpaid amount |
manning due on his stock.