Live Oak daily Democrat. (Live Oak, Fla.) 190?-190?, 1907-11-29


Section 3. Property, labor or SER
vices may be purchased by this cor
poration and paid for with capital
stock Thereof, at a just par value of
such property, labor or services. to
be fixed by the Board of Directors
at meeting to be called for that
purpose.
Section4. Not less than ten per
centum of the capital stock of this
corporation shall be paid in upon the
organization. of this corporation, and
the remainder shall be paid by the
subscribers at such time and in such
manner as may be determined by the
Board of Directors.
Article IN.--Term of Corporate En-
istence.
The term for which this corpora
ton shall exist shall be one hundred
years, unless sooner dissolved ac-
cOrding to law
Article N.-Limit of Indebtedness.
The highest amount of indebted
ness to which this corporation can at
any time subject itself chalI be four
| thousand dollars.
Article NI.-OnicerS and Directors.
Section l. The business affairs of
| this corporation shall be conducted
! by President, a Vice-Presiednt, a
| Secretary, a Treasurer, and by 4
| Board OF three or more directors, and
/ by such other officers and agents as
may be provided for by the bylaws.
Section >. The directors shall be
/ elected by the stockholders at their
! annual meeting in each year, or as
soon thereafter as practicable: and
the Board of Directors, as soon after
their election as practicable, shall
elect from among their number A
| President, ViVe President, Treasurer
| and Secretary. The officers so elect
ed shall hold their respective Offices
until the next annual meeting of the
stockholders, and until their sue
csesOrs are duly elected and qualified.
Section 3. The stock holders of
this corporation may, at any time. by
a majority vote of all stock issued,
remove any officer, agent, or empIoye
and shall provide in their bylaws for
the filling of all vacancies.
Section 4. Until the first annual
meeting of the stockholders, the fol-
lowing named incorporators shall
compose the officers of this corpora
ton: NJ. J. Sweat. President; s. S
Hatch, Vice President; r. Z. Lang
ston, Secretary; j. Q. A. Hatcher,
Treasurer; Board of Directors: NJ. J.
Sweat, S. s. Hatch, r. E. Langston,
J. O. A. Hatcher, r. w. Atwell.
Article HII.-Date of Annual Meet
ing.
The first meeting of the stock
holders of this corporation shall be
held at the Office of the corporation
in BranfOrd. Florida, on the first
| TUESDAY in February A D. 1903
and the annual meeting shall be held
on said day in each and every year,
or as soon thereafter as practicable
Article NiII.-COTpOrate Seal.
This corporation shall have cor
porate seal. which shall consist Of a
circular disk, with the words: Bran
ford Farmers Union Warehouse and
Ginning Company, Incorporated
around the edge of said disk, and the
figures 1891" in the center thereof
Article IN.-Namcs and Amounts
Subscribed
The names and places OF residenc,
of the inCOrporatorS. who have here
to subscribed their names anC
tie amount OF stock subscribed By
each. are rs follows:
NJ J. Sweat. Suwauuee County
Florida. eight shares.
:. ; Hatch. Lafayette County
Flor la. eight shares.
r. r. Iau-stou. Lafayette County
Florida. eight shares
j. q. \. Hatcher. SuWaUucc Coul
~. Florida. eight shares
Il. ". AJweIL Lafayette County
Florida. ci-bt shares.
NJ. j. SWEAT
Il