The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1907-06-13
CHARTER OF

CHARTER OF
Sapp & Bridges Co., Limited,
of Koran, Loulsi6n8.
DE 1T KNOWN, that this day, before
and for the Parish Of Bossier and State
of Louisiana, duly commissioned and
qualified, came, in the presence Of the
witnesses hereinafter undersigned, the
several persons whose names are here
unto subscribed, who declare that, avail
ing themselves of the provisions of Act
No. IS of the General Assembly of the
State of Louisiana, approved June g,
1888, and Act No. 78 of 1904, as we'll as
those of the general laws of the State of
Louisiana, relative to the organization
of corporations, they have formed and
do by these presents form and organize
themselves into corporation for the
object and purposes and under the stip-
ulations hereinafter set forth, which
they do hereby accept as their Charter,
to-Wit:
ARTICLE I.
The name and title of this corporation
shall be the Sapp & Bridges Company,
Limited, of Koran, La. By that name
it shall have power and authority to have
and enjoy succession for the term of
twenty-five (25) years from and after
the date hereof; to contract, sue and be
sued; to make and use corporate seal
and the same to change at pleasure; to
hold, receive, lease and purchase, alien
ate and convey, as well as mortgage and
hypothecate property, real and personal
and mixed; to name and appoint such
managers, directors, officers and agents
as the interest of such corporation may
require, and to make and establish such
bylaws, rules and regulations for the
proper management of the affairs of said
corporation as may be necessary and
proper, and the same to alter at pleasure.
ARTICLE II.
The domicile of this corporation shall
be at Koran, Bossier Parish, State of
Louisiana, and all citations and legal
processes shall be served on the Presi-
dent of the corporation, or in his alb
sence, at the Office of the corporation,
according to Article 1893, Code Of Prac-
tice Of Louisiana.
ARTICLE III.
The purposes for which this corpora
ton is organized and the nature of the
business to be carried on by it are de-
clared to be general mercantile bust
ness, and all business incident thereto.
ARTICLE Nv.
The capital stock of this corporation
is hereby fixed at the sum Of Five
Thousand Dollars (s5 ,OOO) to be divided
into fifty shares of One Hundred Dollars
(S1U) per share, and the corporation
may begin business when the full amount
of the capital stock, five thousand dol
lars is subscribed and paid. The stock
shall be paid for in cash, or its equiva-
lent, when subscribed for, or the same
may be issued at not less than par in
payment for the property purchased by
the corporation.
ARTIcLEv
All the corporate powers of this cor
poration shall be vested in Board of
Directors, to be composed Of three
stockholders, which board shall be elect
ed annually, on the second Monday in
January, beginning In the yean 1908.
The first Board Of Directors is declar-
ed to be: L. r. Sapp, President; L. C.
Tension, Vice-President; L. L. Bridges,
Secretary and Treasurer.
This Board of Directors is to serve
until the second Monday in January,
1908, aforesaid, or until their successors
are duly elected thereafter, and such
new board shall elect its President, Vice
President. Secretary and Treasurer.
The Directors shall be elected by the
stockholders; each share of stock to be
entitled to one vote, to he cast by its
owner In person or by proxy, and a ma
jority OF votes shall elect. Three di-
rectors shall constitute quorum.
The President may appoint from time
to time, and dismiss, such clerks, agents
and other employees as may be deemed
necessary for the purposes and business
OF the corporation.
The Board of Directors may make all
such rules and regulations for the man
agement of the business as they may
deem necessary; shall have power to |
collect debts, borrow money, issue bills
OF exchange, notes, execute mortgages
and generally do all other things Incl
dent to the objects and purposes of the
corporation.
ARTICLE vi.
This Charter may be modified, chang
ed OF amended, and said corporation dis
solved with the consent of three-fourths |
in amount OF the capital stock repre-
sented at any general meeting f.stock-
holders convened for that purpose, after
five days. previous notice Of said meeting
shall have been published in the official /
journal OF Bossier Parish, La; meetings
of stockholders for other purposes than
OF the Charter or dissolution shall be
called by notice in newspaper pub
lished in Bossier Parish, La.
Whenever this corporation is dissolved !
by Limitation or otherwise, it's affairs
shall be liquidated by two commissioners
elected by the stockholders, who shall
have full power to wind up its, affairs.
settle its liabilities and distribute the
proceeds among creditors and stock
holders.
ARTICLE VII.
No stakeholder shall ever be held
liable for the contracts or faults of this
corporation in any further sum than the
unpaid balance due to the COMPANY on
shares of stock subscribed for.
All sales or transfers of stock must
hrst be made on the books of the Com
pany to be valid.
Done and passed in my Office in the
presence of r. M. Sandidge and E.
Hitler, competent witnesses, on this the
I'D day of May, A. D. 1907.
L. r. SAPP.
Lie. TENSION, !.
per L. r. Sapp.
IT RRJDCEC