St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1907-04-27
CHA r TER
POnChataIaWa Land And I'm
pTOVement Company, Ltd.
United States of America, State of
Louisiana, Parish of Orleans,
City of New Orleans.
OF THE

BE ii KNOWN, That on this fifteenth day of
the month OF March, in the year of our Lord,
one thousand, nine hundred and seven and of
the independence of the United States of
hHeIlCa, the one hundred and thirty-first,
before me- John Marshal Quintero, a notary
public, duly commissioned and qualified in and
Tor 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
ana PROVIDED, they have coVenanted and
agreed, and do, by these presents, covenantand
agree ana bind themselves, as we'll as all such
persons as may hereafter become associated
win them, to form corporation for the OBJ
lectS and purposes and under the articles and
Stlpulations following to-wit;
ARTICLE /,
The name of this corporation shall be "PON-
CHAIALAWAL LAND & IMPROVEMENT COMPANY
LlMl lied" and under its said corporate name
II snaL nave power and authority to have and
ehloy corporate existence and succession for
the 1ull term and period of ninety-nine wears
from ana after the date hereof, to contract,
sue ana be sued, to make and use corporate
seal, and the same to alter and break at pleas
udej 10 hold, receive, lease, purchase and con-
Vey' as well as mortgage and hypothecate,
property, real, personal and mixed, corporeal
ana Incorporate; to name and appoint such
managers agents, directors and officers as its
oa??IltSeS' llltSIeSt anu convenience may re-
qulre, and to make and establish, as well as
alter and amend, from time to time, such by
laws, rules and regulations for the proper
government OF the affairs of said CORPORATION
as may be necessary and proper
ARTICLE II.
The domicile of said corporation shall be in
the Town OF COVingtOn, Parish of st, Tammany
State OF Louisiana, and all citations or other
| legal process shall be served upon the presi-
cent OF SAID corporation, or in the event of his
ABSENCE, upon the vice president thereof, and
| in 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-
| ton whatsoever in the Parish of St. Tammany,
| state or LOUISIANA, or elsewhere in the United
states, ana generally to hold and exercise all
such incidental powers and privileges as relate
to the objects hereinabove set forth: as an ad-
| lunct 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 tc
pc owned, by this corporation, To bulC
| prldgeS for toll, and to bore for oil, gas anC
water and other minerals as the company may
thlnk proper and to do all things inciden
| thereto.
ARTICLE ".
The capital stock of said corporation is here.
BY fXed at the sum of three hundred thousand
dollars tS3OO,O00.OO,l divided into and repre-.
sented by three thousand 5000 shares of stocl
OF the par value of one hundred dollars $500
each. Sale stock shall be paid for in cash, a
such time, in such amounts and after such no.
tee to the subscribers, as may be fixed by the
Board OF directors, or the same may be issuec
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 (S10,00000) 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 o.
Directors to be composed of not less than five
81 nor more than twelve u2l stockholders
IN January in each year, except the first BoarC
appointed in this charter, who shall hold t1ei
offices until the second Monday in January
1908, and four IA directors shall constitute
quorum Tor the transaction of business,
All such elections shall be held by ballot anG
conducted at the office of said corporation, un
der the supervision of three l3l commissioner
to be appointed by the Board of Directors, anC
the Board shall be empowered to decrease o
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 90 days prior thereto in
newspaper published in the City of New Or
leans.
At all such elections and at all corporate
meetings, every stakeholder 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
vlded 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 above
specified Shall not dissolve the corporation
nor impair its corporate management, but tht
directors then in office shall remain in offict
until their successors are elected and qualified
| The Board OF Directors shall elect from thel
own number, President and Vice President
They shall also elect Secretary and a Treasurer
or one person who shall be both either o
whom may or may not be members of thu
Board. They may, from time to time, name
and appoint all such other officers and agents a
it may deem necessary for the purpose an(
business of the co corporation. They shall have
4 power to fix and define the duties of every
officer and employee, and all officers and EN-
ployees shall hold office and employment at thu
pleasure of the Board. The Board may MAKE
and establish, as well as alter and amend, an!
and all bylaws, rules and regulations neceSSar!
and proper in its judgment for the conduct
support and management of the business ant
affairs of said corporation.
| The Board shall have full power and authority
to borrow money to execute mortgages and II
create liens; to issue bonds, notes and othe
| obligations, and generally to do all thing
| reasonable, convenient and necessary for thu
proper carrying on of the business of the cor
poration.
No stakeholder owning less than ten no
shares of stock shall be eligible as Director.
ARTICLE VI.
| Whenever this corporation may be dissolved
either by limitation or from any other cause
its affairs shall be liquidated by three 81 com
missionerS, to be appointed from amongst tht
stockholders at general meeting OF the stock
holders convened for such purpose, of which
meeting notice shall be given In the manne
and time provided for stockholders meeting
by Article VII of this charter, and majority il
the amount of the capital stock of said com
pany represented at such meeting shall be re-
quisite to elect. Said commissioners Shall re-
main in office until the affairs of said corpora
ton shall have been fully liQuidated. in case
of death of one or more of said commissioners
the vacancy shall be filled by election by the
surviving commissioners,
| ARTICLE VII.
This act of incorporation may be modified
changed altered, or said corporation may bt
dissolved with the assent of three-fOurths Of
| the capital stock represented at general meet
ing of the stockholders convened for sucE
purpose, and after notice shall have been giver
l in one or more newspapers published in the
| Town of Covington, State of Louisiana, once Z
week for four weeks preceding the meeting
| and by written notice to each stakeholder
mailed to him thirty days prior to the date Of
| meeting, at the postoffice address designated
| by him in writing.
Any changes proposed or made in reference
to the capital stock shall be made in accordance
| with the laws of the State of Louisiana, on the
subject of altering the capital stock of corpora
| tons,
/ ARTICLE VIII
| No stakeholder shall ever be held liable fol
| The contracts or faults of said corporation ii
| any further sum than the unpaid balance due
| the corporation on the shares of stock ownec
1 by him, nor shall any mere infOrmalIty in
| organization have the effect of rendering thi:
4 cnarter null or of exposing a stakeholder tC
| lly liability beyond the unpaid amount re.
| naining due on his stock.
I