The weekly Iberian. (New Iberia, La.) 1894-1946, 1907-04-27

. ter such notices as the board of direc
tors may fix, or may be issued in pay
ment of labor or services rendered, o
property actually received by the SAT-
corporation.
In case of the failure of any sub
scriber to pay the installments de
Eanded on hts stock. as required, thu
board of directors shall have the op
+ ton after thirty days written notice K
e the delinquent, Of FORGETTING his stock
G with all amounts previously paid
] thereon, and no stakeholder shall have
{ the right to vote while in default fol
unpaid lnstallments due on his stock
This corporation may begin its bust
ness and operations as soon as five
, thousand dollars OF the capital stock
shall DC subscribed and paid for.
All shares of stock shall be fully paid
and non -assessab!e and transfers OF
stock shall not be binding upon said
company unless recorded upon it's
books of transfer.
No stockholder shall be held liable
or responsible for the contracts or
faults OF said corporation in any fur
Their sum than the unpaid balance due
on shares OF stock owned by him: nor
shall any mere informally in organi.
cation haye the effect Of rendering
this charter null or Of exposing stock
holder TO any liability beyond the
amount Of his stock. The subscription
and stock.bOoks shall be kept at the
domicile and in the Office of the com.
pany where certificates of stock shall
be issued to the subscribers. and
no transfer OF stock shall be rec
ognized as valid and binding I'M
til the same is made upon the
stock books of the company. Stock
books shall be closed for the transfer
Of stock ten days before election.
All subscribers to stock and all who
acquire stock BY purchase Or otherwise
shall be deemed members OF this act
Of incorporation.
ARTICLE ".
The corporate powers of said cor.
poration shall be vested in and exer-
c,sed, and the business and affairs of
this corporation she'll Re managed and
conducted by board OF directors COM
posed of fourteen (l4) stockholders.
Said directors shall be elected annu-
ally on the first Monday OF Nay or
such other day AZ the stockholders at
a regular or any special meeting may
fix, and all such elections shall be by
ballot.
OF each election ten days prior no.
tice shall be given in 2 newspaper
published in the City Of New iberia
and the directors thus elected shall
serve until their SUCCESSORS shall have
been;elected. A majority of the votes
Fcast shall elect, and each share Of stock
shall be entitled to one vote, either in
person or by proxy.
A failure to elect directors en- the
day required shall not dissolve the
corporation but the then board Of direc.
tors shall continue to hold their Office;
and another election shall be held with-3
in thirty days thereafter, and ten day0
prior notice shall be given In q news
paper published in New Iberia. La.
Any vacancy occurring in the board
Of directors from any cause whatever
shall be filled by election by the ra-
naming directors. Nine 80 directors
shall constitute a quorum for the trans
action Of business.
The board of directors at the first
meetingi In each year shall elect one OF
their own number q president and 2
first, second and third vice-president,
and shall also elect secretary and
treasurer, but the same person may
hold the Office Of secretary and treas
urer, and shall appoint from time to
time such officers, clerks, agents and
confer power to appoint same and 9th
er employees as may be deemed neces.
sary for the business and purposes Of
said corporation, and dismiss the Same
at pleasure, and shall have full power
to make and establish a. we'll a.
change or amend or alter conf0rmably
to this act OF incorporation, all bylaws,
rules and reNulatiOns deemed requisite
Tor the support and management OF the |
affairs and business Of said corpora
ton, and it shall have full power to
borrow money execute mortgages. js-
sue bonds, make contracts, make rules |
for declaration of dividends and gen
orally to do all things and act in all |
matters pertinent to the objects and
purposes Of this corporation, a. also |
to Issue and deliver full paid shares Of |
this stock or the bonds or obligations |
Of this corporation in payment Tor ID. |
Dor done, or money, or rights In pro- !
perry actually received.
And any rule or bylaw il subject % |
repeal, modification or change BY the |
holders Of q majority Of the stock q |
any meeting of the company
The notice Of the annual meeting Of |
the stockholders may be given by pub
LEGATION as above provided for, or, such
notice may be given by ten days mo-
tice in writing to each stakeholder Of
the time and place of holding said an
nual election. which may lie served by
such notice to him adj
dressed through the mails to his last l
knowQplace of residence or business;
provided, that when all Of the stock
holders are present in person or by
proxy they may waive in writing the
notioe and delay for such meeting, ex-
cept in cases where othsrwise pg0vid-
Cd by law.
In voting for directors each stock.
holder shall be entitled to cast either
in person o. by proxy, one vote for
each share e stock owned BY him
which shall have been staudinRIn his
name on the books Of the compass for
at least ten days prior to the. date Of
said election. l..
The board Of directors may establish
transfer agencies IN financial centerx
70 make transfer Of stock Of this cor
poratiOn and under such REASONABLE
rules and regulations as the board may
establish. HtOck trana6et9 on the
books of said transfer agents shell be j:
deemed transferred on the books Of
he company.
. ARTIcLH
! The following pessodo shall copsti-
ute the first board ofdifectors, 70. Wit: !
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