St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1907-04-06
HARTER
OF THE
POnChataIaWa Land And I'm
prOVement Company, Ltd.
United States of America, State of
Louisiana, Parish of Orleans,
City of New Orleans.
CHARTERS

anu III 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 avaIling 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, covenant and
agree and bind themselves, as well as all such |
persons as may hereafter become associated
iects and purposes and under the articles and
StlpulatlonS 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 for
the full term and period of nInety-nlne 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 incorporate 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 we'll 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 IL.
The domicile of said corporation shall be in
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
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
ftNn TO Eet-
others, lmmovable property of every descrip-
ton whatsoever in the Parish of st. Tammany,
State OF Louisiana, or elsewhere in the United
States, and generally to hold and exercise all
such incidental powers and privileges as relate
to the objects heref1above 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 Nv.
The capital stock of said corporation is here
by fixed at the sum of three hundred thousand
dollars tS3OO,0OO.OO,l divided into and repre-
sented by three thousand 5000 shares of stock
OF the par value of one hundred dollars tSl0OJ
! each. Sale stock Shall be paid for in cash, at
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 soon
as ten thousand dollars tS10, 100000 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 tn he rncai nf lacc than
| I 81 nor more than twelve tl2l stockholders,
| to be elected annually on the second Monday
| in January in each year, except the first Board
appointed in this charter, who shall hold their
offices until the second Monday in January,
| 1908, and four ~ directors shall constitute a
quorum for the transaction of business,
| All such elections shall be held by ballot and
conducted at the office of said corporation, UNI
| to be appointed by the Board of Directors, and
| the Board shall be empowered to decrease OF
increase its number at pleasure.
| Notice of such election shall be given by the
secretary of the company, by publication foI
not less than ten t1O days prior thereto in d
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 in
his name on the books of the company, to be
cast in person or by his written proxy, pro-
vided any and all proxies so given shall desig-
|
and the majority of the votes cast shall elect.
Any vacancy occurring. among the Directors
by death, resignation or otherwise, shall be
filled by election fol the remainder of the term
| by the remaining Directors.
| A failure to elect Directors on the date above
| specified shall not dissolve the corporation
| nor impair its corporate management, but the
directors then in office shall remain in otflce
until their successors are elected and qualltIed
The Board of Directors shall elect from theil
| own number, President and Vice President
They Shall also elect Secretary and 1 treasurer
| or one person who shall be both, either o.
| whom may or may not be members of the
| Board. They may, from time to time, name
| and appoint all such other officers and agents a.
| it may deem necessary for the purpose anc
| business of the CO rporation. They shall have
| power to fix and define the duties of every
| officer and employee, and all officers and en-
| plOyeeS shall hold Office and employment at fhs
| pleasure of the Board. The Board may make
and establish as well as alter and amend, any
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 t
| 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 ITO
| 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 lquidated by three ~ com
| miSSioners, to be appointed from amongst tn
| stockholders at general meeting of the stock
holders convened for such purpose, of which
| meeting notice shall be given In the name
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
| uusite to elect. Said commissioners shall re
main in office until the affairs of said corpora
ton shall have been fully liqudated. In cas-
of death of one or more of said commissioners
the vacancy shall be filled by election by tn
| surviving commissioners, "a
ARTICLE VII.
This act of incorporation may be modified
changed altered, or said corporation may
dissolved with the assent of three-fourths O
the capital stock represented at general meet
ing of the stockholders convened for Sucl
purpose, and after notice shall have been give
in one or more newspapers published in til
| Town of Covington, State of Louisiana, once
week for four weeks preceding the meetn
and by written notice to each Stockholdel
mailed to him thirty days prior to the date c
meeting, at the postotfice address designate
| by him in writing.
| ANY changes proposed or made in referenc
to the capital stock shall be made in accordanc
with the laws of the State of Louisiana, on TIL
subject of altering the capital stock of corpora
tons,
ARTICLE VIII.
No stakeholder shall ever be held liable 70
the contracts or faults of said corporation i
any further sum than the unpaid balance du
| the corporation on the shares of stock oWne
by him, nor shall any mere informally ii
| organization have the effect of rendering thi
| RI mil 1rN of a cfnrkhnIHPr