The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1908-11-14


or may be issued at not less than par in
payment of property actually received or
purchased by said corporation, or the
same may be issued, fully raid, for labor
done or money advanced to said corpora
ton. No transfer of stock shall be re-
cognized or be binding upon the COM
pany unless made pursuant to its bylaws
and recorded npon the books Of the com
pany.
This corporation shall commence do
ing business as soon as Six Thousand and
no-10O (S6O00. O0) Dollars of the capital
stock shall have been subscribed for.
ARTICLE V.
All the powers of this corporation and
the management and control Of its affairs
shall be vested in and exercised by a
Board of three Directors, composed of
stockholders, a majority of whom shall
constitute a quorum, and a. majority of
said quorum shall be sufficient to trans
act business. and their decisions shall be
valid corporate acts.
Any of the Directors shall have the
right to appoint another stakeholder AS
his proxy to attend any and all meetings
of said Board of Directors.
They shall elect from their number Il
president, vice-president. a secretary
and treasurer. The following named
persons shall constitute the first Board of
Directors: J. p. Suberbielle, A. }. SUI
berbie.le and Emile Gajan, with J. P.
Suberbelle, as President; Emile Gajan,
as Vice Presdent: and A. j. Suberbiellc,
as Secretary Treasurer. They shall hold
office until the second Monday of May,
\. d. 1909. or until their successors
shall have been duly elected.
No person shall be eligible as director
or officer who is not stock colder of this
company.
The Board of Directors shall elect
its officers and shall appoint such agents
and managers as may be necessary, and
shall fix their compensation.
The said Board of Directors shall make
all bylaws, rules and regulations for the
proper government of the business and
affairs of the corporation, and alter,
amend and change the same at pleasure.
they shall have power to buy, sell. |
mortgage, pledge and lease any and ali
property, real, personal and..mixed. cor
poreaI or incorporeal, whenever in their
Judgment they may deem such acts neces-
>arN and proper. and to make all con-
tracts aud agreements necessary t" carry |
same into effect.
All acts of sale, purchase, lease or
other contracts shall be signed by the
President, or in case of his absence or
inability to act by the Vice. President.
ARTICLE vi.
On the Second Monday of May of each
year beginning with the year 1909, there
shall be meeting Of the stockholders to
elect directors for the ensuing year.
which meeting shall be called after q
notice published twice in ten days in
one of the weekly newspapers published
IN the Parish of ST. Mary, State of Louis
ana, and also after a written or printed
copy of said notice in the post-officet
prepaid, addressed to each stockholde.
It his usual place of residence at leasr
EN- days before the date fixed for said
Meeting; and the Board of Directors
hall appoint one or more stockholders to
preside at such election as commissioners.
n the event of the failure of any COM
or commissioners to attend.
he President shall, by appointment, fill
he vacancy.
AT every election and meeting each
tockholdcr shall be entitled to one vote
or each share of stock registered in his
anne. and may vote by proxy.
The election of directors shall be by
allot, and the majority in amount of
otes cast, each share of stock voted up.
n to be counted for one vote, shall elect .
ne person or persons for whom they
ave been cast.
Any failure from any cause whatever
elect directors the day named for that
urpose shall not dissolve the corpora
on, but the directors then in office, as
ell as the officers of said company. shall
old over until their successors are
1osen, aud any vacancy occurring on
he board of directors from any cause
aaIl be filled by the remaining directors.
ARTICLE VII.
No stakeholder of this corporation
lall ever be held liable or responsible =
'r the contracts or faults thereof. in anvil
lrthcr sum than the unpaid balance due
e company on the shares of stock SUBJ r
ribbed for or owned by him, nor shall
~ mere infOrmality in organization q
I'VE the effect of rendering this charter t.
Ill, or of exposing the stakeholder to
~ liability beyond the unpaid balance, =
any, of his stock.
ARTICLE VIII.
This act of incorporation may be modi-
d, changed, abridged or amended or >,
id corporation may be dissolved by a g
tie of three-fourthso of the stock at a gen. p
al meeting held for that purpose after at u
asst ten days written notice in the post. Il
ice, prepaid, addressed to each stock p
lder at his usual place of residence. D
q in case of dissolution, three commits a,
'ners shall be elected at said meeting ri
said stockholders, and said commits =,
'ners shall wind up and settle the affairs :"
this corporation.
At the termination of this act of in .
operation either by limitation of its N
arter or from any cause, the business -
affairs OF this corporation shall like