The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1908-07-09
CHARTER.

State OF Louisiana, | Before me, II. II.
Parish Of Booster. Montgomery, the
undersigned authority, Notary Public
in and for the Parish of Bossier, State OF
Louisiana, came and appeared on the
date hereinafter written, the following
persons here to appear, citizens OF the
State of Louisiana, who declared to me,
in presence of the attesting witnesses,
that they desire to form and constitute /
corporation lunder the laws OF Louisiana,
and that they do hereby form themselves |
and constitute same in compliance with |
the provisions and subject to the restric- |
tions of the laws of the State of Louis |
lana governing corporations and under
the provisions Of the incorporation for
such cases made and provided.
ARTICLE l.
Farmers Cooperative Union Ware
house Company, Limited, and under its
corporate name shall have power to con-
tinue and exist for period of ninety
nine years from the date of this instru-
ment, to contract, to sue and be sued, to
make and use a corporate seal, and the
same to break and alter at pleasure; to
hold, receive, purchase, convey, ALLEVIATE,
borrow pledge, mortgage and hypothe-
cate under its corporate name property
real, mixed or personal-to name and
appoint such officers, managers, agents
and employees as the interest of the
corporation may require; to make and
use such bylaws, rules and regulations
for the management Of the affairs as may
be deemed necessary and proper, and
the same to Reasonably change at pleas
.,2 ~ \ al 49, -
permitted by law that may be necessary
and proper to carry out the objects and
purposes for which this corporation is
organized.
ARTICLE II,
The domicile of this corporation is
hereby fixed and established at Plain
Dealing, Parish of Bossier, La. The
President, or in his absence the Vice
President, Secretary or Treasurer, are
the officers upon whom all legal pro-
cesses shall be served.
The officers of this corporation shall
consist OF a President, a Vice President,
a Secretary and a Treasurer, but the
Office of Secretary and Treasurer may be
filled by one and the same person, The
Treasurer, ii the Board of Directors
shall so require, shall give bond in such
sum as the Board of Directors mey de-
termine. Said officers shall be stock
holders in said corporation, and shall be
elected annually, in such manner as may
be determined, by vote of the stock
holders and set forth in bylaws govern
ing the election of officers, and they
shall serve until their successors are
elected. However, said officers shall be
subject to removal at any time by said
Board of Directors for good cause shown.
ARTICLE III.
The objects and purposes for which
this corporation is organized and the
business to be carried on by it are de-
clared to be the following, to-wit: To
establish and maintain cotton yards,
warehouses and other plants for hand
/ ling cotton or other farm products, and
/ to do a general warehouse business in
all it's branches, and particularly to store
cotton and cotton products, as well as
all other farm products, and to conduct
general brokerage and commission bust
ness in all farm products and supplies;
! to aid farmers to hold their products and
! TO market same advantageously in times
Of financial stress or depressed prices,
/ and to assist in obtaining loans and adj
vances on all farm products, and for that
purpose to act as agent or trustee for
either borrower or lender; and to issue
certificates, negotiable or otherwise, to
] persons Warehassing gseds with the cor
! poration, and 20 make advances on the
security of such goods or orthrwise, and
generally to hold and exercise all such
| incidental powers and privileges as
relate to the objects herein set forth.
ARTICLE w.
! The capital stock of this corporation
shall be $4,000, divided and represented
by 900 shares of So each, and as soon as
/ the said amount of stock mas been sub
scribed for and S3i0 has been paid in
this corporation shall be authorized to
begin business, (no stakeholder to own
over twenty-five shares of stock.)
ARTICLE v.
The corporate powers of this corpora
ton shall be vested in Board of Direc-
tors to be composed of five persons, all
OF whom must be stockholders in said
corporation, majority OF whom shall
constitute quorum.
The stockholders shall hold regularly
annual meetings, the date of which shall
be fixed by the bylaws of said corpora
ton. AT these meetings the stock
holders shall transact any business COM
ing before them .snd shall elect Board
| OF Directors for the ensuing year, all
directors and officers to be elected in
accordance with such rules and regula-
tons as shall be set forth in the bylaws
of this corporation, and all other matters
to be determined in accordance with
said bylaws.
The first Board of Directors shall be
G. T. Mays, President; S. P. Johnston,
oe-President; A. Hoffpauier, Secre-
tary; ]. A. Lowe, Treasurer and DR..
l. S. Arnold, who shall hold Office until
their successors are elected.
1t is especially understood that in the
event of failure on the part of the stock
holders to hold their regular annual
meeting, or for any cause to fail or neg
lect to elect new Board of Directors, it
shall in no wise effect the corporate acts
of this corporation. The old board
always to hold over until the new board
is elected and organized.
ARTICLE VI.
This charter can be changed, amended
or dissolved by two thirds vote of the
stockholders at a meeting called for that
purpose. -
i Should this organization become dis
solved by a vote Of its stockholders it's
affairs shall be hquidated by the Board
OF Directors, acting as a liquidating
board.
ARTICLE VII.
Shares of stock can only be trans
ferred by having the transfer recorded
ON the books Of the corporation, and no
transfer can be made until any unpaid
/ balance thereon shall have first been