St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-03-20
VOL. xxxv NO. 18

ness of effecting insurance of all kinds whether
fire, life, accident tornado, casualty, fidelity,
rivet, marine or other assurances, and for the
purpose of operating general agency busi-
ness for the purchasing of real estate and for
the Improvement of the same, to buy, sell, hy-
pothecate, mortgage, effect and exchange any
and all kinds of real property, improve and
unimproved. to conduct building and loan as
sociation business, such as Is authorized bythe
laws of the State of Louisiana, to act as agents
or brokers for any kind oflegitimate business,
to act as real estate agents for the buying and
selling of lands on commission, as rental agents
for the collection of rents, and all other busi-
ness incidental thereto or advantageous, IN
connection herewith.
Citation and all process shall be served on
the president, and in his absence upon the
secretary and treasurer.
This corporation shall have all the rights and
privileges granted by law to corporations.
Article II.
The capital stock Of this corporation IS fixed
at the sum of five thousand CS5000 00 dollars,
divided into one hundred shares of fifty dol
lars each, with theprtvilege by vote of two
thirds of the shareholders to increase the capi-
tai stock to ten thousand dollars. The said stock
to be paid for in labor or service rendered the
corporation or in cash at the time of the cor
poration, or when called by the Board OF Di-
rectors, or in property actually received by It.
No sale or transfer of stock shall be made to
any person not already holding stock in this
corporation, unless it shall have first been
offered through the Board of Directors to the
old stockholders, who are to have the prlVi-
iege OF taxing 1t at It's BOOK VaEuS WlIIlln ten
days from the date of notification.
Article Ill.
The corporate powers of the company shall
be vested in Board of Directors, composed OF
three stockholders, of whom two shall consti-
tute quorum, and they shall be elected annu-
ally by the stockholders either viva voce or by
ballot, as the bylaws may determine, on the
first Monday in February, beginning with 9t0
each share being entitled to a separate vote.
But two-thirds ofall the stock shall be required
to elect thc members of the Board.
The first president shall be Jasper E. Nilsons
and the first secretary and treasurer shall be
Geo. E. Sears, and these shall be ex-officio mem
bers of the Board Francis j. Keller constituting
the third member and these shall all hold office
until the first Monday in February, 1910, or un-5
til their successors have been elected and
qualified, and shall have power to fill vacancies
on the Board, the secI etary and treasurer how
ever acting as president until successor has
been chosen.
Bylaws may be adopted, prescribing and de-
fining the powers and duties of the several
officers of this corporation, and fixing their
compensation, if thought advisable.
In case the Board of Directors deem it adj
yisable to separate the functions of secretary
and treasurer, it may authorize the president
to employ person not necessarily stock.
holder to act as secretary.
Article w.
In case of the dissolution of this corporation
the stockholders may elect one or two Iiquida-
then in case of the death or disability ofJone.
the survivor shall have the right to at as sole
liquidator.
Article v.
No stockhoIder of this corporation shall ever
be held liable for the contracts, Indebtedness
or faults thereof in any further sum than the
unpaid balance due the corporation on the
shares owned by him, nor shall any informaity
in organization have the the effect of render-
ing this charter null or exposing a Stockholder
to any liability beyond the amount of the un-
paid balance due on his stock.
Article vi.
Failure to hold the meetings Droyided for in
the foregoing articles for the election of di-
rectors and officers at the time specified shall
not work a forfeiture of this charter, and the
officers and directors shall hold their places
until their successors are elected.
Thus done and passed at my Office in the
town of Covington, Louisiana, on the day,
month and year first above written, in the
presence of Horace K. Alexius and Thos. Mont
gomery, competent witnesses, residing in this
town, who sign their names hereto with said
parties and me, notary, after reading of the
whole.
Original signed JASPER E. NILSSON.
GEO. E. SEARS.
F. j. KELLER.
Witnesses:
HORACE R. ALEXlUS,
THOS. MONTGOMERY.
EDW. Ii. RICHARD, Notary Public.
true copy
EDW. II. RICHARD, Notary Public,
State of Louisiana, Parish ofSt Tammany,
Clerks Office.
certify that this instrument was filed for
record February %, 1908.
Recorded in Mortgage book P. page of the
W. E. BLosSMAE,
Deputy Clerk and Ex-officio Recorder.