St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1909-04-17
ShaT aTteI-
NILSSON SEARS COMPANY, LIMITED


NILSSON SEARS COMPANY, LIMITED
United States of America, State of Louisiana,
Parish OF ST. lammany, Town of Covington.
Be it known, That on this the 18th day of Feb
ruary, in the year of our Lord, one thousand
nine hundred and nine, before me, Edward H.
Richard, notary public in and for the Parish
of st. Tammany, State of Louisiana. duly COM
missioned and qualified, and in the presence
of the witnesses hereinafter named and under
signed, personally came and appeared the
several persons whose names are hereunto sub
scribed, who Severaily declared, that ayailing
themselves of the laws of this State, in such
cases made and provided, particularly OF the
provisions of an act of the Legislature of this
State, known as Act No. SO, of the session Of
1883, they do by these presents covenant,
agree and bind themselves, as well as such other
persons who may hereafter become associated
with them. to form and constitute corpora
ton for the objects and purposes, and under
the stipulations following, to-wit:
Article |.
The name and title of this corporation shall
be, NILSSON & SEARS COMPANY, LIMITED.
) The place of its domicile shall be in the town
of Covington, Parish of St. fammany, State OF
Louisiana.
the nature of the business to be carried on by
it is that of Insurance agency or brokerage,
the carrying on as agents or brokers', tne nuSl-
ness of effecting insurance OF all kinds Whethe
fire. life, accident, tornado, casualty, fidelity
riyet, marine or other assurances, and for the
purpose of operating a general agency ouSl-
ness for the purchasing of real estate ana Tor
the Improvement of the same, TO buy, sell, NY
pothecate, mortgage, effect and exchange any
and all kinds of real property, improve and
unimproYed, to conduct building ana loan as
sociation business, such as IS authorized by the
laws of the State OF Louisiana, 10 act as agents
or brokers for any kind ofiegitimate business,
To acf9 al aSf HuVlnp
selling of lands on commission, as rental agents
for the collection of rents, and all other busl-
ness incidental thereto or advantageous, IN
connection herewith.
Citation and all process shall be served on
the president, and in his absence upon tne
secretary and treasurer
This corporation shall have all the rights and
privileges granted by law to corporations.
Article IL.
The CAPITAL stock of this corporation is fixed
at the sum of five thousand (S5000 90, dollars,
divided into one hundred shares of fifty dol
lars each, with the privilege 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 Die
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 priyi-
lege of taking it at its book value within ten
days from the date of notification.
Article Ill.
The corporate powers of the company shall
be vested in a 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 1910
each share being entitled to a separate vote.
Bat majority of all the stock shall be required
to elect the members of the Board.
The first president shall be Jasper E. Nilsson,
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, 19l 10, or un-
til their successors have been elected and
qualified, and shall have power to fillVacancieS
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
if thought advisable.
In case the Board of Directors deem it adj
visabIe to separate the functions of secretary
and treasurer, 1t may authorize the president
to employ person not necessarily stock.
holder to act as secretary.
Article Nv.
In case of the dissolution of this corporation
the stockholders may elect one or two liquida-
tors to Iiquidate its affairs II two are chosen,
then In case of the death or disability of one,
the survivor shall have the right to act as sole
iiquidator.
Article v.
No Stockholder 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 SHAH any informaity
in organization have the the effect of render
ing this charter null or exposing stockhoder
to any liability beyond the amount Of the un-
paid balance due on his stock.
Article vi.
Failure to hold the meetings provided 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 tlrst above written. IN the
presence Of Horace r. Alexius and Thos Mont
omery, competent witnesses. residing In til