New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-11-19


lars Of its capital stock shall hav
been subscribed for. Certif cate
Of stock fully paid and nJn-as
seSsabIe shaIl be issued to eac
subscriber to the amount paid b
| hlm therefor.
I'm case any stakeholder desire
to sell his stock he shall give a
least thlty days notice III writ n
tp the secretary Of his lntentioI
10 sell The same. and upon r.
celpt OF such notice the Board o
Directors shall thereupon. for tn
bentfit Of the stockholders, have tn
first option to purchase SAID stoc
at qhe price equ valent to any bon'
fide offer by any person for tn
same, and the Secretary shall i'm
mediately notify each stockholde
Of the receipt of such notice an,
each stakeholder shall thereupOl
have the right to purchase suci
an interest in said stock as is rep
resented by the proportion hi
stock bears to the cap tai stocl
then issued, and in case any stock
no,der shall not desire to pure has,
such interest, the same, or his righ
thereto shall belong to the Other
stockholders in the same proper.
non, and the foregoing notice an,
option within Thirty 800 Days
shall be condhaon precedent t.
the transfer of any stock on the
books Of the Corporation.
A failure of any stakeholder tu
exercise his option within thirty
800 days from the date Of such
notice to the secretary, shall for
ieit his right to purchase the same
or any part thereof.
All stock certif Gates shall have
printed on their faces thefollow-
ing:
This certificate is issued and
held subject to all conditions and
restrictions set out in the charter
and bylaws of this Company
Certificates Of the capital stock
shall be executed by the president
and secretary under seal of The
No certificates shall
De issued until the stock evidenced
hereby shall be fully paid, and no
new certificates shall be reissued
Tor existing certificates until the
I'D certificates have been surren-
Tered and cancelled. When not
purchased by other stockholders as
lbove provided, certificates of
stock may be transferred on the
under such terms and
conditions as the bylaws shall
Article v.
The control conduct and man
'gement of the property and bus
ness of this corporation shall be
'ested in and exercised by a
Board Of Directors to be composed
# Three (3) Stockholders of this
corporation, a majority Of whom
hall constitute a quorum for the
transaction of business. The
tockholders shall meet immediate
y after the adoption Of this Char
er and shall elect the Company's
irst Board of Directors. and may
.dopt bylaws for the government
f the Corporation and it's Board
f Directors which bylaws may
'e amended at any annual ms
ng by a majority vote of all the
he stock issued, or at any spe-
ial meeting duly called for the
purpose in accordance with the
of the bylaws.
The Board of Directors shall
old office until the first Tuesday
fter the first Monday in February
911, or until their successors have
'een elected and qualified. The
aid Directors shall be elected an
lually on the first Tuesday after
he first Monday in February of
ach year thereafter, and all such
lections shall be by ballot, and
hall be held at the office of the
orp0ration.
Ten (10) days dprior notice Of
uch elections shall be given by
he Secretary, who shall send such
office no each stockholder by no.
ice mailed to his address as shown
y the books of this corporation.
stockholders may vote in person
r by proxy duly executed and
led with the Secretary.
The Directors thus chosen shall
erve and continue in office nutil
heir successors shall be elected
nd qualified. At each election,
ach of the stockholders shall BE-
ntitied to east one vote for each
nd every share Of stock held by
i'm either in person or by proxy
nd a majority of the votes thus
asst shall elect the directors for
he ensuing year. If at any time
here should be a failure to hold
stockholders meeting to elect di-
ectors, or If at such meetings.
here should be a failure to elect
lirectors as above provided, such
allure shall not dissolve this cor
but the then existing
'oard of Directors shall continue
0 hold office; and as soon as may
e practical thereafter, another
lection may be held. whereof ten
10) days, prior notice shall be CIV
n by the Secretary as above.
Any vacancy occurring in the
'oard Of Directors from any cause
whatever between the elections
hall be flied by the remaining
directors. Said Board of Direc-
ors without being thereunto spec
ally authorized by the stockhoid-
~ shall have full power to mort
age the property Of the Corpora