New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-12-17
ARTICLE s.

AL suc VI tHh sbi
corporation shall be vested in and esel
cissd by Board of Directors to be com
posed of three persons to be elected ann
uslly on the second Tuesday of January Q
each year, except the first Board of Di
rectors named in this Charter, who shal
hold their offices until the 18th day of Jan
uary, 1912, or until their SUCCESSORS ar
elected and qualified.
All such elections for Directors shall b,
by ballet and conducted at the office o
the corporation under the supervision o
two Commissioners to be appointed b,
the Board Of Directors. Notice of sucl
election shall be given not less than ter
days prior to such election by written o.
printed notice to be mailed to each stock
holder at his usual place Of residence.
Every stockhGlder shall be entitled ia
one vote for each share of stock standing
in his name on the books OF the Company
to be cast either in person or by proxy
and the majority OF the votes cast shal
elect.
Amy vacancy occurring among the Di
rectors by death, resignation Or otherwise
may be filled by election for the remain
der of the term Of the Board by the re.
naming Directors.
The failure to elect Directors on the
date above specified shall not desolve the
corporation, but the Directors then in Of
nee shall remain in office until their sue
cessors are elected and qualified, and
shall cause another election to be held AZ
soon as practicable thereafter after notice
shall be given a. above provided.
Each Director shall be entitled to vote
1t meetings Of the Board either in person
or by proxy. and a majority of the Board
of Directors present either in person OF
BY proxy shall constitute a quorum for the
transaction Of business.
The FIRST Board Of Directors named in
this Charter and such Boards As may be
thereafter elected in accordance herewith,
shall be elected from their own number a
President, and they shall also elsct the
secretary who may or may not be a men,
Der OF the Board. The Board OF Direc.
tors shall have power to elect the same
person to fill two or more Of the offices
above provided.
The said Board may make and estab
lish, as well as alter aud amend, any and
all bylaws, rules and regulations neses-
sary and proper fr the conduct and
man agemsnt Of the business and affairs
Of the said corpor alton, and the said
Board shall have full power and authorit y
to borrow money, execute mortgages and
create liens, issue notes, bonds OF other
obligations, and generally to do all things
reasonable Or necessary for the proper
carrying on Of the business Of the said
and also, ~ above provided,
to issue and deliver the fully paid shares
Of stock for cash, or in payment Of labor
done or services rendered or property act
ually received, upOn such terms and con-
ditions a. it may see fit.
ARTlCL16.
Al the expiration Of this Charter, or in
The event of the prior dissolution Of the
It shall be liquidated by two
to be elected by the Board
VI Directors, which said commissioners
need not necessarily be stockholders,
and the said commissioners shall
have full power to sell all tho assets
II the property, both real and personal of
he corporation, and to convey full and
title thereto and to do all acts
essential or proper to . full and complete
liquidation Of ito affairs and distribution
II the proceeds, il any, among the stock
holders.
ARTICLE7.
No transfers of stock shall BE- admitted
n held to be valid and binding 30 far as
he Company 10 concerned unless made on
he books Of the Company, aud no sale or
ransfe1 shall BE- valid in any event un-
sss and until sixty days notice shall be
!iven to the President Of the Company,
those duty it shall be to notify all stock
olders, who within the said period Of
ixty days shall have the privilege, in
ropor' ion to their respective holdings Of
took, to buy the stock proposed to be
old 1t the price bona 6ds bid for the
ame, or ct the current market price. pro-
ided that the above limitation upon the
ght Of alienation shall not apply to a
ale OF transfer from one stakeholder to
mother stakeholder, and provided further
lot the said Limitation shall not apply to |
transfer by will or BY inheritance ex-
spt to one not . member OF the family of |
ceased stakeholder.
ARTICLE 8.
This act Of Incorporation may be modified.
anged or altered, or the said corporation may
dissolved with the assent of three. fourths Of |
q capital stock represented at a general meet.
+ Of the stock holders convened for such pur-
ZEE, after . written notice tn each stock holder,
allied 90 him u his usual place Of residence at
ast fifteen days prior TO the date Of the stock
setting.
ARTICLE o.
No stakeholder shall ever be held liable for the
ptracts or faults Of the .aid corporation In any
hsr sam than the unpaid balance due the cor.
ration on the shares of stock owned BY him.
r shall any mere infor0ality In organization
" the effect Of rendering this charter null or
exposing any stakeholder to any liability be-
nd tie unpaid amount due on his stock
ARTICLE 10
Dudley Avery. Mistress Sarah Avery Leeds 4 |
dow Of lawful age. and Mistress Margaret Avery
huston. widow Of lawful age, shall constitute |
) hrst Board Of Directors Of the said corpora.
m to serve until their successors shall have
IN elected and qualified ~ above provided.
The subscribers hereunto have respectively II
ittsn opposite their names the amount Of stock
this corporation subscribed for ~ each Of them
that this act Of incorporation nay also serve
the original subscriptions list Of the corporation
1hus dors and passed. In my once In the Parish
!bsS|s In the presence Of John L. Avery and G |
Hsnshaw, competent witnesses Of lawful age
ID residents Of this Parish. who hereunto sien
III names with the said eDpeafers and me, No.
y, ON the day and date aforesaid.
fDLBY AVERY. -. 49,. $50 SHAREel
RIA AVERY LEEDS . $50 sHARESl
ire ARET AVERY JOHNsrOr $50 SHARES
JOHN IL AvDRy