New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-11-26

l1hree Thousand ,QOUUO) DOL
lars Of its capital stock shall have
been subscribed for. Certificates
of stock fully paid and m0n-as-
scssablc shall be issued to each
subscriber TO the amount paid by
him therefor.
In case any stakeholder desires
10 sell his stock he shall give at
least thirty days notice IN writing
tD the secretary Of his intention
TO sell The same, and upon re
ceipt Of such notice the Board Of
Directors shall thereupon. for the
bentfit of the stockholders, have the
first option to purchase said stock
at Ahe price equ valent to any bona
fide offer by any person for the
same, and the Secretary shall i'm
mediately notify each stakeholder
of the receipt of such notice an1
each stockholder shall thereupon
have the right to purchase such
an interest in said stock as is rep
resented by the proportion his
stock bears to the capital stock
then issued, and in ease any stock
holder shall not desire to pure hase
such interest, the same, or his righ'
theret, shall belong to the other
stockholders in the same proper
ton, and the foregoing notice and
option within Thirty 900 Days
shall be condition precedent to
The transfer of any stock on the
books of the Corporation.
A failure of any stakeholder to
exercise his option within thirty
500 days from the date OF such
notice to the secretary, shall for
reit his right to purchase the same
or any part thereof.
All stock certif Gates shall have
printed on their faces the follow
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
corporation. No certificates shall
be issued until the stock evidenced
thereby shall be fully paid, and no
new certificates shah be reissued
iior existing certificates until the
lid certificates have been surren-
Tered and cancelled. When not
purchased by other stockholders as
above provided, certificates of
stock may be. transferred on the
company under such terms and
conditions as the bylaws shall
provide.
Article v.
The control conduct and man
agcment of the property and bus
mess of this corporation shall be
vested in and exercised by a
Board Of Directors to be composed
of Three (3) Stockholders of this
corporation, a majority Of whom
shall constitute a quorum for the
transaction of business. The
stockholders shall meet immediate
y after the adoption Of this Char
ter and shall elect the Company's
first Board Of Directors. and may
adopt bylaws for the government
of the Corporation and its Board
of Directors which bylaws may
be amended at any annual me-
ing by a majority vote of all the
the stock issued, or at any spe-
cial meeting duly called for the
purpose III accordance with the
provisions of the bylaws,
The Board of Directors shall
hold office until the first Tuesday
after the first Monday in February
1911, or until their successors have
been elected and qualified. The
said Directors shall be elected an
nually on the first Tuesday after
the first Monday in February of
each year thereafter, and ali such
elections shall be by ballot, and
shall be held at the Office Of the
corporation,
Ten (10) days .dprior notice of
such elections shall be given by
the Secretary, who shall send such
notice 40 each stockholder by no
tice mailed to his address as shown
by the books of this corporation.
Stockholders may vote in person
or by proxy duly executed and
filed with the Secretary.
The Directors thus chosen shall
serve and>continue in office nutil
their successors shall be elected
and qualified. At each election,
each Of the stockholders shall 5t
entitled to east one vote for each
and every share of stock held by
him either in person or by proxy
and a majority of the votes thus
cast shall elect the directors for
the ensuing year. If at any time
there should be q failure to hold
a stockholders meeting to elect di-
rectors, or if at such meetings
there should be failure to elect
directors as above provided, such
failure shall not dissolve this cor
Iporation. but the then existing
Board of Directors shall continue
to hold office; and as soon as may
be practical thereafter, another
election may be held. whereof ten
(10) days, prior notice shall be CIV
en- by the Secretary as above.
| Any vacancy occurring in the
Board of Directors from any caus,
whatever between the elections
shall be flied by the remaining
Directors. Said Board Of Direc.
tors without being thereunto spec
tally authorized by the stockhoid-
ers shall have full power to mort.
gage the property Of the Corpora