Thibodaux commercial journal. (Thibodaux, Lafourche Parish, La.) 191?-1959, 1910-12-21

of the following named persons: Arthu
A Scott, President and General Manager
Z. Emile Scott, Vice PRESIDENT, l.. AL
phonse Scott, Secretary and Treasurer
Frank T. Scott and Andrew Scott.
ARTICLE b.
The Board of Directors shall have tn,
power generally to supervise the bushes.
of the corporation, to adopt general rule
for its conduct; to contract for the pur
chase OF whatever may be required fol
the opera lion of the property of the cor
poration in proper manner; to hire, EN-
ploy and engage such overseers. manager.
or superintendents as may be thought ne
cessary, and to fix their salaries and com
pensation; to mortgaSe Or pledge the
property and effects of the corporation
by a majority vote of the Board.
ARTICLE
Three members of the eoard shall con
stitute quorum for the transaction o
business of the corporation.
No person shall be qualified to be a
member of the Board of Directors unless
he shall own at least one share of the Ca
pital stock of the corporation
ARTICLE s
The PRESIDENT shall nave general super.
vision of the administrative affairs oi
the corporation; he shall preside at all
meetings of the Board and shall deal di-
rectly with the executive officers of the
corporation; he shall be the manager oi
the finances and of the improvements to
the property of the corporation. He is
vested with the power granted by ma
jority vote of the Board of Directors to
borrow money for the business of the cor.
poratiou; to make and subscribe notes in
representation of the loans so contracted
to endorse notes for discount, and shall
fniI tn nj lyn al
property OF the corporation, as set forth
in a previous Article of this charter.
ARTICLE 9.
The Treasurer shall be the custodian ot
the funds of the corporation, which funds
shall be deposited in such bank or banks
as may be decided on by the Board.
The checks to be drawn on the treas.
urer shall be signed by the PRESIDENT o,
the Vice president and by the Secretary
ARTICLE 10.
The Vice President shall exercise the
functions of the Presldtnt in case of the
latter's inability to act or absence from
the parish.
ARTICLE IL.
The Secretary shall have charge OF
the books OF the corporation, in which
shall be kept the accounts of the reve
nues and expenditures of the business
These books and records shall bt
subject to the inspection of any mem.
ber of the Board of Directors.
ARTICLE II.
NJ stakeholder shall be liable or res
ponSlble Tor any sum beyond the
amount OF his subscription. and III
shall be subject to no further call an(
shall in no way be liable for anyse&ths
debts of the corporation.
All creditors must look to the cor
porate property for their demands
nor shall any mere infOrmality of or
gapizatiOn have the effect of render
ing this charter null, or of exposing
any stockhOlder to any liability be
yOnd the amount of his subscription
ARTICLE Ii.
This charter may be changed, modi
fled or amended, or this corporation
may be dissolved by the stockhOlder
at a general meeting called for tha
purpose, with the assent of thre,
fOurths of the stock present or repre-
sented at such meeting. Ten days
notice of such meeting shall be given
either by mailing same to the las
known address of each stakeholder, o.
by publication in a newspaper publish
ed in the parish of Lafourche. Salt
notices shall concisely state the Ob
jects and purposes for which the meet
ing is called, and, if by publication
shall be published for ten consecutive
days Immediately preceding said meet
ing.
ARTICLE IA.
Any changes proposed or made will
reference to the increase Oh decreas,