New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-11-05

the TRANSACTION of business unde
its corporate name as soon a
Three Thousand ($3,0O0.OO) Dol
lars of its capital stock shall hav,
been subscribed for. Certificate,
of stock fully paid and non-as
sessahe shall be issued to eaci
subscriber to the amount paid b,
him therefor.
la case any stakeholder desires
to sell his stock he shall give a.
least thirty days notice in writin.
to the secretary of his intention
to sell the same, and upon re
cen pit of such notice the Board oI
Directors shall thereupon. for the
bentfit of the stockholders, have tn,
first option to purchase said stool k
at the price valent to any bona
fide offer by any person for the
same, and the Secretary shall I'M
mediately notify each stockholder
of the receipt of such notice and
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 case any stock
holder shall not desire to purchase
such interest, the same, or his righ.
thereto shall belong to the other
stockholders in the same proper
ton, and the foregoing notice and
option within Thirty 500 Days
shall be a 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
(3O) days from the date of such
notice to the secretary, shall for
ceit his right to purchase the same
Or any part thereof.
All stock certificates shall have
printed on their faces the follow
ng:
This certificate is issued and
leld 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
md secretary under seal Of the
No certificates shall
De issued until the stock evidenced
shall be fully paid, and no
new certificates shall be reissued
ior existing certificates until the
I'D certificates have been surren-
Tered and cancelled. When not
purchased by other stockholders as
lbove provided, certificates of
Itock may be transferred on the
under such terms and
as the bylaws shall
provide.
Article v.
The control conduct and man.
lgement of the property and bus
ness of this corporation shall be
rested in and exercised by a
Board Of Directors to be composed
# Three (3) Stockholders of this
a majority of whom
hall constitute a quorum for the
transaction of business. The
stockholders shall meet Immediate
y after the adoption Of this Char
er and shall elect the Company's
irst Board of Directors. and may
Idopt bylaws for the government
# the Corporation and it's Board
# Directors which bylaws may
'e amended at any annual me,
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
provisions of the bylaws.
The Board of Directors shall
lold office until the first Tuesday
lfter 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
corporation.
Ten (10) days dprior notice Of
uch elections shall be given by
he Secretary, who shall send such
lOtice to each stockholder by a 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
lied 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 5t
Untitled to east one vote for each
md every share Of stock held by
lin either in person or by proxy
md a majority Of the votes thus
asst shall elect the directors for
he ensuing year. II 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
directors as above provided, such
allure shah not dissolve this cor
pration, but the then existing
Board Of Directors shall continue
o 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
board Of Directors from any cause
whatever between the elections
hall be flied by the remaining
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