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


ars Of It's capital stock shall have
been subscribed for. Certificates
If stock fully paid and mon-as-
,cssabIc shal be issued to each
TO the anA1nt paid by
lim therefor.
In ease any stakeholder desires
% sell his stock he shall give at
east thirty days notice III writing
10 the secretary of hls intention
o sell The same, and upon re-
,eipt Of such notice the Board OF
Directors shall thcreupon. for the
,entfit of the stockholders have the
irst option to purchase said stock k
IT the price equ, valent to any bona
'ide offer by any person for the
same. and the Secretary shall I'M
notify each stockholder
# the receipt of such notice and
Zach stakeholder shall thereupon
nave the right to purchase such
IN interest in said stock as is rep
'escnted by the proportion hls
stock bears to the capital stock
hen issued. and in case any stock
loIder shall not desire to purchase
,uch interest, the same, or hls righ.
hereto shall belong to the other
stockholders IN the same proper
ION, and the foregoing notice and
,ption within Thirty 500 Days
,hall be a condition precedent to
he transfer of any stock Oh the
BOOKS Of the Corporation.
A failure Of any stakeholder to
'xercise his option within thirty
900 days from the date of such
lotice to the secretary, shall for
'eit his right to purchase the same
,r any part thereof.
All stock ccrtif Gates shall have
on their faces the follow
ng:
This certificate is issued and
leld subject to all conditions and
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 shal
be issued until the stock evidenced
shall be fully paid, and no
new certificates shall be reissued
Tor existing certificates until the
bid certifica es have been yurren-
lered and cancelled. When not
purchased by other stockholders as
above provided, certificates OF
stock may be transferred on the
company under such terms and
as tho bylaws shall
provide.
Article v.
The control conduct and man
lgement Of the property and bus
ness Of this corporation shall be
vested in and exercised by a
Board Of Directors to be composed
IF Three (3) Stockholders of this
corporation, a majority Of whom
shall constitute a quorum for the
Of business. The
stockholders shall meet immediate.
y after the adoption Of this Char.
ter and shall elect the Company :
FIRST Board Of Directors. and may
adopt bylaws for the government
If the Corporation and its Board
If Directors which bylaws may
be amended at any annual NEE
ing by a majority vote OF all the
The stock issued, or at any spe.
cial meeting duly called for the
in 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 all such
elections shall be by ballot, and
shall be held at the Office Of the
corporation.
Ton (l0) days dprior notice ol
such elections shall be given by
the Secretary, who shall send such
notice 40 each stockholder by a no.
tice mailed TO his address as showr
by the books of this corporation
may vote in person
or by proxy duly executed and
filed with the Secretary.
The Directors thus chosen shal
serve and continue in office nuti
their successors shall be electet
and qualified. At each election
each of the stockholders shall b'
entitled to cast one vote for eacl
and every share Of stock held b,
him either in person or by prox!
and majority of the votes thu
cast shall elect the directors fol
the ensuing year. IL at any tim,
there should be n failure to hol,
a Stockholders 3 meeting to elect di
rectors, or if at such meeting'
there should be a failure toN,lec
directors as above provided, sucl
failure shall not dissolve this cor
poration, but the then existins
Board Of Directors shall continu,
to hold office; and as soon as ma,
be practical thereafter. anothe
election may be held. whereof tel
(10) days, prior notice shall be CIV
en- by the Secretary as above.
Any vacancy occurring in th
Board Of Directors from any caus
whatever between the election
shall be fired 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
tion and to issue notes Or bond
under the said Mortgage. prnvid