New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-10-22

the Board of Directors III payment
tof property or things of value re
ceived nr purchased by said cor
poration. or for labor done or
money actually received.
The Corporation may commence
the TRANSACTION of business under
It's corporate name "a soon as
Three Thousand (S3 Oo) Dol
lars of is capital stock shall have
been subscribed for Certificates
of stock fully paid and n9n-aS-
sessable shall be ISSUED to each
subscriber to the amount paid by
him therefor.
In case any stakeholder desires
to sell his stock be shall give at
least thirty days notice III writing
to the secretary of his intention
to sell the same, and upon r.
ceipt Of such notice the Board OF
i Directors shall thereupon. for the
bentfit of.ihe stockholders have the
first option to purchase said stock
at the price equ valcnt to any bona
fide offer by any person for the
same. and the Secretary shall m
mediately notify earn stakeholder
of the receipt of such notice and
each stakeholder 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 purchase
such interest, the same, or his RICH;
thereto shall belong to the other
stockholders IN the same proper
ton, and the foregoing notice and
option within Thirty (30) Days
shall be a condition precedent t.
the transfer of any stock on tbs
books of the Corporation.
a failure of any stakeholder t.
exercise his option within thirty
800 days from the date OF such
notice to the secretary, shall for
felt his right to purchase the same
or any part thereof.
All stock certificates 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 tht
corporation. No certificates shall
be issued until the stock evidenced
thereby shall be fully paid, and n
new certificates shah be reissued
for existing certificates until the
old certificates have been surren-
dered 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
agement of the property and bus
mess of this corporation shall be
vested in and exercised by d
Board of Directors to be composed
of Three CD Stockholders of this
corporation. a majority of whom
shall constitute quorum for the
transaction of business. The
stockholders shall meet immediate
ly after the adoption of this Char
ter and shall elect the Company :
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 NEE
ing by a majority vote of all the
the stock issued, or at any spe.
cial meeting duly called for the
purpose 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.
Ten 1O) days dprior notice of
such elections shall be given by
the Secretary, who shall send such
notice to each stakeholder by a 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.
Tho DirectOrS tbuc chocan cha |