New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-12-10

lars OF It's capital stock shall hav
been subscribed for. Certificate
Of stock fully paid and mon-as
sessabIe shall be issued to eacl
subscriber to the amount paid b,
him therefor.
In case any stakeholder desire
TO sell his stock he shall give u
least thirty days notice in writn,
, TO the secretary of his intention
ITO sell he same, and upon re
ceIpt Of Sucn notice the Board o.
Directors shall thercupon for tn,
bentlit of the sockboJ oJdcrs have the
first option to purchase said stoc i
at dhc price equ vaIent to any bona
fide offer by any person for tn,
same, and the Secretary shall i'm
ucdlately notify each stockholdel
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 cap tai stock
then issued, and in case any stock
loider shall not desire to purchase
such interest, the same, or his righ,
thereto shall belong to the other
stockholders n the same proper
tion, and the foregoing notice and
option within Thirty 800 Days
shall be "A c1ndr,don precedent to
Che transfer Of any stock on the
BOOKS Of the Corporation.
A failure of any stakeholder to
exercise his option within thirty
800 days from the date of such
notice to the secretary, shall for
Geit his right to purchase the same
or any part thereof.
All stock ceItif 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 shall be relssued
Tor existing certificates until the
old certlfica! es have been surren-
1ered and cancelled. When not
by other stockholders as
lbove provided, certificates of
stock may be transferred on the
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 al
Board of Directors to be composed
Of Three (3) Stockholders of this
corporation, a majority of whom
,halE constitute quorum for the
of business. The
stockholders shall meet immediate
y after the adoption Of this Char
.er and shall elect the Company's
,lrst Board Of Directors. and may
,dopt bylaws for the government
If the Corporation and its Board
'f Directors which bylaws may
De amended at any annual me,
ng by majority vote OF all the
he stock issued, or at any spe-
,ial meeting duly called for the |
purpose in accordance with the
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 ali 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
iotice 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
led 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 bf
TO east one vote for each
nd every share Of stock held by
i'm either in person or by proxy
nd majority of the votes thus /.
ast shall elect the directors for
ne ensuing year. If at any time
here should be failure TO hold
stoc kholder' 8 meeting to elect di-
ectors. or if at such meetings 4
here should be failure to elect /,
irectors as above provided, such
allure shall not dissolve this cor 4
oration, but the then existing
'oard Of Directors shall continue |,
, hold office; and as soon as may
e practical thereafter, another II
lection may be held. whereof ten !
l0) days, prior notice shall be Civ
n by the Secretary as above.
Any vacancy occurring in the
oard Of Directors from any cause
'hatever between the elections
rail- be flied by the remaining
directors. Said Board Of Direc-
'rs without being thereunto spec
lily authorized by the stocknold-
= shall have full power 10 mort ]
age the property of the fpofa.
on and to issue notes Or honfs
nder the sad Mortgage. provid-