New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1910-10-29

the Board of Directors in payment
: of property or things of value re
ceived or purchased by said cor
poration, or for labor done OF
; money actually received.
The Corporation may commence
the transaction of business under
its corporate name as SOON as
Three Thousand $3,00O0O) Dol
lars Of its capital stock shall have
been subscribed for Certificates
Of stock fully paid and non-as-
,sessable shall be ISSUED to each
subscriber to the amount pau d by
him therefor.
In ease any stakeholder desires
to sell his stock he shall give at
least thirty days notice in writing
to the secretary of his intention
to sell the same, and upon re-
eelpt of such notice the Board of
Directors shall thereupon. for the
bentfit of the stockholders have the
first option to purchase said stock
at the price equivalent to any bona
fide offer by any person f0r the
same. and the Secretary shall i'm
mediately notify each stakeholder
of the receipt of such notice and
each stakeholder shall thercup0n
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 500 Days
shall be 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
600 days from the date of such
notice to the secretary, shall for
felt his right to purchase the same
or any part thereof.
ALI 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 the
corporation. No certificates shall
be issued until the stock evidenced
thereby shall be fully paid, and no
new certificates shall be reissued
Tor 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 a
Board of Directors to be composed
Of Three (3) Stockholders of this
corporation, majority of whom
shall constitute quorum for the
of business. The
stockholders shall meet immediate
" after the adoption of this Char
ter and shall elect the Company's
first Board of Directors. and may t
adopt bylaws for the government a
If the Corporation and its Board
# Directors which bylaws may
De amended at any annual NEE
ng by a majority vote of all the
he stock issued, or at any spe-
nal 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 all such
lections shall be by ballot, and
hall be held at the office of the
corporation.
Ten (10) days dprior notice of
UGH elections shall be given by
he Secretary, who shall send such
office TO each stakeholder by a no.
ice mailed to his address as shown
y the books of this corporation.
tockholders may vote in person