St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1910-04-16

reetors fifteen M5) days notice of his
intention or desire to dispose Of any
OF his stock or part thereof, and al
lowing the Board of Directors, or in
It's default, any stockholder, the first
opportunity of purchasing the stock.
after which fifteen days, the said
STOCK may be sold in open market. The
STOCK OF said corporation may be trans
ferfed under the above conditions, pro-
Vlded such transfer be made on the
BOOKS of said corporation at it's office
at CoVlngton, in the Parish of st. Tam
many, state Of Louisiana. and on sur
render of the certificate therefor; the
board OF Directors shall have the right
10 determine how much stock shall be
issued
ARTICLE VII.
Inc business affairs and corporate
powers of this corporation shall be
transacted by Board of Directors to
De composed of four 90 stockholders.
NO person shall be eligible as director
or officer as herein provided in this
this corporation.
The members of the Board of Di-
rectors shall be elected by majority
OF the votes of the stockholders cast
at meeting to be held for that pur-
pose each year. The following named
persons shall constitute the first Board
Of Directors, viz: Hardy H. Smith, AL
fred V. Smith, Archie r. Smith, Bar
vi
Said Board shall continue in office
until April, 1911, on the first Monday
thereof, or until their successors are
elected. On which date, and thereafter
annually, an election for directors shall
be held at the Office of the corporation
at Covlngton, in the Parish of ST Tam
many, State of Louisiana, after fifteen
llo) days notice thereof shall have
been given by publication in one of the
newspapers published in, the Parish of
81. Tammany, by two (2) publications
thereof during chat time.
failure to elect Directors on the
date above mentioned shall not dissolve
this corporation, but the existing Board
or Directors shall continue to hold Of
nee, and another election shall be held
as soon thereafter as practicable, of
which notice shall be given in the
manner already provided for notice of
meetings.
Every Board of Directors shall elect
a President, a Vice-President and
treasurer, who shall also be the Secre-
tary, from among their own number.
The officers as herein created shall
1 be FILED for the ensuing year as fol-
President. A. ". Smith; Secretary
treasurer, A. r. Smith.
ARTICLE VIII.
ANY vacancy occurring in the Board
OF directors, from any cause, shall be
filled by the remaining members of the
BOARD Of Directors, from among the
stockholders of the corporation; three
W members of the Board shall con-
stitute quorum thereof, unless other
wise provided by the Board of Direc-
tors.
The Board Of Directors shall make
such bylaws, rules and regulations as
shey think necessary, and change and
alter the same at pleasure. Name and
appoint other officers and employees,
and fix their salaries, term of service,
with the right to dismiss them at said
Boards pleasure. And said Board
shall have the right to determine and
eral officers herein provided for, and
ascribe other duties to said officers as
VIII best subserve the interest and well
fare of the corporation.
They shall also have the power to
sell, convey, mortgage, pledge, lease,
SUP lease and purchase property, NOV
able, tmmovable, personal and mixed; |
borrow and lend money, and issue notes |
and bonds, make contracts and to do |
all things which may be necessary to |
properly transact the business of this |
corporation. |
ARTICLE TX.
This act of Incorporation may be |
changed, modified or amended, or said |
corporation may be dissolved with the |
consent of majority of the amount |
of stock, present or represented at a |
general meeting of the stockholders |
Of said corporation, and convened for
vious notice of such meeting shall have
been given by advertisement in one of |
the newspapers published in the Par
ish of St. Tammany, by four publica-
lions during said time
Whenever this corporation is dis
solved, either by Limitation or from
any other cause, it's affairs shall be
liquidated under the superintendent
of three commissioners chosen for the
purpose from among the stockholders,
by majority in amount of the stock
holders, as above set forth in this
article In the event of the death or
inability to act of any one of said
commissioners, the survivors shall con-
tinue to act
ARTICLE X.
NO stockholder of this corporation
shall ever be held liable or RESPONSE
Bile for the contracts or faults thereof,
In any further sum than the unpaid
balance due the corporation on the
shares subscribed for or owned by
him, nor shall any informaiity in or
ganization have. the effect of rendering
TINS charter null, or exposing a stock
holder to any liability beyond the un-
paid balance. If any, of his stock.
THUS DONE AND PASSED in my
notarial office, in the Town of Coving-
ton. Parish of st. Tammany, State of
herein first above written, in the pres
enee Of AUGUST cOId and e. ROU-
competent witnesses of
lawful age, and residents of said town,
who hereunto sign their names, to-
gether with said parties and me, No
tary, after reading of the whole,
Witnesses:
(signed) AUGUST coIG.
(Signed) G. BOUDOUSQUIE.
(Signed HARDY H. SMITH.
tsigned) A. v. SMITH, 40 o. shares Sares.
d |