The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-29
ARTICLE V.

All the power Of said corporation shall
be exercised by and vested in a board Of
directors, composed of at least three (3l
stockholders. owning each at least one (1j
snare or stock OF said corporation said di
rectors to be elected at a general meeting
convened for the purpose on the 23rd OF
october in each year. In the event thai
me 23rd OF October in any one year shall
fall upona Sunday or legal holiday, the
election shall be held on the next day fol
lowing. Each share Of stock present o,
represented at such meeting shall be en-
titled to one vote. All shareholders shall
be notified OF the holding of the annua
meeting by mailing a written notice to pact
at his last known address ten (iO day,
prior to the date of such meeting SaiC
election shall be held at the office of thi,
corporation, under the supervision of the
board or directors. The stockholders re
be declared elected.
The board OF directors shall elect from
among their number a president and a vice
president. They shall also elect a secretary
treasurer, who may but however need not
be director or stakeholder majority
or the stockholders shall constitute a quo
rum Tor the transaction Of all business Va
cancies occurring in the board Of directors
shall be filled from the stockholders by the
remaining directors, whether a quorum re
main on the board or not
The board of directors shall elect or ap
point all other officers. agents. clerks or
employees. as they deem proper, and the
salaries of such officers and employees shall
be fixed by the board, with full power to
Increase or diminish the same at its plea s.
ure. Any director absent from the state
may appoint any shareholder 20 act as his
proxy at all directors meetings
Special meetings OF the stockholders nav
be called at any time when necessary, by
the president, or two shareholders OF the
corporation, after three days notice in writ
Ing. stating the object of such special meet.
ing.
All officers and members Of the board OF
directors shall serve until their successors
shall have been elected and qualified
The board OF directors shall have power
without reference to the shareholders OF the
company, to buy, sell and lease. to mortga ge
hypothecate and pledge all kinds Of prop
erty, whether movable of immovable, and
generally to exercise all OF the powers con
ferred on its board of directors by these
articles of Incorporation. Immediately upon
the completion Of the signing of this char
ter the original subscribers shall meet and
elect board of three directors to serve
until the 23rd day of October following
when the annual election shall be held.
ARTICLE vi.
No stakeholder shall ever be held liable
or responsible for the contracts or faults OF
this corporation in any further sum than
the unpaid balance due the corporation on
the shares owned by him. nor shall any
mere ln1ormal1ty In organization have the
effect OF rendering this charter null, or of
exposing a stakeholder to any liability be-
yond the amount due on his stock.
ARTICLE VII.
This act Of Incorporation may be amend
ed, altered or modified by a vote Of three
fourths Of the shares present or represented
at a general meeting Of the stockholders
convened for that purpose, after ten days
notice published In any daily newspaper in
this city.
ARTICLE VIII.
At the expiration Of this charter, or II
sooner dissolved, Its affairs shall be liqui-
dated by three commissioners elected by
the board Of directors, and said commits
sioners are hereby vested with full power