The herald. [volume] (New Orleans, La.) 1905-1953, 1911-06-22
ARTICLE V.

All the power of said corporation shall
De exercised by and vested in a board of
directors, composed of at least three (3)
stockholders, owning each at least one (ll
snare or stock of said corporation: said d.
rectorS TO be elected at a general meeting
convened for the purpose on the 23rd of
october in each year. In the event that
the 23rd of October in any one wear shall
fall upOna Sunday or legal holiday. the
election shall be held on the next day fol-
lowing. Each share Of stock present or
represented at such meeting shall be en-
titled to one vote. All shareholders shall
be notified Of the holding of the annual
meeting by mailing a written notice to each
at his last known address ten (1OD DAYS
prior to the date of such meeting. Said
election shall be held at the office of this
corporation, under the supervision of the
board of directors. The stockholders re-
ceiving a majority of the votes cast shall
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 a director or stakeholder. A majority
OF the stockholders shall constitute uuO-
rum for 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 it's pleas
ure. Any director absent from the state
may appoint any shareholder to 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 mortgage
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
mere informallty 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 incorpora ton may be amend
ed, altered or modified by a vote of three
fOurths of the shares present or represented
at 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