St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-05-27

ity or right to sell or otherwise dis
pose of his stock in whole or in part
without first giving the board of di-
rectors ten (10) days written notice
of his intention or desire to, dispose
of any of his stock or a part there
of, and allowing the board of direc-
tors or in its default, any stockhold-
er, the first opportunity of purchas-
ing the stock.
| This corporation shall commence
doing business as soon as ten thous-
and ($10,O0O.00) dollars of its CAPT.
tai stock shall have been subscribed
for and paid in, as above provided.
ARTICLE ".
The corporate powers of this cor
poration shall be vested in and eX-
ercised by a board of directors,
which shall consist of four (4) stock
holders, a majority of whom shall
constitute a quorum for the trans
action of business. Said directors
shall be elected annually from among
the stockholders ON the first Monday
tof June of each year, commencing
i'll June, 1912.
Notice of such election shall be
given by two t2) publications in a
newspaper published in the town of
| Covington, La, within fifteen (15)
| days Immediately preceding said
election.
At said election, and At all other
meetings of the stockholders, the
voting shall be by ballot, and each
share of stock shall be entitled to
one vote by the owner in person, or
by written proxy.
Within one week Of their election
as above provided for, the board of
directors shall elect from among
| their number a president, vice
president and a secretary and treas
urer, provided one person may hold
| the Office of both secretary and treas
| urer, and ALI Of said officers and di-
rectors shall hold their respective Of
fees for a period of one Cd year
from the date of their election, or
| until their successors are elected. But
| the failure to hold an annual election,
or to elect the officers as above pro-
vided for, shall not result in dis
solution of this corporation, but the
then board of directors and officers
shall hold their Offices until their
successors are duly elected.
Any vacancies occurring in said
| board of directors shall be filled by
the remaining members of the board,
| for the unexpired term, at meeting
| called for that purpose after five Is,
days notice in writing, sent by mail
| to said directors at their last known
residence.
| The said board of directors shall
1 have the power to make all bylaw,
rules and regulations for the proper
management and conduct of the af-
fairs of this corporation, and to
change, alter, abolish and amend
same at pleasure. and shall have AMI
exercise all the powers conferred ny
law on this corporation, and as set
forth generally above.
| The said board of directors may
also delegate any of said powers in
| the transaction of the business OF
this corporation to committees OF
their own body or to the officers ana
agents of this corporation.
| The first board of directors OF TINS
corporation are hereby declarei 10
be, B. T. Topmer, August Stef, isaac
Teomer and Alphonse Stef, WITH
Ii. r, Toomer as president, August
jStef as vice president, and Isaac
IToomer as secretary-treasurer, VINO
Ishal hold their respective Of
fees until the first Monday in June,
l1912, or until their successors are
elected.
| It shall be the duty of the presi-
ldent of this corporation, or in the
event of his inability to act, the vice
president, to call meeting OF the
board of directors or of the stocR
holders thereof on the written re
quest to that effect signed by two OF
more directors, or upon the writer
request to that effect of twenty pei
cent of the capital stock.
ARTICLE v,
This corporation may be dissolved
} by a vote of three-fourths OF tn
, capital stock thereof, at genera
| meeting convened for that purpos
F., after forty days advertisement in
newspaper published in the town
Covington, St. Tammany Parish, La
| Immediately preceding said meetln
: and written notices of the objects
: tsaid meeting sent to each staekholde
S thirty 800 days Immediately prlo
e to said meetiaz, at his last know
: place of residence.
4 = Whenever this corporation is dis
: lsolved, whether by limitation
t fotherwise, it's affairs shall be iqu
y dated by three liquidating commits
d sioners to be elected at genera
t meeting. and in case of death or IL
S ability of any of the said comml'
S sioners, the surviving commissions
O shall appoint successor ana u
IS gether they shall continue said llqu
dation to it's termination.
3 ARTICLE vi.
is This charter may be changed, a
II tered or. amended, and the capit
N stock increased or decreased, by
vote of two-thirds of the capt.
e, stock issued at general meetlr
e called for that purpose, after thir
le (3O) days prior notice in Wrltl1
N having been sent to each stockhold
" at his last known residence, stati1
the object of said meeting and for
(40) days advertisement in new
ipaper published in the town OF 20
u ington, st. Tammany parish, Louis
ea ana. in which the object of the NEE
" ing is also stated.
Gu ARTICLE VII,
=, Nv No stakeholder shall be he
81 liable or responsible FOR the co
'e tracts or faults of this corporate
u. in any further sum than the nnpa
., balance due the company on sEal
US of stock owned by him. nor shall
mere informality in the organ1zatl
le herein have the effect of renderl
H. this charter null, Or of exposing a
81 stockho1der to any liability beyo
VI the unpaid balance due on his sto