The herald. [volume] (New Orleans, La.) 1905-1953, 1911-07-06
ARTICLE v.

All the power OF said corporation shall
o. exercised by and vested in a board q
directors, composed OF at least three "a
s,oChhoIuers, owning each at least one n
rn nate Oh STOCK or said corporation said di
IecIors 10 be elected at a general meetinc
convened Tor the purpose on the o3rd "a
octoDer IN each year. In the event thai
s snE 25rd or October in any one year shall
erection shall be held on the next dsy FOL
lowing. Each share OF stock present or
| represented at such meeting shall no on
utled 10 one vote All shareholders shall
De notlhed or the holding OF the animal
meeting by mailing a written notice to a. ch
at Ms last known address ten (1Ol DAYS
| prior to the date OF such meeting Sail
ele N, snail be held at the office of this
board or directOrss The stockboIders re-
eeElng a majority Of the votes cast shall
be declared elected '""'
lac board Of directors shall elect from
annonS Iheir number president and a vice
president They shall also elect a secretar,-
treasurer, who may but however need NO,
oe director or stakeholder. majority
~ III .ne stockholders shall constitute a quo
rum Ior the transaction Of all business Va
canGies occurring In the board of directors
shall De hlled from the stockholders INV tbe
remaining directors, whether a Quorum re-
main on the board or not
The board Of directors shall elect mr. m
point all other officers. agents, clerks or
employees, as they deem proper. and rho
salaries ga OF such officers and employees shall
incraaea Dy une BOARD; with full power to
ure. any director absent from the state
may appoint any shareholder to act as his
proxy at all directors meetings
SpeTia, meetings or the stockholders NAV
De called at any time when necessary Nv
tne president or two shareholders OF the
corporation, after three days notice in writ.
ing ing stating the object of such special meet
:. All Officers and members Of the board Of
directors shall serve until their successors
snail have been elected and qualified.
Inc board OF directors shall have power
without reference to the shareholders OF tho
company, to buy. sell and lease to mortga %
nypothecate and pledge all kinds of prom
erty, whether movable of immoyable. and
generally to exercise all Of the powers CON
ferred on its board of directors by those
articles OF Incorporation. Immediately upon
the completion OF the signing of this char
ter the original subscribers shall meet and |
until the 23rd day of October foIIowins
when the annual election shall be held.
ARTICLE VI.
No stakeholder shall ever he 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 informality in organization have the
erect or rendering this charter null or of |
exposing stakeholder to any liability he
Eond the amount due on his stock.
ARTICLE VII.
This act Of Incorporation NAV be amend
ID, altered or modified by a vote of three
ourths OF the shares present or represented
It a general meeting of the stockholders
onyened for that purpose, after ten days
his city.
ARTICLE VIII N
Az the expiration OF this charter, or IL
ooner dissolved, its affairs shall he Iioui-
ated by three commissioners elected by
he board of directors, and said commits
toner's are hereby vested with full poyer