Thibodaux commercial journal. (Thibodaux, Lafourche Parish, La.) 191?-1959, 1911-01-18

of the following named persons: Arthur
A Scott, president and General Manager
p. Emile Scott, Vice PRESIDENT, l.. AL
phonse Scott, Secretary and Treasurer
Frank T. Scott and Andrew Scott.
ARTICLE 8.
The Board of Directors shall have the
power generally to supervise the business
of the corporation, to adopt general rules
| for its conduct; to contract for the pur
chase of whatever may be required for
| the opera lion of the property of the cor
poration in q proper manner; to hire, EN-
ploy and engage such oyerseers. managers
or superintendents as may be thought ne
cessary, and to fix their salaries and com.
pensation; to mortgage or pledge the
property and effects of the corporation
by majority vote of the Board.
ARTICLE z
Three mem bers of the soard shall con.
stitute a quorum for the transaction oi
| business of the corporation.
No person shall be qualified to be a
member of the Board of Directors unless
| he shall own at least one share of the ca
| pital stock of the corporation
ARTICLE s
| The president shall nave general super
vision of the administrative affairs O1
| the corporation; he shall preside at all
meetings of the Board and shall deal di-
rectly with the executive officers of the
corporation: he shall be the manager oil
| the finances and of the improvements tC
/ the property of the corporation. He is
vested with the power granted by a ma.
jority vote of the Board of Directors to
! borrow money for the business of the cor.
poration; to make and subscribe notes in
representation of the loans SO contracted
| to endorse notes for discount, and shall
have full power to pledge any personal
property OF the corporation, as set forth
in previous Article of this charter.
ARTICLE 3.
The Treasurer shall be the custodian OF
the funds OF the corporation, which funds
| shall be deposited in such bank or banks
as may be decided on by the Board
| The checks to be drawn on the treas
urer shall be signed by the president OF
| the Vice PRESIDENT and by the Secretary
ARTICLE 10.
| The Vice president shall exercise the
| functions of the Presldtnt in case of the
latter's inability to act or absence from
the parish.
ARTICLE IL.
The Secretary shall have charge OF
the books OF the corporation, in which
shall be kept the accounts of the reve
nues and expenditures of the business
| These books and records shall bt
subject to the inspection of any mem
Der of the Board of Directors.
ARTICLE II.
NJ stakeholder shall be liable or res
ponslble for any sum beyond the
amount of his subscription. and hi
snail be subject to no further call ant
shall i'll no way be liable for any of the
debts of the corporation.
All creditors must look to the cor
pOrate property for their demands
nor shall any mere infOrmality of or
ganiZation have the effect of render
| ing this charter null, or of expOSinl
any stockhOlder to any liability be
yond the amount of his subscription
ARTICLE Is.
This charter may be changed, mOdi
fled or amended, OF tins corporation
may be dissolved by the stockhold.r!
at general meeting called for tha
purpose, with the assent of thre,
fourths of the stock present or repre-
sented at such meeting. Ten days
notice of such meeting shall be given
either by mailing same to the las
known address of each stakeholder, O.
by publication in a newspaper publish
ed in the parish of Lafourche. Sait
notices shall concisely state the OBJ
iects and purposes for which the meet
ing is called, and, if by publication
shall be published for ten consecutive
days Immediately preceding said meet
ing.
ARTICLE IA.
Any changes proposed OF made witt
reference to the increase OF decreaS