St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-05-20

J 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 part there
of, and allowing the board of direc-
tors or in it's 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, 0DO.O0) dollars of its capi-
tai stock shall have been subscribed
for and paid in, as above provided.
ARTICLE w.
The corporate powers of this cor
poration shall be vested in and ex-
ercised by a board of directors,
which shall consist of four (49 stock
holders, a majority of whom shall
constitute a quorum for the trans
action of business. Said directors
shall be elected annually from amons
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 ~ publications i'll
newspaper published in the town of
| Covington, La, within fifteen (lal
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 president, a vice
president and secretary and treas
urer, provided one person may hold
the office of both secretary and treas
urer, and all of said officers and di-
rectors shall hold their respective Of
| fees for a period of one I'd year
| from the date of their election, or
until their successors are elected. But
| the failure to hold an annual election,
| OF: to elect the officers as above pro-
| yided 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 a meeting
called for that purpose after five 70 !,
DAYS notice in writing, sent by mail
Ito said directors at their last known
residence. =,
The said board of directors shall
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 anu
exercise all the powers conferred py
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 Oh
this corporation to committees OF
their own body or to the officers anu
agents of this corporation.
The first board of directors OF thss
corporation are hereby declarel &c
be. B. T. Toomer, August Stef, isaac
Teomer and Alphonse Stef, WITH
B. T. Toomer as president, Angus
, stef as vice president, and Isaac
Toomer as secretary-treasurer, Wh(
shall hold their respective OF
fees until the first Monday in June
1912. or until their successors ar
, elected.
! It shall be the duty OF the presl
> dent of this corporation, or IN tn
event of his inability to act, the We
president. to call a meeting OF tn.
hoard of directors or of the stocl
: holders thereof on the written re
I ouest to that effect signed by two
more directors, or upon the Wrlttel
: request to that effect of twenty pc
!; lcent of the capital stock.
d ARTICLE v.
d This corporation may be dissolve
e nv a vote of three-fourths OF tn
e capital stock thereof, at genera
d meeting convened for that purpos
!. after forty days advertisement IN
3. newspaper published in the town
t. Covington, St. Tammany PARISH La
d Immediately preceding said meetln
r land written notices of the objects
D. said meeting sent to each stockhoide
Is thirty 600 days Immediately PRO
lie TO said meeting, at his last know
r. place of residence. :.
ID Whenever this corporation is Oil
a. solved. whether by limitation
at otherwise, it's affairs shall be LOU
~ dated by three Hquidating comm
I'd sioners to be elected at a gener
at meeting. and in case of death or |
is ability of any of the said comml
as sioners, the surviving commissions
to shall appoint successor ana
es gether they shall continue SAID ilq'
dation to it's termination.
;s- ARTICLE. vi.
it's This charter may be changed, ;;
or tered or amended, and the oapl'
I'M stock increased or decreased, py
vote of two-thirds OF the capl
&c, stock issued at general meetl
ICE called for that purpose, after tnll
he s(3O) days prior notice IN Wrltl
on Having been sent to each stocKhoie
ry- at his last known residence, stati
the object of said meeting and 10
(4O) days advertisement in me-
paper published in the town OF q
~, ington, St. Tammany parish, Lou
Ecu ana, in which the object of the me
os ing is also stated.
RED ARTICLE VII.
aW No stakeholder shall be h
oe' liable or responsible for the
ls . tracts or faults of this corporal
u in any further sum than the UNI
10, balance due the company on sfa
Jus of stock owned by him. nor shall
mere informally in the organizat
ule herein have the effect of render
IN this charter null, or of exposing
usi- stakeholder to any liability hey
VI the unpaid balance due on his ST.
GIS, and nassau in O.