The herald. [volume] (New Orleans, La.) 1905-1953, 1911-08-24

his name on the books Of the corporation,
to be cast in. person or by proxy, and the
ma iority of the votes cast shall elect. The
Board Of Directors shall have the power to
fill all vacancies that may occur on the
board.
The failure to elect directors on the date
above specified shall not dissolve the cor
poration, but the directors then in office
shall remain in office until their successors
are elected. Due notice Of another election
shall be given as above provided, and such
notices of election shall continue TO be given
until the election Is held.
A majority of the directors shall cOnsti-
business. At its first meeting following
each annual election, the Board OF Direc-
tors shall elect a President, Vice President.
Secretary Treasurer, and such other Of
ticers as it shall deem necessary.
The Board of Directors shall have power,
in its discretion, to unite two or more Of
fees, and to confer the same upon one per
son.
The Board of Directors may make and
establish, as well as alter and amend, any
and all bylaws, rules and regulations neceS-
Sary and proper for the support and man
agement of the business and affairs OF the
corporation, not Inconsistent with its char.
ter.
The Board OF Directors shall also have
full power and authority to borrow money
through the resident or some other duly
mortgages, issue notes, bonds or other obi
cations; issue commercial reports and com.
mercial ratings and generally, to do things
reasonable and necessary for the proper
carrying on Of the business Of the corpora
tiOn. and also to issue and deliver full-paid
shares of stock. or bonds, or obligations OF
said corporation in payment Of labor, or
money borrowed, or property, or rights act
ually received by the corporation.
Any member of the Board Of Directors
who may be absent from the dOmicile OF
by sickness from attending, may give a writ
ten proxy to any other member OF said
Board OF Directors 10 represent him In all
matters at any meeting Of the Board Of
Directors, whether general or special
ARTICLE VI.
Whenever this corporation may be dis
solved either by limitation or by any other
cause whatever, its affairs shall be liquidat
ed by three commissioners. TO be appointed
at general meeting Of the stockholders
for the purpose of liquidating, as hereinafter
provided each share being entitled 10 one
vote in person or by proxy.
Said commissioners shall remain in of.
flee until the affairs Of said corporation
shall have been fully settled and liquidated
and shall have full authority and power
TO transfer and give title to all the assets
and property OF the corporation.
In case Of the death disability or rcsig.
nation OF one or more OF said commission
FRS, the vacancy shall be filed by election
bv the surviving commissioners or commits
Sioner.
Inc StOckhOlderS are especially empOw-
cred by three-iOurthS vote Of the entire
stock, cast at a meeting called for that |
purpose TO sell the entire assets Of this |
corporation. either for cash or for stocks |
in some other corporation.
Before any stakeholder shall dispose Of
his stock to any one not a stakeholder in
his corporation, he shall Offer same TO the |
Board Of Directors of this corporation !
which is authorized to purchase the stock |
Tor the corporation, provided the stock shall |
e Ia Ia e., .lat .
,fer, and the sale shall be effected at the /
book value of the stock