St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1912-07-20

/
/. books of said company, at its Office
t on the surrender of tie certificate.
No stockholder shall have authori
ty or right to sell or otherwise dis
pose Of his stock in whole or part
without first giving the Board o
Dill ectors ten (1O) days writer
notice of his intention or desire K
dispose Of any Of his stock or par
thereof, and allowing the Board Of
Dir ctors or in its default, any stock
holder, the first opportunity of pur'
chasing the stock.
This corporation shall commence
doing business as soon as Three Hun
dred Thousand and No-One Hun
dredths ($3OO,O00.0O) Dollars Of it,
capital stock shall have been sub
scribed for, as above provided.
ARTICLE Nv.
The corporate powers Of this cor
p0ration shall be vested in and ex-
ercised by q Board of Directors,
which shall consist of three (3)
stockholdera: majority Of whom
shall constitute q quorum for the
transaction of business. Said Direct.
tors shall be elected annually from
among the stockholders on the LIST
day of January of each year. COM
mencing on the LIST day Of January,
1913.
Notice of such election shall be
given by two CD publications in
newspaper published in st. Tam
many parish, 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 ten days Of their election
as above provided for the Board Of
Directors shall elect from among
their number q President, . Vice
President. and a Secretary and
Treasurer, provided one person may
hold the Office of both Secretary and
Treasurer, and all of said officers
and directors shall hold their re-
spective Offices for period Of one
G) year from the date OF their cleo.
ton, or until their successors are
elected. But the failure to hold AT
annual election, or to elect the OF
ficers as provided for, shall not re
suit in dissolution Of this corpora
ton but the then Board of Direct.
ors and officers shall hold their Offices
until their successors are dull,
elected.
Any vacancies occurring in said
Board of Directors shall be filled by
the remaining members CT the Board
for the unexpired term, at a meet
ing called for that purpose, after five
60 days notice in writing. sent b:
mail to said directors at their las!
known residence.
The said Board Of Directors shall
have the power to make all bylaws
rules and regulations for the prope:
management and conduct of the af
fairs of this corporation, and t.
change; alter, abolish and amend
same at pleasure. and shall have ana ]
exercise all the powers conferred BY !
law on this corporation, and as set
forth generally above.
The said Board of Directors Ma.
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 and
agents Of this corporation.
The first Board of Directors of
this corporation are hereby declared
to be William L. Houlton, Fred A.
Lewis and Richard G. Latta, with
William L. Houlton as president.
Richard G.. Latta as vice president.
NJ A T -
urer, who shall hold their respective
offices until the first day Of January
1913, or until Successes are duly
elected snd qualified.
ARTICLE v.
This corporation may be dissolved
by a vote of three-fourths Of the cap
ital stock thereof present at a gen
eral meeting convent. for that rur-
pose after forty days advertisement
In newspaper published in st. Tam
many parish, La, Immediately pre-
ceding said meeting and written
notices of the objects of said meet
ing sent to each stockholder thirty
500 days Immediately prior to said
meeting, at his last known place of
residence.
Whenever this corporation il dis
solved, whether by liquidation or
otherwise, it affairs shall be liqui.
dated by two dquidating commission.
ers to be elected at a general meet
ing, and in case of death or llisabili.
|ty CT any of said commissioners, the
surviving commissioner shall appoint
q successor from among the stock
holders. and together they shall con.
tinue said liquidation to its termi
nation.
ARTICLE vi.
This charter may be changed, al
tered or amended, and the :arita
stock increased or decrease. b.
vote of two-thirds of the ea.:.s
stock issued, at q general meeting
called for that purpose, after thirty
s3O) days prior notice in writing
having been sent to each stakeholder
at his last known residence, stating
the object of said meeting, and forty
(4O) days advertisement in a news.
paper published in St. Tammany
parish. Louisiana, in which the oh.
.ect OF the meeting is also stated.
ARTICLE VII.
No stakeholder shall be held liable
or responsible for the contracts o.
faults OF this corporation in any fur.
Their sum than the unpaid balance
due the company on shares Of stock
owned by him, nor shall any mere
informality in the organization here
In have the effect of rendering this
charter null, or of exposing any
stakeholder to any liability beyonf
the unpaid balance due on his stock
| Thus done and passed in my Office
in the town OF Covington, Parish OF
|St. Tammany, State of Louisiana, on