The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1912-06-04
adopted by the State of Louisiana.
ARTICLE V,

ALI of the powers of this corpora.
ton shall be vested in and exercised
by a Board of Directors, composed of
not fewer than Seven CD nor more
than Eleven (11) citizens of the State
Of Louisiana, to be elected annually
on the 18th day of September, or if
same shall be a holiday, on the next
business day preceding. four of whom
shall constitute a quorum for the
transaction Of business, and a major
ity of those present shall control.
All elections shall be made by bal
lot and shall be held and conducted
at the office of the corporation, under
such rules and regulations as may be
established by the Board of Direct
ors. Notice thereof shall be given
by the Secretary of the corporation
by publication On Saturday Of each
week for six weeks prior thereto in
a newspaper published in the English
language in the City of New Orleans,
State Of Louisiana.
At all elections and all corporate
meetings every policy holder, or
member, of the corporation, whose
policy is not lapsed on the late
thereof shall be entitled to one vote,
to be cast in person, or by proxy
written or printed and signed by the
member. A majority Of tn votes
cast shall elect. Any vacancy occur
ring among the Directors of this cor
poration by death, resignation or
otherwise, shall be filled by election,
Tor the unexpired term, by the re-
naming Directors. Failure to elect
naming directors. Failure to elect di-
rectors on date above specified shall
not dissolve this corporation nor i'm
pair its existence or management, but
the Directors then in office shall re-
main in office until their successors
have been duly elected and qualified.
The Board of Directors may. from
time to time, name and appoint such
officers, agents and employees as it
may deem necessary for tn. purpose
of conducting the business of this
corporation. 1t shall have authority
to fix and define the power, duties
and salaries thereof, and each Off
Ger, agent and employee, shall hold
Office or employment at the pleasure
of said Board. 1t shall elect from
amongst it's own members, or from
the policyholders of the corporation
not members of the Board, a Presi-
dent, not exceeding three 60 Vice
Presidents, a Secretary and Treas
urer.
The Board of Directors may make
or establish, as well as alter and
amend, all bylaws, rules and regula-
tons deemed proper for the conduct
and management of the business and
affairs of this corporations; it shall
have the power to borrow and lend
money; to acquire real estate for the
purposes of its business; to buy and
sell all species of real and per
sonal property. or which the corpora
ton may have a mortgage or lien, or
which may owe it money, and, in the
case of real estate, to hold same for
such time as may be necessary to
properly and advantageously dispose
thereof, and generally to do any and
all things reasonable, convenient and
necessary for the proper carrying out
of the business and affairs of this
corporation.
The present Board of Directors and
officers shall hold Office until the 18th
day of September 1912, or until their
successors shall have been duly elec-
ted and qualified.
ARTICLE vi.
Whenever this corporation may be
dissolved, whether by Limitation or
otherwise, it's affairs shall be liqui-
dated by two commissioners, to be
from among the members
of the corporation. at a general meet
ing of the members convened for
such purpose, notice of which shall
have been given in the time and man
ner therein provided for members
meetings, and a majority of the votes
cast shall be requisite to elect. Said
commissioners shall remain In Office
until the affairs of the said corpora
ton shall be liquidated. In case Of
their inability or the inability of eth
er to continue, by reason of death, /
or otherwise, the vacan-
cy shall be filled by the election Of
. new commissioner, in the same
manner herein provided for the cleo
ton of the original liquidation com.
ARTICLE VII.
This act Of Incorporation may be
modified, amended, changed or alter
ed, or this corporation may be dis
solved with the assent of three quar-
ters Of the members, convened for
such purpose and after notice thereof
shall have been given in the time and
manner herein provided for elections
and members meetings, provided that
4 copy of such notice shall be mail
ed to the last known Post Office ad-
dress Of each member, at least for
~ days prior to such meeting.
ARTICLE VIII. i
Every person who shall be or be-
come a policyholder of this company
shall be a member thereof during the
time such policy is duly in force and
no longer. Every person who shall
become a member Of this corporation
BY effecting insurance therein shall,
The first time such insurance is at.
and before receiving the poll
~ therefor pay the rates required
by the company thereon. No MEM
Der shall be liable for the contracts,
losses or expenses OF this cor
poration beyond the amount of pre-