The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-07-26

Dul.ns The absence Of the PR, lent
be vice IRE lent >hall act ard preside.
SAID board shall continue III o nee Unit
The frs. Ilesd.y IN 'anual,. ill5, at
,hich latC, and thereafter, annually q
| ,nar CT d'rec,c", Shall be elected OF the
| .irat Tuesday Of January Of each vra', IN
| .e,s The same should he a holiday. tRen the
/, election shall 81 held On the n5Xt legal day
! thereafter.
/ Written notice Of such election address
| Ad to each stakeholder at his last known
| po.t-oflice address Shall he given at least
ten (lUJ days prior u said meeting; and
the board of directors shall appoint one
Or more stockholders to preside ut such
election az commissioners. IL the event
Of the failure Of any commissioner or COM
missiOners to attend, the president Shall ,
by appointment. fill the vacancy. Amy
failure from any cause whatever to elect
directors On The day named for that pur-
pose shall not dissolve the corporation:
but the trector5 then in office. as well a,
the officers of said company, shall hold
over until their successors are chosen.
In such event the president shall cause
another election to be held within thirty
t3Jl days, and shall give notice thereof as
hereinaboye provided.
At every election and meeting each
stakeholder shall be entitled to vote for
each share of stock registered in his
name and may vote by proxy.
The election of directors shall be by
ballot, and the majority in amount of
votes cast, each share Of stock voted upon
to be counted for one vote. shall elect the
person or persons for WHOM they have
been east.
After each election the board of direct
ors shall elect from their own number the
officers Of said company.
The officers of this company shall be
| -
SECRETARY and a TREASURER. The
offices OF Secretary and Trea Irer may be
held By one person.
ARTICLE "
The board Of directors shall have full
power TO I'LL vacancies ia their number.
caused. by death, resignation or otherwise,
from among the stockholders OF the cor
pOration.
The said board shall have full control OF
the property Of this company and shall 50
manage and Use same as in their
dl secretion they deem fit, and that is con-
sistent with the objects Of this company or
the welfare OF the same. with the authori-
ty to frame and adopt such bylaws, rules !
and regulations as they NAV deem neces- F.!
sary tor the conducting aud management
thereof; provided. same shall not conflict |
with this charter or with the laws of this /
State or OF the United States. !
ARTICLE
No stakeholder shall ever be held liable t
or responsible for the contracts or faults /
Of this corporation in any further sum ,
than the unpaid balance due to the com
pany on the shares og ned by him: nor shall f.,
any mere informally in the organization !
Of this company have the effect OF render. |
ng lis charter GN.- or of exposing any !
to any liability beyond the /
amount of his stock
ARTICLE VII.
The capital stock may he increased or
decreased in the manner and form pro-
Ilded for by the Constitution and laws of /
he State of Louisiana.
This charter may be changed. modified
y amended, or this corporation NAV be
dissolved at general meeting of the
tockholders convened for the purpose
With the assent Of three-fourths GA Of
he stock represented at such meeting, af-
er thirty days. notice Shall have been
,iven Of such meeting by advertisement
. one OF the newspapers published ia the
own of Franklin, Parish Of ST. Mary.
4ouSana.
ARTICLE VIII.
Ia case T dissolution or termination Of
ms corpOJ alton, either by iimita ton oft
harter OF from any other cause, the liqui-