The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1913-08-02

This corporation may commence business and
is authorized so to do as soon rs five thousand
dollars Of the capital stock have been subscribed
and paid for
ARTICLE FIVE.
No stock of this corporation shall be sold to
any other than stockholder therein until the
same has seea offered for sale to the stoekbold-
ers for "a period of ten days. allowing the stock
holders the privilege OF purchasing the same at
a fixed price. THIS ten days notice shall be con
sidered as given when written or printed uotice
Of the offer OF sale. naming the price. has been
posted for ten days in the office of the company
| at its domicile
No transfer of stock shall be binding until the
| same has been entered on the books of the COM
pany.
ARTICLE SIX.
| All the powers OF this corporation are hereby
vested in board of Directors. To consist of nine
stockholders. five OF whom shall constitute a
quorum for the transaction OF business aud
| their acts shall be valid corporate acts.
| The Board of Directors shall be elected by the
] stockholders annually at the annual meeting of
| the stockholders. which annual meeting shall be
| aeid on the second Tuesday of the month of
| April Of each aud every year, beginning with the
| gear l9l4. and the directors herein named and
their successors when elected shall hold office
| antil the election Of their SUCCESSORS The board
| of directors shall be elected by majority vote
Of the stockholders aud shall be by ballot each
| stockholder shall be- entitled to ar many voter
| as there are shares OF stock standing in his name
| on the books OF the corporation. and any stock
holder may vote either In person or by written
proxy at the said animal meeting. well ss
also at any other meeting of the stockholders OF
| the corporation.
Any vacancy occurring on the board of direc-
| tors shall be niied for the unex pired term. b,
| the remaining members of he board OF directors
The officers of the corporation shall be a pres-
dent, vice-president. secretary and a treasu-
| rer. and such Others the board OF drectors
| may deem necessary aud declare by resolution.
| and the board of dire-tors may provide by reso-
luton that one person shall hold the Office of
SECRETARY and treasurer. All the officers aud EN-
plOyees and agents OF this corporation shall ex-
| ercise and possess only such authority may
be conferred them by the board of directors
| No one shall be eligible membership ON the
board OF directors except the stockholders Of the
corporation, and the sale and transfer of all his
1
| cate his membership on the board OF directors
No member of the board Of directors iiay attend
is meetings by proxy. written or otherwise.
| The board OF directors shall meet at such times
as they shall fix aud select by resolution and at
such other times they may be called in special
session by the president OF the bod I'd or the
POINT request Of any three members this reof mssi,
| IN writing. aud each member of the doard shalt
have timely notice Of the meeting A meetings
of the board of directors shall be held at its
| domcile. The board Of directors shd II elect by
4 majority vote of the quorum present. the first
meeting after their election the seveI al officers
herein above provided. except that until tha first
annual election of the board of dire q hrs as here
| in provided. the members Of the board of dirpc-
tors and the officers of the eorporatidu named
| herein shall be follows: C. II. Thai shall be-
| president. DIR. T. A. Simms shall be vice-presi-
dent. H. H. Williams shall be seer etary, and
| II. Ii. Williams shall be treasurer. aud the said
| persons. together with +. W. Orenha user. J. r.
Dale. Louis Hebron, r. J. O'Dwyfr, J. J. o.
Quinn and John A. Barlow. shall CONSTITUTE the
! arst board of directors of this corporation and
shall hold office until their are elected
| ARTICLE SEVEN
Citation and all other legal process shall be
| served on the corporation in its office at its
domicile by service the president. or in ease Of
his absence on the viee-presideut. OF them. oa
the secretary. of them the treasurer
ARTICLE EIGHT.
| This charter may be amended or altered. the
capital stock of the corporation increased or de-
| creased. the corporation dissolved. by the
:onseuf of three-fourths OF all the stockho fders
OF the corporation held for the purpose after ten
days notice 10 each stakeholder. mailed to him
at his la>t known postofice address. the said
notice to give the purpose Of the meeting aud
the date, and the said meeting shall be held at
the office of the company and the notice of such
Iished in the town of the domicile of the corpora
\ ton. Ten days such notice by publication and
| mailing to the addresses 81 the stockholders
| shall also be given of the annual meetings of
| stockholders as provided for in this charter
ARTICLE NINE.
| When this corporation shall be dissolved by
limitation otherwise its affairs shall be iQui
dated by three commissioners to be elected by
the stockholders Of the corporation. and the
| said commissioners shall have power to wind up
the affairs Of the corpora ton settle its business
aud distribute its funds. after the payment of ali
It's Just debts Stockholders meetings. except
| the annual meetings provided for. shall be or
iered by the board OF directors. the secretary Of
4 the board TO give notice thereof, and until the
permanent organization of any meeting OF stock
holders the president OF the board OF directors
shall be chairman and the secretary OF the board
secretary of the stockholders meeting.
ARTICLE TEN.
No stakeholder ol Tins corporation shall ever
be held liable in any manner personally for the
! debts or other obligations OF this corporation
OF for it's contracts faults. for any amount In
excess of the unpaid balance due the corporation
for stock subscribed by him. nor shall any infor-
Inality in the organization OF this corporation
have the effect of rendering this charter null or
al
bflity other than for such unpaid balance due on
stock subscription.
Thus done read and signed ut CoIfax, Bousi-
ana on this the 18th day of July, 1913. in the
no,