The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1913-07-12

During the absence OF the preside III
the vice -president Shall act ard preside.
Said board shall continue ia oitlce unit
the first Tuesday in January, 1913. a.
which date, and thereafter, annually
board of directors shal! be elected on the
! rst Tuesday OF January OF each year, nm
less the same should be holiday. then the
| election shall be held ON the next legal day
| thereafter.
| Written notice of such election address
ell to each stakeholder at his last known
post. office address shall be given at least
! ten (l0l days prior to said meeting; ana
the board of directors shall appoint one
or more stockholders to preside at such
| election al commissioners. In the event
of the failure of any commissioner or com :
mssioners to attend, the president shah,
by appointment, fill the vacancy. Any
failure from any cause whatever to elect
directors on the day named for that pur-
pose shall not dissolve the corporation;
but the directors then in office, as we'll as
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
(30) days, and shall give notice thereof as
hereinabove provided.
at every election aud meeting each
stakeholder shall be entitled to vote for
each share of stock registered in his
name anu may fVlC ny pIOAys
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 cast.
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
PRESIDENT. NONRESIDENT, a
SECRETARY and a TREASURER. The
offices Of Secretary and Treasurer may be
held BY one person.
ARTICLE V.
The board of directors shall have full
power to fill vacancies in 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 so
conduct, manage and Use same as in their
discretion they deem fit, and that is con-
sistent with the objects of this company or
the welfare of the SalHe, with the authOri-
ty to frame and adopt such bylaws, rules
and regulations as they may deem neces.
sary for 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 VI.
No stakeholder shall ever be held liable
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 owned by him; nor shall
any mere informally in the organization
of this company have the effect of render
ing its charter null, or Of exposing any
stakeholder to any liability beyond the
amount of his stock.
ARTICLE VII.
The capital stock may be increased or
decreased in the manner and form pro-
vided for by the Constitution and laws of
the State of Louisiana.
This charter may be changed. modified
or amended, or this corporation may be
dissolved at a general meeting of the
stockholders convened for the purpose
with the assent Of three fOurths (3-4) Of
the stock represented at such meeting, at.
ter thirty days notice shall have been
given of such meeting 10y advertisement
in one Of the newspapers published in the
Town of Franklin, Parish of st. Mary,
Louisiana.
ARTICLE VIII.
In case Of dissolution or termination of
this corporation, either by limitation ofits
charter or from any other cause, the liqui-