The herald. [volume] (New Orleans, La.) 1905-1953, 1913-12-25

action upon any matter shall be considered a
valid, corporate act, when, previously to the
holding OF said meeting, and after the ten
days notice hereinabove stipulated shall have
been given, the other four directors consent
in writing thereto. Said written consent shall
be spread upon the minutes of said meeting.
The board of directors shall have power to
determine the manner and cause for which
vacancies may be declared on said board, and
shall have the right TO hll any vacancy oc-
curing thereon by the election OF some quail
flied stakeholder, who shall serve until his
successor is elected at the annual election.
No person shall be eligible as a member Of
the board unless a stakeholder Of the cor
poration.
The officers of the corporation shall be
president, vice president, secretary and treas
urer, of whom the president, vice-presidnet
from among its members, and the secretary
from among the stockholders. The office of
vice president and treasurer may be combined
and be held by one and the same person.
Immediately after the signing OF this char
ter the subscribers hereto, as stockholders,
shall elect from among the stockholders said
board of directors, and at the same meeting
elect the officers to serve the corporation.
Said board of directors shall continue in
Office until the third Monday in January,
1915, on which day, and annually thereafter
board of directors shall be elected by ballot
for the term of one year. Such election shall
be held under such rules and regulations as
may be provided by the board of directors.
Any failure from any cause whatever to elect
DOard OF directors on the DAY named, snail
not dissolve the corporation, but the board of
directors then in office shall hold over until
their successors are chosen. At every cleo
tion and meeting of the stockholders the vote
shall be by ballot, and each share of stock
shall be entitled to one vote TO be cast by
the owner in person or by written proxy. The
stockholders receiving majority of the votes
cast shall be declared elected as the board of
directors. The board shall have the right to
appoint and discharge such managers, clerks,
agents and other employees, as may be deem
ed necessary or expedient, and to make,
change, and amend all bylaws, rules and
regulations for the proper conduct and man.
agement of the affairs, business and concerns
OF the corporation, and not in conflict with
this charter or the laws of this state.
All warrants, checks, drafts or other obliga.
tIons of this corporation shall be signed by
the president, or by the treasurer.
Any officer or director may be removed by
a majority vote of the stockholders.
When all seven directors consent thereto.
or are present, the notices otherwise required
| Tor holding meetings may be dispensed with.
Article Nl-Meetings of the stockholders
may be called at the pleasure of the presi-
dent, or on the written consent of a major.
| lty OF the board of directors or stockholders
Except as otherwise provided in this act, OF
| by law, all questions submitted at the stock.
holders meeting shall be decided by ma.
Jority OF the stock voted at said meeting
| All meetings OF the stockholders, whether
general or special, shall be held only after
| ten days written ,Otice to each stockholder
Such notice shall BE signed by the presiden,
or secretary, and snail be sent to each stock
holder by mail, directed to him at his las
known place of residence. The said motto,
may be waived by the unanimous consent O.
| all of the stockholders.
Article Vino stakeholder shall be hel,
| liable or responsible Tor the contracts, debts
iaults or defaults OF said corporation in an
further sum than the unpaid balance due IN,
corporation on the shares of stock owned b,
him, nor shall any mere informality in or
SANITATION have the effect of rendering thi
charter null, or of exposing a stockholder 4
any liability beyond the amount remainin
unpaid on his subscription to the stock.