New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1913-03-22

said stock may be sold In open market
The stock of said corporation may "
Transferred under the above conditions
! provided such transfer thereof be mace Vi
the books of said company, at III oiiice
in the City of New Iberia, and on the sur
render of the certificate rheretof. M
transfer of any fractional part OF snare
shall be made
! This corporation shall commence dolns
business as soon as forty (4O) shafes q
the capital stock shall have been suoscrlo
ed for.
The Board of Directors shall have
the right to determine how much S'oc'
! shall be issued.
ARTICLE ".
The corporate powers of tins company
| shall he vested in and exercised by
! board of three CD directors, CONSISTING
of the president, who shall also be-ohclt
the treasurer of said corporation, the wee
president and one % stockholder; now
ever. the membership of the board ol
directors may be increased to five (o) bJ
A vote of the majority of the issued stock
| of The corporation at any called OF specin
meeting held for that purpose.
majority OF the membership OF the
quorum for the transaction of business,
and theirdecisions shall be yahd corporate
acts.
The following persons shall constitute
the first board of directors OF this cor
poration: Havert S. Ssaiy, president
Jules f. Dupuy, vice president, ana
Homer Dupuv.
No person shall be eligible as director
OF an officer who is not stockhol6er oil
this corporation; provided, however, tha'
the board of directors may elect Secre-
taIy who need not be a stockholders, WIN
the right to dismiss him at its pleasure,
AZ hereinafter provided.
During the absence Of the president,
the vice president shall act and preside.
Said board shall continue in office until
the first Monday in in January. 1914, OH
which date and thereafter. annually, on
the fifteenth day OF January, OF each
year, a board of directors shall be elected
provided, that should fixed date be holl-
day, the election shall be held on the next
legal day thereafter.
Notice of such election shall be given
by at least twenty COO days publication
Immediately preceding each election, IN
one of the weekly English newspapers OF
this City; and the board of directors
shall appoint one or more stockholders
TO preside at such election as commits
sionsrs In the event of the failure OF
any commissioner or commissioners to at
tend, the president shall, by appointment,
Fl II the vacancy or vacancies. Any failure
from any cause whatever to elect direct
ors the day named for that purpose shall
not dissolve the corporation, but directors
then in office, as well as the officers OF
corporation, shall hold over until their
successors are chosen
In such event the president shall cause
another election to be held within thirty
300 DAYS, and shall give notice thereof
MS herein before 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 corporation; except as
provided for above with reference to the
election of Secretary.
ARTICLE V.
The Bop~d ~ Directors shall have full
power to fill vacancies in their number
caused by death. resignation or otherwise,
from amon.: - stockholders of the cor
poration.
The said board shall have full control
of the property of this corporation, and
shall 30 conduct, manage aud use the same
as in their decision and discretion they
deem fit and that is consistent with tho
objects of this corporation, or the welfare
of the same.
The said board is further authorized to
frame and adopt such bylaws, rules and
regulations as the affairs and business OF
the corporation may require. and as it
may deem necessary for the conducting
and management thereof; provided, the
same shall not conflict with this charter.
or with the laws of this State, or of the
United States.
The said board shall elect or appoint
such officers, agents, employees, servants
and clerks as it may deem necessary for
the conducting of the business of the
corporation; fix their compensation, term
of service, with the right to dismiss them
at said boards pleasure; and said board
shall have the right TO fix and determine
the salaries of the several officers herein
provided for.
ARTICLE vi.
This charter may be changed, modified
or amended, the capital stock increased
or decreased, or this corporation may be
dissolved, at general meeting of the
stockholders convened for the purpose,
with the assent of three fourths of the en-
tire stock subscribed for at time of said
general meeting, whether present or re-
presented at such meeting.
Thirty (30) days prior notice of such
meeting shall be given in any weekly
English newspaper published in this CITY.
In case OF dissolution OF termination of
this corporation, either by limitation of
its charter or from any cause, the liqulda-
ton of its affairs shall be conducted by
three (3) commissioners. selected from
the stockholders, with like assent, and at
meeting called for that purpose, as
above set forth in this article,
The said Commissioners shall remain
in Office until the affairs of said corpora
ton shall have been fully liquidated. In
case of the death of one or more of said
commissioners, the survivors or survivor
shall continue to act.
ARTICLE VII.
No stakeholder of this corporation shall
ever be held liable or responsible for the
contracts or faults thereof, in any further
sum than the unpaid balance due the cor
poration on the shares of stock subscribed
for or owned by him, nor shall any infor-
mality in organization have the effect of
this charter null or of exposing
a stakeholder to any liability, beyond the
unpaid balance, if any, of his stock.
Thus done and passed at my notarisl
office, in the City OF New Iberia, Parish
Of Iberia, State of Louisiana, on the day.
month and year herein first above written
in the presence of NJ essrs. Walter s. Hen
ming and Francis W. Crosby, competent
oflawful age, and residents of
this City, who hereunto sign their names.
together with said parties, and nae, Notary,
after leading of the whole.
HAVERT s. SEALY
JULES f. DUPUY
DIR. HOMER DUPUY
Witnesses.
W. 8. HENNING
F. w. CROSBY
NATHAN DAVIS,
nf d.