The Donaldsonville chief., 1914-04-11

as may be necessary and proper.
and generally to do all such acts
and things as may be neeessarr
proper or convenient to carry ont !
the objects and purposes of said
corporation.
ARTICLE II.
/ The domieile of said ccrporatinn
shall be in the parish of Ascension
state of Louisiana, and all citations,
or other legal process shall be seru.
ed upon the president of said cor.
poration, or, in his absence, unnr
either the vice-president or the sac.
Iretary.
ARTICLE III.
The objects and purposes for
which this corporation is organizad
are hereby declared to be. to nur.
chase, hold, lease and sell lands ID
the parishes Of Ascension and AZ.
sumption, state of Louisiana, to do.
Ve1op their resources and colombo
| them, and to that end to construct
| maintain and operate all necessarv
| improvements and works of convent.
ence or public utility.
| ARTICLE w.
| The capital stock of said corpora.
ton is hereby fixed at ONE HUN.
DRIED THOUSAND DOLLARS Js1o0.
000.00), to be divided into, and ren.
resented by, one thousand (1000l
shares of the par value OF one hun.
dred dollars (s100) each, which shah
be issued as the directors or incor.
porators may direct, at not less
than par for cash, or its equivalent
i'll property. The issuance of such
stock is hereby expressly authorized
in exchange for land in the said par
Ishes of Ascension or Assumption.
of such valuation as the directors or
lncorporators may bona fide place
thereon.
ARTICLE V.
All of the powers Of this corpora
ton, except as herein limited, shall
be vested in, and exercised by,
board of not more than three l3l@
nor more than seven ~, who need
not necessarily be stockholders, to-.
be elected annually by the stockhold-
ers, on the fourth Monday in Jan.
uary of each year. All such elec-
tons shall be by ballot. Notice OF
all meetings of stockholders, exceut
as otherwise required by law, shall
be given by one weeks written no
tice to each stockholder, mailed to-
his last known postoffice address.
Each stockholder shall be entitled to-
one vote for each share OF stock
standing in his name on the books
of the company, to be cast in person
or by proxy, and majority Of the
votes cast shall elect The board Of s.
directors shall have the power to fill
all vacancies that may occur in the
board. Failure to elect directors
shall not dissolve the corporation, but
the directors then in office shall re-
main in office until their successors
are elected. The directors, at their
first meeting, after each election,
shall elect a president, vice-presidentS
and a secretary. They may also
elect treasurer, or may combine the
functions of treasurer with that of
vice president or secretary. The
secretary and treasurer need not be-.
members of the board. The direc
tors may appoint such other officers,
clerks, agents, or employees as they
deem necessary. The directors may
also make, alter, or amend any and
all bylaws, rules and regulations nee.
essary and proper for the business
Of the corporation. The board shall
not. however, have authority to pIacs
any mortgage upon any property Of
the corporation without the unanis
nous consent Of all stockholders.
Except as thus limited, the directors
may do all things reasonable, necese
sary or convenient for the proper
carrying on of the business OF the
ARTICLE vi.
Whenever this corporation may be-
dissolved either by limitation or
from any other cause whatsoever,
its affairs shall be Iiquidated by
three stockholders, to be appointed
at the general meeting Of stockhold-
ers convened for the purpose of Ii
luidation as hereinafter provided,
each share being entitled to one
vote. in person or by proxy. Said
commissioners shall remain in office
until the affairs of said corporation
shall have been fully settled and IL.
quldated, and shall have full author
Ety and power to transfer and give
title to all the assets and property
Of the corporation. In case Of death
disability or resignation of one or
more of said commissioners, the Va-
cancy shall be filled by election By
The surviving commissioner or com
ARTICLE VII.
This act of incorporation may be
modified. changed or altered, or said
corporation may be dissolved, with
,he assent Of three fourths OF
.he capital stock present or repre-
sented at any meeting of stockhoIds
ers after ten (10l days prior notice
n writing, mailed to each stock.
holder at his last known postoffice
address. Any change with reference
o the capital stock of the corpora
ion shall be made in accordanee
With the laws Of the state of Lou
siana on that subject. Z
ARTICLE VIII.
No stockholder shall ever be held
liable or responsible for the con
racts or faults of said corporation
n any further sum than any un-s
9aid balance due on the shares OF
stock owned by him; nor shall an
mere informality in organization have
he effect of rendering this charter
lu1 Or of exposing any stockh0lder
n IfnH