The St. Mary banner., 1914-05-02

said property for any amount and on any
terms and conditions that said Board Of
Directors may see fit, and to issue for Sc
other evidences of Indebtedness.
Said Board of Directors shall have
power to appoint all agents, clerks and
employees, and fix their salaries and com.
pensation. The Board of Directors shall
have the power to make, change. alter and
modify all proper bylaws, rules or regu-
lations for carrying this charter into effect
and fof the management Of the affairs of
he corporation, provided, however, that
it shall require an affirmative vote of q
majority Of the Board of Directors to
adopt, amend or repeal any by.law or BY.
laws. Any Of the said Directors shall have
the right to delegate to any other Director
in writing any Of the rights and powers
enjoyed by him as such Director.
ARTICLE VII.
At ell meetings of stockholders. it shall
require vote of q majority of the stock
so present or represented to elect direc-
tors, or do any other act, except to amend
the charter or dissolve the corporation,
which shall require a vote of at least
three e.fourths of the stock so present or
represented, which three -fourths must al.
so be majority Of the stock outstanding.
ARTICLE VIII.
Upon the termination Of this charter by
limitation, or upon the dissolution Of the
corporation as hereinafter provided for,
the business and affairs of the corporation
shall be hquidated by three commissioners
selected from the stockholders at gene
raj meeting called for that purpose, after
giving the stockholders notice as provide
In Article V hereof. In case Of the death
of a. commissioner during the term of his
to act, the remaining commissioners shall
declare the Office vacant and shall elect q
successor from among the stockholders.
ARTICLE TX.
Except as to the increase or decrease of
capital stock, which must be done in the
manner and form required by law, this
Act Of Incorporation may be changed,
modified or altered, or the corporation
may be>disso!ved. at meeting Of stock
holders called specially for that purpose,
after giving the stockholders notice as
provided in Article v hereof; such meet
ing to be called by the Secretary upon the
written request of those holding not less
than one third Of the capital stock.
In the event the dissolution of the cor.
p0ration is voted. the commissioners pro.
vided in Article VIII hereof may be elect-
ed, II SO desired, at the same meeting at
which the dissolution is voted.
ARTICLE K.
No stakeholder shall be liable or in any
manner responsible for the contracts or
faults Of this corporation beyond an un.
paid balance that may be due on the
shares Of stock owned by him; nor shall
any mere infolmality In this act have the
effect of rendering this charter null or Of
exposing stockholders to liability beyond
the amount of their stock.
ARTICLE XII.
In the event that this corporation shall
issue first or second mortgage bonds or
notes and any default should be made in
the payment Of the first or second mort.
gage bonds or notes, or II any amount is
still due in principal or interest on the
second mortgage bonds or notes, then no
dividends whatever shall be paid upon the
stock of this corporation; and dividends
only shall be paid after all second mort.
gage bonds or notes are fully paid and
ratisded.
ARTICLE XII.
So that this Charter may also serve as q
subscription list, the parties signing this
charter have set out opposite their sigma.
lures the amount of the capital stock OF this
corporation subscribed by each one of
them.
Thus done and passed in my office at
Franklin. st. Mary Parish. Louisiana, on
the day, month and year first hereinab0ve
written, in the presence OF Messrs.. r.
Kramer and r. c. Milling. competent
witnesses, who hereuntO sign their names
with said appearers and me Notary; al
ter due reading of the whole.
Witnesses:
PAUL KRAMER.
r. G. MILLING.