The Donaldsonville chief., 1914-03-28

| maintain and operate all necessary
| improvements and works Of convey
ance or public utility.
| ARTICLE ".
The capital stock of said corpora
ton is hereby fixed at ONE HUN
DRED THOUSAND DOLLARS (S100,
OOO.O .O0), to be. divided into, and rep
resented by, one thousand .Q0O0l
shares of the par value of one hun
dred dollars tS100) each, which shall
be issued as the directors or incor-
porators may direct, at not less
than par for cash, or its equivalent
in 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
incorporators may bona fide place
| thereon.
ARTICLE V.
All of the powers of this corpora
| ton. except as herein limited, shall
be vested in, ando es8rcised by, a
board of not more than three CD
| 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 cleo
tions shall be by ballot. Notice of
all meetings of stockholders, except
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 a majority OF the
votes cast shall elect. The board OF
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 president, vice president
elect a 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 place
any mortgage upon any property of
the corporation without the unani-
nous consent Of all stockholders.
Except as thus limited, the directors
may do all things reasonable, neces-
sary or convenient for the proper
carrying on of the business of the
corporation.
ARTICLE VI.
Whenever this corporation may be
dissolved either by limitation or
from any other cause whatsoever,
its affairs shall be liquidated by
three stockholders, to be appointed
at the general meeting of stoclhold-
.ers convened for the purpose of IL
quidation as hereinafter provided,
each share being entitled to one
9oICs Ill pC1 5OA& VI ny p1OAy. 0e1IA
commissioners shall remain in office
until the affairs of said corporation
shall have been fully settled and Ii
quidated, and shall have full author
ity 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
missioners.
ARTICLE VII.
This act of incorporation may be
modified, changed or altered, or said
corporation may be dissolved, with |
the capital stock present or repre-
sented at any meeting of stockhold-
ers after ten (10) days prior notice
in writing, mailed to each stock |
holder at his last known postoffice |
address. Amy change with reference I
to the capital stock of the corpora
ton shall be made in accordance |
with the laws of the state of Lou
isiana on that, subject.
ARTICLE VIII.
No stockholder shall ever be held I
liable or responsible for the con-
tracts or faults of said corporation
in any further sum than any un-
paid balance due on the shares of
stock owned by him; nor shall any
mere informality in organization have
the effect of rendering this charter
null or of exposing any stockholder
to any liability beyond the unpaid
balance due on his stock.
In order that this act may serve
as the original subscription list, the
subscribers hereto have written op-
posite their respective names the
amount of stock iii this corporation
for by each of them.
Thus done and passed in my office
at Donaldsonville in the presence of
Fred Landry and James Fortier.
competent witnesses, who have here
unto signed their names with the
said appearers, and me, notary, on
,he day and date aforesaid, after
1ue reading Of the whole.
(Original signeO:
NAMES OF SUBSCRIBERS.
FRED LANDRY,
JAMES FORTIER.
WAITER LEMANN,
Notary Public.
hereby certify that the above
md foregoing is a true and correct
Nf +ho aLa,s s@p,. FT51. |