New Iberia enterprise and independent observer., 1915-07-17
CHART- OF
THE CHAIN OIL COMPANY. ING.
State Of Lou iana. Parish of Iberia

State OF LOul lana. Parish Ot iberia.
Be ii known that on this 1Sth day OF MAY A.
y. 1918, before me, Alphonse DAVIS, q Notary
Public, in and tot the Parish OF Iberia, state OF
Loursiaui, duly commissioned and qualified as such
IN the presence Of the undersigned competent wit
nesses, personally came and appeared the several
Pcr5ons whose nimes are herrunto subscribed who
declare that they desire to avail themselves of Act
lb7 OF the Acts OF the General Assembly Of the
State OF Louisiana ot the year 1914, and the other
laws OF the State relative to the organization of
corporations, that they do by these presents bind
covenant, and agree and form themselves into a
corpor'tion and body polite in law together with
all persons who may thereafter become associated
with them, and to clulrc the rights an powers
OF body corporate, they do thereby form them
selves nso a corporation under the name and style
and for the purpose hereinafter set forth
ARTICLE /.
The name and title of this corporation shall be
"rhe Chain Oh Company Company Inc and
it domcie is hereby established at New Iberia,
IBERIA Parish, State of Louisiana, and under its
corporate name, sad corporation shall have the
power and au hority to CONTACT sue and to be sued
and to make and use corporatod seal and the same
to break and alter AT pleasure and to hold, receive
purchase, mortgage or convey under its corporate
name, property both real and personal, for the
purpose of carving out the objects thereof, name
and appoint such officers directors, and other em-
ployees as may be permitted by law, TO make and
establish bylaws, ru'es ana regulations for the
proper management and regulations of its affair,
as may be deemed necessary and proper and to do
all other acts and things a. may be permitted by
law, or may be necessary and proper to carry out
the objects and purposes of this corporation
Said corporation unless sooner dissolved shall
exist for period of thirty years
Service of citation, other legal process shall
ibe made in conformity with the existing laws gov
erning the corporations in this State.
ARTICLE Z.
The objects and purposes for which this corpora
ton is organized and the nature of the business to
be carried on by it are hereby declared to be, to
engage in the business of drilling upon or other
wise exploring such lands as it may acquire in full
or in part ownership, or may lease or ro which it
may acquire any rights whatever for the purpose
of discovering oil. gas or other minerals and the
same to explore for commercial purposes; to un-
deftake all works and make all contracts to that
end as may be necessary, and to sell or otherwise
dispose of such products as they may bring forth
and to do all things that may be necessary to
facilitate the drilling exploration, and sell and
deliver thereof and in fact to do all things
sary and conducive and to the benz fit of said cor
poraton.
ARTICLE
The Capital Stock shall be Fifteen Thousand
D,Ilars $4,000 oo) divided into Six Hundred
(6oo) shares of the par value of Twenty Five
n, 1, r l. i 4
for in cash at the time of its subscription. or in
such nstaments the Board may direct, stock
may be issued in exchange for property or rights
actually received purchased by the corpora
ton, good will, or other valuable considerations
as may be permitted by law, and after due ap-
praisment by the Board OF Directors of said cor
poration.
No Stock Holder shall ever be held liable or
responsible for the contract or failure of said cor
poration, in any further sum than that provided by
law, nor shalany mere nformaty in the orgsniza-
ton have the effect of rendering said charter null
or expose said stock holders to any liability, other
than that specified by law.
s Fifty per cent Of all stock subscribed for must
be actually paid in before the corporation engages in
business, and the remainder within Twelve months
therea under the restrictions pointed out by
said Act a67 of the year 1914 The amount to
which the capital stock may be increased is here
by fixed at the sum of Forty Thousand Dolsrs
(S4o, 900 90.
The Board of Directors shall have the powe,
to fill vacancies in their number, caused by death,
resignation or otherwise, from among the stock
holders Of the corporation and said Board shall
have control Of the property Of this company and
shall so conduct, manage and use the same as in
their discretion they deem necessary, and which
is consistent with the organization and affairs Of
the company; 1t may adopt such rules and regula-
tions az the affairs Of the corporation may re-
quire, employ such laborers, clerks or other
agents as may appear desirable, to fix and deter
mine the salary of each officer and other poyee.
all in accordance with law.
ARTICLE 4.
The cooperate powers Of this company shall be
vested in and exercised By Board of Seven diree-
tors, Four Of which shall constitute quorum, for
from the Board Of Directors, a President, a Vice
President, Secretary and Treasurer. The
Board Of Directors shall be elected on the first
Monday in June Of each year. Until such cleo
ton, to be held in the year 1916, the following
persons shall constitute the first Board Of Directors:
c. P. Sims, President, Adcine, La. DR.. Paul N.
Cyr, Vice -Presideat, Jeanerette, La II. ].
Smith, Secretary, New iberia, La; G. Brous-
'srd, Treasurer, St. Msrtinve, La; Robert c.
Taylor, New iberia, La; |. s Wooster, Center
vile, La ;andF. Z. Delahoussaye, St. MartinvilIe,
La. At every election and meeting Of the Stock
Holders, each stock holder shall be entitled to one
vote for each share of stock owned by him; vo,-
ng BY written proxy shall be allowed under the
provisions of Section II of said Act 167 Of the
year 1914.
ARTICLE 6.
Stockholders meetings for the election
)f Directors shall be held annually on the
irst Monday in June, at the domicile of
he corporation; notice thereof shall be
delivered personally by depositing in the
Post Office, to the proper address to each
,tockholder, It announcement thereof at
east fifteen days (l5) before the
Meeting. At least two days f2) before
aid meeting a complete list OF the stock
folders entitled to voto, shall be open fer
Inspection by the stockholders, at tho
lace Of said meeting, all other meetings |
4 stockholders may be conducted in &C |
ordance with section 10 Of said Acts 207 |
( the year 1914.
ARTICLE
This charter may be changed, or amen /
al or the aorporation dissolved undor |