New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-08-14
CHARTER OF
THE CHAIN OIL COMPANY. INC,
State of Louisiana, Parish of Iberia

-. i9'S ), oefofe me, Alphor Sc DAVIS, Notar,
Public, in and for the Parish of iberia, State Of
Louisiana, duly commissioned and qualified az such
| II the presence OF the undersigned competent wit
ne''es, personally came and appeared, the severn
persons whose MINES are hereunto subs,r iLed who
declare that they desire to avail themselves of Ac,
167 OF the Aou of the General Assembly Of the
State OF Louisiana of the year 1914 and the other
laws OF the State relative to the organic ston of
corporations, that they do BY these presents bind.
covenant, aad agree and form themselves into a
corporation and body polite in law together with
all persons who may thereafter become associated
with them, and to acl ure the rights and powers
OF body corporate, they do thereby form them
selves inso a corporation under tho name and style
and for the purpose hereinafter set forth
ARTICLE I.
The name and title of this corporation shall be
''The Cham Oil Company Company Inc" and
it, domice is hereby established at New Iberia.
iberia Parish, State OF Louisiana, and under its
corporate name, said corporation shall have the
power and authority to contract and to be sued
and to make and use corporated SEAL and the same
TO break and alter ~ pleasure and 10 hold, receive
purchase. mortgage or convey under ito corporate
name, property both real and personal, for the
purpose OF carrying out the objects thereof, name
and appoint such officers, directors, and other en-
ployees as may be permitted by law, to make and
establish bylaws, rues and 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 as may be permitted BY
law, o. may be necessary and proper to carry out
the objects and purposes of this corporation
Said corporation uni less sooner dissolved shall
exist for period Of thirty years.
Service Of citation, or other legal process shall
ibs made in conformity with the existing laws gov
e'ning the corporations in this State.
ARTICLE 4.
The objects and purposes for which th. corpora
ton is organized and the nature Of the bushes, 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 i, may acquire in full
Or in part ownership, or may lease or 70 which it
may acquire any rights whatever fer the purpose
Of discovering oil, gas or other minerals and the
same to explore for commercial purposes; to un-
dertake all works and make all contract, to that
end as may be necessary, and to sell OF otherwise
dispose Of such products as they may bring forth
and to do all things tina, may be necessary to
facilitate the drilling exploration, and sell and
deliver thereof aad in fact to do all things neces-
sa,y and conducive and to the benefit Of said cor,
poration.
Article
The Capital Stock shall be Fifteen Thousand
Dollars ($I 5000 oo) divided into Six Hundred
{ 6oo) shares Of the par value Of Twenty Five
Dollars $is.oo) each, which stock shall be paid
Tor IN cash At the time of ito subscription, or in
ueh installments as the Board may direct, stock |
nay be issued in exchange for properly or right,
lctually received or purchased by the corpora
ion, or good will, other valuable considerations
IS may be permitted by law, and after due ap.
'rasment BY the Board Of Directors of said cor
oration.
No Stock Holder shall ever be held liable or
esponsble for the contract or failure Of said cor.
Grafton, in any further sum than that provided by
~, nor shallany mere informally in the organize.
ion have the effect Of rendering said chartes null
expose said stock holders to any liability, other
han that specified by law.
Fifty per cent Of all stock subscribed for must
9 actually paid in before the corporation engage. in
usiness, and the remainder within Twelve months
hereafter under the re'uietioIs pointed out by
lid Act .67 Of the year 1914. The amount to
'hich the capital stock may br increased 10 here.
y fixed at the sum of Forty thousand Dollar
$40, 700 Co.,
The Board Of Director shall have the powe,
FIJI vacancies in their number, caused BY death.
,ignation or otherwise, from among the stock
oldeu Of the corporation and saii Board shall
ave control Of the property Of this company and
'al 20 conduct, manage and use the same o. in 9
sir discretion they deem necessary, and which
consistent with the organization and affairs Of
e company; 1t may adopt such rules and regula-
'ns a. the affairs Of the corporation may re- =
ire, employ such laborer', clerks or other :
ents As may appear desirable, to fix and deter y
inc the salary Of each officer and other plsyes,
in accordance with law.
ARTICLE 4. 0
The cooperate powers Of this company shall be .
sted in and exercised BY Board Of Seven diree-
., -Four Of which shall constitute quorum, for
{ uansaeting Of business. There shall be elected q
IN the Board Of Directors, a President, Vice u
esident, a Secretary and Treasurer. The p
ard Of Directors shall be elected on the first d
onday in June Of each year. Until such eee-
n, to be held in the year 1916, the following 81
sons shall constitute the first Board Of Directors
P. Sims, President, AdeIine, La; Dr.. PaulN.
r, Vice-Prssident, Jeanerette, La; H. ].
18th, Secretary, New iberia, La; ]. G. Brous- L.
4, Treasurer, ST. Martinvic, La; Robert c. -
yor, New Iberia, La; L. s. Wooster, Center
e, La. and Z. Delaboussaye, St. Martinvic,
At every election and meeting Of the Stock
ldcrs, each stock holder shall be entitled to one
c for each share Of stock owned by him; vot-
by written proxy shall be allowed under the
visions Of Section Of said Act 167 Of the st
1914.
ARTICLE 8.
meetings for the election n
Directors shall be held annually on the ab
It Monday in June, at the domicie Of To
corporation; notice thereof shall be Sh
ivered personally by deposting in the III
st Office, to the proper address to each tn
ckholder, announcement thereof at wi
st fifteen days U5) before the A,
citing. At least two days co before m,
meeting a complete list OF the stock tb
ders entitled to voto, shall be open for on
pection by the stockholders, at the an
ce Of said meeting, all other meetings
may be conducted in ac- III,
dance with section 10 Of said Acts 267
he year 1914. bu
ARTICLE 6 IN
his charter may be changed, or amen Isl
!, or the corporation dissolved, under Pill
terms and conditions, and in accord me
\ - n