New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-08-07
CHARTER OF
THE CHAIN OIL COMPANY. INC.


\
D. 1913, before me, Alphon So Davis, a Notsr
! Public, in and for the Parish of Iberia, State Of
Louisiana, duly commissioned and qualified a. suel
II the presence of the undersigned competent wit
ne"es, personally came and appeared, the severa
persons whose names hereunto subscribed VIII,
declare that they desire to avail themselves of Ac
ao7 OF the Aes' of the General Assembly Of tn.
State OF Louisiana of the year 1914, and the othe
laws OF the State relative to the organization of
corporations, that they do BY these presents, bind
| covenant, aad agree and form themselves into 4
corporation and body polite in law together with
all persons who may thereafter become associated
with them, and to acquire the rights and powers
OF body corporate, they do thereby form them
selves Inso corporation under the name and s.yle
and for the purpose hereinafter set forth
ARTICLE /.
The name and title of this corporation shall be
"The Chain Oil Company Company Inc" and
1t domlcile is hereby established at New Iberia,
iberia Parish, State Of Louisiana, and under its
corporate name, SAID corporation sha have the
power and authority to Contract sue and to be sued
and to make and use corporated seal, and the same
to break and alter A. pleasure, and to 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, ru'es and regulations for the
proper management and regulations of its affairs
as may be deemed necessary and proper, and TO do
all other acts and things as may be permitted BY
law, or may be necessary and proper to carry
the objects and purposes of this corporation.
Said corporation unle" sooner dissolved shall
exist for period of thirty years
Service of citation, or other legal process shall
ibe made in conformity with the existing law, gov
erning the corporations in this State.
ARTICLE =.
The objects and purposes for which thi, 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 it may acquire in full
or in part ownership, 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 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 neces-
,ary and conducive and to the benefit of said cor
ooration.
ARTICLE
The Capital Stock shall be Fifteen Thousand
D ollars ISL 5000 oo) divided into Six Hundred
6oo) shares of the par value of Twenty Five
Dollars $,5 oo) each, which stock shall be paid
or in cash at the time of its subscription, or in
l. L..
nay be issued in exchange for property or rights
ctually received purchased by the corpora
ion, good will, or other valuable considerations
IS may be permitted by law, and after due ap-
rasment by the Board OF Directors of said cor
oratlon.
No Stock Holder shall ever be held liable or
esponsble for the contract or failure of said cor
or alton, in any further than that provided BY
aw, nor shallany mere informally in the organiza-
ion have the effect of rendering said charter null
n expose said stock holders to any liability, other
han that specified by law.
Fifty per cent Of all stock subscribed for must
actually paid in before the corporation engages in
usness, and the remainder within Twelve months
hereafter under the restrictions pointed out by
aid Act .67 Of the year 1914. The amount to
'hich the capital stock may b- increased is here
y fixed at the sum of Forty Thousand Dollars
$40, 900 90.
The Board of Directors shall have the powe,
, fill vacancies in their number, caused by death,
.signation or otherwise, from among the stock
olders Of the corporation and said Board shall
ave control of the property Of this company and
ball so conduct, manage and use the same a. in
1eir discretion they deem necessary, and which
consistent with the organization and affairs Of
lie company; 1t may adopt such rules and regula- /
ons as the affairs Of the corporation may ,
aire, employ such laborers, clerks or other
gents as may appear desirable, to fix and deter
line the salary of each officer and other pl0yee,
] in accordance with law
ARTICLE 4.
The cooperate powers of this company shall be
.stcd in and exercised by Board of Seven diree-
70, Four Of which shall constitute quorum, for
lie transactng of business. There shall be elected I
ON the Board of Directors, President, Vice
resident, Secretary and Treasurer. The
GARD of Directors shall be elected the first
Ionday in June of each year. Until such cleo i
On, to be held in the year 1916, the following ,
.rsons shall constitute the first Board Of Directors:
P. Sims, President, Adclne, La; DR.. PaulN. :
yr, Vice President, Jeanerette, La H. J. ;
NTH, Secretary, New Iberia, La; J. G. Brous- .
I'd, Treasurer, ST. Martinvile, La; Robert G.
aylor, New iberia, La; /. s. Wooster, Center =
lie, La and F. E. Delahoussaye, St. Martinville, {
4, At every election and meeting Of the Stock i.
olders, each stock holder shall be entitled TO
tie for each share Of stock owned by him; vot-
z by written proxy shall be allowed under the l
DIVISIONS of Section of said Act z67 of the a
AZ 1914.
ARTICLE s.
Stockholders meetings for the election :
Directors shall be held annually on the ,
rst Monday in June, at the domicile Of -,
le corporation; notice thereof shall be :
,livered personally by depositing in the ,
ost Office, to the proper address to each
ockholder, announcement thereof at 1
asst fifteen days l5) before the C
Getting. At least two days (2) before r
lid meeting a complete list Of the stock n
,lders entitled to vote, shall be open fer ]
spection by the stockholders, at the e
ace Of said meeting, all other meetings Q
stockholders may be conducted in ac- 1
,rdance with section 10 of said Acts 267 ;
the year 1914. l(
ARTICLE s
This charter may be changed, or amen i
ID, or the corporation dissolved, under
10 terms and conditions, and in accord :