Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1915-12-17

them. to form and constitute corpora
ton and body polite in law, for the
objects and purposes, and under the
agreements and stipulations herein fol-
lowing, which they adopt as their
ARTICLE ONE. EEs'v~
The name and style Of this corporation
shall be the TENSAS ABSTRACT CO.,
INC, and shall have corporate duration
of ninety-nine years unless sooner dis
solved 1t shall have all the powers
inherent i'm corporations, and particularly
those provided by Section Seven % OF
Act No. 267 Of the General Assembly OF
this State, approved July 9th, 1914, as
well as those conferred by other laws OF
this State.
ARTICLErTWO. -'- -.
The DOMfCfLE Of this corporation
shall be in the town OF st. Joseph, said
Parish and State, and all citations and
other legal process shall be served on the
President of this corporation, and in his
absence or inability to act, on the Vice
President or Secretary-Treasnrer.
ARTICLE THREE.
The PURPOSES for which this corpOr-
alton is organized and the nature OF the
business to be carried on by it, are here
by declared to he as follows: to make
and certify to abstracts Of title OF any and
all lands i'm Tensas Parish, or other par
isles, i'm the State of Louisiana, and to
take any and all necessary and proper
steps to perfect and cure any defective
titles therein; to dispose OF said abstracts,
and generally to do and perform all acts
and things that incidentally pertain or
are necessary to carry out the said objects
and purposes of this corporation.
ARTICLE FOUR.
The CAPITAL STOCK of this corpora
ton is hereby fixed at Five Thousand
Dollars Is, 10000 all of said stock to
he common stock, and represented by
fifty (5O) shares of the par value OF One
Hundred Dollars (SlOO.OO) each. All OF
said capital stock having been subscribed
and paid for contemporaneously with the
execution of this charter, this corporation
is hereby authorized to begin business at
once.
All transfers of stock shall be made on
the books of the Company, and no trans
fer OF stock shall be in any way binding
on the Company unless and until it is
made in the above described manner.
Any stakeholder may sell or transfer
his stock in this corporation, provided
thirty days prior notice OF such intention
to sell or transfer the same be given the
Company and the other stockholders
thereof shall have the first privilege OF
purchasing same, after which thirty days
notice the said stock may be sold in open
market.
Each share of stock shall entitle the
owner thereof, either in person or by
proxy, to cast one vote at all general
meetings.
No stakeholder OF this corporation shall
ever be held liable or responsible for the
contracts or faults thereof, in any further
sum than the unpaid balance due the
Company on the shares OF stock sub
scribed for and owned by him, nor shall
any informality in the organization have
the effect of rendering this charter null :,
or OF exposing stakeholder to any
liability, beyond the unpaid balance, it
any, Of his stock.
ARTICLE FIVE.
The CORPORATE POWERS OF this
corporation shall be vested in and exer-
cised by Board of Directors composed OF
three stockholders, which shall be elected
nv a majority vote of this corporation,
said stock to be voted by owner thereof,
ar by some person by him duly authorized
i'm writing, and each share Of stock to he
counted az one vote The Board Of Di-
rectors shall he elected at the regular an
nual meeting of the stockholders hereof,
which said meeting shall held at the
domciIe of this corporation on the third
Monday in January, A. ID. 1916. and an
nually thereafter. after the giving OF ten
DAYS notice in writing mailed to each
Stockholders last known address OF the
time and place of the holding OF said
meeting.
Immediately after their own election,
the said Board Of Directors shall convene,
and shall elect, from their own members,
president, vice-preident, and secre-
tary-treasurer.
Such Officers and Board Of Directors
shall serve until their SUCCESSORS have
been elected and qualified.
Special meeting of the stockholders
may he held at the request Of any three
shareholders, after ten days notice In
writing. as above provided. stating the
object of such meeting. k.F3
Any Directors, who may be absent
from the town OF st. Joseph, shall have
the right 10 appoint any snarenoiuer oi
the Company to vote for him at any meet
ing Of the Board of Directors; and snch
proxy shall have and exercise all the
powers Of such Directors appointing him.
The Board Of Directors shall have full
power to fill vacancies in their number
causedby death, resignation or otherwise,
from among the STOCKHOLDERS Of the cor
poration.
ARTICLE SIX.
All notes and evidences Of indebtedness
must be signed Ivy the president, or vice
president, and cOuntersigned by the Sec
rotary treasurer. and this corporation
shall not be responsible for any debts
created by any OF its officers. in excess Of
the sum Of One Hundred Dollars (S10O.
OO), unless same shall be authorized or
approved by resolution by the Board OF
Directors. - -
ss-4 - '1vARTICLE SEVEN. =
I Whenever thus corporation is dissolved.
nv limitation or otherwise, its affairs shall
be liquidated i'm accordance with the
manner laid down and provided by Sec.
80 of said Act No. 267 of the General As