New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1915-07-24
CHARTER OF
THE CHAIN OIL COMPANY, INC.
State of Louisiana, Parish of iberia.


Be it known that on this 1sth day of May A
D. 1915, before me, Alpbonse DAVIS, Notary
Public, in and for the Parish of iberia, State Of
Louisiana, duly commissioned and qualified as such
in the presence of the undersigned competent wit
nesses, personally came and appeared, the several
persons whose names are hereunto subss roed who
declare that they desire avail themselves of Act
,67 of the Acts of the General Assembly Of the
State of Louisiana of 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
corporation and body polite in law together with
all persons who may thereafter become associated
with them, and to cluire the rights ant powers
| OF body corporate, they do thereb by form them
selves inso corporation under the name and style
and for the purpose hereinafter set forth.
ARTICLE I.
| The name and title of this corporation shall be
"The Chain Oil Company Company Inc" and
/ it, domice 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 ract, and to be sued
and TO make and use corporated sea and the same
to break and alter AZ pleasure, and to hold receive,
purchase, mortgage or convey under It's 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 ana 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 out
| the objects and purposes of this corporation.
Said corporation less sooner dissolved shall
exist for period of thirty years
| Service OF citation, other legal process shall
be made in conformity with the existing laws gov
erning the corporations in this State.
ARTICLE :.
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, may lease 70 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 I'M
dertake all works and make all contracts to that
end as may be necessary, and to sell or otherwise
dispose Of such products 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-
sary and conducive and to the bene1t of said COR
poration.
ARTICLE
The Capital Stock shall be Fifteen Thousand
| Dollars $4,000 oo) divided into Six Hundred
| (6oo) shares of the par value of Twenty Five
Dollars 5, 90 eaeh which stock shall be paid
for in cash at the time of its subscription, or in
such nstalments as the Board may direct, stock
may be issued in exchange for property rights
actually received or purchased by the corpora
tion or 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 OF
responsible for the contract failure of said cor
poration, in any further than that provided by
law, nor shaany mere informally in the org4niza-
tion have the effect Of rendering said charter null
or expose said stock holders any liability, other
than that specified by law.
| Fifty per cent Of all stock subscribed for must
be actually paid in before the corporation engages in
| bus ness, and the remainder within Twelve month.
the eater 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 Dollar,
(s4o, 900 90.
The Board of Direc shall have the power
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-
tons as the affairs of the corporation may re-
quire, employ such lsborers, 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 corporate powers of this company shall be
vested in and exercised BY Board of Seven diree-
tors, Four of which shall constitute quorum, for
the transacting of business. There shall be elected
| from the Board of Directors, President, 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, Adeline, La; DR.. PAUL. NJ.
Cyr, Vice President, Teanerette, La H. ].
Smith, Secretary, New iberia, La; J. g. Brous-
sard, Treasurer, St. Martinville, La; Robert c.
| Taylor, New iberia, La; 1 s Wooster, Center
vile, La and F. E. Delahoussaye, ST. Martnville,
La At every election and meeting of the Stock
Holders, each stock holder .ha be entitled to one
vote for each share of stock owned by him; vot-
ing BY written proxy shall be allowed under the
provisions of Section 4 of said Act 167 of the
year 1914.
ARTICLE 8.
Stockholders meetings for the election
of Directors shall be held annually on the
first Monday in June, at the domicie of
the corporation; notice thereof shall be
delivered personally by deposting in the
Post Office, to the proper address to each
stakeholder, announcement thereof at
least fifteen days O5) before the
meeting. At least two days (2) before
said meeting complete list of the stock
holders entitled to vote, shall be open for
inspection by the stockholders, at the
place of said meeting, all other meetings
of stockholders may be conducted in &C
cordance with section 10 of said Acts 267
of the year 1914.
ARTICLE