The Rice belt journal. (Welsh, Calcasieu Parish, La.) 1900-19??, 1917-04-06
ARTICLE VIII.

Until the first annual stockholders
meeting, to be he'd on the first Tues
day of April, 1918, as aforesaid, the
following stockholders shall compose
the officers and directors of this cor
poartion:
A. R. McBurney, Welsh, La, Pres
ident and Director,
George w. Cosner, Welsh. La.
Vice-President and Director,
A. P. George, Welsh, La, Secretary
Treasurer and Director,
Charles F. Jeter, Welsh, La, Di-
rector,
S. NJ. Watkins, Welsh, La, Di-
rector.
ARTICLE TX.
The President or Vice Pres ident, act
ing as President, shall have power, in
the name and on behalf of this cor
poration, to authorize the institution
of any suit or any other proceeding,
after having been so instructed by the
Board of Directors. They shall, like
wise, have such other powers as are
conferred upon them by Section 16 of
Act No. 267 of the General Assembly
of the State of Louisiana for the year
1914; provided that the said powers
may be modified, limited or denied
to them by the laws of this corpora
ton or by resolution of the Board of
Directors.
ARTICLE X.
This act Of incorporation may be
modified, chal\ed or altered, or the
capital increased or decreased, in ac-
cordance with the provisions of said
Act No. 267. a.
ARTICLE XI.
No subscriber, stakeholder or trans
ferree of stock shall ever be held la
BILE or responsible for the faults Of
this corporation in any further sum
than the unpaid balance due on his
subscription or on the stock trans
ferred or held; and no transferree
shall ever be held liabe unless it be
shown that he acquired the stock with
knowledge of the conditions which
would make the subscriber liable; and
where both subscriber and trans
ferree are liable, the liability shall be
in solido, and shall continue after the
disposal of the stock. No mere in
Iformality in organization shall have
the effect of rendering this charter
null, or of exposing a stakeholder to
any liability other than as provided
in this charter.
ARTICLE XII.
In the event of the dissolution of
his corporation for any cause what
ever, it's affairs shall be liquidated
md settled by three commissioners,
appointed and acting under the pro-
visions of the act under which this
corporation is Incorporated; and
their compensations and bonds, if
any be required, shall be fixed at the
stockholders meeting at which they
are elected. They shall remain in of
Zee until the affairs of the corpora
ton shall have been fully liquidated
md closed. In case of the death, in
ability to act, permanent absence or
resignation of one or more of said
'iquidators, the remainder shall con-
tinue to act as a, full board until COM
plete liquidation has been effected.
ARTICLE XIII.
The name, amount of stock sub
scribed for, and the post office ad-
iless of each subscriber to the capt.
tai stock of this corporation, in adj
dition to the incorporators, are upon
Exhibit "A", which Isl attached to
this charter as constituent part
thereof, and same is to be read in
connection Herewith. All persons
whose names appear thereon having
by said act obligated themselves to
receive and pay for at par value the
numbers of. certificates of stock there
by shown.
Thus done and passed at my office
in the Town of Welsh, Louisiana, on
the day and date fixed hereinabove
written, in the presence of r. w.
Howard and Jim Cline, competent
witnessesA who hereunto sign with
said parties and me. notary.
A. R. McBURNEY, Welsh, La.
e. w C0SNER Walsh Ia