The Palatka news and advertiser. [volume] (Palatka, Fla.) 1908-19??, 1917-07-27

orw business until 1t shali naVe tboreof
letters pat stised u conv of said charter re-
corded in the Office of the Clerk vi 49, win
ovit Court for the county wherein tne p PHI,
cipal place of business IS stota and with the
Te ~ the Circuit Court duplicate alliud
ita ~ u its treasurer that s25,OO0 OF lts cap,
tai stock has been duly suoSo'i'e'
been paid for in cash. oro e,ected the
Sac Until the directors are electeddj; one
eieners of the charter shall nave tne ~ seid
tion of the affairs and orgahiha..o" tons as
c,vr tion and shall take such steps ao
corpor uoner "a obtain subscriptions to the
cornorate stock and complete tne VI az aH
tinn Of the corporation. The business vi "
cry cry, ep ha po managed BY a Board Of not less
Iban three directors, who shall De eIec'eu ~ ~,
tba stockholders and shall hold once UNI,
their successors are respectively electea h h,iu
ouoIieed The number of the directors sna .
he fxed BY the charter, but may pc cntns ~
Increased or diminished at any time og Jne
Stockholders and there snail De no .hot
tion on the number of directors except Ina
thnre shall never be less than three direct
ors The Board Of Directors may oy les '',,a
ton designate three or more ,' ol onmmittee,
her To constitute an executive collIiittI.e'
Who +o the extent provided in such reSolu
lion or bylaws of the company. shaii ,I ~,
and exercise the powers OF the boara VI % tba
rectors in the conduct and mangement VI rn5
business and affairs of the corporatior' any i
shall have the power to authorize :, ,ne nors
NJ the Company to be affixed to an papeas
te reg dirsctors NAV be divided into two or
more classes, each class to hold office for
such period as may be therein prescribed
Sec I Every corporation organized under
This Act shall have President, one or more
vice presidents. a Secretary and Treas
urer. who shall be chosen by the Direc.0rs
as and when the bylaws may direct the
bylaws of said corporation may provide FOR
as many Vice Presidents as may be deslreu'
The corporation may have such other OIL
GERS agents or representatives as may ne i
rho Gha
such manner and hold their Offices for such
terms as may be prescribed by the bylaws,
or in the absence Of the bylaws then ny
the Board Of Directors. The failure TO eject
anv officer of this corporation at the time
prescribed by law or by the certificate of m
corporation or bylaws shall not dissolve
or affect the validity of the corporation Any
vacancy occurring In the office of any officer
by death. resignation, removal or otherwise,
shall be filed as provided for in the bylaws,
or in the absence of such provision, ny the
directors It shall not be necessary for the
President Vice President Secretary and
Treasurer, or any OF them to be members OF
the Board Of Directors
Sec, g. The first meeting Of the corpora
ton shall be called by notice signed by
majority of the subscribing incorporators;
designating the time place and purPG2SS eho OF
once a week for at least two weeks before
such meeting in n newspaper published in
the county where the corporation has It's
principal place Of business, but said suoscrib-
ing ncorporators may waive such notice and
in writing fix the time and place of such
meeting without such publication
Sec Q. Every corporation organized I'M
der this Act shall have the power to create
two or more kinds Of stock Of such classes,
with such designation preferences or voting
stated in the certificate Of Incorporation.
The power to increase or decrease stock shall
apply to all or any Of such classes Of stock.
At time shall the total amount OF pre-.
raid-n capital Such preferred stock may.
If desired he subject to redemption at not
less than par at a time and price to be
stated in such stock certificate. IN no event
shall the holders of any stock Of any such
corporation organized under this Act, OF
whatever character or class be personally IL
able for any Of the debts Of such corporation
All stock Of every kind Of any corporation
organized under this Act shall be issued for
cash only.
Sec 10. Every corporation organized UNI
der this Act shall have the power, in addi-
tion to the provisions contained In the char
ter thereof for the regulation Of the bust
ness and conduct Of the affairs Of said cor
poration and creating limiting, defining and
regulating the powers of said corporations
to hold conduct and operate State live
stock, agricultural, horticultural or other
from time to time and for that purpose to
buy, lease. acquire and occupy lands, and
TO erect buildings and improvements Of all
kinds thereon. and to develop the same, and
to sell. mortgage. lease or convey such prop
erty or any part thereof in It's discretion
from time to time, and to charge and re-
CelNe compensation Tor admission to such
fairs or expositions and the sale or renting
Of space for exhibition or other privileges
and to conduct and hold public meetings to
supervise and conduct lectures and demon
stratton work in connection with or for the
Improvement Of agriculture. horticulture and
stock raising and all kinds Of farming and
matters connected herewith to hold exhib-
its Of agricultural and horticultural prod
ucts live stock chickens and domestic ami
mails and TO give certificates or diplomas of
excellence, and generally to do perform and
1nry
usual proper In connection with State or
county fairs or expositlons: but this enumer-
alton Of particular powers shall not be In
derogation OF or limit any special provision
Of the charter of such corporation inserted
for the regulation Of its business and the
conduct OF its affairs. or creating, defn-
ing. limiting and regulating the powers Of
the corporation It's directors stockholders or
any class OF stockholders
Sec IL. Nothing In this Act shall be
held or construed to authorize or permit any
conduct, supervise permit or suffer any
gambling or game of chance lottery. bet
ting or other Act in violation Of the criminal
poration organized under this Act which
shall violate any Of said laws or which shall
knowingly permit the same TO be done shall
be subject to forfeiture Of Its charter: and II
any citizen shall complain to the Attorney
General that any corporation organized I'M
der this Act was organized for or Is being
used as a cover to evade any of the laws Of
Florida against crime and shall submit
prima facie evidence to sustain such charge
II shall be the duty OF the Attorney General
the final Judgment such proceedings as NAV
he necessary to annul the charter and letters
patent Of such corporation, and wrlts Of In
junction or other extraordinary process shall
be issued by courts Of chancerv on the an
plicaton Of the Attorney General on sworn
bill of complaint pending any such annul-
nent proceeding and in aid thereof and all
such cases shall be given precedence over
all civil cases pending in such courts and
shall be heard and disposed of with as lit
tie delay as practicable
Sec. II. Once each year complete audit
" the books and accounts Of every corpora
ton organized under this Act shall he made
by or under the direction OF the Comptroller
IT the state Of Florida at an expense In said
corporation not to exceed 800 for such ex-
The Comptroller shall also have
The power to make such additional aufits
If the books and accounts NJ said cornora-
ton from time to time as he may deem
proper upon the application of any creditor
or stakeholder Of any such corporati0n ar
'ompaned by cash deposit Of nor less
han 800; but no such examination shall he
made upon the application OF a creditor or
stockholder unless in the Judgment Of the
comptroller the same shall promote tho hest
interests of the corporation It's creditors and
'tockholders The results NJ all such audlts
shall be kept on file in the office Of tho
,omptrolier and one copy certified by him
corporation, who shall at the request Of any
'tockholder or creditor exhibit the same for
Inspection. The Comptroller shall furnish
'tockholder or creditor applying therefor
lpon the payment OF the same fees IS pro-
,Crihed ny law for certified copies made bv
Jerks OF the Circuit Courts Wy
Sec, 10 The right IN amend alter nodi-
Y or repeal this Act is hereby reserved by.
he state Of Florida. and any corporation
organized under this Act may avail Itself
VI any amendment ~ this Act
IA