St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1918-10-05

any Su8TeS not CeAou ~ Iu0 oApAId-
ton of said period may be disposed
Of by the Board of Directors, for the
benefit of the corporation, 1t not
less than par value. No transfer Of
stock shall be binding upon the cor
poration unless recorded upon the
books.
ARTICLE v.
All the corporate power1 OF this
corporation and the management and
control Of its affairs shalt be vested
in and exercised BY . Board Of d.
rectors composed of three (3) stock
holders, q majority Of whom shall
constitute q quorum for the transac-
ton Of all Of the business. The d.
rectors shall be elected annually by
ballot by the stockholders, on the
third Monday in September Of each
year. Each person shall be entitled
to vote for every share owned BY
him, and all elections shall be held
under such rules and regulations -
may be determined by the Board Of
Directors. The Directors thus elect
ed shall continue in ONCE for one
year, or until their SUCCESSORS have
been duly elected and qualified. NO
failure to elect shall be regarded -
a forfeiture Of this charter. Any Va
cancy occurring on said Board shall
be filed by the remaining Directors
for the unexpired term.
The Board Of Directors shall, At
ita first meeting after its election,
nominate out Of it, number Z Presi-
dent, q Vice4President and . Socre-
tary-Treasurer; said Board shall have
the right to divide the ONCE Of Soc
rotary and Treasurer and may elect
a Secretary who need not be Z stock
holder, but whose tenure OF Office
shall be during the pleasure Of the
Board. And said Board shall have
the right to appoint and dismiss the
Clerks, Managers, Secretary and
other employees Of the corporation
a. the interests and business Of the
same may require. Any Of the Di-
rectors shall have the rigth to ap-
point by written instrument another
Director 40 his proxy. to act in his
stead at any and all meetings Of
the Board Of Directors.
ARTICLE vi.
Until the election Of o@cers to be
held ON the third Monday in Sep
TENDER, 1919, the following named
persons shall constitute tho lirst
Board Of Directors, viz: John +.
Coney, postofice Hazelhurst, Miss,
jeremiah Cooley, postomce Onville.
La, and Henry E. Coney, postomce
Onville, La, with said John T. Coney
as President. Jeremiah Cooley Is
vice-President. and Henry E. Coney
as Secretary-Treasurer.
ARTICLE VII.
No stakeholder shall be liable or
responsible for the contracts. faults
or debts Of said corporation. nor
shall any mere informality In its or
ganization have the effect Of render
ing this charter null or Of exposing
a stakeholder to any liability beyond
the unpaid balance due on the shares
owned by him.
ARTICLE VIII.
This act Of incorporation may be
changed, modified or altered or this
corporation may be dissolved with
the assent of the stockholders own
ing two-thirds of the stock OF the
corporation, ct q general meeting
convened for that purpose and after
at least ffteen (15) days written
notice OF this meeting having been
given through mail, addressed to
each shareholder at his last known
place of residence.
In case of dissolution by the ex-
piration of this charter, or otherwise,
the stockholders shall elect two 90
liquidators from among their num-
Der, to liquidate and settle the BUSH
ness and affairs Of the company.
In case of death or disability OF
any OF said commissioners or liQuf-
dators, the survivors or the remain
ing liquidators shall appoint = sue
cessor to him.
Thus done and signed in my ONCE
on the day, month and year drst
above written, In the presence Of
]. E. Nilsson and 8. n. Burma, con-
petent witnesses, who have signed
with said appearers, and me, said