The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1919-06-14

designate.
No stock shall be transferred except
on the books of the corporation, and the
person to whom shares are transferred
shall receipt for same.
| On the death of any stakeholder, his
| legal representative shall be entitled 10
assume control of aud transfer said
stock to name.
STOCKHOLDERS MEETING.
Stock holders meetings for election Of
Directors shall be held annually as pro-
vided in the charter, at the domicile of
the corporation, and notice thereof
must be delivered per sonally or by de-
posting in the Post Office, properly adj
dressed to each stakeholder at least
/ fifteen days before such meeting. at
least two days before said meeting. a
complete list of the stockholders entitled
to vote, shall be opened to inspection
| by the stockholders at the place of said
meeting,
Other stockholders meetings may be
held when ordered by the Board OF
Directors or the holders 0 twonty five per
cent of outstanding stock. Notice 10 a ]
| stockholders meetings other than ad
! jnurned meetings, shall be given in the
manner prescribed for stockholders
meetings for the election of Directors,
unless such notice be waived by unani-
nous consent, provided that no notice
is required when such meeting is adj
journed to a given date.
AT all meetings OF stockholders, each
stakeholder shall be entitled to one vote,
to be cast in person or by proxy, upon
all questions Of amending the act of
corporation, increasing or decreasing
the capital stock, or dissolving the COR
porarion; upon all other questions pre-
sentng themselves at any stockholders
me- ting, each stakeholder shall be en-.
titled TO one vote tor each snare OF
stock held by him, to be cast in person
or by proxy, up TO the amount OF ten
votes and no more, regardless of the
number of shares by him owned in eX-
cess of ten shares.
ARTICLE V.
BOARD OF DIRECTORS.
All the powers of said corporation
shall be vested in and exercised by
Board of Directors, to be composed OF
not less than three nor more than niue
10 stockholders, to be elected annually,
on the first Monday u April Of each
in this charter, vino shall hold their
office until the first Monday in April,
1920, The stockholders before proceed
ing to elect Board of Directors at each
annual meeting, shall fix the number
thereof, within the limits above pre-
scribed, a majority OF wnom shall con-
stitule quorum. All such elections
shall be held by ballot and conducted at
the office Of said corporation under the
supervision of three commissioners, t.
he appointed by the Board Of Directors.
Any vacancy occurring among the
Directors by death, resignation. or
otherwise, shall be filled by election for
the remainder OF the tern by the re-
naming Directors. Failure 70 elect
Directors upon the date above specified
shall not d ssolve the corporation nor i'm
pair its cJrporate management, but the |
Directors theu in Office shAli rem tln |
in office until their SUCCESSORS are elect |
ed and qualified. The Board of Dlrec.
tors shall elect from AIN ing their mum
Der President, Vice PRESIDENT, u |
Secretary aud Treasurer (the office of
Secretary and Treasurer can be held by |
one and the same personl. The Board |
may from time to tine appoint all such |
officers and agents as they my deem |
necessary for the purpose and business |
of the corporation. They snaI have |
power TO fix and define the duties and |
upwers OF all other officers and en- |
ployees. ami Tx the Salaries of same, |
and all officers au employees snlII |
h I'D office and employment at the plea !
sure of the Board. fne Boird my
make aud establish, AS well AS Al ter and |
amend aay and Mi Dy-lrws. rules and |
regulations necessary aud proper in its !;
III .gment for the coniuct, support aud |
management of the business and affairs
of said corporation. Tue Board shall !
have full power aud authority to borrow or
loan money, t, execute AID receive |
mortgages and liens, To issue bonds, !
notes and other uoiior, 'ns, TO Create |
servitldes AMI generally to do all things |
reasonable, c)nvsnielb aui nccessar,
for the proper cArry in5 on OF the BUSH !
ness of the corporation. Every Direc- !
tor in the case Of his absence from the
Parish of St. Mary, or State of Louisl-
ana, shall have the power and authority
to appoint, in writing, stakeholder,
or any member of the Board Of Direct
ors, of the Company, us his proxy, to
sit in his lieu and stca at all meetings,
OF the Board Of Directors, aud To reprc-
sent him at sucn meeting, as fully AS
though ho him self We're present. ouca
proxies must be filed with the Secretary
of the Company.
ARTICLE vi.
LIQUIDATION.
Whenever this corporation mly be dis |
solved, either by iint,tlol, or any other
cause, lis aft airs shall DC lqn.datel by