St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-03-08

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be Increased to sum not to exceed
twenty-five Thousand ($25, 0OO.0O)
Dollars, at the pleasure of the Board
OF Directors, in which event during
the period between the call for the
meeting for such increase and the
meeting, the person holding stock at
the time sahll have the right to take
shares OF the additional or increased
stock proportionate to the number of
shares owned by him, and any shares
not taken at the expiration of said
period may be disposed of by the
Board of Directors, for the benefit of
the corporation at not less than theft
par value. No transfer of stock shall
be binding upon the corporation I'M
less recorded upon the books.
ARTICLE V.
All the corporate powers of this
corporation and the management and
control of it's affairs shall be vested
in and exercised by a Board of Direc-
tors composed Of three 60 stock
holders, a majority of whom shall
constitute a quorum for the transac-
ton Of all the business. The Direc-
tors shall be elected annually by bal
lot by the stockholders, on the third
Monday in January of each year.
Each stockholder shall be entitled in
person or by proxy to vote for every
share owned by him, and ali cleo
tons shall be held under such rules
and regulations as may be determin-
ed by the Board of Directors, the
Directors thus elected shall continue
in office for one year, or until their
successors have been duly elected and
qualified. No failure to elect shall
be regarded as O forfeiture of this
charter. Any vacancy occurring on
said Board shall be filled by the re-
naming Directors for the unexpired
term.
The Board Of Directors shall, OF
its first meeting after it's election,
nominate out of its number a Presi-
dent, O. Vice-Prssident and a Secre-
tary-Treasurer; said Board of Direc-
tora may elect a Secretary-Treasurer
who need not be stakeholder, but
whose tenure Of office shall be during
the pleasure of the Board. And said
Board shall have the right to ap-
point and dismiss the Clerks, Man
ayers, Secretary, and other en-
ployees of the corporation as the in
terests and business of the same may
require. Any Of the Directors shall
have the right 20 appoint by written
instrument, another Director as his
proxy, to act in his stead at any and
all meetings of the Board Of Di-
rectors.
ARTICLE VI.
Until the election of officers to be
held on the third Monday Of Janu-
airy, 1920, the following named per-
sons shall constitute the first Board
of Directors, viz: George H Koepp,
Folsom, La; Hardin M. Bigelow,
Folsom, La, and Edward A. Koepp,
jacksonville, La, with George H. |
Koepp, as President; Hardin NJ
Bgelow, as Vice-President; the Sec
retary-Treasurer to be elected by the
Board Of Directors.
ARTICLE VII.
No stakeholder shall be liable or
responsible for the contracts, faults |
and debts Of said corporation, nor
shall any mere informa1ity in its or
ganiZation have the effect of render |
ing this charter null and void or of |
exposing a stakeholder to any liabiIi-
ty beyond the unpaid balance due on
the shares owned by him.
ARTICLE VIII.
This act of Incorporation may be |
hanged modified or altered or this |
corporation may be dissolved with |
he assent of the stockholders own
1g two-thirds of the stock of the |
orporation, at general meeting |
onVened for that purpose, after at
east fifteen (15) days written notice
f this meeting having been given at
lis last known place of residence.
In case of dissolution by the ex-
1iration Of this charter or otherwise,
he stockholders shall elect two az
Iiquidators from among their num-
Der, to liquidate and settle the bust
ness and affairs Of the company.
In case Of death or disability of
any OF said commissioners or liqui-
lators, the survivors or the remain
ing iiquidators shall appoint a sue
lessor to him.