St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1919-11-15
transferred.

The capital stock of this compan
may be increased or decreased b
complying with teh laws of the Stat
( Of Louisiana providing for the in
crease or decrease of the stock @
corporations.
ANY stakeholder may sell, assig,
t or transfer his stock in this COR
poration provided thirty 500 day
, prio rnotice of such intention to sci
assign or transfer the same be give1
lave first privilege of purchasing
: same, after which notice the sale
stock may be sold in open market.
The capital stock of this companJ
shall be nonassessable, and transfer
able only on the books Of the com.
pany, subject, however, to the laws
relative to the delivery of stock Ger.
tifcates.
This corporation shall be authoriz-
ed to commence doing business As
soon as fifteen thousand ($15,000)
dollars of the capital stock shall have
been usbscribed for.
The board Of directors shall have
the right to determine how much
stock shall be issued.
! ARTICLE Nv.
The corporate powers Of this COM
pany shall be vested in and exercised
by a board of directors, which shall
| be composed of three stockholders of
this company. Said board of direct
ors shall be elected annually by the
stockholders on the first Tuesday Of
November in each an devery year,
| Whic hannual meeting of the stock
| holders shall be held at the Office
Of the company in jacksonville, La.
of which meeting notice shall be CIV
er by at least fifteen (15) days con-
tinuous publication Immediately pre-
| ceeding such election in the Official
journal for the Parish of st. Tam
many, La, or by at least ten (10)
days written notice to each stock
holder. The first election hereunder
shall be held on the first Tuesday Of
November, 1919, until which time
the following persons shall be au'l
constitute the board of directors of
this company, to-wit: E. J. Frel-
erick, P. A. Blanchard and M. y.
blanche. Any vacancy occurring in
the board of directors during its
ERIN of Office shall be filed by elec-
ton by the remaining members of
the board. Two CD members OF
the board shall constitute quorum
for the transaction of business and
their decisions shall be valid cor
porate acts. At each annual meet
ing of the board of directors held on
the first Tuesday of November, 1919,
and annually thereafter, the said
board shall elect from among its
members a. president, a vice-presl-
dent, a secretary and treasurer, and
such other officers as may be neces-
sary, and the said officers shall hold
Office for one year, or until their
successors are elected. Until the
first election the following are de-
clared to be the officers of this cor
poration, to-wit: E. J. Frederick,
president; M. P blanche, vice-pres.-
dent, and P. A. Blanchard, secretary
treasurer.
During the absence of the presi-
dent the vice-president shall act aid
preside.
At every election and meeting each
stockholders shall be entitled to one
vote for each share of stock regis
tered in his name, and may vote by
proxy. The election of directors
shall be by ballot, and a majority in
amount of votes cast. each sabre ct
stock voted upon to be counted for |
one vote, shall elect the person Or
persons for within they have been |
cast.
ARTICLE v.
It shall be lawful for the sto tx |
bolders OF this corporation, at gen
eral meeting convened for that pur-
pose, to make any notifications, ad-
ditions or changes in this act of in |
or to dissolve 1t with |
the assent of three-fourths OF the |
stock represented at such meetings. |
Notice of such meeting shall be given
as prescribed in Article " hereof for
tie election of directors.
ARTICLE vi.
No stakeholder of this corporation
shall ever be held liable or re-
sponsible for the contracts or faults
thereof in any further sum than the
unpaid balance due the company on
the shares Of stock subscribed for or
owned by him, nor shall any IN
in organization have the e.
feet of rendering this charter null,
or OF exposing stakeholder to aaV
liability beyond the unpaid balance,
Il any, of his stock.
ARTICLE VII.
In case of dissolution or termlna-
ton of this corporation, whether by
limitation of it's charter or from any
ether cause, the liquidation of its AZ
fairs shall be conducted by three ~
liquidators selected from the STOCK
holders of the company by a MAORI
II of the votes cast at a meeting call
ed for that purpose after notice shall
have been given, as provided III
Article w hereof for the election u
directors. Said liquidators shall re-
main in ONCE until the affairs OF the
said corporation have been FULLY
In case Of the death or
- -, ,ora of said liouidatOrS. the