The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1919-12-20


and O. and other !ega- process
snal |Ue served apon the President,
am in. bis absence upon the Vice
Pr ~ thereof.
ARTICLE "
bital stock of this corpora
It'd shere5y fixed at the sum Of
Rfteen Thousand ($15,000.O0) Dol
liars, to be divided into and repre-
fsented..by one hundred fifty Q50)
'Shax6 the par value of one humid
k00) dollars each, of which
aft1 lbQ&t0 per cent
s4E'eles ss( S'i ptoy ;SSsi
that this corporations &fI be q gong
concern and author ID to do bust
Nd when fifty t5&) per cent Of
! an stock subscribed FOR shall have
been actually paid for.
!. A.cck Of thiSsSbrporation may be
sdssded at parsWpayment or exchange
for labor do k, or for money or pro-
perty acsYsdly received by the cor
porationG
No certffcate of stock shall be is
sued until the stock.evidenced thereb.
has been fully pad for, norsshall an!
certificate for less tram one % SHARE,
be issued or transfered4
! Any stock holder may sell, assign
or transfer his stock in this corpora
tion provided thirty (301 days prior
notice of such intention TO sell, assign
or transfer the sameSb be given the
company. and the other stock-holders
tLoroof hill bayaEfbe fret nrivilepc
of purchasing same. after which
thirty (30l days. notice the said stock
may be sold in open market.
: This corporation shall recognize
the exclusive right of a person regis
! tered on its books as the owner OF
shares of stock to receive dividends
and to vote as such owner, AMI shall
hold liable for calls and asses Snents
all persons registered on its books as
the sowner of shares.
ARTICLE V
The board of directors CT this cor
poration shall be comnos"d Of five
(5) stockholders thereof who, EXCEPT
those. named herein to compose the
frsttboard or elected by the board to
FL Vacancies therein, shall be elected
BY the stockholders annually on the
third Monday of January in each
calendar year. and shall hold and ex-
ercise the duties of their office until
their successors have been duly elect
ed and qualified.
All meetings of stockholders or
directors must be held at the domicile
If sail corporation; provided that
With the written consent of all direc-
| tors valid MEETINGS Of directors nav
be held outside the State, or within
ne Slate elsewhere than at is domi-
Gle.
At all meetings Of the board each
lirector Shall have one vote; and
hrce directors. present II per3on or
= rroxv. shall constitute quorum
provided that a less number shall
,.eve POWER tc fiji vacancies in the
board for its uaeXpirei time.
Each ,,irccto~ siGl have mower to
appoint ir writing a stakeholder IS
proxy to represent such director at
any meeting Of the board. such proxy
to have at such meeting all the rights
and powers of such director.
The board of directors shall be
vested with the power to hold AID eX-
Article hereof, as well as all powers
Conferred bv law upon the corpora
ion. excent Sach as may be required
BY law or b. this charter 20 be held
and exercised by the Stockholders or.
some officer of thi= coronation.
ARTICLE VI 81.
The ock-holders shall n1eet on the
bird MGR day Of January, A. D., 1921
n elect directors n su""ee6f those
chosen and named il this charte~.
and so Annually thereafter; and at
such meetinps to transact any othe.'
*usi~pes. and to do all acts required
by law.
Notice of all Stockholders reet-
;-rs other than adjourned meetings
shall be given. in the manner pre-
! -cIibod for stockholders MEETINGS,
or the election of directors, unless
+, such. notice be waived by ufarimcus
consent; p~cvided that no notice. is
recuifed where a meeting is adieurn-
ed to gwen dp-.
The officers Of this corporaticn
shall be'a President. aviee- Presifr.
ard SecretarH treasurer, who ISL
also be nraMset.G
The board of diTectors shall ~
ally elect from the number Presi-
dent. a Vice-Preside4tf and Secre-
ary-Treasurer, who %nH also sbe
manager all of whom - ~ hold %
flee until their succeu are. duay
elected and qualified. -
The directors may 6int Qther
agents and employees, w <dqA re-
spectively have such powe ~ PIE
form such duties as may BE fescrIb-
ed by the bylaws, and who kpay be
removed as provided in the bylaws.
Vacancies Of agents and e;pklcSees
shall be filled as provided in tie by
laws.
No Stakeholder shall q 81 be held la
BILE or responsible for contracts or
faults of this cooperative IN any fur