The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-01-03
ARTICLE "

ARTICLE "
The capital stock Of this corpora
ton is hereby fixed at the sum OF
Fifteen Thousand ($15,000.00) Dol
lars, 20 be divided into and repre-
;ented by ore hundred fifty (150l
shares Of the par value of one humid
red (S100.00) dollars each, of which
as much as fifty (502c) per cent
must be subscribed before filing these
articles of INCORPORATION; provided
that this corporation shall be going
concern and authorized to do bust
ness when fifty (50%) per cent Of
all stock subscribed for shall have
been actually paid for.
Stock of this corporation may be
issued at par in payment or exchange
for labor done, or for money or pro
perty actually received by the cor
poration.
No certificate Of stock shall be is
sued until the stock evidenced thereby
has been fully paid for, nor shall any
certificate for less than one % share
be issued or transferred.
Any stakeholder may sell, assign
or transfer his stock in this corpora
ton provided thirty 800 days prior
notice of such intention TO sell, assign
or transfer the same be given the
company. and the other stockholders
thereof shah have the first privilege
IF 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 person regis
tered on its books IS the owner of
shares Of stock to receive dividends
and to vote as such owner, and shall
hold liable for calls and assessments
al persons registered on it's books as
he owner of shares.
ARTICLE v
The board of directors of this cor
poration shall be composed OF five
49, stockholders thereof who, except
those named herein to compose the
first board or elected by the board TO
fill vacancies therein, shall be elected
by the stockholders annually on the
third Monday of January in each
calendar year, and shall hold and ex-
erclse the duties Of their office until
their successors have been duly elect
ed and qualified.
All meetings of ck-holders or
directors must be held at the domicile
of said corporation; provided that
with the written consent o. nj direc-
tors valid meetings of directors may
be held outside the STATE, or within
the State elsewhere than at its domi-
cile.
At all meetings CT the board each
director shall have one vote; and
three directors. present in person or
by nroxy. shall constitute a quorum
provided that a less number shall
have power to fill vacancies in the
board for its unexpired time.
Each director shall have power to
appoint in writing a stakeholder as
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 and ex-
ercise all the powers enumerated in
Article | hereof. as well as all powers
conferred by law upon the corpora
ton, except such as may be required
bv law or by this charter to be held
and exercised by the stockholders or
some officer of this corporation.
ARTICLE vi
The stockholders shall meet on the
third Monday of January, A. D., 1921
to elect directors to succeed those
chosen and named in this charter,
and so annually thereafter; and at
such meetings to transact any other