New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-02-07

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suance.
Every sale or transfer of the capital
stock. of the corporation shall be made on
and on the surrender of the certificate
therefor a new certificate shall issue to
the proper holder Thereof.
The capital stock of this corpora ton
NAV be increased to Seventy Thousand
Dollars, (S70,0000O) in the manner pro-
vided by law.
This corporation shall commence do
ing business as soon as the capital stock
thereof shall have been subscribed as re-
quired by law and by this charter and
paid in.
The names and post office addresses
of the subscribers of the articles of IA
corporation, and the number Of shares
each agrees to take are as follows:
J. E. Broussard, Loreauville P o., Ibe-
ria Parish, La, II shares.
Rules Broussard, Loreauvills P. o.,
Iberia Parish, La, II shares.
Raoul Broussard, Loreauvile P O.,
Iberia Parish, La, 10 shares.
ARTICLE v.
The corporate powers of this corpora
ton shall be exercised by board Of
three directors who shall be stock hold
ers in this corporation and who shall be
elected by the stock holders annually at
a general meeting to be held on the Seq
ond Tuesday of the month of December,
and the said board shall have and is
hereby vested with all the corporate pow
ers of this corporation subject only to
such restrictions as may be herein men
toned.
From the said directors, there shall &c
elected annually a President, Vice
President, and Secretary Treasurer of
the said corporation. The following per-
sons, each of whom are who each declare
themselves to be bona-fide owners of at
least one unpledged share of stock in this
corporation, shall constitute the first
Board of Directors, to-wit:
J. E. Broussard whose Post Office
address is Loreauville, Iberia Parish,
State of Louisiana; Rules Broussa-d
whose Post Office address is Loreauville,
Iberia Parish, State of louisiana; Raorl
Broussard, whose Post Offire address is
Loreauville, Iberia Parish, State of Lou
isiana.
The said Board of Direntors above
named shall continue in office until their
successors era elected, each board of di-
rectors at the first meeting after their
election, shall elect officers for the corpo-
ration as herein above provided, who shall
likewise hold office for one year.
The President of this corporation Is
hereby declared to be ]. E. Broussard,
of Loreauville P. O., Iberia Parish, State
of Louisiana, its Vice President Rules
Broussard, whose post office address is
Loreauville, iberia Parish, State of Lo.-
isiana; and its Secretary Treasurer,
Raoul Broussard, whose post office ad-
dress is Loreauville, Iberia Parish, State
of Louisiana.
Notice of stockholders annual meeting
must be delivered personally or by de-
posting the same in the Post Office
properly addressed to each stakeholder at
least fifteen days before such meeting,
other stockholders meetings may be held
when ordered by the Board of Directors,
Or the holders of at least twenty-five
per cent of the outstanding stock after
notice as aforesaid.
The Board of Directors shall appoint a
to act as commissioner of
elections at board of directors, and in the
event of the said commissioner failing
to be present at the time fixed for meet
ng, the President shall appoint another
in. his stead.
Failure from any cause to elect direc-
tors on the day named for the purpose,
will not dissolve this corporation, but the
directors in office, as we'll as the other
officers of the company, shall hold over
Until their successors are chosen. In such |
went the President shall cause another |
election to be held within thirty days
ind at date and hour named by him,
irving the notice to the stockholders as
equired by law.
AT every election and meeting each
tockholder shall be entitled to one vote
or each share Of capital stock of the
orporation standing in his name, and he
nay vote such stock by written proxy
.iven to any person to represent him at
UGH meeting. The election of directors
hall De by ballot and the majority of tee
mount of votes cast shall elect the per-
on or persons for whom they have been
asst
ARTICLE vi.
The Board of Directors shall frame AMI
dept such bylaws and rules and regula-
ions as the affairs and business for the
onduct and management thereof, pro-
ided the same shall not conflict with this
narter, appoint such agents, employees,
srvsnts, and clerks as it may deem
roper fixing their compensation and
'rms of service and dismiss them at
leasure. It shall have the right to fix
nd determine the salaries of the sew
-al officers and employees herein pro-
ded for. Amy director may appoint
mother director or shareholder to actl
I'D vote for him on all matters coming
efore any meeting of the board.
ARTICLE VII.
No share holder shall ever be held
able or responsible for the contract or
ults of this corporation in any further
i'm than the amount of his indebtedness
the corporation, nor shall any mere ,
formality in organization have the eff
ct of rendering this act null or Of ex-
'sing any share holder to any liability
'yond the amount of his or her shares. ;
ARTICLE VIII.
This corporation shall have, enjoy and ;
II