The Ocala banner. (Ocala, Marion County, Fla.) 1883-194?, 1920-09-03


or the State of Florida at the CAPITOL.
IN Tallahassee, Florida, for letters
patent upon the following proposed
charter of
The Farmers Cooperative Association
OF Marion County
fSigned)
H. L. Shearer,
F. H. Meffert,
G. A. Waters,
A. s. Pickett.
The proposed charter of said cor
poration is as follows:
ARTICLE
SECTION 1. The name OF this cor.
poration shall be THE FARMERS
COOPERATIVE ASSOCIATION OF
ARION COUNTY.
tSECTION 2. It's principal place OF
business shall be at Ocala, in Marion
county, Florida, but it may establish
such other place or places Of business
within the State Of Florida as it may
deem proper.
ARTICLE II
SECTION /. The general nature of
the business or businesses to be trans
acted by this corporation is as fol-
lows:
To engage in and carry on a general
wholesale and retail merchandise
business, such as buying. selling and
shipping, and to engage in and carry
on any and all other trade of mer-
chants. on the profit-sharing, coop
eratiya plan; and to instruct its mem
Ders, Its patrons and the general pub
Tic on the principles Of cooperation
In business.
To buy. sell and otherwise deal in
real estate and TO act as real estate
agents or brokers; to own, operate
and maintain all kinds of agricultural
and horticultural enterprises: to buy,
sell and otherwise deal In all kinds Of
farm products and any other personal
property; TO contract and be contract
ed with I'm reference to any OF the
legitimate purposes for which the
corporation is created: to carry on
any other business whatsoever which
the corporation may deem proper or
convenient 20 be carried on In con-
necti0n with any OF the foregoing pur-
poses, or calculated directly or in
directly 10 promote or enhance the
value Of its property. or TO promote
che principles of cooperative bust
ness. 10 loan money for itself or
others. taking such security as IL may
deem proper. and 20 act as trustee.
agent or receiver.
Without In any way limiting or
restricting any OF the objects and
powers 0f the corporation. IL Is here
81 expressly declared that the corpor-
alton shall have power TO issue bonds
and other obligations In payment for
nroperty purchased or acquired by IL.
smoney borrowed. or for any other
lawful object In and about its bust.
meas. Co mortgage or 90 pledge any
property which may be acquired by
a.; % acquire any bonds. guarantees
or other obligations By Il issued or
incurred 60 make and perform con-
tracts 81 every kind and description:
and in carrying on its business. for the
purpose az attaining or furthering any
~ les objects or purposes. 60 do an'
,and al other things and exercise any
fsnd az other powers whish now OF
hereafter may be permitted by law.
ARTICLE IN
SECTION 1. Each stakeholder OF
this corporation shall be- man or
woman az good moral character aud a
member Of the Farmers Educational
and Cooperative Uni0n OF America.
ARTICLE ~.
SECTION 4 The capital stock OF
this corporation shall be Twenty
Thousand gS2a 0oa 0ol Dollars. which
shall b. divided into Two thousand
liz 08ol shares 0f the par value Of Ten
DniiaFs $40 eel each. the same 90 be
paid a. such times and I'm such
amounts and iu such ways as the
naara 81 Directors may prescribe A
pafi nf such capital stock. 90 be fixed
81 the Hoard 90 Directors. may be
paid ln property. labor or services. at
4 iusf valuation 20 be fixed by the
nnard 90 Directors at q meeting call
81 Coz such purpose. No member
shall bold more than Two Hundred
lsgal shares ~ the stock % the cor
pofatton
SEXTON g shares % stock shall
81 nor aaseaaahie and shall be non.
transferable except by being sur.
rendered % the corporation. and new
shares heiuR issued % the purchaser,
Who 81 accepting the same agrees 20
submit aud adhere 90 al the bylaws
aud rules ~ the corporation.
SECTION 81 THIS corporation re-
serves the right o. purchase any and
ail shares Of stock that are offered for
sale. and shall have the power TO pass
on tha aceeptability aud qualifications
! nuf membership Of any would-be pur.
chaser
SECTION 4. No certificate OF stock
shall b. valid unless signed by the
President or the Nice-President and
che Secretary.
ARTICLE V
SECTION 1. A Board OF Directors.
seven in number shall be elected by
the stock holders. By ballot. at their
regular annual meeting in January OF
each year. aud each member OF such
Beard shall hold office FOR one year
OF until his successor Is duly elected
No one may pa considered elected as
a member ~ the Board Of Directors
who receives less than a majority of
81 the votes east.