St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1920-02-28
ARTICLE v.

corporation and the management and
control of its affairs shall be vested
in and exercised by Board Of Di-
rectors Of five 90 stockholders, to Z :
be known as Directors. Thee
shall be no quorum of the Board
Of Directors authorized to do bust |
nessunelss majority of 1the mem
bers be present In person or by
proxy, and in addition represent
the majority OF the shares of stock
individually or by proxy. Any Di-
rector shall have the right to ap-
point, by written instrument, another
Director as his or her proxy to act in
his or her stead, at any and all meet
ings of the Board Of Directors. The
Board of Directors shall have tho
power and authority to make such
bylaws, rules and regula tions as
may be necessary for the proper man
agement of the affairs of this cor
poration and to amend and change
the same as they may deem proper.
provided the same shall not conflict
| with the provisions of this charter,
nor with the laws of the State Of
Louisiana, nor with the laws Of these
United States of America, and shall
haze the power and authority to pro-
vide for and contract debts, borrow
| money, issue bonds, drafts, notes, &C
ceptances and other evidences of IN
debtedness and to execute and accept
pledges, mortgages, deeds and other
| acts. 1t shall have the right to ap-
point and dismiss the officers and
employees of the corporation, as the
| interest and business Of the -eaus
| may require and to fix the amount Of
| their compensation and the time and
manner OF the payment thereof.
And they shall have the right, power
and authority to fill any vacancy
arising in their number and to do all
other things incident to the objects
: and purposes of, the corporation anu,
to vest the president or other officer
or officers with such Of these powers
as they see fit.
ARTICLE vi.
The first election of the Board OF
| Directors under this charter shall
| be at meeting OF the stockholder
to be held on the first Tuesday il
November, 1920, at the office Of the
corporation at Madtsenville, paris.
of st. Tammany, State of Louisiana.
and thereafter the stockholders shat.
hold meeting annually on the first
Tuesday in November each year al
the Office of said corporation, trans
act any business coming before them,
and elect a Board OF Directors.
Notice of stockholders meeting shaI.
be given in writing, by mail, address
ed to each stakeholder at his usua.
place of business, fifteen (15), days.
prior to the date Of such meeting.
The election of the Board OF Direct
ors shall be by ballot, under such
rules and regulations as may be de-
termined by the Board Of Directors,
and each stakeholder shall be entitl-
ed to one CD vote, either In person
or by proxy, for each share owned by
him, and majority of the votes shall
elect such person or persons fO-
whom they are cast. The Directors
thus elected shall continue in 0fflcs
for one ID year, or until their sue
cessors shall have been duly elected
and qualified. No failure to elec-
shall be regarded as a forfeiture OF
this charter. The Board OF Directors
shall at its first meeting after its
election, out of its own number, elect
a President, Vice-President and Sec
Iretary-Treasurer. These officers shall
hold office until their successors are
duly elected and qualified. Said
Board of Directors, or it's successors,
may, if they desire, sub-diVide the
office of Secretary-Treasurer into two
(2) offices, that Of Secretary and
Of Treasurer.
ARTICLE VII.
Until the election to be held on
the first Tuesday of November, 1920.
the following named persons, stock
holders of this corporation, shall
constitute the first Board Of Directors
of this corporation, viz:
Mr.. Harry U. Hayden, postoffice
Madisonville, Louisiana; and Mr..
Paul A. Blanchard, postotf1ce Madi-
sonville, Louisiana; Mr.. Thomas H.
Hayden, postoffice Madisonville, Lou
isiana: Mr.. Samuel ]. Blanchard,
postoffice New Orleans, Louisiana;
Mr.. Geo. A. Mire, postof1ce Madison
vile, Louisiana.
With the said Mr. Harry U. Hay
den, as President; and Mr.. Thomas
H. Hayden, as Vice-President; AMI
Mr.. Paul A. Blanchard, as Secretary
Treasurer.
ARTICLE VIII.
This Act of Incorporation may, be
lchanged, modified or altered, or this
corporation may be dissolved, or
liquidators may be appointed there
for, as provided by Sections %, 20
and 80 of Act 267 of the Acts of tho
General Assembly of the State o.
Louisiana for the year 1914, "a and
other existing laws. =
ARTICLE TX.
No stakeholder of this corporation
shall ever be liable for or re-
|sponsible for the contracts, faults,
debts or failure Of this corporation.
in any further sum than the runpaii
balance due said corporation on
shares subscribed for and owned BY
the said stockholder; NOE shall any
informally in the organization OF
this corporation have effect OF req
4 dering this charter null or of expos
ing a stakeholder to any further
| liability beyond the unpaid balance
due on the shares of stock owned oy
| him.
Thus done and passed at my Office
in the Town of Covington, Parish Q
st. Tammany, State Of Louisiana, d.