St. Tammany farmer., 1920-06-05

legal holiday. All such elections
shall be by ballot at the Office nf
tbs corporation, under the super
vision of three go commissioners,
to be appointed by the Board of Di-
rectors, and in the absence of any
commissioner, the president shall
have the power to fill the place by
appointment OF all such elections,
as we'll as of all meetings of stock
holders, except for the purpose Of
liquidation and dissolution, or other
wise required by law, fifteen (15i
days notice shall be given by mail
ing to each stockholder who appears
as such on the books of this corpora
tion at his last designated address,
or care Of general delivery at Slidell.
If he has not designated an address,
notice stating the time and place
of the meeting.
Each stockho1der shall be entitled
to one ID vote for each share Of
stock in his name on the books =
this corporation, to be cast in per-
son or by proxy, and majority Of
the votes cast shall elect. Failure
| to elect directors on the day alb I'VE
specified shall not dissolve this cor
poration, but the directors then in OF
| fee shall remain in office until their
successors are elected and qualified.
Due notice of election shall be con-
tinued to be given until and election
Is held.
ARTICLE VI.
The Board of Directors in this
| charter shall meet Immediately after
| the charter Is signed and as often
| thereafter as it may be called To-
gether. Subsequent boards shall
meet on call within one week after
each annual election and thereafter
shall hold regular meetings monthly
on day to be fixed at said first meet
ing following each annual election,
and special meetings, whenever duly
called.
At its first meeting each Board Of
Directors shall elect from its mem
bership president, one or more
vice-presidents, who, without num-
eral designation, shall rank In the
order in which they are elected. At
such meeting it shall appoint sec
retary and a treasurer, neither Of
whom need be either stockholder
Or director, but may be either stock,
holder, director OR other officer. The
Board of Directors, If 1t may dean
fit, may appoint one person to be
secretary and treasurer and from
time to time, as it sees fit, appoint
or employ such other employees as it
shall deem necessary. The Board
of Directors shall have full power
and authority to fix the salaries of
all officers and Of all other employees
as 1t deems necessary and to make
and establish, as we'll as to alter and
amend, all bylaws, rules and regula-
tions necessary and proper for the
conduct and management of the
business and affairs of this corpora
ton not inconsistent with Its char
ter; 1t shall alse have full power
and authority to do all acts and
things necessary for the proper car
rying on of the business of this cor
poration and to carry out the objects
and purposes for which this corpora
ltion Is organized, including the bor-
rowing of money necessary for the
ordinary business operations of this
corporation, and through the presi-
dent, or some other duly authorized
person or persons, to execute aad
issue therefor notes or other obliga.
ations of this corporation on such
terms as in it's judgment may be ad.
vanta geous; it shall also have full
power and authority to issue and de-
liver paid shares of stock Of tiii
corporation for money, labor, SER
vices, property or rights actually re-
ceived by this corporation.
The Board of Directors shall have
full power and authority to fill al
vacancies that may occur in tao
Board of Directors, and to increase,
but not decrease, the Boards MEM
bership at any time, up to the maxi
mum herein provided.
A majority of the directors at any
time in office, present, either in por-
son or by proxy, shall constitute a
quorum for the transaction of any
business; and at any meeting of the
board, any director absent therefr 1m
may be represented by proxy.
ARTICLE VII.
Until the first annual election Of
officers for directors to be held under
this charter, or until their duly quail
flied successors are elected, and in
stalled, the Board Of Directors Of
this corporation, subject to increase
as provided in the preceding article,
shall be composed of
G. A Baker, Slidell, Louisiana.
J. J. Dubuisson, Slidell, La
S. w. Provensal, Slidell, La.
No person shall be eligible as di-
rector or an officer who is not a
stockholder of the corporation.
ARTICLE VIII.
This charter may be amended, and
the capital stock Of this corporation
may be increased to Twenty Thou
sand (S20,000) Dollars, or deereas-
ed, or this corporation may be dis
solved and its affairs liquidatej in
the method and manner provided by
law, as now or hereafter in force.
ARTICLE TX.
No stockholder of this corporation
shall ever be held liable or re-
sponsible for the contracts or faults
of this corporation in any further
sum than the unpaid balance on the
stock for which he has suD scr1bed,
nor shall any mere informality IN
organization have the effect of rem
dering this charter null or of expos
ing a stockholder to any liability