The herald., 1920-10-28
CHARTER.

stock shall be made only on the books or
the corporation. with ito consent ana ac-
cordiug to rules to be provided therefor
aud all stock shall first be- offered TO the
corporation, who shall have thirty days to
wise shall be valid or binding upon the
buy or refuse the same and no sale other
corporation.
Thr Board of Directors or any member
thereof. when duly authorized by reSolu
ton. shall buy or sell property or other
" Isl. dispose of or receive any property.
The board shall issue all stock to sub
SrrihrrS after first having offered Il 10 old
subscribers in the proportion OF their
holdings.
ARTICLE y.-AH Ine powers Of this cor.
poratIou shall be vested in and exercised
by lis Board OF Directors. WhO shall have
all the powers usual to their offices and
VINO shall manage its business. The Board
of directors shall consist of not less thdn
three, nor NOR" than nNe shareholders. a
majority Of whom shall constitute quo
rum for the transaction Of business. lhrS
shall be elected annually at q meeting Of
stood hOldvI~. IN person or by proxy, on The
Third Monday OF February. And, until the
annual election on said date IN the year
lg2l those. hereinafter named snail be It's
officers and directors aud shall hold oihcr
until their sutrvr~ors have been elected
and indicted into Utnc".
Ipuu due call and by majority vote
stockholders shall have power 10 remove
officers and directors and 10 MI vacancies
The nr~t Board OF directors shall be- a.
follows aud Is officially designated and
every succeeding b"arI SH"H ~ SlI"!'a' li'
constituted. Gr"SO Aull'lh, PRESIDENT ,
John M4rSpr. Secretary aud Treasurer ,
Jouu SArrmrttu, Nirr-Pr",id"Ht. Jak"
EuSrtti Member ut Board Hlr> Million,
Member OF Hoard.
All resident, Of Biloxi Mississippi aud
subject 10 Article II OF this charter. an
uuaI MEETINGS shall br held at Oh her
nile 81. New orleans. L.. The folio" Iu-
arc the iurorpurators Gregg AuurIyu,
Mrs MARY AutIrirh. JAKE Eo~"ttI. John
>,rrrI,tta. John MarNrr. Vincent Eo~rtu,
Mike hulINau. FrauE Ho~arg". and Nlooh"
Million. all of Biloxi. Miss
Tn,. Board of Directors. Wa! at ill., pleas
urr. elect or appoint other officers. dr>I-
NAT, their duties AMI IN or raise salaries.
All elections shall Toe ballot ~up"rN Is'd b!
.fAo commit ~iou,r-. notice whereof shall
Boz. given in writing to all stockholders
utlrrl DAYS prior thereto. Every >tu,h.
n,fI.r shall ,pt,. on. vote. for every >uaT,
of STOCK Failure To elect shall not dis
solve corporation aud Vacancies ocrurrIu-
interim. shall bee ullrd Toy the Board co.
directors, All uONvr~ usual to corpora
lions whether or not herein set out shall
Iuur, Ia mi, This l.I may be- amended
h., uorariaI act At dissolution. the Board
shall seth, all obligations and prur;itc
gS,,f, =, shareholders according to every
share. held
ARTICLE VI. Legal service shall b"
made on any officer or in lieu thereof,
80, - -, - az tn. Hoard nf pir,.tor,
,p'TIGi vi mis- rnruorYti,u may
bnIj SOL IN nrb.r rorporutious and ac-
mir. from any ,orporatiou Individual
mr. uuni,'ir,IIty have All rights in.
.it.rt rn surb ownership iuclud-
in'. votiur rights in other corpor-
,IInns ana nTbrr r0rporation~ shall
nXn stock in thu, No stockholdrr shall
ever Ice liable for thu faults or contracts
of this corporation. in any greater sum
than the unpaid halauC" dur on shares, or
other evidence Of indebtedness thereto, nor
will iuformaIitv in this act inyalidate II OF