New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1920-02-21


paid for in cash at the time of its is
suance.
Every sale or transfer of the capital
stock of the corporation shall be made on
the books of the company at its Office,
and on the surrender of the certificate
therefor new certificate shall Issue to
the proper holder therof.
The capital stock of this corporation
NAV be increased to Seventy Thousand
Dollars, ($70,0o00o) 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-
CURED by law and by this charter and
paid in.
The names and post office addresses
of the subscribers of the articles of IN
corporation, and the number of shares
each agrees to take are as follows:
J. E. Broussard, Loreauvills P. O., Ibs-
ria Parish, La, II shares.
Rules Broussard, Loresuvills P. o.,
Iberia Parish, La, II shares.
Raoul Broussard, Loreauvils ?. o.,
Iberia Parish, La, Is 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 See
ond Tuesday of the month of December,
and the said board shall have and 10
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 te
elected annually a President, Vice
President, and a Secretary Treasurer of
the said corporation. The following per-
sons, each of WHOM are who each declare
themselves to be bona-fids 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 Brousss-a
whose Post Office address is Loreauville,
Iberia Parish, State of Louisiana; Raoxl
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 d.
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
L.. L. Z
of Loreauville P. O., Iberia Parish, State
of Louisiana, its Vice President Rules
Broussard, whose post office address is
Loreauville, Iberia Parish, State of Los-
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
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.
stakeholder 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
ing, the President shall appoint another
stakeholder 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 well as the other
officers Of the company, shall hold over
until their successors are chosen. In such
event. the President shall cause another
election to be held within thirty days
and at a date and hour named by him,
giving the notice to the stockholders as
required by law.
At every election and meeting each
stakeholder shall be entitled to one vote
for each share of capital stock of the
standing in his name, and he
may vote such stock by written prsxy
given to any person to represent him At
such meeting. The election of directors
shall be by ballot and the majority of tss
amount of votes cast shall elect the per-
son or persons for whom they have bees
east.
ARTICLE VI
The Board Of Directors shall frame and
adopt such bylaws and rules and reguls-
items as the affairs and business for the
conduct and management thereof, Pre-
vided the same shall not conAict with this
charter, appoint such agents, employees,
servants, and clerks as it may deem
proper fixing their compensation and
terms of service and dismiss them at
pleasure. It shall have the right to fix
and determine the salaries of the sew
eral officers and employees herein pre-
vided for Any director may appoint
another director or shareholder to act
and vote for him on all matters coming
before any meeting of the board
ARTICLE VII.
No share holder shall ever be he'd
liable or responsible for the contract or
faults of this corporation in any further
sum than the amount of his indebtedness
to the corporation, nor shall any mere
informality in organization have the eff
feet of rendering this act null or Of ex-
posing any share holder to any liability
beyond the amount of his or her shares.
ARTICLE VIII.
This corporation shall have, enjoy and
exercis. all the rights, privileges and inn