The Madison journal. (Tallulah, Madison Parish, La.) 1888-current, 1920-01-31

ton provided thirty t30) days prior
notice of such intention to sell, assign
or transfer the same be given the
company. and the other stockholders
thereof shall have the first privilege
of purchasing same. after which
thirty (30> days notice the said stock
may be sold in open market.
This corporation shall recognize
the exclusive right Of o person regis
tered on its books as the owner Of
shares Of stock to receive dividends
and to voc as such owner, and shall
hold liable for calls and assessments
all persons registered on its books as
the owner OF shares.
ARTICLE v
The board of directors Of this cor
poration shall be composed Of five
(5) stockholders thereof who. EXCEPT
those named herein to compose the
first board or elected by the board to
fill vacancies therein, shall be elected
by the stockholders annually on the
third Monday of January in each
calendar year ,,anl shall hold and ex:
ercise the duties of their office until
their successors have been duly elect
ed and qualified.
All meetings of stockholders or
directors must be held at Inc domicile
Of said corporation; provided that
with the written consent Of all di:ec-
tors valid meetings Of directors may
be held outside the State, or within
the State elsewhere than at its domi-
cile.
At all meetings OF the board each
director shall have one vote; and
three directors. present in person or
by proxy. shall constitute a quorum
provided that a less number shall
have power to fill vacancies in the
5oayd for its unexpired time.
Each director shall have power to
appoint in writing a stakeholder as
proxy to represent such director at
any meeting of the board, such proxy
to have at such meeting all the rights
and powers of such director.
The board of directors shall be
vested with the power to hold and ex-
ercise all the powers enumerated in
Article hereof. as well as all powers
conferred by law upon the corpora.
ton, except such as may be required
bv law or by this charter to be held
and exercised by the stockholders OF
some officer of this corporation.
ARTICLE vi
The stockholders shall meet on ths
third Monday of January, A. D., 1921
to elect directors to succeed those
chosen and named in this charter
and so annually thereafter; and a
such meetings to transact any othel
business, and to do all acts required
by law.
/ Notice of all Stockholders meet
ings other. than adjourned meeting'
shall be given in the manner pre-
scribed for stockholders meetings
for the election of directors, unles.
such notice be waived by unanimou.
consent; provided that no notice i
required where a meeting is adjourn
ed to Q given da-
i ARTICLE VII
The officers of this CORPORATION
shall be President, Vice-President
and Secretary-T Treasurer, who shall
also be manager.
The board Of directors shall annu
ely elect from their pumber q Presi
dent, o Vice-President. and Secre
tary- Treasurer, who shall also b
manager all Of whom shall hold Of
flee until their successors are dull,
elected and qualified.
The directors may appoint othel
agents and employees, who shall re
| enc c<svolxy hovo v,,rb voxuop and mar
form such duties as may be prescrib
ed by the bylaws, and who may b.
removed as provided in the bylaws
| Vacancies of agents and employees
shall be filed as provided in the by
laws.
ARTICLE VIII
No Stakeholder shall ever be held liza
!. BILE or responsible for the contracts o
faults Of this corporation in any fur
Their sum than an amount equal to tn
unpaid balance on the stock subscrib
ed for by him in this corporation, no
shall anv mere informality In organi
zatioh Law the effect of rendering
this charis, null or exposing . stack
holder to any further liability.
+ ARTICLE TX
R. s. Guenard, T. B. Lucas, G. W
Gaines, A. J. Sewer and JEFF B. Sny
der shall constitute the first board o
directors to serve until. the thir,
Monday in January, 1925 and unit
their successors are elected and quail
fed, each Of said directors being tn
\ owner Of at least one a. share o
fully paid and unpledged stock.
/ ARTICLE x
The first officers Of this corpors
ton to serve until the third Monda