St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1921-07-30
State of Louisiana, for the year 1914
and amendments thereto.
ARTICLE V, s.-

and amendments thereto.
| ARTICLE v.
All of the corporate powers Of said
corporation shall be vested In and
exercised by a Board of Directors 70
| be composed of not more than seven
90 and not less than three CD
stockholders, a majority Of whom
sitting at any time shall constitute a
quorum, said Directors to be elected
annually on June LIST Of each year,
beginning 1922. Each stakeholder
shall be entitled in person, or by
written proxy, to one vote for each
share of the capital stock held by
! him and standing in his name on
the books of the corporation, or he
may send his vote by letter, the sig
nature Of which must be acknowledge
! ed before Notary Public Or other
officer authorized to take affidavits.
All elections shall be held under SUCH
rules and regulations as may be de-
termined by the Board of Directors,
after legal notice of such election
shall have boon given to each stock
holder by mail, sent to his last
known address, or to be published In
one of the daily newspapers, publish
ed in the English language, in the
Ciy Of New Orleans, for at least fiji
teen (15) days preceding such cleo
ton. The Directors thus elected
shall continue In office until their
successors shall have been duly elect
ed and qualified. No failure to elect
shall be regarded as a forfeiture Of
this charter. Any vacancy occurring
on such Board Of Directors shall be
filled by the remaining directors FOR
the unexpired term, when a vacancy
shall be considered to exist at any
time when the maximum number OF
Directors provided by this Act Of IN
corporation are not in office and ac-
tually SO serving. Said Board of ni-
rectors shall at its first meeting after
it's election, elect from it's members
a President, one or more Vice-Pres!-
dents, a Secretary and a Treasurer.
1t may combine the offices of Sec
rotary and Treasurer into one, and
may even elect q Secretary who need
not be a stakeholder or director.
Said Board of Directors shall have
the right and power to appoint and
discharge such clerks and employees
Of the corporation, including the sec
rotary, who is not stakeholder or
director, as conditions may justify or
the business OF the corporation may
require. The tenure of office of all
Of the employees Of this corporation
shall be during the pleasure Of the
Board Of Directors. The Board of
Directors may, from among it's MEM
bers, appoint an Executive Commit
tee, which said committee shall con-
sist Of three members including one
Of the officers of the corporation,
and the Board Of Directors may dele-j
gate such managerial powers as it
deems necessary to the Executive
Committee, which said committee
shall report at each meeting of the
Board of Directors. The Board of
Directors may name and appoint
such other committees as It may
deem necessary for the purposes of
the business of this corporation.
ARTICLE VI.
No stakeholder shall ever be held
liable or responsible for the CON
tracts, faults, debts or duties of this
corporation, nor shall any mere In
formaltty in its organization have
the effect Of rendering this charter
null, or OF exposing It's stockholders
to any liability beyond that every
stakeholder Of the capital stock of
this corporation, though not a hold
er, shall be- personally liable to the