New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1921-07-23

break at pleasure, to have, hold and re-
ceive, purchase, sell, convey, lease, pledge,
bond, hypothecate, and mortgage prop
erty Of any and all kinds, real, personal
or mixed, corporeal or incorporeal, in
GLIDING oil leases, oil rights, mineral
rights, of all kinds; to have and appoint
such managers, directors and officers,
committees and agents as the business
may require, and to make and establish
as we'll as to alter and amend, from time
to time, such bylaws, rules and regIla-
tions for the proper management and
government of the affairs of said corpora
ton as may be necessary and proper, and
generally, to possess all the powers here
matter mentioned and that are now or
may hereafter be conferred by law, or
necessary to promote its objects and in
terests.
ARTICLE 2.
The domicile of this corporation shall
be at New iberia, Parish of iberia, State
of Louisiana, where service of citation or
other legal process shall be made upon
the President of said corporation, or in
his absence, upon the Secretary of the
said corporation, or in the absence of
either, upon any other officer as may be
designated by law.
ARTICLE 3.
The object and purpose of this corpo-
ration are declared to be: To acquire by
lease or purchase or otherwise, mineral
rights and mineral leases, of all kinds,
and to explore and develope the same in
search of oil, gas or other minerals; to
drill and operate on any lands in the
State of Louisiana for oil, gas or other
same, and to own and operate pipe lines,
to convey said minerals to market; to
own or lease necessary machinery and
drilling outfit and tanks for the proper
development and production of said min
erals, and generally, to do all things nee
essary and proper to carry out the OBJ
jects and purposes of which this corpora
ton is organized.
ARTICLE 4.
The capital stock of this corporation
is hereby fixed at the sum Of Ten Thou
sand Dollars, represented by 200 shares of
the par value of Fifty Dollars, or in ex-
change for such property as may be au-
thorized by law and make in conformity
with legal provision.
The capital stock may be increased in
the manner prescribed by law, to the sum
of Fifty Thousand Dollars.
Said corporation shall begin business as
soon as Five Thousand Dollars of the
capital stock shall have been subscribed
for and paid for.
ARTICLE 5.
The corporate powers of this corpora
ton shall be vested in and exercised by,
and all the business affairs of this cor
poration shall be managed and conducted
by a Board Of Directors, composed of
Five stockholders to be annually elected
on the Second Tuesday of July of each
year. From said Directors. there shall be
elected annually, a President, a Vice
President, and Secretary Treasurer, Of
the said corporation. The following per-
sons shall constitute the first Board Of
Directors. to-wit: E. Guidroz. Adam D.
Winters. Sidney Patout, F. G. Patout and
F. E. Delahoussaye.
Until the election to be held on the
Second Tuesday Of July, 1922, the fol-
lowing shall be the officers of this cor
poration: E. Guidroz. President: F. G.
Patout, Vice-President and F. E. Della
houssaye, Secretary-Treasurer. Any
vacancy on the Board of Directors shall
be filled by the remaining members Of
the Board for the unexpired term. Any
vacancy in any office shall be filled by
the Directors for the unexpired term.
The Board of Directors may appoint,
from their members, and executive COM
mittee of three, with full power to trans
act any business for said corporation as
fully as if done by the Board of Directors
themselves. AL salaries of employees to
be liked by said Board or Executive COM
mittee. The Board may make and es-
tablish, as well a. to alter and amend
any and all bylaws, rules and regula-
tons, necessary and proper for the con-
duct and management of the affairs Of
said corporation with full power and au-
thority to carry on all the business Of
the said corporation, provided the same
shall not conflict with this charter OF the
laws Of the State Of Louisiana, and Of
the United States.
ARTICLE s.
No shareholder shall ever be held liable
OF responsible for the contracts or faults
Of this corporation with any further sum
than the amount. Of his indebtedness to
this corporation; nor shall any mere in
formaity in organization, have the effect
Of rendering this act null OF Of exposing
any shareholder to any liabilities beyond
the amount Of his or her shares.
ARTICLE z.
This corporation shall have, enjoy and
exercise al the rights, privileges and inn
munitiss granted BY act 267 Of the Acts
Of the General Assembly, Of the State Of
Louisiana, for the year 1914, and al
amsndments 70 said oct, and other laws
Of this State relative to corporation, and
this Charter may Be changed, altered Or
snnulled, OF this corporation dissolved,
under the. terms and conditions and in
accordance to said laws.
The subscribers hereto have respectively
written opposite their names the amount
Of stock in this corporation, subscribed
for By each Of them together with their
Post Office address, % that this act Of
may also serve ~ the orig
inal subscription list Of said corporation.
Thus done and passed ct the City Of
New iberia, iberia Parish, Louisiana, on
the day, month and year FIRST above writ
ten, in the presence Of the undersigned |