New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1921-12-03


pledge property, both real and personal /;
to borrow money and issue bonds, notes
and other obligations; to have and en-
ploy such officers, directors. managers,
agents, and other employees as the in
terest of said corporation may require
and to establish such bylaws, rules and
regulations for the proper management
and control of its affairs as may be nee
essary and expedient.
r. ARTICLE ~.
The amount of capital stock of this
corporation is hereby fixed at the sum Of
Ten Thousand (sl0OO0O0) Dollars, d.
vided into One Hundred Q00) shares,
par value One Hundred ($100.00) Dol
lars each provided, however, that the
subscription of Fifty $50 p. c.) per cent
of said stock shall be sufficient to char
ter said corporation; and said stock shall
be paid for in cash and may be issued for
property actually acquired for by said
corporation.
ARTICLE v.
It is agreed upon becoming a stock
holder of this corporation that in the
event said stakeholder wishes dispose of
his stock, he must first offer it to the ex-
listing stockholders of this corporation fo-
a period of Thirty (30) days before dis
posing of it to outside parties.
ARTICLE VI.
Each stakeholder shall be entitled, in
person or by proxy, to cast one vote TO,
each share of stock owned by him.
ARTICLE VII.
No stakeholder of this corporation
shall ever be liable for the contract o,
faults of the corporation in any further
sum than the amount of the unpaid bal
ance due on his stock; or shall any in
formality in organization have the effec
of rendering this charter null Or of ex.
posing stakeholder to any liability be-
yond the amount due on his stock.
ARTICLE VIII.
All the corporate powers Of this Nor.
poration, and the management and con
troll of its affairs shall be vested in ant
! exercised by the Board of Directors com
posed Of three 81 stockholders. ma
jority Of whom shall constitute quorum
| in the transaction of business.
The Directors of the said corporatio,
shall be elected annually at meeting o
the stockholders to be held on the Sec
ond Monday of May each year at tn,
domicile of the Corporation, and motto,
of said stockholders meeting for the cleo
! ton Of directors must be given to eacl
stakeholder At least fifteen (15) days be-
fore the day Of such meeting by deposit
ing said notice in the Post Office prop
erly addressed to each stakeholder; suci
notices to be signed by the Secretary.
ARTICLE TX.
All vacancies on the Board of Direc
tors of said Corporation shall be fllee
by election by majority vote of tn,
for the unexpired term.
ARTICLE X.
The office Of President Manager anc
Secretary Treasurer or all Of them may
be held by the same person provided sale
person be q stakeholder at the time o.
said election and shall hold at the tim.
not less than one share of unpledgec
stock in said corporation: the Board Of
Directors to appoint or elect said ofti-
GERS.
ARTICLE XII.
The Board of Directors to manage the
business and affairs of this corporation
from date Of incorporation qualified ID
declared to be ~ follows:
Henry Broussard, New Orleans, La.
who shall be President Manager; Don
aid R. Mestayer, New Orleans, La, who
shall be Secretary Treasurer and Octave
]. Where, New Orleans, La, who shall
BE- Vice President.
ARTICLE XII.
The failure to elect Directors On the
Second Monday Of May annually, shall
not dissolve the corporate or impair
it, management, but the then existing
directors and officers shall hold over
until the mex annual election, except ~
otherwise provided herein.
ARTICLE XIII.
The Board Of Directors shall have the
power to adopt, establish, amend and
sitter such bylaws, rules and regulations
- il may deem necessary for the propar
conduct snd management Of the business
Of the. corporation. Il may appoint Ill
such officers, agents, OK employees -
may b necessary and shall have power
% ds1ins and AZ the duty Of said ef6cszs
o. employees, who shall hold Office and
employment at The pleasure Of The
board.
ARTICLE XIV.
Whensvs5 this eoposation shall - d.
solved, either BY linitstion or otherwise,
IT. sf5siss shall b liquidstsd By TIVE COM
nissisnsss . b appointed By the stoek-
koldess at . meeting called fof that pus-
49, &aA Cnnmfnasnnsrn aha1l rnnaiw