The St. Mary banner., 1922-10-21

u Hdiu hodiu OF Directors at :,
meeting called for that purpose.
Four "a Directors shall constitute 4
quorum for the transaction of anv
business. The first Board of Direc-
tors and Officers of this corporation
shall consist of the following of its
stockholders, all of whom shall hold
office as such until their successors
have been elected and qualified
NAMES: POST
Names: POstOffice Address 4:
J. il. Peterman, Franklin, La.
Gee D: Palfrey, Franklin, La.
n. G. Huth, Franklin, La.
W. I. Palfrey, Franklin, La.
W. K. Smardon, Franklin, La.
P. Kramer, Franklin, La.
Chas. E. Fernandez, Centreville, La.
VIM. Schwan, Centreville, La.
H. H. Gates, Franklin, La.
Rene H. Himel, Franklin, La.
With j. A: Peterman, as President;
Geo. D. Palfrey, as Vice President,
and W. T. Palfrey, as Cashier.
The members of all subsequent
Boards shall be elected by the stock
holders annually on the FIRST
TUESDAY of FEBRUARY of each
year. All such elections shall be bv
ballot and conducted at the principal
office Of the corporation, under the
supervision of three commissioners
appointed by the Board of Directors
for that purpose. Notice of any such
election shall be given by written
notice mailed to each stockholder at
his Post-Office address, not less than
ten days prior to such election. Each
stockholder shall. be entitled to one
vote for each share of stock stand
ing in his or her name on the books
of the corporation, to be cast in per
son or by written proxy. A Majority
OF the votes SO cast shall elect. Any va
cancy on the Board of Directors oc-
curing by death, resignation, or 9TH
erwise, shall be dlled for the remain
der of the term so vacated by the
remaining directors. Any failure to
elect directors annually shall not
dissolve the corporation, but the di-
rectors then in office shall continue
to serve until their successors shall
have been duly elected and qualified.
The Board of Directors named in
this charter shall appoint employees
as they may deem necessary. Each
succeeding Board of Directors shall
elect president, one or more vice
presidents, cashier and such other
officers and employees as they may
deem necessary Immediately after
having qualified as such. The Board
of Directors is empowered to appoint
from its members such committees
as 1t may deem proper, and to vest
them with any of its powers to be
exercised when the Board is not in
session, and subject to any require
ments which the Board may pres
cribe. All of the officers, employees
and committees shall hold office at
the pleasure of the Board of Direc-
tors, and the Board shall define their
duties and fix their compensations
The Board shall have the right to
make and establish, as we'll as alter
and amend, any and all bylaws,
rules and regulations necessary to
the proper conduct of the business
OF this corporation.
ARTICLE v.
This act Of incorporation may be
altered or amended by the affirma-
tive vote Of the holders of two-thirds
Of the capital stock of the corpora
ton at meeting of the stockhold-
ers held after thirty days notice by
publication in newspaper regularly
issued in st. Mary Parish, and by
written notice mailed or delivered to
each stockholder of record at his
latest known address. This corpora
ton may be dissolved by the affirma-
tive vote of the holders of three
fourths Of its stock present or rep
resented at meeting convened for
that purpose, after thirty days no.
tlce by publication and mail as re.
quired by law. Such a meeting shall
be convened by order Of the Board
on its own motion, or on the written
request of a majority in amount of
stockholders. On the dissolution Of
this corporation by action of its
stockholders, its affairs shall be liq-
uidated by three commissioners, sell
ected by majority Of the stock
holders present or represented at
the. meeting ordering such dissolu-
hon. The time and manner of liqui-
1atlon, the compensation of commits
'ioners, and an other matters per-
aiming to the liquidation may be
liked and determined by majority
vote in amount of the stockholders.
Thus done and signed at my Office
n the City of Franklin. Parish
# St. Mary, State of Louisiana, on
he date first above mentioned, in
The presence of Jeanne M. Becnel
Ind T. J. Foster. competent wit
,esses, who have signed these pres
'nts, together With the said appear
RS and me-, Notary, after due read
ng of the whole.