The corporate powers of said cor
poration shall be vested in and exer
cised, and the business and affairs of
this corporation shall be managed and
conducted by a board of directors com
posed of nine members. Said directors
shall be elected annually on the first
Monday of October, or such other day
as the stockholders at a regular or any
special meeting may fix, and all such
elections shall be by ballet. Of each
election, ten days' prior notice shall be
given in a newspaper published in the
town of Donaldsonville, La., and the
directors thus elected shall serve until
their successors shall have been elec
ted. A majority of the votes cast
shall elect, and each share of stock
shall be entitled to one vote either
in person or by proxy. A failure to
elect directors on the day required
shall not dissolve the corporation, but
the hoard of directors shall continue
to hold their office and another elec
tion shall be held within thirty days
thereafter, and ten days' prior notice
shall be given in a newspaper pub
lished in the town of Donaldsonville
ta. Any vacancy occurring in the
board of directors from any cause
whatever shall be filled by election by
the remaining directors. Five directors
shall constitute a quorum for the
transaction of business.
