The herald. [volume] (New Orleans, La.) 1905-1953, 1912-09-26
CHARTER
MARX HYMAN & KLEIN.

2
| of the month of August, in the year 1912,
| before me, Scott f. Beer, notary public in
and for the Parish Of Orleans, State of
| Louisiana, therein residing duly sworn, COM
missioned and qualified, and in the presence
| of the witnesses who hereunto sign their
4 names as such. Personally came and appear
| ed. The several parties whose names are
| hereunto subscribed, who severally declared
| that availing themselves of the law of this
State In such cases made and provided, they
| have contracted and agreed, and do, by these
presents, contract, agree and bind themsel-
yes, as well as all other persons who may
| hereafter become associated with them, TO
| form corporation for the objects and pur-
poses and under the articles and stipula-
lions as follow t t9,Titi
The name of this corporation shall be
| Marx, Lyman X Klein" by which said
name this corporation shall have and enjoy
| corporate existance and succession for the
| term of ninety-nine years from and after
| the date hereof, unless sooner dissolved ac-
| cording to law. Its domicile shall be in
| the City of New Orleans, State Of Louisiana,
1t shall have power to contract, sue and be
| sued to make and use corporate seal and
| the same to break or alter at pleasure; to
| hold receive, lease, purchase, sell, convey,
as well as mortgage and hypothecate, under
its corporate name, property, real, personal
and mixed, and to borrow and lend money,
| and to give and receive all manner Of Sc,
| curity therefor: to name and appoint such
| managers, directors, officers, agents and en-
ployees as the interest and convenience Of
| this corporation may require, and to make
| and establish such rules and regulations for
| the management of this corporation as may
be necessary and proper, and the same to
ARTICLE II.
Citations and all other legal process shall
be served upon the President of this cor
poration, and in case of his absence or disa-
bility, upon the Vice President thereof and
| in case of his absence or disability, upon
any officer of this corporation.
Il
The purposes for which this corporation
Is established and the nature of the business
to- be by ii carried on, are hereby declared
to be to conduct and carry on the business
OF dealing in ladies and children's ready to
wear apparel, millinery, and kindred lines,
and to do all and every kind of business In
cidental to said lines of business or con-
nected Herewith.
ARTICLE ".
The capital stock of this corporation Is
hereby fixed at the sum of thirty thousand
dollars (S30.000.00) to be represented by
three hundred shares 5000 of the par value
of one hundred dollars (S10Ol each, which
capital stock may be increased or decreased
in compliance with the laws of the State
of Louisiana Stock shall be issued in such
amounts and at such times as the Board OF
Directors may prescribed and determine The
said Board Of Directors Is empowered to is
sue shares of stock of this corporation, at
NOT less than par, In payment for labor ac-
tualIy done for the benefit of this corpora
ceived and transferred to this corporation,
and for other valuable considerations, as
the Board Of Directors may see ut.
Transfers of the stock of this corpora,
tion shall be made ON the books of this cor
poration, subject to such formalities and
regulations as the Board of Directors may
determine
Each and every stakeholder shall have
one vote for every share of stock standing
in his name on the books of this corporation.
Each stakeholder may give any other stock
holder his proxy In writing to represent him
at any and all meetings of this corporation.
This charter shall be In full force and
soon as the full sum of twenty thousand
$50, 0OO) dollars of the capital stock there
Of shall have been subscribed for.
ARTICLE v.
All the corporate powers of this corpora
ton shall be vested in and executed by the
Board of Directors to be composed of three
stockholders of this corporation, two of
whom shall constitute quorum for the
transaction OF the business of this corpora
ton. The Board of Directors shall be COM
posed of President, a yice,President,
and a Secretary Treasurer The first Board
of Directors shall be made up Of the follow
ing Jacob Klein, President; Aaron Marx,
Treasurer. The officers above just named
shall remain in Office until the first Monday
In January, 1915, and the elections of the
Board shall be annually thereafter on said
date.
All directors shall hold Office until their
successors are elected and qualified All such
elections shall be by ballot at the office of
this corporation under the supervision OF
three commissioners to be appointed by the
board. Notice of every such election shall
be given to the stockholders by letter d.
rected to each and every one of them adj
dressed at the address given by him, on the
books Of this corporation. Any vacancy oc-
curing in the board of directors shall be
filed for the remainder of the term by the
remaining directors. A failure TO elect di-
rectors on the date specified shall not dis
solve this corporation, but the directors then
in Office shall remain In Office until their
successors are duly elected and qualified.
Each director shall own at least one share
of stock in this corporation. Each director
shall have the power to appoint proxy In
writing to represent him at all meetings OF
the board Of directors, and this proxy may
be given to any. one, even though not
stakeholder of this corporation.
All directors shall be chosen from the
stockholders of this corpora ton.
ARTICLE vi.
Whenever any stakeholder Of this curpOr-
alton shall desire to SELL transfer or dis
pose of all or any of his stock In this cor
poration, he shall first offer the same to this
corporation and the other shareholders
the day Of his written offer to said corpor-
alton and stockholders thereof: the offer to
be to sell the said stock at the highest bona
ide offer which has been offered said stock
days, the said offer has not been accepted by
said corporation of the stockholders there
of, the said stakeholder wishing to sell his
said stock or any Of IL, may sell or dispose
of same to any one he may see it.
ARTICLE VII.
Whenever this corporation shall be dis
solved either by limitation or otherwise, its
affairs shall be liquidated by two commits
sioners to be appointed from among the
stockholders at a general meeting convened
for such purpose, OF which meeting notice
shall be given h the manner and time pre-
scribed BIZ the next article Of this charter,
and a majority In amount of the capital
stock Of this corporation represented at such
meeting shall be requisite to elect And
the said commissioners shall remain In Of
fee until the affairs of the said corporation
shall have been fully liquidated.
ARTICLE Will
This act Of Incorporation may be changed,
altered or modified or amended, or this cor
poration and the charter thereof may be
dissolved, with the assent Of three quarters
Of the capital stock represented at gen.
eral meeting Of the stockholders convened In
= general meeting for that purpose, and at
ter notice Of such meeting and the purposes
thereof shall have been given In one or
more newspapers Of the city Of New Orleans,
La, once q week for four weeks prior to said
meeting. and By notice directed to each
stockh0ldef, IN writing. and mailed to him
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