The herald. [volume] (New Orleans, La.) 1905-1953, 1912-04-25
ARTICLE V.

ARTICLE V.
All the corporate powers OF this compan,
snail be vested in, and the management and
control or its affairs shall be exercised by
board or directors composed of three
STOCKHOLDERS, which number may be in
creased 10 no more than five at the discre-
ton of the board of directors. a majority
OF whom shall constitute a quorum for the
transaction OF all business. Said directors.
except the first board Of directors who shall
serve Tor a period OF three years, or until
october, 1915, shall be elected every year
on the first Monday Of October Each stock
holder shall be entitled in person or by
written proxy TO one vote on every share
or stock owned by him and standing In his
name on the books OF the company All
elections shall be held under such rules and
regulations as may be determined by the
board or directors, and after at least ter
DAYS notice In writing OF such election shall
have been given to each stakeholder at hi.
last known address, or by publication in
one OF the daily newspapers for at least
ten days preceding such election. The direc-
tsrs thus elected shall continue In Office for
one year Except the first board of direc-
tors, which shall serve until the election to
be held in October, 1915, as hereinabove
stated or until their successors shall have
been duly elected and qualified. No fail
ure TO elect shall be re garded as a forfeit
ture of this charter. Any vacancy occur.
ring on said board Of directors shall be
filled by the remaining directors for the
uneIpired term: The said board OF direc
tors shall likewise elect the additional mem
bers In case they should determine to in
crease the number Of the board OF directors
as above provided. Said board of director.
shall, at its first meeting after It's election
elect from among Its number, q president
one or more vice-presidents, a secretary anC
q treasurer. 1t may combine the two last
mentioned Offices, and may even elect a sec
rotary, who need not be a stockhoIder. Sale
board Of directors shall have the right anC
power to appoint and dismiss such clerks
managers and other employees of the cor
poration, including the secretary, who is no
a stakeholder, as conditions may Justify
or the business of the corporation may re
Quire. The tenure of office Of all employee.
Of this corporation shall be during tb,
pleasure OF the board of directors.
ARTICLE VI.
No stakeholder shall ever be held llabl,
or responsible for the contracts, faults OF
debts of this corporation, nor shall AM
mere informality in its organization have
the effect Of rendering this charter null Of
Of exposing a stockhOlder to any liability
beyond the unpaid balance due on the share:
of stock owned by him.
ARTICLE VII.
This act Of incorpora ton may be changed
modified or altered, or this corporation MAJ
be dissolved with the assent Of the stock
holders owning a majority Of all the stock Of
the corporation, at a general meeting con
vened for that purpose, after at least ter
days notice in writing Of such meeting shall
have been given to each stakeholder as pro
vided for in Article V of this charter. In
case of the dissolution of this corporation
by the expiration of Its charter or otherwise
the stockholders shall elect three liquidat
ors from among their number who shall hav,
full power and authority to liquidste anC
settle the business and affairs of the sale
company. In case of tie death or inability
Of any of said liquidators, the survivors Of
remaining liquidators shall appoint a sue
cesSor to him.
ARTICLE VIII.
Until the election to be held in 1915, tn,
following named stockholders shall consti
tute the first board Of directors, viz Johl
It Holmes, Gaspar Pietri and Frank SimOne
with the said John I Holmes as president
| Gaspar Pietri as vice-president, and Franl
| Simone as treasurer.
This corporation shall become Q goinj
| concern as soon as three thousand $4,000
| dollars OF its capital stock shall have beel
subscribed for.
Thus done and passed at my Office 4, tn
| City Of New Orleans, on the day, mont
| and year, heerin first above written, In tn
presence OF Theodore A. Beck and Anthem
| Troyani both of this city, competent wit
| nesses who have hereunto signed thei
names with the said appearers and me, Nc
| tary, after due reading of the whole.
Original Signed John T. Holmes,
shares G. Pietri, 10 shares Frank Simon
Is shares. T. A. Beck, Ant. TroyanL.
| ROBERT LEGIER, Not. Pub.
/, the undersigned Recorder Of Mortgage
for the Parish Of Orleans and State Of To-
isiana, do hereby certify that the above ar
foregoing charter Of the New Cosmopolita
Realty Company was this day duly reeordt
in my Office in book 1851, folio :.
New Orleans, La, March 20, 1912.
(Signed) EMILE LEONARD, by. r.
" A true copy from the original act.
ROBERT LEGIER, Not. Pub.
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