The herald. [volume] (New Orleans, La.) 1905-1953, 1914-01-08
CHARTER

CHARTER ,,-,o,.
OF BUILDING MATERIAL ASSN y l, rS,i,
I-ri,rd States Of America, State OF LOUIS
ana, Parish Of Orleans, CITY oil Ne" VI
Re It known that on this twenty second DAY |
of the month Of December, IN the year ol
an Lord one thousand nine hundred ana INN
zen and Of the independence OF the ShlleI
States OF America the one hunureq anu
thirty eighth, before me, "a &c the parish
~ Orleans state OF Louisiana, aforesaid uuly |
commissioned and qualified, and IN the PIcsl
enc. OF the witnesses hereinafter named anu anu
,5o-s;g,cd personally came and appeared
The several persons whose names are N.Y.
unto subscribed, who severaliy deeiate I.i@,,
availing themselves OF the laws OF lne 90.
OF louisiana in such cases mace anu ~
yided they have contracted and agreed anu
| do by these presents covenant ana agree am
| bind themselves, as well as an sucu Pe.tso.S
| az NAV hereafter become associated with thenl'
20 forn, a corporation for the objects ana pur'
poses and under the articles and supulauohs'
| to-wit: ..;, sL.Il
| ne the Building Material ASSOCIATION, ana
under its corporate name It shall nave PoNer
ard authority to have and ENJOY successful
| Tnr the full term and period OF ninety-nihc
| wears from and after the date hereof; 10 CON
| tract, 10 sue and be sued, 10 make ana use a
| corporate seal, and the same TO break OF altcI
at pleasure; to hold receive, lease, pbvnnib-
| .cate property, real, personal and mixed
| corporeal and incorporeal; to name ana .Pi
| point such managers, agents, dltecloIs Gnu
| officers as its business interests and con
i yenience may require, and TO make ana es-
| tahlish as we'll alter and amend from
| time to time such bylaws, rules ana regpr
i lations for the government OF the analrs OF
| said corporation as may be necessary anu
Article 1.-THE domicile of said corpora
ton shall be in the city OF New orleans
state of Louisiana, and all citations or other
legal process shall be served upon the preSl,
dent OF said corporation, or. in the event OF
his absence upon the vice president, and, IN
the absence Of both of said officers, upon the
secretary of said corporation.
Article III.-The objects and purposes OF
this corporation are hereby declared 10 oe:
:. nation pertaining 10 the building supply IN
dustry OF the city of New Orleans and state
! of louisiana; to promote the interests, 10 DC
crease the risks and to improve the meth
DDS in the conduct thereof to establish, main
> tain, and operate a bureau or agency tor the
: collection or acquiring by purchase or IN
: any other lawful manner, information, sta
: tistics, facts and circumstances OF, relating
, to, or affecting the business, capital, DEBT
solvency. credit, responsibility and CONNER:
cal condition and standing OF amy and all
: individuals, firms, associations and corpora
tons engaged in or connected with the busi-
z ness of buying and selling building materials
OF any and all kinds, wholesale or retail, the
e business Of constructing buildings and any
other structures OF works, whether public or
private, paving streets and Sidewalks or
laying roads, any other business which re-
quires the persons or concerns engaged there
| in TO purchase building material therefor; and
to furnish such information and data, sta
' tistics and ratings to the members OF TINS
n corporations; and generally to do any and all
: things to advance the interests OF the IN.
= dustry in the city of New Orleans; TO pro,
z vide, own and maintain suitable rooms and
Offices for the members of this association in
the city Of New Orleans; and to hold and
exercise all such incidental powers as relate
to the objects heretofore set FORTH
| Article lV.-Ihe capital stock OF the cor
!. porston is hereby fixed at the sum OF ten
!. thousand dollars (sl0,000.00) to be divided into
!. and represented by two hundred GOO shares
/. of stock in the sum of fifty dollars (S50OO)
!. each. Said stock shall be paid for as. when,
D. and in the manner directed by the board Of
!. directors. The capital stock may be in
a Shares Of stOeE Shall Be issued Is full
4. paid and non assessable, and no transfer Of
stock shall be binding on the corporation
!. unless recorded on its books
A Said corporation shall become a going con-
Germ and be authorized to do business as soon
as sixty (60) shares of its capital stock shall
have been subscribed. for.
Every stakeholder who is a member of the
association shall be required TO pay an.
nual membership fee, and the payment Of
all dues fixed by the board of directors shall
,. be enforced by such rules, regulations and
.. penalties the board Of directors may deem
0. proper. The shares of stock shall be liable
= for any unpaid dues.
.. Only such stockholders who have been
elected members of the association as pro-
, vided by the bylaws or constituted such
D. members by this act of incorporation shall
have the right to vote at all corporate meet.
. ings held to amend the charter, to dissolve
| the corporation, to elect lqudstors, or 10
increase or diminish the capital stock.
Article V.-All the corporate powers of said
corporation shall be exercised by board Of
| directors, consisting of the total member.
0. ship Of the association. Seven directors pres.
ent in person shall constitute a quorum. A
D. director may be represented by proxy.
.. The board Of directors shall elect annually
.. from their number a president, a weep 81.
Q. dent, secretary and a treasurer. The board
D. Of directors shall have power to combine the
a Offices OF secretary and treasurer.
p The board Of directors shall appoint from
time 10 time such officers and clerks and
agents and employees as they may deem nee.
essary for the purposes and business of the
corporation, who shall hold Office at the pleas.
, ure of the board.
! Said board may make, alter and amend any
and all bylaws and regulations proper for
, the conduct and management of the business
and affairs of the corporation. The board
snail have power 10 apply the profits of the
corporation TO the promotion OF the business
!. and affairs thereof or to the declaration of :
dividend, or TO both of such purposes, If such
profits shall be sufficient to that end
Article Nl;-Whenever this corporation may
be dissolved, either by limitation or from
any other cause, its affairs shall be iquidated
by three commissioners to be appointed from
amongst the stockholders at a general meet.
ing OF stockholders convened for such pur.
pose, and notice of which shall be given in
the manner and time provided for stockhold.
ers meetings by Article VII of this charter
J. and majority in amount of the capital stock
OF said association represented at such meet.
ingS shall be requisite to elect. Said com.
mIssloners shall remain in Office until the
AFFAIRS OF the corporation shall have beer
tuily liquidated. In case of death of one o,
more OF said commissioners. the vacancy shall
be hlled by election of the surviving com.
missioners.
Article ElI.-This act of Incorporation NAV
J. be modified, changed or altered or said cor.
poTaton may be dissolved with the a.sen,
OF three-iourths OF the capital stock repre-.
Sented at a general meeting of the stock.
!. holders convened for such purposes. zfte,
stakeholder.
/. Article VIII.-No stakeholder shall ever n.
held liable for the contracts or faults of said
l. corporation IN any further sum than the nm.
!. paid balance due the corporation on shares OF
!. stock owned by him, nor shall any mere in.
l. torinality IN organization have the effect O,
rendering this charter null, or of exposins
siockholder TO any liability beyond the IN,
paId amount remaining due on his stock
Inc subscribers hereto have respectively
; written opposite their names the amount Of
STOCK IN this corporation subscribed for nv
each OF them, so that this act of incorporation
may also serve as the original subscription
list OF said corporation.