The herald., 1915-12-02
CHARTER
OF NATIONAL AUDIT CO., INC.

OF NATIONAL AUDIT CO., INC.
United States of America, State of Louisiana
Parish of Orleans, City Of New Orleans.
| Article BE il known that the 2ls
day Of the month of October IN the year one
thousand nine hundred fifteen, before me
Martin II. Manion, notary public, duly com
missioned and qualified in and for this city
and the parish of Orleans, therein residing
| and in the presence of witnesses hereinafter
named and undersigned, personally came the
persons whose names are hereunto subscribed
who declared that, awaiting themselves OF the
provisions Of the laws OF this state relative
to the organization OF corporations, they have
tcovenanted and agreed, and do, by these pres
tents, covenant and agree, bind, form and con-
stitute themselves, well as such other per
sons as may hereafter join or become asso
ciated with them, into a corporation and body
polite in law and for the objects and pur'
poses, and under the agreements and stipula'
tions following, to-wit:
Article 1.-THE name and title Of this cor
poration shall be National Audit Co., Inc,
and under that name it shall have and enjoy
! all the rights, advantages and privileges
granted by law TO corporations; 1t shall exist
| for a period of ninety nine years from the
date hereof; it shall have power to contract,
sue and be sued in its corporate name; to
make and use a corporate seal, and the same
| to break alter at pleasure; TO hold, re-
ceive, purchase, convey, mortgage and hypOth-
| issue bonds, notes and other obligations; TO
| have and employ such managers, agents and
4 other employees, the interest and cOnve-
nienCe OF said corporation may require OF de-
| mand; ard to make and establish such by
| laws, rules and regulations for the corporate
| management and control OF the affairs OF the
| said company as may be deemed necessary or
| eNpedient.
Article III.-The domicile Of said corpora
| ton shall be in the city of New Orleans,
| state of Louisiana, and all citations and
| other legal process shall be served the
president, and in his absence the vice
| president of the corporation, and in the alb
| seuce of the latter on the secretary or treas
| urer.
! Article IV.-The objects and purposes for
which this corporation is organized and the
| nature OF the business to be carried on by il
! are hereby declared to be: to audit ex-
anime accounts of, and make reports on, pub.
| lie officers and public bodies, railroads, mer-
| camille manufacturing concerns, mills, fac
| tories. and such other enterprises conducting
I business of any nature or description what
! sOcyeT, to offer suggestions for the improve
| ment of their system of accounts, to issue for
them certificates for publication; to furnish
them with certificates showing the financial
responsibility of customers desiring credit; 10
collect and handle accounts or other claims
of any character or description; TO handle
adjustments OF business matters, and to con-
duct a & neral collection business; to make
mercantile reports the credit and standing
OF persons, nrinS ana corporations IN this city
and elsewhere; to acquire and own, by pur-
chase or otherwise, stocks of merchandise,
accounts, notes, chooses in action, judgments,
real estate or other kinds of property, and to
effect the settlement OF estates of debtors and
the distribution OF the assets thereof among
those entitled thereto, and in all respects to
do and attend TO those things permitted by
the laws OF this state TO corporations OF this
nature, although the same might not be here
particularly expressed or provided; to render
assistance for the PRONUNCIATION of official re-
ports, to compile statements of trading profit
and loss, and financial conditions; to prepare
accounts OF executors, administrators, trus-
tees and guardians, in accordance with the
legal requirements of the various states: to
take charge OF books Of fduciaries. This
corporation shall have the power also to
establish branches or subsidiaries anywhere
in the United States.
Article V.-The capital stock of this cor.
poration is hereby fixed at the sum of $4,000
and the said corporation is authorized 10 in
crease said capital stock to the sum of $4,000
divided into shares at par value of $1,000 per
may be issued at not less than par for SER
wees rendered to, property actually pur-
chased or acquired by. said corporation
All shares of stock shall be full paid and
worcestershire; no transfer of stock shall be
binding upon the corporation unless made
upon its books. The corporation shall be a
going concern and shall be authorized TO com.
mence business when S2,SO.00 of the capital
u,
Sl,25O.OD of the said capital stock shall have
been actually paid for.
Article NI.-All the corporate powers of
this company shall be vested in and exercised
by board OF directors, composed of not more
than seven stockholders and not less than
three. the majority of whom shall constitute |
quorum, for the transaction of all business |
The first board of directors of this corpora. |
ton shall be elected on the third Monday of |
November nineteen hundred and fifteen. and |
thereafter said directors shall be elected an
nually on the third Monday in January of |
each year, by ballot of the stockholders. Each |
stockholder shall be entitled in person. or by |
written proxy, to one vote on each share Of |
stock standing in his name on the books of |
the company. All elections shall be held |
under such rules and regulations as NAV be
determined by the board of directors but after
at least ten days notice of such election shall
nave been given to each stakeholder, at his
last known address, or by publication in one
OF the daily newspapers published in the city
ing such election. The directors thus elected
shall continue in Office for one year. or until |
their successors shall have been duly elected
ana qualihed. No failure to hold an election
snaii pe regarded as a forfeiture of this char
Ter Any vacancy occurring on said board
OF directors shall be filled by the remaining
directors for the unexpired term Said board
Of directors shall, at its first meeting. elect
rom us number president, a ice-president,
a secretary and treasurer. 1t may combine
'he TWO last mentioned Offices in one and NAV
even elect secretary, who need not he
stockholder. Said board of directors shall
have the right and power to appoint and dis.
miss all managers, agents and other EMPLOYEES
oi the corporation. including the secretar, |
as conditions may justify, or the business Of
me corporation may require.
Article VlI.-No stakeholder shall ever he |
neId liable or responsible for the contracts.
faults or debts of said corporation, nor shall
mere intormality in its organization have m. |
erect OF rendering this charter null. or Of ex
posing any stakeholder to liability bevond
me unpaid balance due on the shares Of its
stock owned by him. " 40
Article VI1I.-This act of incorporation NAV
De changed, modified or altered, or this cor
poration may be dissolved with the assen,
u the stockholders owning a majority of the
STOCK OF the corporation, at a general meet.
ng convened for that purpose, after at least
en days notice shall have been given IN
ZACH stakeholder. in the manner and form nre.
'eri6ed IN Article of this charter. In case
u the dissolution of this company bv the
EXPIRATION of its charter, or otherwise the
stockholders shall elect three liquidators from
lmong their number at a meeting which de-.
ldes to liquidate, to liquidate and settle m.
BUSINESS and affairs of the company. In case
u the death or inability of any of said com.
nlssioners or liquidators, the survivors shall
ppoint successor to him
mus done and passed at my Office in the !!