The herald. [volume] (New Orleans, La.) 1905-1953, 1916-09-28
CHARTER
OF THE INTERSTATE AUTO SUPPL

leans.
Be it known, that on this thirty-frst day
OF the month Of August, in the year of our
Lord, one thousand nine hundred and sly
teen, and OF the independence OF the United
States OF America, the one hundred and
forty FIRST, before me, Arthur A. Moreno,
notary public in and for the Parish of Or
leans, State of Louisiana, duly commissi
and qualified, and in the presence OF the wit.
neSses hereinafter named and undersigned,
personally came and appeared the following
persons whose names are hereunto sub
scribed, together with the amounts Of their
respective subscriptions to thecapital stock
OF the corporation 10 be formed, who sever
ally declare that, avaIling themselves of the
provisions OF the general laws Of the State
OF louisiana re latiye TO the organization of
corporations, they have cOvenanted and
agreed, and do by these presents covenant
and agree, and bind and obligate themselves,
as well as such other persons as may be
hereafter become associated with them or
their successors, 10 form and Constitute them
selves INTO a corporation and body polite
III law, and for the objects and purposes and
under agreements and StlpulatiOns following,
tO-wit:
Article 1.-The name and title of this cor
PoTatlon shall be the Interstate Auto Supply
Company, Inc, and by that name said cor
pOration shall have power and authority to
have and ENJOY succession for the full term
OF nluety-nlne years from the dateI hereof;
70 contract sue and be sued; TO make and
use corporate seal; to purchase and re-
ceive, lease, hold, sell and convey, as we'll
as mortgage and hypothecate, property, real,
personal and mixed; to name and appoint
such officers and agents the interest of
SAID corporation may require; and to make
and establish such bylaws and regulations
Tor the proper management and regulation
TITS affairs as may be deemed necessary, and
the same 10 change and alter at pleasure.
Article 1.-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 upon the
aTd
OF his absence, upon the vlce-presldent, and,
IN case OF the absence Of both OF these Off
GERS, upon the secretary thereof.
Article Ill.-The objects and purposes for
which this corporation is established, and
the nature Of the business to be carried on
by II are to bay and sell, or consign auto
mobile and electrical supplies and acces-
series OF all kinds, and to those ends to
purchase, use, lease, mortgage, otherwise
acquire movable ImmDvable property, and
generally 10 do all acts and to enter into all
contracts that may be necessary, convenient
or appropriate in the accomplishment of the
aforesaid purposes Of buying and selling
automobile and electrical accessories, and to
do such other kindred acts, engage in such
businesses as are necessary, requisite, or
usually operated in connection with the buy
ing and selling OF automobile and electrical
accessories.
Article IV-The capital stock of this cor
poration shall be $500, divided into twenty
hive shares OF the par value of 500 each,
payable when issued, in cash, other prop
erty, and may be increased to the sum Of
$4,000, divided into a thousand shares of
the par value OF $1,000 per share, and this
corporation Is % be a going concern when
one-halt Of the capital stock has been sub
scribed and paid for. Each share OF stock
shall be entitled to one vote at all general
elections.
Article V-No stakeholder shall ever be
liable or responsible for the Indebtedness,
faults, or defaults Of this corporation, nor
shall any mere informality in the organization
of the corporation have any effect OF rendering
the charter null of exposing the STOCK.
holders to any liability beyond the unpaid
balance, If any, on his stock subscription.
Should any stakeholder desire to sell his
stock he shall first offer the same to the
stockholders of the company through its
board Of directors, and the stockholders who
desire to purchase shall have the right to
purchase the same, in the proportion to their
holdings OF stock in the company. Should
said stockholders in seventy-two hours after
notice having been given, in writing. fail
or refuse to purchase the stock offered for
sale, such stock may be sold to anyone.
No transfer OF stock shall bemade or held
to be valid and binding unless made on the
books of the company, and unless made in
pursuance of the provisions of this charter.
Article VI.-This corpo, alton shall have all
powers granted to such corporations by law,
and shall have the power to contract, sue
and be sued in its corporate name, and 10
own, hold, receive, loan, lease, purchase, sell
and convey or mortgage any and all OF Its
effects, or to hypothecate its property, and 10
do any and all acts ana things c any other
kind, nature or descriptions, as may be nee
essary to carry out the objects and purposes
Of said business as its interests and con-
veniences may require.
Article VIf.-The business of said cor.
poration shall be directed by and vested in
board of directors of three stockholders,
two of whom shall constitute a quorum for
the transaction of business, and the said
directors as first constituted shall be Fer
nand X Levy, Ferdinand B. Stern and
Samuel Hellman, and they shall hold office
until the second Monday in August, 1917, and
on that day and from each an devery day
thereafter elections shall be held annually
for directors at the principal office of the
corporation Failure to hold an election on
the day specified shall not dissolve the cor.
poration, but the directors in office shall hold
their respective office until an election shall
be held after ten days notice of the time and
place thereof given TO each stockhoIder. The
annual election shall beheld on the second
Monday in August, 1917, and thereafter on
and the election shall be held between the
hours of ten a. m. and four p. m. All vacan-
cies on the board of directors for whatever
cause shall be filled by the remaining direc-
tors Fernand X. Levy shall be the first pres
ident, Ferdinand b. Stern shall be the hrst
vice president, and Samuel Hellman shall be
the first secretary-treasuret, and they shall
hold Office until the second Monday in August
1917 and each succeeding board of directors
shall elect its principal officers for the term
of their election, and only stockholders shall
be eligible Tor election as memoer OF the
board of directors.
Article VIII-Whenever this corporation
is dissolved, either by limitation, OF for any
other cause, its affairs shall be liquidated by
the obard of directors, who are hereby vested
with full power to sell any and all assets
of the corporation, either separately or in a
mass and to convey full and complete title
thereto, and shall have full power to do and
perform all acts necessary and proper to fully
and completely liquidate the affairs and dis
tribute the proceeds, if any, among the stock
holders of thesaid corporation TO the amount
of stock held by each.
Article IX.-Ths act of Incorporation may
be amended, altered or modIied, or this cor
poration dissolved by a vote of three fourths
Of the shares of the total amount of stock
at a meeting convened for that purpose after
ten days notice in writing mailed to the
address of each stakeholder.
Thus done and passed in my notarial office,
in the city of New Orleans, State of Louisi-
ana on the day, month anu year first above
| written, in the presence of Azelie Bennett
and c. J. Vendage, competent witnesses,
who have hereunto signed these presents,
together with theparties hereto, and me,
notary, after a reading of the whole.
Original signed: Fernand K. Levy, ten
shares, 30l6 PrytaniaSt., New Orleans, La.
Ferdinand B. Stern, ten shares, 1904 Milan
c. ell