The herald., 1916-04-13
CHARTER
)F LDl lSlANA LIVE STOCK ASSOCIl
TON, INCORPORATED"

CHARTER
OF LOUISIANA LIVE STOCK ASSOCIA-
TON, INCORPORATED
State. q louisiana Parish Of Orleans. City
OF New Orleans
Re it known and remembered. that on this
18TH day OF the month OF March, IN the year
nineteen hundred and sixteen. and Of the
independence Of the United States Of Amer
lca, the one hundred and f0rty-arst, before
me, Meyer ;. Dreitu,. notary public duly
comm ,sIoucd and qualified ard IN the pres
enCc OF the witnesses hereinafter named and
undersigned: Personally came and appeared
the persons whose names are hereto subscribed
VINO declared that, ayallIug themselves Of the
prpysuOUs Ot the laws 0i this state relative
- the organ'zatlou OF corporations, and more
particularly 10 AZ; 2o7 Of the General Assem-
bly, o: the State Of Louisiana, for the year
nineteen hundred fourteen, they have cove
nanted and agreed, and DO by these presents
covenant and agree 10 bind, form and Co0S;I-
tutc themseiye-, aS well aS such other Per
sons as may hereafter join or become asso-
Grated with them, into an association and
body polite in law, for the objects and pur-
poses and under the agreements and stipula-
tons hereinafter set forth, tO-wit:
Article The name and title Of Thu, cor
poration shall be the Louisiana Live Stock
Association, Incorporated" and under THAI
name II shall have and enjoy AL the rights,
privileges and advantages conferred by the
-NLAtt 81 LOUISIANA ON corporations IN gen
eral, and shall exist for a period Of ninety
nine years, unless, otherwise dissolved, be-
ginning from date Of this act Of iucOrpUra-
ton. II shall have power and authority to
sue and be sued, TO buy and sell, hold, own,
lease, mortgage and hypothecate and pledge
property, real, personal and mixed; to name.
elect and appoint managers, directors and
clerks and other EMPLOYEES 10 properly con-
duct It's corporate business, and to make by
! laws, rules and regulations as may be found
necessary or desirable for the management
Jt the corporation. and shall do everything 10
correctly carry out its objects and purposes.
Article 1.-THE domcie of this corpora
ton IS hereby declared to be the city OF
New Orleans, State Of Louisiana. All cita-
tions and other legal process shall be served
upon the president; and in the absence OF
the president on the vice president, and in
the absence Of both Of them, upon the sec
| retary-treasurer OF the corporation.
Article lII.-The objects and purposes for
which this corporation Is organized, and the
business to be conducted by il, are declared
| to be. the Importation, exhibition. purchase
and sale Of thoroughbred and common cattle,
| hogs and horses. To own and improve real
estate, and to lease or operate the same, for
| all purposes incidental and gcrnane to the
| exhibition Of stock, hogs and horses, both
| thoroughbred and common, which shall in.
| Clude the holding OF speed contests, athletic
games and sports and aviation exhibits, and
| the charging OF an entrance fee for same; and
Tor such other purposes and objects as may
| be necessary, or incidental to the objects
| and purposes hereinabove stated.
Article IN.-Thc capital stock Of this cor,
| poration i to be one hundred thousand dol.
| lars (SlO0,u9OO, dIveded into one thousand
| shares at the par value of one hundred dol
! lars $4,000 each: and this corporation shall
| begin business when five hundred shares OF
| and paid for. Said stock shall be represented
| by certificates OF stock and TO be issued al
| such times and for such amounts at the
| price and upon such terms and conditions a:
| the board OF directors shall see mt and prop
er, and shall be paid for in cash or its equi
| valent in property, the board of directors
shall decide. All shares shall be full paiC
| and worcestershire. No stockholder shall
| have the right TO sell, or otherwise dispose
| of, his stock in this corporation, without hrs
| offering same TO this corporation, and TO the
| individual members OF this corporation, al
| the book value thereof and this corporation
| book value for the benefit of the othel
| stockholders OF the corporation. Should thu
corporation decline TO purchase said stock the
| shareholder shall have the right OF option
| son or persons, firms corporations.
| Article V.-Au the corporate powers o.
| this corporation shall be vested in and thu
management and control of its business anC
| composed of three stockholders, two OF whom
| shall constitute a quorum; no member o
| said board to own or subscribe fer less thar
one share of stock. Said directors shall b
q
| stockholders TO be held on the 10th day o
May, 1910, and annually thereafter on tina
day. Every stcokholder shall be entitled
in person or by proxy to one vote tor sc ever,
! shall be held under such rules and regula
tions as may be determined by said board o
| directors. Ten days written notice, direct
| ed to the last known address OF every stock
holder shall be given OF all elections.
The directors thus elected shall continue ii
office until the 10Th day of May, 1917, or unit
their successors shall have been elected an
qualified; any failure to elect officers or d.
ture of this charter. Any vacancy occurring
in the board of directors shall be filled b,
the remaining directors for the unexpire
term. A majority of the stockholders at
meeting shall constitute a quorum tor IN
transaction of any business.
Said board of directors shall, at its frs
meeting after its election, elect out OF II
own members president, yiee-preslaent an
the power in its discretion to unite two o
more officers, the same TO confer upon on
person Said board shall have the power t
| appoint and dismiss such officers, agent:
clerks and employees as they may deem ad
yisable and TO FIX their compensation.
| Said board of directors is especially veste
with the power and authority to mortgage 9
pledge the property, real, personal and mixeC
Of the corporation as they may deem mt an
| proper; to purchase, hold, own, mortgage
pledge, lease and dispose of real estate, IN
. proved and unlmproved, city ana county,
execute mortgages, issue notes, bonds an
, other evidences Of debt, and TO borrow an
lend money on same to and from individual
firms and corporations, at such times, Tor sue
prices and upon such terms and condition
as they may deem advisable. :, =,
Said hoard of directors shall make an u
: rules, regulations and bylaws for the go'
/, eminent, control and management OF the on
mess and affairs of the corporation, and alte
AMEND and change the same at pleasure
| Article Vino stakeholder shall ever
held liable or resposble for the contracts
t faults of said corporation in any further, su
: than the unpaid balance due on the shar
4 of stock owned by him, nor shall any me
/, informality in organization have the enc
n ~ rendering this charter null, or exPosl,
e a stockholder to any liability beyond Z
amount Of his unpaid stock, nor shall any
5 formality or irregularity in organization ey
;. have the effect Of rendering any stoekhOiu