The herald. [volume] (New Orleans, La.) 1905-1953, 1917-08-09
CHARTERS.
OF "BONNABEL LAND COMPANY, IN
CORPORATED"
United States Of America. State OF ouisana,
Parish of Orleans, City OF New Orleans.

United States of America. State of Iouisiana,
Parish OF Orleans, City OF New Orleans.
BE it known, That on this day, the twenty
fifth OF the month of July, IN the year OF our
Lord one thousand nine hundred and seven
teen, and of the Independence OF the United
States OF America, the hundred and forty
second; before ne, BuSslere ROuen, a notary
public in and for the Parish Of Orleans. State
OF Louisiana, duly commissioned, sworn and
qualified. and IN the presence OF the wit
uesSes hereinafter named and undersi gned:
Personally came and appeared:
The persons whose names are hereunto
subscribed, all of the full age of majority;
who declared that, avaIlug themselves OF
the provisions OF the laws of the State OF
Louisiana, relative to the organization OF
corporations, and more particularly of Act
No 267 of the General Assembly of this
| State, approved July 9, 1914, they have COW
enanted and agreed and do, by these pres
ents, covenant and agree, bind form and
| constitute themselves, as well as such per-
| sons may here after Join and become aSSo-
| ciated with them, into a corporation and
! body polite in law, for the objects and
| purposes and under the agreements and stip-
ulations folliwng, to-wt:
Article Frst-The name and style of this
corporation shall be: "Bonnabel Land Com
| pany, Incorporated" and under that name
| il shall have and enjoy all the rights, ad-
vantageS and privileges granted by law TO
| corporations; il 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; 10 make and use
a corporate seal, and TO break or alter same
| at pleasure; 10 hold, receive, purchase, con-
vey, lease, mortgage, hypothecate or pledge
| property, both real and personal; to issue
| bonds, notes and other obligations uego-
table instruments; to have and employ such
| managers, directors, officers, agents and other
employees as the interest and convenience OF
said corporation may require or demand; 10
make and establish such bylaws, rules and
regulations for the corporate management and
control Of the affairs of the corporation as
may be deemed necessary and exPedlent.
Article Second The domcie of the said
corporation shall be established in the City
OF New Orleans, Louisiana, and all citations
and other legal processes shall be served on
the PRESIDENT in his absence on the vice
president, and in the absence OF both upon
the secretary treasurer.
Article Third.-The objects and purposes
for which this corporation is formed and the
nature of the business to be carried on by
it, are hereby declared to be: to purchase,
sell and improve real estate in the State OF
Louisiana and elsewhere; 10 rent or lease
the same; TO construct and repair buildings
and improvements thereon; to cultivate lands,
and to do any other business incidental 10,
or necessary in, carrying out the foregoing
purposes.
Article Fourth.-The capital stock of this
corporation is fixed al the sum, of one hun
bred thousand dollars (Sl0C,OOOOO) divided
into and represented by one thousand 1900
shares of one hundred dollars $4,000 each,
payable in cash or its equivalent All shares
of stock shall be fully paid and nOn-asses-
sable.
The capital stock subscription of Alfred
Bonnabel to this company will be paid by
the execution of valid deed 10 this corpo-
ration, transferring to it certain real estate
situate in the Parish of Jefferson, State of
Louisiana, and fully described in an an
nexed detailed description and valuation I'M
der oath, filed herewith and made part
hereof as required by law; which property
is therein appraised by the directors and by
all the stockholders who hereunto sign their
names, as being valued at ninety-hve thou
sand dollars (S95,0O.OO), and in exchange
for the same the corporation will issue to the
said Alfred Bonnabel the nine hundred and
fifty (950) shares of the capital stock of this
company subscribed by him, the same being
the value of said property.
Any shareholder wishing to sell his or her
| stock must first offer the same, in writing,
TO the other shareholders through the board
/ of directors, at a price not exceeding the
book value thereof, and they shall have ten
| 00) days in which TO accept or decline such
offer. Should any shareholder make any sale
in violation of this clause, the said sale
shall be null and void.
No transfer of stock shall be binding upon
the corporation unless made upon its books
and all certificates of stock shall be signed
by such officers as may be designated by the
board of directors.
This corporation shall have ne right e
increase its capital stock Up to the further
sum of four hundred thousand dollars (S400,
10000, to be divided into shares of one hun
. bred dollars $4,000 each; provided salt
increase in the capital stock shall have beer
authorized by the stockholders at a meeting
= to be held pursuant to the provisions o
!. Article Seventh of this Charter.
, Article Fifth-All the corporate powers o
! this corporation shall be vested in, and ex
Q ercised by and the management and contro
E of its affairs shall be exercised by boart
Of directors composed of seven Cd stock
l. holders. A majority of the directors shall
}, constitute quorum for the transaction o
8 all business.
!. The directors shall be elected annually b,
r ballot, by the stockholders on the secon
Tuesday lay, in January beginning with tn
S in person or by proxy to vote for ever,
S share owned by him, or her, and at all cleo
e lions, majority of the votes cast shall b
= | necessary to elect Said elections shall b
v held under such rules and regulations a
!. may be determined by the board of directors
: | after fifteen days notice by mail OF suel
n election shall have been sent 10 each stock
S holder at his or her last known address.
d The directors thus elected shall continue il
office for year Except the first boar
= here after mentioned) until their success
e sors shall have been duly elected and quail
e fed. No failure to elect shall be regarded a
d forfeiture of this charter.
g Any vacancy occurring on said board shall
= be filled by the remaining directors for tn
= unexpired term.
Said board Of directors shall, at its frs
i meeting after its election, nominate and sc
i lect out of its number, president, vice
|. president and a secretary treasurer.
e All obligations of the company must b
Il signed by the secretary-treasurer, provided
that the board may by majority vote, spe
# cially designate some other person for par
l. tcular instances.
= Said board of directors shall have the RICH
If to consolidate any two of the said othce
IS into one, or to segregate said Offices, as ais
It the right to appoint and dismiss such clerks
II managers and other employees of the corpo
n ration as conditions may justify or the bus
C. mess of the corporation may require III
C. tenure of Office of all the employees of tn
c. corporation shall be at the pleasure of N
n board of directors,
II ANY of the directors officers shall hav
DI the right to appoint, in writing, anothe
e. director or stakeholder to act as his prox
{, and in his stead at any and all meetings {
"a the board of directors.
- Article Sixth-No stakeholder shall eve
al be held liable or responsible for the cor
re | tracts faults or debts of the said corpor;
IN ton, nor shall any mere informality IN II
mr. organization have the effect Of renderin
this charter NULL of exposing stool
r. holder to any liability beyond any oalan'
H. due on the shares owned by him.
on Article Seventh.-This act of incorporate
er may be changed. modified or altered. or tn
III corporation may be dissolved, with the assei
ii. Of the stockholders owning two-thirds OF
IL the stock of this corporation at a gener
o. meeting convened for that purpose, and att