The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-12-01

noeSe0 hereinafter ndmeu anu unueTe iSHtu,
Personally came and appeared the sev.
eral persons whose names are hereunto
subscribed. all Of the age OF majority
y who declared thst, availing themselves OF
the provisions of the laws of this State
relative to the organization OF corpora
lions, they hereby form themselves into
and constitute a corporation for the OBJ
jects and purposes, and undsr the stlpula'
lions hereinafter set forth.
ARTICLE
The name and title Of the corporation
shall be the LOUISIANA MOTOR COM
PANY, INCORPORATED, and under its
corporation name 1t shall have and enjoy
succession and existence for period of
Niuety.nine 1897 years from the date here
of: and shall have, enjoy and possess all
the powers. rights, privileges and immu-
mites accorded to corporations under laws
fthis State.
ARTICLE II.
The domicile Of this corporation shall be
Y sh. Louisiana. and all citations or other
legal process shall be served upon the
President of the corporation. or III his abb
sence, upon the Vice. President.
ARTICLE III
The objects and purposes for which this
OOrDorAtiOn is organized and the nature
Of the business to be carried on by 1t. are
hereby declared and specified to be: TO
act rs tho selling agents or representatives
OF the manufacturers OF automobiles, auto
mobile parts. trucks, tractors, power driv-
en- vehicles Of all kinds, tires, accessories
and specialties OF all kinds: to buy and
cell automobiles. automobile parts, and
accessories OF all kinds, trucks. tractors.
and power. driven vehicles Of all kinds. or
parts of same, tires, oils, grease and gas
cline, and to acquire, own and operate
garage at Morgan CITY; La operating a
special repair work upon and for automo>
biles. to own. to let, lease and hire auto
mobiles and to operate q livery service; to
establish branch agencies or garages
sherever it may desire. and with full
power to buy, hold. sell and exchange all
classes OF goods, wares, merchandise and
die: and, In the interest of such business,
10 make such advances as are required;
aud it shall also have the power to buy,
sell, hold. lease, mortgage, aiienate and
deal in real estate Of all sorts and to erect
buildings thereon, lease. let and rent
same, and to acquire and hold. sell. en-
cumber or dispose of stocks and bond, Of
other companies to such extent permitted
BY law; to exchange its entire capital
stock or any part thereof. for property
which it is authorized to acquire. or to
exchange its entire assets and business.
or any part thereof. for property, stocks,
bonds or other obligations OF other com
panies; and it shall have the power 10 re-
ceive security by way OF mortgage and
pledge, or in any other manner, and to
borrow money and to issue notes and Sc
cure same by mortgage, pledge or other
wise; and generally to do all things neces-
eary and properly connected with or
incidental to or cony enient to any Of said
obligations and purposes.
ARTICLE ".
ta) Tho capital stock OF this corpora
ton Is hereby fixed at Six :. thousand &C.
O0o.o0) Dollars. to be divided into and
par value of One Hundred tSl0O0 90, Dol
lars each, which shall be paid for in cash,
or may be issued for property actually
received by the corporation or for service,
rendered. This capital stock may be in
creased to Ten Thousand t$l0.UO0O0) Dol
lars.
Abb No stakeholder shall have the right
held By him unless ne shall have offered
same in writing to the Board Of Directors.
which shall have the right to purchase
same within Ten COY days hereinafter at
the valuations determined by the Board;
and in case of dissatisfaction as TO the
price the matter shall be arbitrated. one
arbitrator with the powers Of amcable
and an umpire to be selected by those two. |
who shall take oath and whose decision
shall be final. And all shares Of stock
when so purchased may be reissued at not
less than pefvalue.
(cl This corporation shall be operative |
and 90 into business and become Il going |
concern when Six Thousand $4,000. OO) |
Dollars of its capital stock shall have been
subscribed and paid for.
ARTICLE
All powers of this corpor ration shall be
vested in aud exercised by Bolrd Of |
three (3) Directors. No person shall be
ligible as Director unless he owns in
hts own name One tD share full paid of |
the capital stock. The Board shall elect
from their number President, Vice.
President, and Secretary-Treasurer, and
md employees. The Board Of Directors
shall be elected annuslly, on the first
Monday in January of each year. the first
election to be held in the year of 1918. All
goch elections shall be by ballot at the
bfice Of the corporation. Notice Of an
nual meetings, as well as OF special meet.
pgs Of stockholders shalt be given by
lneance of the date OF such meetings, to
d stakeholder appearing as such on the
16oks OF the Company, at his last desig-
lated address, or at the general delivery
It Morgan City. La, II he has not desig-
u ted al address. Each shareholder shall
% entitled to one vote for each share of
took standing in bis name on the books
u the Company, said vote to he cast In
,erson Or by proxy, and majority Of
otes shall elect. The Board OF Directors
hall have the power to fill all vacancies
9hteh may occur, or in any manner arise, !
0 be created on the Board Of Directors
ven though no quorum remain at the
line such vacancies are t. be filed. Fail. ;;
re to elect Directors on the date above , ,
peciGed shall not dissolve the corpora /,
lon, but the Directors then in Office shall !,
cmain Ia office until their successors are I.
lected.
The Board Of Directors shall have power
. make and establish. as well as alter and !