The herald., 1917-10-11

of full legal age and residents of the Paris
and State aforesaid, who declare:
That, availing themselves OF the provision
| of the Laws OF the State OF Louisiana, rcla
| tive 70 the formation OF corporations, an
| particularly, the provisions OF Act h7 o
| 1914 OF the General Assembly OF the Stat
| OF Louisiana they do hereby and by thes
| presents, on behalf OF themselves and OF sue
other persons may hereafter become as
| sOcated with them, covenant, and agree
and bind and obhgate themselves, as wei
as such other persons to form and constitute
body corporate and polite in law, 10
the objects and purposes and under the stIpu
lstions following, to-wIt:
Article The name OF this corporation
shall be "Sangasssn Building and Realt!
Company Inc
Artlce U.-That said corporation shal
have, III its corporate capacity and name
the enjoyment of all the rights, advantage
and privileges granted by Law 10 corpora
tIonS; 10 contract, 10 sue and be sued 4
adopt and use a corporate seal, 70 buy, hold
/ receive, convey mortgage or pledge property
both real and personal, 10 issue notes anC
other written obligations or negotiable Iustru
mcuts, to have and employ such agents and
employees as the interest and convenience
OF the said corporation may require OF de.
maud, 10 name and establish such bylaws
rules and regulations may be deemed
necessary, and IN generai to do any and all
acts, pertinent to its business, and not IN
violation OF the Law.
Article ILL ne OnleCtS ana purposes OF
tins corporation are hereby declared 70 be:
Generally 10 engage IN the business a. buy
Irg, selling, renting, leasing, Or lml wing
real estate and 10 act agent broker,
OF principal In transactions relative there
to; to make or have made plans and specI-
hcatiOns Tor the erection Improvement OF
buildings, and TO act as contractor, sub
contractor, OF principal IN such erection
OF Improvement; 10 obtain or grant loans
on real esate improved or uumpr0yed; and
IL Ip~
mcnts relative thereto lawfully to acquire,
and dispose OF, by purchase, sale, donation
or otherwise and to mortgage, cucumber, or
affect real estate or mOvably prop
e-ty necessary or pertinent 10 its business;
TO collect rents for its own account or for
account of others; and 10 solicit and place
w:;h agents or insurance companies policies
Of insurance affecting or protecting real es-
tate, building contracts or matters connected
with the business or within the scope of the
and in general 70 do and per
form any and all acts and things, either
necessary and pertinent 10 the purposes aud
objects Of the cooperation, or connected with,
promotive OF or related to, such purposes and
objects.
Article IV.-The capital stock Of this cor
poratIon Is hxed at the sum OF Five Thou
sand S5.0U0D divided INTO Fifty shares
of a par value Of One Hundred Dollars
$4,000 each, more than my per cent OF
Shilh has been subscribed for and paid for
All shares OF stock shall be full paid and
non assesSable No transfer of stock shall!
'e binding upon the corporation unless made
1ron is books No stakeholder shall sell
my share OF his stock 20 any person unless
lie shall have first offerea such share or
shares 10 said corporation al the book value
hereof IS established by the last inventory,
mi when said offer shall have been made
. tn. corporation, il shall be it's duty 10
nd they shall have an opportunity and option
o purchase said stock, in the same proper
on each of said stockholders then hold |
ass cf stock in the corporation; the failure |
e declining OF any Stockho!der OF stock |
oiders to avail himself or themselves Of
uch Cf'er TO acquire 70 accrue 10 the others |
I TIE same proportion as aforesaid: WI Oh |
ptIon they must exercise within thirty |
avs after the receipt OF the said notice |
hereof from the corporation, which notice |
hall he sent by registered mail
Article N.--This corporation shall have the |
ght 10 increase its capital stock 70 the fur
ler Of Twenty-Five Thousand Dollars
Sl5,ODOOO) to he divided as the present CAPT.
al stock is divided, provided said increase
hall have been voted al a meeting OF the
stockholders duly called for the purpose and
y a vote OF two-thirds OF all the outstand-
* stock.
Article VI.-The domicile of this corpora
on shall be the City Of New Orleans,
arish of Orleans, Louisiana.
Article NII.-This corporation shall exist
i'd have succession for a period OF ninety
inc years from date hereof unless sooner
ssolved liquidated.
Article VIII.-The corporate powers OF this
rporation shall be vested in and shall be
iercised by a Board of Directors consist
g OF three stockholders, majority OF whom
TALL constitute a quorum for the transac-
on of business, provided such majority
gether represents over one-half OF the out
anding stock The Directors shall be elect
annually by ballot by the stockholders at
annual meeting of stockholders TO be
he - ,h.- |
Oh and every year. Each stakeholder shall
entitled, IN person or by proxy, 10 a
re for every share OF stock held by him.
itcen days notice OF tne annual meeting
81 known address by registered mail. The
rectorS elected at any annual election !
all continue in Office for one year or
iii their successors shall have been elect !
and qualified. The said Board of Drec
rs, shall, al its first meeting, nominate |
d elect out of its members a President
Nice-Presidcnt and j Secretary. The ,
esident shall exercise the functions of and :
'charge the duties of Treasurer He shall :
We power without other authorization 20 I
IN checks, execute notes, secured by mort a
&c or otherwise, or unsecured, negotiate :
lie, purchases, leases, loans, building or
Ter contracts for and in the name of the {
porat;on; and sign for and in the name OF {
: corporation any deeds OF sale or pur- :
ase leases, mortgages, contracts, or other =
'truments for the business or purposes of ;,
: corporations; and in general TO be and =
as General Manager of the corporation !,
officer Of this Corporation shall receive !,
y salary except by vote OF majority of .
standing stock.
Article IX-Until the annual meeting OF r
ckholders, to be held in the year 1918. 7
until successors are elected and qualified ;
following shall constitute the Board of -
rectors and Officers OF the Corporation: NJ
IN Sangassan, President; f. +. Lansing,
ce-Presdent; Lawrence Hitler, Secretary :,
article N.-Every subscriber to the capital 7
OK of the corporation shall be liable only a
an amount equal 10 the unpaid balance {
. on the stock for which he may have !
'scribed, and no stakeholder shall ever +
held responsible or liable for the con-
cts or faults of this corporation in any
Their sum than above provided
.rticle Nl.-Service of all legal process
ii be made on the President and in his {
ence upon the Vice President and in the :
ence OF either. then upon the Secretary
rticle Nll.-The subscribers to the CAPT
stock OF this corporation have set opposite
IT respective signatures hereto, their
eral addresses and the amount of their L
pective subscriptions TO stock so that this
OF Incorporation will serve as the original
scriptiOn list of the Stock of the corpora.