The herald. [volume] (New Orleans, La.) 1905-1953, 1918-09-12
CHARTER
CHARTER OF
MOTOR & FIRE INSURANCE AGENCY,

moioN FINE W.
United States of America, State of Louis
lana, Parish of Orleans, City OF New
Orleans.
Be it known that on this 5rd day of the
month of September, 1918, before me, Edward
B. Ellis, Notary public, duly commissioned
in and for the above named parish and
state, personally came and appeared the
several persons who's names are hereunto
subscribed, who, in the presence of the wit
nesses hereinafter named and undersigned,
each and all declared that, awaiting them
selves of the laws of the State of Louisiana,
and especially of Act No. 267 of 1914 they
have organized, and do by these presents
organize and constitute themselves, as well
as all other persons who may hereafter be
come associated with them, into corpora
ton and body polite in law, to enjoy cor
porate existence during period OF ninety
nine (99) years after this date, unless sooner
dissolved, and under the following stipula-
tions, which they hereby adopt as their Ar
ticles of Incorporation, or Charter, to-wit:
ARTICLE 1.-The name of this corporation
shall be Motor & Fire Insurance Agency,
Inc and its domicile is hereby declared TO
be in the city of New Orleans, State OF
louisiana and all citations or other legal
process shall be served the President,
and in his absence, on the Secretary.
ARTICLE 1.-THE objects and purposes
of this corporation and the nature of the
business to be carried on by il are hereby
declared to be as follows:
To act as agent for insurance companies
in soliciting and receiving applications for
fire, casualty, plate glass, boiler, elevator,
accident, workmens compensation, tornado,
health, burglary, rent, marine, credit and
life insurance, and all other kinds OF in
surance the collection of premiums and doing
such other business as may be delegated to
agents by such companies, and to conduct
general insurance agency and insurance
brokerage business; to act as agents tor
bonding companies, soliciting and receiving
Co. all IaWaAc and
character; to purchase, lease or otherwise
acquire real estate and to hold, improve,
mortgage and dispose of the same; to own
stock in any other corporations and vote
the same, and generally to do any and all
things incidental or germane to any of the
objects and purposes above specified.
ARTICLE III.-The capital stock of this
corporation is hereby fixed at the Of
Five Thousand (S5O0000 Dollars, all of
which shall be common stock, and which
shall consist of fifty (S0) shares Of the par
value of One Hundred $4,000 Dollars per
share. The capital stock may be increased
" Ito Twenty-Five Thousand ($25OO0OO) Dol
lars No stakeholder of this corporation
shall sell, or offer to sell, any stock of this
corporation owned by him, until he shall have
FIRST offered the same to each of the other
stockholders thereof, for a period Of thirty
90 days, at the book value of said stock
This offer shall be made in writing to the
board of directors of this corporation, who
shall for the purpose be considered the agent
have the right to purchase at said book value
in proportion to the stock owned by them.
ARTICLE IV.-All of the corporate powers
Of this corporation shall vest in and be ex-
ereised by Board Of Directors, composed Of
not less than three than five stock
holders of this corporation, to be elected at
a meeting OF the stockholders held for the
purpose, at the domicile of the company on
the second Tuesday of November of each
year, beginning with the second Tuesday of
November, 1918, notice of which meeting
shall be given to each stakeholder at least
fifteen QS days prior to such meeting
either personally. 4 by derbsiting said
to the last known address of each stock
holder. as shown by the books of the cor
poration at least fifteen tl0 days before
such meeting.
The Board of Directors shall immediately
flee, select from among their number, Presi-
dent, a Vice-President, a Secretary and
Treasurer. The offices of Secretary and
Treasurer may be held by one and the some
person.
At such election of directors, each stock
holder shall be entitled to cast one vote for
each share of stock owned by him, either in
person or by proxy, but voting shall not be
cumulative.
The said Board of Directors shall have
power to appoint agents and employees for
this corporation, or to remove the same at
pleasure, and they shall also have the power
TO I'LL any vacancy in their number and
shall make such Bylaws from time to sine,
and amend the same as they may deem ex-
pedient
The first Board Of Directors of this cor
poration and the officers thereof, who are to
serve until the second Tuesday of N>wemr |
Der, 1918, are to be elected by the stock- |
FOLDERS within five 90 days of the signing
Il this Charter.
ARTICLE V.-This corporation may begin /
'usiness as soon as fifty per cent ESQ per |
enD of its capital stock has been sub.
cribed for.
ARTICLE VI.-This charter NAV he
mended, the capital stock thereof increased
r decreased, or this corporation dissolved.
! accordance with the provisions of Act