The herald. [volume] (New Orleans, La.) 1905-1953, 1919-05-29
CHARTER.

So ,yb;ch This corporation is organized and
established and the nature OF the business t'
tn be carried on by it are declared 10 Oe'
To conduct a general insurance agency ousl-
ness To solicit insurance of all kinds, either
on a salary or commission; to act as III
srrance engineers; to act as agent ana man
ager for resident and nonresident insurance
companies associations or combinations OF
persons of all kinds; to inspect insurance
risks, to adjust insurance losses and genera,
average; to do a general stock brokerage anu
commission business; to buy and otherw1Se
dispose Of own and deal in stocks, bonds,
mortgages, debentures, trust receipts, COM
mercial papers, consols, and government Sc
curities, either for itself or as the agent
factor representative OF any person. tlrH
or corporation, and upon commission or other-
wise to transact general real estate agency
and brokerage business, including the man
agement OF estates; to buy, sell, let, lease,
hire. own or demise or generally deal and
trade in real estate, whether improved or
unimproved, either as principal or agent Tor
its account for account OF others, ana
upon commission otherwise; to borrow
money and grant mortgages, bond mortgages
or notes therefor; TO lend money and to re-
ceive therefor mortgages, bonds, or any
other evidence of Indebtedness; TO carry on
any other businests which under the law il
may be entitled to carry on or which may
seem to the corporation TO be calculated di-
rectly or indirectly to effectuate the afore-
said objects, or either of them, or TO faclli-
business, or businesses, or any part thereof,
or in the TRANSACTION OF any other lawful
business that may be calculated directly or
indirectly 10 enhance the value OF or to
render profitable any Of the company's prop
critics and rights and generally to have and
exercise all such powers and privileges as
are incidental or relate to the objects and
purposes hereinabove set forth, or as may be
necessary, useful or convenient for ettecung
said objects and purposes.
ARTICLE IV.-The Capital Stock of this
corporation is hereby fixed at the sum Of
Five Thousand Dollars CS5.GOOO0), divided
into and represented by One Thousand Q,0OO)
shares of stock of the par value of Five
Dollars $500 each. Said stock shall be
paid for in cash at such time in such
amounts and after such notice to the sub
scribers as may be fixed by the Board Of
Directors and the same may be issued at not
less than par for labor done or property ac-
tually received by the corporation.
This corporation shall become going con-
Germ and be authorized to do business as
soon as Three Thousand Dollars (S3;OWOl OF
its capital stock shall have been subscrlneu
and paid for. The amount to which the capi,
tai stock of this corporation may be increased
shall be the sum Of One Hundred Thousand
Dollars (SlOO,O0000). .,
No stockholder shall have the right to sell
or otherwise dispose of any stock OF TINS
corporation without first offering the same IN
writing to the Board of Directors OF this cor
poration through its President, which board
shall have ten Q0) days within which TO
accept or refuse the offer, but said Board
of Directors shall have the right to purchase
any stock so offered or any part thereof at
its book value irrespective of what price
may have been offered for said stock by
anyone Should said Board OF Directrs tan
to avail itself of said privilege within sald
period of time, the said stock may be OTTER
ed and sold to any other person or persons
ARTICLE N.-All of the corporate powers
of this corporation shall be vested in and
exercised by Board of Directors. composed
of Five 81 Stockholders, three 80 or whom
shall be elected annually on the third Tues.
day in January of each year at a general
meeting of the stockholders, except the first
Board of Directors appointed an this Char
ter, who shall hold their offices until the
| third Tuesday in January, 1920. All such
elections shall be held by ballot and con-
Quoted at the office of the corporation under
the supervision Of two 2) commissioners to
be appointed by the Board of Directors.
! Notice of such meeting and of all other
stockholders meetings Shall be given in the
| manner prescribed by law, and when not SC
| prescribed, then written notice of such meet
| ings shall be deposited at least fifteen Q5)
| days prior to the date of such meeting, in
postage prepaid, properly addressed to each
stakeholder at his last known residence OF
| place of business.
| At all such elections and at all corporate
| meetings every snail DC entitled
10 one vote for each share of stock standing
in his name on the books of the corporation
TO be cast by him in person or by written
proxy, and majority of the votes cast
curing among the Directors by death, resg
nation otherwise, shall be filled by cleo
ton for the unexpred term by the remain
ing Directors. The failure to elect Qirec
tors on the day above specified shall not dis
solve the corporation, nor impair its cor
porate existence or management but the Di
rectors then in office snail remain in office
until their successors elected and quail
| fled.
| The Board of Directirs shall. annually. al
| its first meeting after election, elect from
| its own number a President one or more
1 NIce-Presdlents. Secretary and a Treas
urer or IT may elect one person who shall
be both Secretary and Treasurer The Board
tant Secretaries, neither of whom need be
members of the Board or stockholders in
| this corporation. The Board of Directors
shall have power and authority to fix and
appoint all such other officers. agents and EN-
ployees as may be deemed necessary for the
purpose and business of this corporation
| Said Board shall have power and authority
TO Tx the compensation and define the du
ties OF every officer and employee and al
officers and employees shall hold office ant
| employment at the pleasure of said Board
| SAID Board may make and establish, a:
well as alter and amend, any and all by
| 4@"s' iuiSS ana regulations necessary anC
proper IN its judgment for the conduct. sup
port and management of the business anC
affairs OF said corporation. At all meeting,
OF said Board of Directors, each Directs
shall have the right to appoint fran amongs
| the Directors a proxy to act in his plac,
and stead: The said Board shall have full
power and authority to borrow money. exc
cute mortgages, and create liens; TO issu,
ponds, notes and other obligations and Il
secure the same by mortgage, pledge or other
wise; and, generally, to do any and al
thlngs reasonable, convenient and necessar,
TOR the proper carrying on of the bushes,
and affairs of said corporation.
| SAID Board may issue full paid shares n
stock for cash or in payment of labor don,
and performed for said corporation, or pron
ierty actually received by said corporation
by law iequiie'
| ARTICLE VI.-Whenever this cornor,t;o,
snail be dissolved, either by Limitation O.
rom any other cause, its affairs shall h,
| hquluateq ny VI commissioners TO be an
| pointed from amongst the stockholders at
| general meeting of the stockholders con
| Vehed Tor such purpose; two thirds in amoun
OF the capital stock of said corporation rem
| resented at such meeting shall be necessar,
10 eject. said commissioners shall remaii
IN office until the affairs of said corporat;o,
shall be fully lquidated In case of IN,
| ueath OF one or more of the COMM ssioners
| tHe vacancy or vacancies shall be filled b,
erection by the surviving commissioned
| SAID eommi ssioners shall hold all bowers con
TERED upon them by law or by the stool.
holders at such meeting, if not inconsistent
with law.