The herald. [volume] (New Orleans, La.) 1905-1953, 1919-06-12
CHARTER OF S. sEGARI & CO., INC.

CHARTER OF S. SEGARI CO., INC.
United States OF America, State OF LOUIS
lana. City OF New Orleans. be IL known,
mat on this seventh day OF the month VI
Nav in the year one thousand, nine nun
dred and nineteen; before me- relN ). 80
tous, Notary Public, duly commissioned
and sworn in for the Parish OF Orleans anu
City of New Orleans, therein residing; per
sonally appeared the persons whose natnes
are hereunto subscribed, who declared IND y
ayailing themselves of the provisions Oh the
laws of this State, relative to the organiza-
ton of corporations, and more particularly
Act No 267 of the General Assembly OF
this State, approved July 9, 1914, they nave
covenanted and agreed and DO, by tness
presents, covenant and agree, oino' ioIah anu
constitute themselves as well as suen otner
persons who may hereafter JON or become
associated with them into corporation Vi
BODY polite in law, for the objects ana pul-
poses and under the agreements anu suPu
lations following, to-wit:
ARTICLE 1.-The name and style OF this
corporation shall be: IS. Segari and Co.,
Inc" and under that name 1t shall nave
and enjoy all the rights, privileges, and al
yantages granted by law TO corporations' IL
shall exist for the period OF ninery-nine
to contract, sue and be sued in Its corporate
name; to make and use corporate seal;
and the same to break or alter at pleasure'
to hold, receive, purchase, convey, mortgage,
hypothecate or pledge property, both real and
personal: to issue bonds, notes and other
obligations or negotiable Instruments; 10
have and employ such managers, directors
officers, agents and other employees as tne
interest and convenience OF SAID corporation
NAV require or demand; to make and estao-
lish such bylaws, rules and regulations LoI
the corporate management and control OF inc
affairs of the corporation as may be deemeo
necessary and expedient.
ARTICLE 1.-The domicile or said cor,
poration shall be established in the City OF
New Orleans, State of Louisiana, and all
citation and other legal process shall be
served on the President, in his absence, on
the Vice-P President, and in the absence oil
both, on the Secretary-Treasurer.
ARTICLE III.-The objects and purposes
for which this corporation is organized and
the nature of the business to be carried on
by it are hereby declared to De: to deal In
buy SELL consign and to receive on consign'
ment, fruit, produce, and other food stutts
and generally to engage in any other ousl,
undertaking or enterprise on ;nsi
dental, to any of the objects and purposes
hereinaboye set forth or contemplated by
this Charter.
ARTICLE IV-The capital stock of this
corporation is fixed at the sum OF One Hun
dred and Fifty Thousand (SlOOO.OO Dol.
lars, divided into fifteen hundred shares OF
the par value of One Hundred Dollars each
No transfer of stock shall be binding upon
the corporation unless made upon ITS DOCKS.
and all certificates of stock shall be signed
by such officers as may be designated by
the Board of Directors. This corporation
shall have the right to increase its capital
stock to the further sum of Two Hundred and
Fifty Thousand ($250,000OO dollars, to be
divided into shares Of one hundred dollars
each, provided said increase in the capital
stock shall have been authorized by the stock
holders at a meeting to be held pursuant to
the provisions of Article of this charter
ARTICLE V.-All the corporate powers of
the company shall be vested in, and the
management and control of its affairs shall
be exercised by Board OF Directors com
posed of three stockholders, the member
ship of which may be increased to num-
Der not exceeding five by the Board OF Di-
rectors at any of its regular meetings. A
majority of the directors shall constitute a
quorum for the transaction of all business.
The directors shall be elected annually by
bsllot on the second Monday in March in
each year Each stakeholder shall be en-
titled in person or by proxy, to vote for
every share owned by him, and all cleo.
regulations as may be determined by the
Board of Directors, after fifteen days no
tice by mail of such election shall have
been sent to each stakeholder at his last
known address. The directors thus elected
shall continue in office for one year, or until
their successors have been duly elected and
qualified. No failure to elect shall be re-
garded as forfeiture of this charter Any
vacancy occurring on said board shall be
filled by the remaining directors for the I'M
expired term; the said board shall likewise
elect the additional member in case they
should determine to increase the number Of
said board Said board shall, at its first
meeting after its election, nominate out of
and Secretary. Treasurer; il may divide
the functions of the last named officer and
may even elect secretary who need not be
director. Said Board Of Directors shall
have the right to appoint and dismiss such
Secretary. clerks, managers and other en-
ployees of the corporation as conditions may
Justify or the business of the corporation
may require. The tenure of office of all
the employees of the corporation shall be
during the pleasure Of the Board Of Directors.
the right to appoint, by written instrument.
another director or stakeholder to act as his
proxy and in his stead at any and all meet
ings of the Board of Directors.
ARTICLE VINO sale or other transfer
of shares of stock in this corporation shall
be valid until and unless the opportunity has
been first, afforded the shareholders Of rec
ord at the date Of such transfer, Gale or
other alienation to purchase such stbck at
book value plus ten per cent the value to
be ascertained in the manner herein sub
scribed. The right TO acquire said stock here.
by first vested in the other stockholders of
record shall follow the stock into any hands
to which it may pass and may be exercised
against the holders thereof within fifteen
DAYS from the time any sale or transfer
thereof has been offered to be entered on
the books Of the corporation. 1t shall be
the duty of any holder of stock in this cor
ooration who intends or desire to sell, trans
fer. ALLEVIATE or otherwise dispose Of the
same. to give fifteen days notice of such
intention or desire to the Board Of Direc-
tors of the corporation. Who are hereby con-