The herald., 1919-11-06
CHARTER

debtednoSS; to create debts; to make and
| use a corporate seal; TO purchase and re
celye lease, hold, sell, and convey as well
as mortgage and hypOthecatc. property.
| real, personal and mixed; TO name and ap-
| point such officers and agents as the in
| tereSt of said corporation may require: TO
| make and establish such bylaws and reg
ulationS for the proper management and
regulation of its affairs as may be deemed
necessary, and the same to change, alter
and amend at pleasure
! ARTICLE 1.-THE domicile of this cor
pordtion shall be in the City of New Or
! leans, State of Louisiana. and all cititation
| ana other legal process shall be served
/ upon the president of this corporation. or
| in case of his absence upon the vice-presi-
! dent, or, i'll case of the absence of both of
| These ofhcerS, upon the secretary thereof
| ARTICLE IU.-The objects and mr.
poses for which this corporation is estab-
! liShed and the nature of the business to be
! carried on by it are to buy. sell exchange
ana otherwise acquire or dispose of real
! estate; TO rent, lease, mortgage and build
dwelling houses, business property. apart
| ment houses. to acquire vacant land and
| develop and improve the same; TO deal in
subdivisions; to collect rents and gener-
ally TO do everything and act in cOnnec-
| ton with the holding, owning and leasing
of property. whether vacant or improved.
and generally to do any act or thing eS-
sential TO or usually done in connection
with general real estate business
ARTICLE IV.-The capital stock of this
corporation shall be Fifty thousand 60
OOOOO) dollars, divided into five hundred
! t5OO) shares of the par value of One hun
| dred (SlOOOO) dollars each, and may be in
creased to the sum of One hundred and
! fifty thousand (Sl50.00000) dollars, divided
| INTO fifteen hundred Q5OO) shares of the
| par value of One hundred (SlOOOW dollars
each, and this corporation is to he n going
! concern whom ho1 e thn l.
has been subscribed for. Each share of
the stock shall be entitled to one vote,
either in person or by proxy, at all gen
eral elections or meetings of stockholders
Should the capital stock of this corpora
ton ever be increased over the sum of
Fifty thousand (S50000O0) dollars then
such additional shares of stock that NAV
be issued shall first be offered to the hold
erS of stock at the time of issuance at the
book value of said new stock in the pro-
| portion in which the said stockholders
| shall at the time Of issuance hold stock in
this corporation.
ARTICLE V.-No stakeholder shall ever
| be held liable or responsible for the in
debtednesS, faults or defaults of this cor
poratlon, nor shall any mere infOrmality
in the organization of the corporation have
the effect of rendering the charter null or
of exposing the stockholders to any liza
bility beyond the unpaid balance, if any,
on his stock subscription.
Should any stakeholder desire to sell his
stock, he shall first offer the same to the
stockholders of the company at its book
value through its Obard of directors, and
the stockholders who desire to purchase
shall have the right to purchase the same
In proportion to their respective holdings
or stock in, the company. Should said
stockholders in fifteen days after notice
having been given, in writing, fail or re-
fuse to purchase the stock offered for sale
stock IN
No transfer of stock shall be made or
held to be valid and binding unless made
in pursuance of the provisions of this
charter.
ARTICLE VI.-This corporation shall
have all powers granted to such corpora
tions by law and shall have the power to
contract, sue and be sued in its corporate
name, and to own, hold, receive, loan
lease, purchase, sell and convey or mort
gage any and all Of it's effects, or to hy-
pothecate its property and to do any and
all acts and things of any other kind, ma
ture or description, as may be necessary
to carry out the objects and purposes of
said business as its interests and convent
ences may require.
ARTICLE VII.-The business of this
corporation shall be directed by and vested
in a board of directors consisting of three
members, two of whom shall constitute
quorum for the transaction of business
and the said directors as first constituted
shall be James T. BOulet, Frank Lobrano
and Frank Sullivan, and they shall hold
office until the fourth Monday in Septem-
Der, 1920, and on that day and on the same
day thereafter elections shall be held an
nually for directors at the principal Office
of the corporation. Failure to hold an
election on the day specified shall not dis
solve the corporation, but the directors in
office shall hold their respective Offices
until an election shall be held after thirty
m nj
given to each stakeholder. The annual
election shall be held on the fourth Mon
day in September, 1920, and thereafter on
the fourth Monday of September of each
succeeding year, and the election shall be
held between the hours of ten and twelve
a. m. All vacancies on the board of direc-
tors for whatever cause shall be filled by
the remaining directors.
James t. Boulet shall be the first presi-
dent, Frank Lobrano shall be the first vice
president, and Frank Sullivan shall be the
first secretary-treasurer, and they shall
hold office until the fourth Monday in
September, 1920, or until their successors
are elected, and each succeeding board of
directors shall elect it's principal officers
for the term of their election and only
stockholders shall be eligible for election
as member of the board of directors. Di-
rectors may act either in person or by
proxy.
ARTICLE VIII-Whenever this corpora
ton is dissolved, either by limitation or
for any other cause its affairs shall be
liquidated by the board Of directors, who
are hereby vested with full power to sell
any or all assets of the corporation, either
separately or in a mass, and to convey full
and compete title thereto, and shall have
full power to do and perform all acts nee
essary and proper to fully and completely
liquidate the affairs and distribute the pro-
ceeds, If any, among the stockholders Of
this corporation to the amount of stock
held by each.
ARTICLE IX.-This act Of incorporation
may be amended altered and modified or
this corporation dissolved in the manner
provided by law.
Thus Done and Passed, in my notarial
Office, in the City of New Orleans, State of
Louisiana, on the day, month and year
first herein above written, in the presence
of Azelie Bennett and r. f. Bell compe-
tent witnesses, who have hereunto signed
these presents, together with the parties
hereto and me, Notary, after a reading of
the whole.
Witnesses: Azelie Bennett, r. r. Bell.
Original Signed): James T. Boulet,
2721 Canal ST., New Orleans, La, 200
| shares; F. J. Lobrano, 1923 Nashville Ave.
New Orleans, La, $50 shares; Frank B.
Sullivan, 4137 Cleveland Ave, New Orleans,
La, $50 shares. A. A. MORENO,
Notary Public.
I, the undersigned Recorder of Mort
cages, in and for the Parish Of Orleans,
State Of Louisiana, do hereby certify that
the above and foregoing Act of Incorpora-
ton of the Lee Circle Realty Company, In