The herald., 1919-07-17
CHARTERS
CHARTER OF THE LAF0URCHE LAND
COMPANY, INCORPORATED.

| CHARTER OF IhE LAroONShE SnNA
COMPANY, INCORPORATED.
United States OF America, State OF LOUIS
| lana, Parish of Orleans, City OF New Or
| leans Be it known, that on this l9th da!
of the month of June, in the year OF on
| Lord one thousand nine hundred and nine
| teen, and of the Independence OF the Onlte'
| States of America the one hundred and forty
third: before me, Arthur A Moreno, a No
tary Public, duly commissioned and quali
| fed in and for this City and the farisi
| Of Orleans, therein residing, and IN I'M
presence of the hereinafter named and un
dersigned witnesses, personally came and ap
peared the following persons whose name!
are hereunto subscribed, together win I'M
amounts of their respective SUBSCRIPTIONS U
the capital stock OF rhe corporation to bs
formed, who severally declare that, awaiting
themselves of the provisions OF the genera
laws of the State OF Louisiana relative tC
the organization of corporations, they have
covenanted and agreed, and do by these
presents covenant and agree, and bind ano
obligate themselves, as well as such othel
persons as may hereafter become associated
with them or their successors, to form and
constitute themselves into corporation and
body polite in law, and for the objects and
purposes and under the agreements and
stipulations following, to-wit:
ARTICLE 1.-The name and title OF this
corporation shall be the Lafourche Land Com.
pany, incorporated, and by that name SAID
corporation shall have power and authority
to have and enjoy succession for the full
term of ninety nine years from the date
hereof; TO contract, sue and be sued; 10 Dor
row money; to make and issue ITS nego'
table promIssory notes or other evidences
of ndebte dness; TO create debts; to make
and use a corporate seal; to purchase and
receive, lease, hold, sell and convey, as well
as mortgage and hypothecate, property, real,
personal and mixed; to name and appoint
such officers and agents as the interest OF
said corporation may require; and to make
and establish such bylaws and regulations
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 IL. The domicile OF this cor
poraton shall be in the City of New Or
leans, State of Louisiana, and all citation
and other legal process shall be served upon
the president of this corporation, or IN case
of his absence upon the vice president, or,
in case of the absence Of both of these OF
fcers, upon the secretary thereof.
ARTICLE III.-The objects and purposes
for which this corporation is established, and
the nature of the business to be carried on
by it is the purchase and sale of land, its
development, the cultivation of land, either
owned leased, the raising OF CATTLE, hogs
and other animals having marketable
value, the sale of timber and other products
Der, cross ties or other marketable products.
ARTICLE IN.-The capital stock of this
corporation shall be S40,0O0U, divided into
4OO shares of the par value OF SlO0U each
and may be increased to the sum OF SlOO,-
10000, divided into 900 shares of the par
value of $1,000 each, and this corporation is
to be going concern when one-half OF the
capital stock has been subscribed for Each
share of the stock shall be entitled to one
vote, either in person or by proxy. at all
general elections meetings Of stockholders.
Should the capital stock of this corporation
ever be increased over the sum of S40,0O000
then such additional shares OF stock that
may be issued shall first be offered to the
holders of stock at the time of issuance at
the book value OF said new stock in the
proportion 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 for the in
debtedness, faults or defaults of this cor
poration 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 liability
beyond the unpaid balance, if any, on his
stock subscription. Should any stockholder
desire to sell his stock, he shall first offer
the same to the stockholders of the COM
pany at its book value through its Board OF
Directors and the stockholders who desire
to purchase shall have the right to purchase
the same in the proportion to their holdings
of stock in the company. Should said stock
holders in fifteen days after notice having
been given, in writing, fail or refuse to
purchase the stock offered for sale, such
stock may be sold to any one. 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 W.-This corporation shall have
all powers granted to such corporations 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 mortgage any and all OF
its effects, or to hypothecate its property
and to do any and all acts and things of
any other kind, nature or descri ption, as may
be necessary to carry out the objects and
purposes of said business as its interests
and conveniences may require.
ARTICLE VII.-The business of this cor
poration shall be directed by and vested in
a board of directors of three members, two
of whom shall constitute a quorum for the
transaction of business, and the said direc
Breton, Adolph DeBreton, and A. V. Allan
and they shall hold office until the first
Monday in May, 1920, and on that day and
on the same day thereafter elections shall
be held annually for directors at the prin-
cipal office of the corporation. Failure to
hold an election on the day specified shall
not dissolve the corporation, but the direc-
tors in office shall hold their respective
offices until an election shall be held after
thirty days notice of the time and place
thereof given to each stakeholder. The an
lual election shall be held on the first Mon
lay in May, 1920, and thereafter on the |
rst Monday of May of each succeeding
rear, and the election shall be held between |
he hours of ten and twelve a. m. All vacan- |
lies on the board of directors for whatever |
ause shall be filled by the remaining di- |
ectors. A. v. Allan shall be the first presi.
lent, Albert LeBreton shall be the first
Tice- president and Adolph LeBreton shall be /
he first secretary-treasurer and they shall |
old office until the first Monday in May,
oO or until their successors are elected,
nd each succeeding board of directors shall |
lect its principal officers for the term of |
heir election and only stockholders shall |
e eligible for election as a member of the
oard sof directors. Directors may act either
n person or by proxy.
ARTICLE VIu.-Whenever this corpora
ion is dissolved, either by limitation or for
ny other cause, its affairs shall be liqui-
ated by the board of directors, who are
ereby vested with full power to sell any
r all assets of the corporation, either sepa.
ately or in a mass, and to convey full and
over to do and perform all acts necessary
nd proper to fully and completely liquidate
he affairs and distribute the proceeds, if
ny, among the stockholders of this corpora
ion to the amour of stock held by each.
ARTICLE TX This act of incorporation
hay be amended, altered and modified or
his corporation dis ,olved in the manner pro-
ided by law.
Thus done and passed, in by notarial Of
ice, in the City of New Orleans, State of
.ouisiana, on the day, month and year first