The herald., 1919-07-31
CHARTER.
CHARTER OF BUNcH's BEND CO. INC.

United Stats of America, State of Louis
| lana. Parish OF Orleans, City of New Or,
| leans Be it known, that on this the 2'rd
day of the month of June, IN the year OF
our Lord, One Thousand Nine Hundred and
Nineteen Q9l9, before me, Watts X. Lev,
erich, a Notary Public, duly COMM ssIoned
and qualified in and for the Parish of Or
leans State OF Louisiana, and in the pres
ence of the witnesses hereinafter named anc
undersigned personally came and appeared
the several persons whose names are hereuntt
subscribed. who severally declared that avail
ing themselves of the provisions OF the laws
of this State relating TO the organization OF
corporations, they have contracted and
agreed. and do by these presents contraci
and agree and bind and oblige themselves
associated with them, TO form themselves into
and to institute a corporation body politlC
in law, with the objects and purposes and
under the conditions and stipuations OF
the following articles, to-wit:
ARTICLE 1.-The name of this corporation
shall be Bunchs Bend Co., Inc, and under
its corporate name 1t shan enjoy success sion
for the period of ninety nine years from date
hereof, unless sooner dissolved by hquida-
ton otherwise, and shall have power and
authority TO contract, to sue and be sued,
to make mortgages, hypothecations and
pledges, to make and use corporate seal and
to alter and break same at pleasure; to
hold, receive, lease, purchase, sell, transfer,
assign, mortgage, hypothecate, pledge, or
otherwise receive, use dispose of proper
ty, real personal or mixed Corporeal and
Incorporate; to issue bonds and to secure
same by mortgage or pledge; to buy and hold
or dispose of stock in other companies; II
create and accept mortgages pledges or other
hypOthecations; to elect and appoint such
taaragers, directors or officers as IT may
require; to make and establish, alter and
amend rules, bylaws and regulations for
its proper government.
ARTICLE 1.-THE domicile of this cor
porati)n stall be in the City of New Or
leans, Parish of Orleans and State of Louis
lana, and citation and other legal process
shall be served upon the President of the
corporation or, in the event of his absence,
shall be served upon the Vice-President OF
sence Of both the President and the Vice
President shall be served upon the Treas
urer of the corporation.
ARTICLE III.-The objects and purposes
for which this corporation is created and or
ganized and the nature OF the business to
be carried on by il are declared to be as
follows: To engage in buying, or otherwise
acquiring and selling, or otherwise alienat
ing, real estate; and to acquire by purchase
or otherwise, to hold, lease, sell, improve,
mortgage or cultivate or deal in real estate,
lands and their improvements and properties
located thereon and incident thereto con-
nected Herewith; to reclaim and improve
lands; to carry on general planting busI-
ness to do any and all things necessary or
incidental to the raising, cultivating and
gathering of cotton, corn, and any other crops
or products of the soil, and to market and dis.
pose of the same; to construct, maintain and
operate dwellings, barns, cotton gins and
presses,a and other buildings, works and i'm
provements; to raise live stock and to deal
in same; to own and conduct stores; to lay
out suburbs of additions to towns; to es-
tablish and dedicate squares, streets, alleys
and canals for navigation or drainage; to
construct and operate drainage plants; to
construct or have constructed, buildings of
all kinds, docks, wharves, canals and pump
ing plants; to establish industrial and manu-
featuring sites, or to lease its property or
any part thereof for such purposes; to ex-
change its capital stock, or any part thereof
for property; to issue bonds and to give
mortgages and pledges in such manner and
form as it may determine; to acquire and
hold or dispose of stock in other corporations;
and generally to do any and all things neces-
sary and proper. incidental or pertinent to
the powers herein set forth and to the bust
ness hereby authorized.
ARTICLE IV.-The corporate stock of this
corporation is hereby fixed at the sum of
One Hundred and Fifty Thousand Dollars
(S150,0O0O0), divided into and represented by
Fifteen Hundred $500 shares of par value
of One Hundred Dollars $4,000 each. The
issued for cash actually received, or for
money or property or for services rendered.
ARTICLE V.-This corporation shall He-
come a going concern and shall be author
lied to commence business as soon as Sew
enty-five Thousand Dollars (S5,0OOOO of its
capital stock shall have been paid for, either
in cash or its equivalent, provided by law.
The stock of this corporation; or any part
thereof, may be delivered to any person, firm,
association of persons, or corporation, in
return for the acquisition by the Company
of any property owned or controlled by such
person, firm, association or persons or cor
poration; or in payment of other properties
or for services rendered.
The capital stock of this corporation may
be increased to the sum of Five Hundred
thousand Dollars $500 10000 by a vote of
two-thirds C2/0 of all the stock outstanding
at special meeting called for that purpose,
or at regular meeting of the corporation.
All certificates of stock issued by this Com
pany shall be signed by the President, or
by Vice-President of the Company, and
countersigned by the Secretary or Treasurer
of the Company. The stock of this corpora
ton can be transferred only on the book
of the corporation and subject to such rules
and regulations as may be made by the board
of directors or from time to time be pre-
scribed.
No stakeholder shall have right to trans
fer convey any of his or her stock in the
corporation, unless and until he or she shall
have first made written offer to the other
then stockholders of the corporation, and to
to them. at the same price as that at which
he or she may have received a bona fide
offer therefor. Such written offer shall be
addressed to the other then stockholders,
and TO the corporation itself, collectively
and shall be delivered to the office of the
corporation not less than ten (l0) days prior
to the application for transfer of the stock
The corporation shall transmit this offer to
the respective then stockholders, and the
stock of the stakeholder desiring to sell shall
be distributed pro rata among such of the
other stockholders as, desire to purchase in
the proportions in which the holdings of the
stockholders desirous of purchasing bear to
each other; provided, that the other stock
holders desiring to sell shall not be re-
CURED to take all of the stock of the stock.
holders desiring to sell, but shall have the
option to take any part of it, at the price
at which bona fide offer may have been
received by the stakeholder desiring to sell,
for the whole amount offered; and il the to.
tai which the other stockholders desire to
purchase is less than the total offered for
sale, then, after each of the other stockhold-
ers shall have taken and paid for the amount
the remainder undertaken shall be open for
purchase by the corporation itself; and I'M
less prohibited by law, the corporation may
itself use and apply its surplus earnings or
accumulated profits to the purchase, from
any stakeholder desiring to sell, of any por-
ton of that stockholders stock which none
Of the other stockholders may desire to ac-
lure, at the same price as said stock shall
have been offered to the other stockholders;
provided that the corporation shall not APP
ply any of its capital to the purchase of such |
stock, but shall always maintain its capital
unimpaired and invested in other property |
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