The herald., 1919-08-07


CHARTER OF THE LAFoURcHE LAND
COMPANY, INCORPORATED.
United States of America, State of Louis
lana, Parish Of Orleans, City of New Or
leans. Be it known, that on this 10Th day
of the month of June, in the year of our
Lord one thousand nine hundred and nine.
teen, and OF the Independence OF the United
States of America the one hundred and forty
third; before me, Arthur A. Moreno, No
tary Public, duly commissioned and quail
fled, in and for this City and the Parish
Of Orleans, therein residing, and in the
presence of the hereinafter named and un-
dersigned witnesses, personally came and ap-
peared the following persons whose names
are hereunto subscribed, together with the
amounts of their respective subscriptions to
the capital stock of the corporation to be
formed, who severally declare that, availing
themselves of the provisions OF the general
laws of the State of Louisiana relative to
the organization of corporations, they have
covenanted and agreed, and do by these
presents covenant and agree, and bind and
obligate themselves, as well as such other
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
pany, incorporated, and by that name said
corporation shall have power and authority
to have and enjoy succession tor the full
term OF ninety nine years from the dat:
hereof; to contract, and be sued; to Dor
row money; to make and issue its nego-
table promissory notes other evidences
of Indebtedness; to create debts; to make
and use a corporate seal; to purchase and
receive lease, hold, sell and convey, well
as mortgage and hypothecate, property, real,
personal and Mixed; TO name and appoint
such officers and agents 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 H. The domicle of this cor
poration 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
ficers, 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 a marketable
value, the sale of timber and other products
of the soil and their manufacture into lum-
Der, cross-ties or other marketable products.
ARTICLE IV.-The capital stock of this
corporation shall be 100000, divided into
400 shares of the par value of $1,000 each
and may be increased to the sum OF $780,
10000, divided into 1000 shares of the par
value of $4,000 each, and this corporation is
to be going concern when one-halt 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 or meetings OF stockholders
Should the capital stock of this corporation
ever be increased over the sum of 100000,
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 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 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 stakeholder
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 VI.-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 description, 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
board of directors of three members, two
of whom shall constitute a quorum for the
transaction of business, and the said direc-
tors first constitute shall be Albert Lee
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 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
nual election shall be held on the first Mon
day in May, 1920 and thereafter the
first Monday of May Of each succeeding
year, and the election shall be held between
the hours of ten and twelve a. m. All vacan-
cies on the board of directors for whatever
cause shall be filled by the remaining di-
rectors. A. V. Allan shall be the first presi-
dent Albert I.eBrcton shall be the first
vice president and Adolph LeBreton shall be
the first secretary-treasurer and they shall
hold office until the first Monday in May,
1920 or until their successors are elected,
and each succeeding board Of directors shall
elect its principal officers for the term of
their election and only stockholders shall
be eligible for election as a member of the
board of directors. Directors 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 liqui-
dated by the board of directors, who are
hereby vested with full power to sell any
or all assets of the corporation, either sepa.
rately or in a mass, and to convey full and
complete title thereto, and shall have full
power to do and perform all acts necessary
and proper to fully and completely liquidate
the affairs and distribute the proceeds, If
any, among the stockholders of this corpora
ton to the amount of stock held by each.
ARTICLE IX.- This act of incorporation
may be amended, altered and modified or
tins corporation dissolved in the manner pro-