The herald. [volume] (New Orleans, La.) 1905-1953, 1920-01-01
CHARTERS.

| and immunitleS which corporations nave
| and may hereafter be authorized TO have
| and possess under the Constitution and
| Laws of this State, and particularly under
| Act 267 of the acts Of the General AS
| sembly of the State of Louisiana, for the
year 1914, and the amendments thereto.
ARTICLE 1.-THE domicile of this
CORPORATION shall be the City of New Or
leans, Parish of Orleans, State of Louis
lana. and all citations and other legal
! process shall be served upon the nrst
| Vice President of this corporation, or IN
case of his absence, upon the second wee.
| President, or in the absence OF both or
| these officers, upon the Treasurer OF TINS
corporation.
| ARTICLE In.-The objects and pur-
poses for which. this corporation is formed,
and the nature of the business to be ear
ripd on by il, are hereby declared TO be
to engage in the business of acting as
agent and broker in effecting fire. life,
accident, marine and all other kinds OF
insurance for any and all insurance com
! panies in the transaction OF the lnSur-
ance business in all its branches, ana
| generally to perform all things connected
| with the insurance agency business, ana
| 10 act as agents for warehOuslng com
| panies, and to perform all Things per
tanning to said business and to carry on
any other business which, under the law,
il may be entitled to carry on which may
| seem TO the corporation TO be calculated,
| directly or indirectly, to effectuate the
|
| facilitate il in the transaction OF its
| aforesaid business or businesses or any
part thereof, or in the transaction OF any
! other lawful business that may be cal
culated directly or Indirectly to enhance
| the value of, or to render prOttably any
| of the companies properties and rights, and
| generally to hold and exercise all such
| Incidental powers and privileges, and do
and perform all things as relate to the
| objects and purposes hereinabOve set
| forth, or as may be needful, necessary
| proper, useful or convenient for effect
ing said objects and purposes.
ARTICLE Iy.-The authorized capital
| stock of this corporation is hereby fixed
| and declared TO be the sum of seventeen
| thousand five hundred dollars (Sli,5OOOO),
| divided into one hundred and seventy five
| 115D shares of one hundred dollars
| (SIOO.OO) each, which has been subscribed
| for at the time of the signing of the
| original charter of this corporation.
"Tbe capital stock shall be represented
by certificates, and shall be personal prop
| erty No transfer of said capital stock
| shall be binding upon this corporation
unless made in accordance with its charter
| and bylaws and recorded on the books
| thereof.
ARTICLE y.-No stakeholder, or his
| legal representative, shall be allowed 10
| sell exchange. grant. give, ALLEVIATE, dis
pose of. convey, devise or bequeSt ms
| stock until he first offers in writing
| through the Secretary of this corporation,
| to sell the same to the remaining STOCK
| holders at its actual book value, and the
| remaining stockholders in proportion TO
| their then holding shall have the right
| within ten 1O) days to decide whether
| they shall purchase same or not, ana SAID
| other stockholders desiring to purchase
| all or part of the offered stock under this
| article must in due time give written
notice of such desire to the Secretary OF
| this corporation.
For the purposes of this article, the
| actual book value shall be determined by
| the figures as of the closing of the books
| at the nearest earlier date. The purchase
| shall be for cash, and if not purchased
| then by them, the stock may be sold or
| otherwise disposed of to any other person
| or persons. Any stockholder OF TINS cor
| poration may devise or bequest stock in
| this corporation to any other stakeholder
| in this corporation: but is expressly pro-
| hibited from devising or requesting stock
| already stakeholder in this corporation.
No sale or transfer of stock of a deceased
| person can he made except as abon'
| stated save to the stockholders, and this
Article shall be printed on each and
every share of stock.
mo sale or other transfer or assignment
| or bequest or devise of stock in this cor
| poration shall be valid until and unless
opportunity to purchase such stock has
first been given in the manner hereinabOve
provided.
ARTICLE yI.-Al the corporate pow
ers of this corporation shall be vested
in and exercised by a Board of Directors,
which shall all consist Of the stockhold-
ers of the corporation. Each Director
shall be entitled to one ~ vote for each
share of stock standing in his name on
the books of this corporation, TO be cast
in person or by proxy, and three hfths
of the votes east shall govern.
.The Board of Directors shall at each
first annual meeting elect from their num-
Der a President, a First Vice-President, a
Second Vice-President, a Secretary and a
Treasurer and such other officers as the
Board of Directors may select, and shall
from time to time as they see fit, appoint
or employ any such other employees as
they shall deem necessary. The Board OF
Directors shall have power to fix the sal
aries of all officers, and of all such other
employees, as they deem necessary. The
Board of Directors shall have power 10
make and establish, as well as alter and
amend. all bylaws, rules and regulations
necessary and proper for the conduct and
management of the business and affairs
of this corporation not inconsistent with
its charter, said Board shall also have full
power and authority to borrow money
through the President or some other duly
authorized person or persons. to execute
mortgages. issue notes. bonds or other
obligations in such amounts and on such
terms as in their judgment may be ad-
| NHntaSpOuS anu RtHtTdhy " w al
things reasonably necessary for the prop
or carrying on of the business of this cor
pOration. and shall have power to do all
such acts and things as may be neces-
sary to carry out the objects and pur-
poses for which this corporation is organ
lied.
| Directors holding or representing three
fifths of the stock of this corporation shall
constitute a quorum for the transaction
Of business. At any meeting of the Board,
any Director absent from the meeting may
| be represented by proxy. The Board of
Directors shall have the power to sell.
lend mortgage or pledge any and all the
property. movable or immovable, belong
ing to this corporation, and to receive in
consideration thereof money. or stock, or
| bonds, or other obligation of another cor
poration, and also to purchase for cash
or on credit property of any kind re-
Quired for any of the purposes of this
corporation.
ARTICLE VII.-This charter may be
amended, modified or altered, or this cor
poration may be dissolved and its affairs
liquidated in the method and manner pro-
vided by law as now or hereafter in force
| at any time by the vote of three-fifths of
the stockholders in general meeting con-
vened and called for that purpose by the
Board Of Directors, after ten C0) days
notice in writing has been given to each
stakeholder in the manner provided in
this charter; and whenever this corpora
ton shall be dissolved by limitation, or
otherwise, it's affairs shall be liquidated
by the Board Of Directors then in office
ARTICLE vIII.-No stockholder of this