The herald., 1920-04-01
CHARTER
1889

proppr or useful for the accomplishment
of the purposes of the corporation. Inc
whole in the State of Louisiana. the states
territories and possessions OF the hted
States and in foreign States and terri.
tories, with the right to have offices ana
places of business and representatives IN
any or all of the same. a chanse Oh the
objects and purposes of this corporation
NAV be made by the vote of all the stock
holders at meeting called for that pur-
pose.
ARTICLE IV.-The capital stock of this
corporation shall be ten thousand lsio
(4OW shares of the par value OF twenty
i've (S25.OOl dollars each; which SAID STOCK
shall be paid for in cash or property. Inc
capital stock may he increased 10 r rwenS ~
two thirds of all of its stock at a meet
ing of the stockholders called for thar
purpose.
IN No stock shall be sold trans
ferred until an opportunity Is Ilrs. "
forded all other stockholders of record to
purchase said shares of stock AT book
value as shown by the inventory preceding
such notice: written notice shall be given
nv the owner to the Board of Directors
for the use and benefit of such other
stockholders: it shall be transmitted
without delay by the Board to them ana
must be accepted within thirty days from
receipt of the Boards notice and pald tOr
i'm cn sh within ninety days from such no
tice The stockholders shall have the right
TO buy said shares in proportion to their
holdings and any shares not taken IN pro-
norton may he taKen by the other share
holders Failure of the stockholders TO
buy shall by the mere expiration OF the
time limit release the stockholders from
the effect of this provision.
(2l Whenever any StOckholder whose
holdings together with those of his sur
viving wife or children. If any. ShaII hE-
CreUatp twenty per cent or more OF the
capital stock of this corporation. Shall
die his successors, heirs or legal repre-
sentatiypS will have the right to tender
the whole of the stock of this corporation
owned by said deCedent and his surviving
wife or children, if any, to be purchased
by the surviving stockholders ut the price
! set out in the first paragraph hereof II
| shall he the duty of the Board OF directors
| To submit the said offer 20 the stock
| holders and il within the time hereinahovt
i prescribed the offer shall not be accepted
! and the stock purchased. then the Sal'
| Successors heirs or legal representatives
| shall have the right to demand tlrr diSSO
| luton and iqui6atiOn of the corporation
! and in default to apply to any court %
competent jurisdiction for dissolution o
| this corporation and the liquidation of th'
| same. any law to the contrary notwlth
| standing saving always. however tn'
| right to the said corporation in answer u
| said proceedings. to dissolve ana Iquldat'
! in the manner prescribed by law OF Lou
| isiana.
| C3) No stock shall be held in this cor
| poration by employees, who are not on
| fers. except such as has been subscribed
| for in this charter or which may be trans
ferred with the consent of the Board o
| Directors to such employee ut the tim
| of or during employment. whenever sue
employment ceases through death, resigna
ton. dismissal or otherwise. the Board o