The herald. [volume] (New Orleans, La.) 1905-1953, 1920-07-08
CHARTER OF TULANE OIL LAND AND
INPRON EME>T COMPANY. INC.

! day of the month of May. in the year Of |
our Lord. one thousand nine hundred and
| twenty. and of the Independence of the !
| United States Of America, the one hun |
| drcd and forty fourth. before me. Edward !
! Alexander Parsons. n notary public. i'm ,
and for TIA" parish Of Orleans, state IL
! Louisiana. duly commissioned and quail
| fled, and i'll the presence of the witnesses
hereinafter named and undersigned. per
| >onally cam" and appeared the persons
whose names are hrreunto subscribed and
who declared that ayailiug themselves of
the provisions of the general laws of the
stat" Of Louisiana. relative to the organ
| iZatiun of corporations, they have cove
uantrd aud agreed. and do by these pres
"ut>. covenant and agree and bind. form
and constitute themselves. as well as such
other persons a. may hereafter join or be
com" associated with them. into an as
>ociation and body polite in law for the
objects and purposes and under the agree
m"ntS and StipulatiouS hereinafter set
forth:
ARTICLE The name. style and titlr
| of this corporation shall be: Tulane oil
Land and Improvement Company. Inc"
and under that name it shall have and
enjoy all the rights. privileges. adYan-
ta=rS. power and authority. conferred 10y
I the constitution and laws of the state of
Louisiana upon corporations. II shall eN-
ist for a period of ninety nine years un-
} less otherwise dissolved.
II shall have the power aud authority
in its corporate name. TO contract. to sue
and be sued: to make and use 4 corporate
seal the same to break. alter or amend
| at pleasure; to buy and sell to hold, own
lease. mortgage. hypOthcCate and pledge
property real. personal and mixed. neces-
Sary, incidental to or proper for the car
rying on of its business. and to name
elect and appoint managers, directors and
clerks or other employees to properly con
duet its corporate business and to make
such bylaws. rules and regulations, as
may he found necessary or desirable for
the management of this corporation. and
generally to do every other act, matter or
thing, necessary for the complete and
proper carrying on of said business.
ARTICLE 1.-THE domicile of this cor
pOration is hereby declared to be in the
city of New Orleans, state of Louisiana.
All citation aud other legal process shall
he served upOn the president. and in the
absence of the president, upon the vice
, president, and in the absence of both Of
them, upon the secretary treasurer of the
corporation.
; ARTICLE HI.-The objects and pur-
poses for which this corporation is or
ganized. and the nature of the business to
! u" carried on by 1t are hereby declared
to bee:
, To acquire. own, buy lease. sell mort
= gage, hypOthecate and pledge property.
real personal and mixed. ana particular
:. | ly TO develop mineral, oil and gas lands
f IN the state of Louisiana, other states of
- the United States of America. and for
eiSn countries, and generally to do and
engage III any business. enterprise or un-
dertaking connected with, growing out of.
incidental or germane 20 any of the Oh
JectS and purposes set forth in or con
templated by this charter.
ARTICLE lN.-The capital stock of this
corporation is fixed at the sum of twenty
i've thousand (S25,OOO.O0b dollars. divided
into two hundred fifty shares of 500 IN
>' each. Said stock shall he represented by
y certificates of stock, sirnec by the presi-
drht ana the secretary treasurer, and in
a the absence or inability to act of the
ID president. by the vice-president Said
stock shall he issued at such times and in
Snch amounts. for such price and upor
such terms and conditions as the board
W OF directors may see fit and proper and
" shall be paid for in cash or its eouiya.
tent IN property, as the board of direc.
Tors may decide. All shares shall be full
=, l'ald ana -asSessable. Said stock shall
~ be transferable only on the books of tn,
II company, and on the surrender or DIN,
" proof of loss of the original certificate
= No stakeholder shall have the right e
sell or otherwise dispose of his stock IL
, this corporation without first offerin.
same TO the corporation at the book yaIu
alton thereof, as determined by the book
OF inns company. and this corporation /,
authorized TO purchase said stock at sait
: book valuation for the benefit of the othel
T. stockholders of the corporation
The capital stock may be fncrea sed Z,
- lars.
=, ARTICLE V.-This corporation shall be
sln business and be going concern a
II, soon as one half of its capital stock shall
u, have been subscribed and as soon as on,
w. half the amount of said subscription ba,
ne been paid for.
III ARTICLE NI.-All the corporate DOW
of erS or this corporation shall be veste,
is In ana the management and control Of it
@ business and affairs conducted by a boar,
OF directors, composed of seven stock
lie holderS. -FOUR of whom shall constitute /.
Ir quorum no member of said board to owl
:; or subscribe for less than ono share n
:, stock. Said directors shall he elected Il,
90 DaIlot At general meeting of the stock
holders on the second Monday of NAV
or iS-l' ana annually thereafter on that day
Every stakeholder shall be entitled in ner
ha son or by proxy to one vote for ever
nf snare or stock owned by him. All cleo
M lions shall be held under such rules an
~ regulations as may be determined by sal
u board of directors Ten DAYS written nc
tice. directed to the last known address q
W every stakeholder shall be given of a
nd elections
y, ~ The directors thus elected shall con
20 tinue in office until the second MOnda
az OF May, l922. or until their successor
~ shall have been elected and qualified: an
failure to elect officers or directors sha
IL not be considered as a forfeiture of thi
us charter Any vacancy occurring in III
us board Of directors shall be filled by tn
he | remaining directors for the unexpire
nd term. \ majority of the stockholders at
he meeting shall constitute a quorum for III
RS transaction of any business.
IN Said board of directors shall at its fir,
- meeting after its election. elect out of II
- own members a president. n vice pres
on dent and secretary treasurer; and sal
- board shall have the power in its discr,
IN uOn to unite two more officers, II
a. same TO confer upon one person. Sal
ny board shall have the power to appoint an
~, dismiss such officers. agents. clerks an
- employees as they may deem advisab
ne and to fix their compensation.
lie. Said board of directors is special
~ vested with the power and authority
To- mortgage or pledge the property. rea
=, personal and mixed of the corporation
:, - they may deem fit and proper: to pu
~, ~ chase. hold, own. mortgage, pledge. lea,
an' and dispose of real estate. improved an
unimproved. city or country; to execu
mortgages. issue notes. bonds and 9th.
his evidence of debt, and to borrow and len
cir money on same to and from individual