The herald. [volume] (New Orleans, La.) 1905-1953, 1920-02-26
CHARTER.


air, gasoline and any other thing useful
for or used as motive power for vehicles |;
to buy, sell and deal in all kinds Of COM
mercial papers, mortgages, notes, stocks
and bonds, and to mortgage and hypo-
thecate automobiles, trucks and tractors Of
every descriptions. with full power to Dor
row or lend money secured by mortgage
or otherwise. To do all and every thing
necessary, convenient or proper for the
accomplishment Of the purposes herein
stated, whether within or without the
State Of Louisiana.
ARTICLE Iv.-The authorized capital
stock of this corporation is hereby fixed
$50 ,O00.O0), divided into and represented
by Two Hundred shares Of stock of the
par value Of One Hundred Dollars (Sl0000)
each. The capital stock shall be repre-
sented by certificates, shall be fully paid
and non assessable when issued, shall be
issued only for labor done or for property
actually received, or for cash to be paid
at such times and In such amounts and
after such notice as may be determined
by the Board of Directors and shall be
personal property. No transfer of said
stock shall be binding upon this corpora
ton unless made in accordance with it's
charter and bylaws and recorded on the
books thereof. The subscriptions to this
charter, however, shall be paid for in
cash.
ARTICLE VAN the corporate powers
Of this corporation shall be vested in and
exercised by Board Of Directors to be
composed Of three stockholders. The
first Board Of Directors shall be composed
of: Frank S. Einstein, as President !;
William j. McLaney, as Vice President,
and Victor Adams, as Secretary Treas
urer; annually at the domicile Of the
corporation on the second Tuesday Of
January of each year, the stockholders
shall elect from among their number three
Directors who shall elect from among
themselves President Vice President
and Secretary Treasurer provided that the
first Board of Directors above named
shall hold their office until the second
Tuesday Of January; 1921, and until
their successors have been elected and
shall have qualified Two Directors shall
the business of this corporation. All such
elections shall be held by ballot and con-
Quoted at the office of the corporation
under the regulations as may be estab-
lished by the Directors. Notice of such
lection shall be given by the Secretary
Treasurer by written notice delivered per
Sonally to the stockholders or by deposit
ing the same in the Post Office. address
ID to each stakeholder at least ten days
,efore such election. Stockholders shall
have the right Of cumulative voting. Any
acancy occurring among the Directors by
ieath, resignation or otherwise shall be
illed by the remaining Directors. The
iOard of Directors may make and estab-
fish, as well as alter and amend, any and
Ill bylaws, rules and regulations neces-
airy and proper in its judgment for the
'onduct, support and management of the
BUSINESS and affairs of said corporation.
rhe Board of Directors shall have power
nd authority to borrow money and to
i've security therefor and generally to do
u things necessary and convenient for
re proper carving on Of the business
Of the corporation. 1t may authorize
the issuance of stock for cash actually re-
ceived by the corporation.
ARTICLE vI.-Regardless of who may
then be the stockholders of this corpora
ton, the subscribers to this charter, or
such number thereof, as may wish to
avail themselves of the provisions of this
Article, are, in consideration of their sub
scriptions to this charter hereby granted
the irrevocable right and option to sub
scribe at par and accrued dividends, If
any, to any unsubscribed stock and to
any increased stock which nav subsequent
be authorized, in the proportion to which
the subscription of each Of the subscrib.
ers to this charter presently bears to the
other two. This irrevocable right and
option is hereby granted up to and includ
ing December 31st, 1921.
ARTICLE vII.-This charter may be
amended and the capital stock Of this
or this corporation may be dissolved and
its affairs liquidated in the method and
manner provided by law, as now, or
may hereafter be, in force.
ARTICLE VIII.-No stakeholder of this
corporation shall ever be held liable or
responsible for the contracts or faults Of
this corporation in any further sum than
the unpaid balance on the stock for which
he has subscribed nor shall any mere
informality in organization nave the eff
feet of rendering this charter null or of
exposing a stakeholder to any liability
other than as above provided.
ARTICLE IX.-The subscribers hereto
have respectively written opposite their
names their post office addresses and the
amount of the capital stock in this cor
poration subscribed for by each Of them,
so that this act of Incorporation may also
serve as the original subscription list of
this corporation.
Thus done and passed. in my office, at
the City of New Orleans, on the day and
date first above written, in the presence
of J. Arthur Charbonnet and Leo j.
vivien, competent witnesses. who sign
with the said appearers and me, notary.
after due reading of the whole.
Witnesses J. Arthur Charbonnet, Leo
J. Vivien.
Original signed) Frank s. Einstein.
shares; william J. Mcuaney. 2513 Banks,
St., New Orleans, La, "a shares; Victor
Adams, 230 s. Dupre St., New Orleans.
F. d. CHARBoNNET,
Notary Public.
I, the undersigned, Recorder of Mort
cages in and for the Parish Of Orleans,
State Of Louisiana, do hereby certify that
the above and foregoing act OF incorpora-
ton of the "Nola Motor Company, Inc"
was this day duly recorded in my office
in book 1898. at folio.
New Orleans, January 9th. 1920.
(Signed) EMILE J. LEONARD,
Deputy Recorder of Mortgages.
f. d. CHARBONNET.
Nofary Public