The herald., 1920-06-17
CHARTER.

holder of Common Stock OF the desire OF
the member aforesaid to sell said stock
ARTICLE V.-The capital stock of this
CORPORATION shall he Ten Thousand dol
lars (S1OOOO.OOD divided into Sixty 600
shares of Common Stock or the par
value of one Hundred Dollars per share
and Forty Shares of Pre-rrrcd Stock oil
the par value of one hundred dollars
per share, which said Preferred Stock
shall be non-votng and participating
stock, which shall bear eight per cent In
tercst payable annually, anG the holders
thereof shall he preferred in the payment
of dividends of any net profits or earned
surplus over Common Stockholders, and
said Preferred Stock shall be subject Ia
redemption in whole or in part at any
interest paying period without previous
notice: stock may be issued in exchange
for property, good will. services or for
the stock of other corporations.
Fifty per cent. of the capital stock of
this corporation must be actually sub
Srribed before the filing of articles of in
corporation. and fifty per cent. of the
said amount 80 subscribed shall be ac-
tually paid in before the corporation en-
Cages in business. aud the remainder
within twelve months thereafter. The
capital stock may be Increased TO one
Hundred Thousand Dollars 10y a two
thirds vote of all Common stock.
ARTICLE Vino stocsnoIdcr shall ever
become or he held liable for the contracts.
faults or debts of said corporation in amy
further sum than the unpaid balance due
and owing on stock subscribed 10y him.
or purchased by him. nor shall any mere
informality in organization have the eff
feet of rendering this charter null. or
of exposing any stakeholder to liability
other than as hcrciHabOyc provided i'll this
article.
ARTICLE VII-Tht< corporation may. at
"a inc al Nftsh lnlfftrS luiN called for
the purpose, by yO'" of twO-thirdS Of
all OF its stock. amend its articles of in
corporation in any manner ConfOrmable to
law. \ change in objects ana purposes
may be- voted by all stock issued, and an
Increase in tn" capital stock beyond the
sum of 500 geo may be mace by three
iUurth~ vote of all stock outstanding. This
corporation may be dissolved in the follow
ing manner: Whenever in the Judgment Of
the board Of directors il shall bc deemed
advisable. the board. within 10 days after
the adoption of Il resolution to that effect
by majority of the whole board ut any
meeting called for that purpose. OF which
meeting each director shall receive three
days notice. shall cause said notice of the
adoption of such resolution to be mailed
each stakeholder. together with notice
# meeting of the stockholders to be
held at the office of the corporation, to take
action upon said resolution, which meet
ing may l." adjourned from time to time.
anu >l.stl Ice Htlu between W q. III. ana .
=. m. n at any such meeting. 2-3rdS in
interest of all the stockholders shall vote
that a dissolution take place, a certified
copy of such resolution. signed by tn
presiding officer aud secretary shall be
filed in the office Of the secretary of
state. together with list Of the .namcS ard
residences Of the directors and Officers.
certified 10y the president and secretary oil
the corporation. who. if satisfied with the
proof Of compliance with law, shall issue
a certificate that the foregoing documents
have been filed, and the corporation shall
then stand dissolved, and the board shall
publish II notice of such dissolution not
less than three times in Il paper published
in tho Parish of Orleans and the corpora
tion shall proceed to settle up and adjust
its business and affairs. If all stock
holders consent in writing to a dissolution.
then on filing such consent in the Office
of the secretary of state, he shall issue
his certificate as aforesaid. and thercupoH
the corporation shall wind up It's affairs
aud settle its business as ii the dissolution
had taken place at a meeting for that pur-
pose. Upon dissolution. the stockholders
shall elect from their number one or NOR
lipuidGtors. with full power to settle its
affairs. collect the outstanding debts, sell
and convey the property, pay its debts
and divide the remainder among the stock
holders. who shall have power to meet and
act under the bylaws and under regula-
tons {" bc made by majority of su2h
IiquiGators, to fix the price and prescribe
IN" terms and conditions of sale and take
notes and bonds secured by mortgage or
otherwise for part or all of the purchase
'Ticc: TO sue for and recover the debts and
property of the corporation and to he su, a |
likewise. Said liquidators 10 receive such |
compensation as may he agreed on by the |
stockholders. at the time OF their election.
ARTICLE VIlI.-The subscribers here |
o have each, in order that this charter |
'hall serve as an original subscription list |
Indicated opposite their respective names |
ma signatures the number of shares OF |
took subscribed for by each.
Thus done and passed in my office In |
he city of New Orleans, La. in the pres
nee of Daniel Vending and H. Brown
ompetent witnesses residing in this city.
1ho have hereuntO sign~d their names with
he said appearerS and me, notary, after
ne reading of the whole.
Original signed: l.. G. Fitzgerald New
orleans, La, 20 common shares; Il. Cam
agna, New Orleans La, 20 common
harrS; +. W. CalOngne. Jr., New Orleans,
"a, 20 common shares.
ETHELRED VI. STAFFORD.
Notary Public.
L. the undersigned, Recorder of Mort
ages. in and for the parish of Orleans.
tate of Louisiana. do hereby certify that |
he act of Incorporation. OF the Automo-
i've Road Insurance Inc was this day
uly recorded in my office i'll book 1916,
OliO...
New Orleans. May 81. 1920.
(Signed) EMILE J. LEONARD, u. Il.
4 true copy.
ETHELRED NJ. STAFFORD.
Notary Public.