The herald., 1920-07-15
CHARTER OF TULANE OIL LAND AND
IMPRON EMENT COMPANY, INC.

June l0-July IL.
CHARTER OF TULANE OIL LAND and
IMrRON EMENT COMPANY, INC.
United States of America State of Lou
iSiana Parish of Orleans. City of New
Orleans. lie it known. that on this 3lst
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, notary public. in
and for tn" parish of Orleans, state OF
Louisiana. duly commissioned and quail
fled, and in the presence of the witnesses
hereinafter named and undersigned. per
SUnally came and appeared the persons
whose names are hereuntO subscribed and
who declared that availing themselves of
the provisions of the general laws of the
stat" of Louisiana. relative to the organ
izatiOn of corporations, they have cove
nanted and agreed. and do by these pres
entS covenant and agree and bind, form
and constitute themselves. as we'll al such
other persons as NAV hereafter iOin or be
com" associated with them. into an as
ISOLATION and body polite in law for the
objects and purposes and under the agree
mentS and stpulatiOns hereinafter set
forth:
ARTICLE 1.-The name. style and title
of this corporation shall be: Tulane oil.
Land and Improvement Company. Inc"
and under that name il shall have and
enjoy all the rights. privileges. advan-
tageS, power and authority. conferred by
the constitution and laws of the state of
Louisiana upon corporations 1t shall eX-
list for period of ninety nine years I'M
less otherwise dissolved.
Ii shall have the power and authority
in its corporate name, to contract. to sue
and be sued to make and use a corporate
seal. the same TO break. alter or amend
of nj. 70 ,tt. a cali LoIl
lease. mortgage. hypothecate 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-
duct 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
thlnS 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 and other legal process shall
be 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 III.-The objects and pur-
!
| gained, and the nature of the business to
be carried Oh by it are hereby declared
| to be:
| To acquire. own, buy, lease sell mort
| gage hypOthecate and pledge property.
real, personal and mixed, and particular
| ~ 10 develop mineral, oil and gas lands
| In the state of Louisiana, other states of
| the United States of America, and for
eign countries, and generally to do and
| engage in any business, enterprise or I'M
| dertaking connected with, growing out of.
| incidental or germane TO any of the OBJ
| jects and purposes set forth in or con-
| templated by this charter.
| ARTICLE IN.-The capital stock of this
| corporation Is fixed at the sum of twenty
| five thousand (S25,O0O.OO) dollars, divided
| into two hundred fifty shares of $4,000
each. Said stock shall be represented by
| certificates of stock, siEneG by the presi-
/ dent and the secretary treasurer, and in
! the absence or inability to act of the
president. by the yice-president. Said
| stock shall be issued at such times and in
| such amounts. for such price and upon
such terms and conditions as the board
OF directors may see fit and proper and
| shall be paid for in cash or its equiva-
| lent in property, the board of direc-
| tors may decide. All shares shall be full
| paid and non assessable. Said stock shall
| be transferable only on the books of the
| company, and on the surrender or due
| proof of loss of the original certificate
| No stakeholder shall have the right 10
| sell or otherwise dispose of his stock in
4 this corporation without first offering
| same to the corporation at the book valu-
alton thereof, as determined by the books
! of this company, and this corporation j.
| authorized to purchase said stock at said
book valuation for the benefit Of the other
stockholders of the corporation.
| The capital stock may be increased ia
one hundred thousand (Sl00,000.O0) dol
| lars.
ARTICLE V.-This corporation shall be
gin business and be going concern as
soon as one half of its capital stock shall
have been subscribed and as soon as one
half the amount of said subscription has
been paid for.
| ARTICLE VI.-All the corporate pow
ers of this corporation shall be vested
in and the management and control of it!
business and affairs conducted by a boarC
of directors, composed of seven stock
holders, four of whom shall constitute
quorum; no member of said board to owl
or subscribe for less than one share o
stock. Said directors shall be elected b.
ballot at a general meeting of the stock
holders on the second Monday of May
1921, and annually thereafter on that day
Every stakeholder shall be entitled in per
son or by proxy, to one vote for ever!
share of stock owned by him. All cleo
tons shall be held under such rules an,
regulations as may be determined by sait
board of directors. Ten days written no
| tice, directed to the last known address o
every stakeholder shall be given of al
elections
The directors thus elected shall con
; tinue in office until the second Monda.
I of May. 1922, or until their successor
: shall have been elected and qualified; an
failure to elect officers or directors shall
not he considered as forfeiture of thi
, charter. Any vacancy occurring in tn
, board of directors shall be filled by tn
, remaining directors for the unexpire,
term. A majority of the stockholders at
. meeting shall constitute a quorum for tn
; transaction of any business.
Said board Of directors shall, at its frs
meeting after its election, elect out of it
own members president, a vice presi
dent and a secretary treasurer; and sal
board shall have the power in its discre
/. ton to unite two or more officers, tn
same to confer upon one person. Sal
board shall have the power to appoint an
dismiss such officers, agents, clerks an
employees as they may deem advisabl
; and to fix their compensation.
Said board Of directors is special
vested with the power and authority {
mortgage or pledge the property, rea
: personal and mixed Of the Corporation a
they may deem fit and proper; to pur
chase. hold, own, mortgage, pledge. leas
and dispose of real estate, improved an
unimproyed, city or country; to execut
mortgages. issue notes. bonds and othe
: evidence Of debt, and to borrow and len
+ money on same to and from individuals