The herald. [volume] (New Orleans, La.) 1905-1953, 1920-01-15
CHARTERS.

the votes cast shall elect. Inc BOdru OF
Directors shall have power to fill all va
cancies that may occur in the Board.
Failure to elect directors on the day above
specified shall not dissolve the corporation,
but the Directors then in office shall re-
main in office until their successors are
elected and qualified. Due notice of an
other election shall forthwith be given as
above provided. Such notice OF election
shall be continued to be given until an
election is held. The Board of Directors
at their first meeting following each an
nual election shall elect from their num-
Der a President, Vice President and
Secretary Treasurer, and such officers as
the Board of Directors shall deem neces-
sary. The Board shall have power, in its
discretion, to unite two or more offices,
and the same to confer upon one person,
and shall have power to nix the salaries
of all officers and all such other officers
and employees as they deem necessary.
The Board of Directors shall have power
to make and establish, as well as alter and
amend all bylaws, rules and regulations
necessary and proper for the support and
management of the business and affairs
of said corporation, not inconsistent with
its charter. Said Board. shall also have
full power and authority to borrow money,
and through the President or some other
duly authorized agent or agents, to exc
cute mortgages. issue notes, bonds or
other obligations, in such amount and on
such terms as in their judgment may be
advantageous and generally TO do all
thlllSS necessary 1Or the proper carrying
on Of the business of this corporation, as
also to issue and deliver full paid shares
of stock and bonds or oDIigatiOnS of this
corporation, in payment of money bOr-
rOwrd. or money, labor, or services and
property or rights actually received by
this corporation, as heretofore setforth !:
and shall have power to do all such acts
and things as may be necessary to carry
out the objects and purposes for which
this corporation is organized.
A majority of auy of the Directors shall
constitute quorum for the transaction
of any business. At any meeting of the
Board, any Director absent from the meet
ing may be represented by any other di-
rector. who may cast the vote of said
absent Director, according to the writ
ten instructions of said absent Director.
The Board of Directors shall have the
power, by vote of not less than a ma
jOrity thereof, to sell. lease, mortgage, by
bond mortgage or otherwise. or to pledge
any and all of the property movable or
immOvable, belonging to the corporation,
or to receive in exchange therefor, money
or stocks or bonds or other obligations of
another corporation, without referring to
the shareholders for the power to do so !;
and they may also purchase for stock in
this corporation or for cash or on credit,
property of any kind required for any of
the purposes of this corporation, with
out authority of the shareholders.
Until the next general meeting to be
held under this charter on the second
duly qualified successors are elected and
installed. the Board of Directors shall be
composed of Ruel j. Siegel, New Orleans,
La; John T.. Garcia, New Orleans, La,
and Eugene A. Garcia, New Orleans, La,
with Ruel J. Siegel as President, Eugene
A. Garcia, as Vice President and John T..
Garcia. as Secretary Treasurer.
ARTICLE VII.-This charter may be
amended and the capital stock of this cor
pcratiOn may be increased or decreased,
or this corporation may be dissolved in
the method and manner provided by law.
AE1ICLE 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 in
formality in organization have the effect
of rendering this charter null or of ex-
posing a stakeholder to any liability than
as above provided.
ARTICLE IX.-No stakeholder may sell,
assign or transfer his stock in this cor
poration without giving to the company,
through its secretary, thirty days notice
in writing of such Intentions and the
other stockholders shall have the first
privilege of purchasing the said stock at
the book value thereof for a period of
thirty days from the said notice, after the
expiration of which time said stock may
be sold in the open market.
Thus done and passed, in my office. at
the City of New Orleans, La, on the day
month, and year first above written, in
the presence of Thelma Elliott and ID. V.
Doussan, competent witnesses. who here
unto sign their names, together with the
said appearers and me, Notary, after due
reading of the whole.
Original Signed:
JNO. f. GARCIA,
Sixty-two 1927 Shares.
r. ]. SIEGEL,
Sixty-two 1922 Shares.
EUGENE A. GARCIA,
One az Share.
Witnesses:
u. V. Doussan,
L. Elliott.
c. T. STARKEY,
Notary Public.
| 1, the undersigned, Recorder of Mort
cages in and for the Parish Of Orleans.
State of Louisiana, do hereby certify THAI
the above and foregoing Act of Incorpora-
ton of Siegel-Garcia Motor Company, In
corporated, was this day duly recorded
| in my office, in Book 1881, folio 761.
! New Orleans, December 3, 1919.
(SeaD
(Signed) EMILE J. LEONARD, by. Il.
hereby certify that the above and fore
going is a true and correct copy of the
! original on file and of-record in my Of
| flee.
c. T. STARKEY,
Notary public