The herald. [volume] (New Orleans, La.) 1905-1953, 1921-01-13
CHARTER.

so subscribed shall be paid within twelve
Q2) months from this date, either in cash
or in property received by the corporation
at such value as may be fixed by the
Board of Directors, and at such time as
the Board of Directors may determine.
4. The remainder of the authorized cap
ital may from time to time be issued by
the Board of Directors at not less than
par, either for cash or for property re-
ceived by the corporation at such value as
may be fixed By the Board of Directors.
). No transfer of the capital stock shall
be made except upon the books of this cor
poration upon surrender of the outstand-
ing certificate and pursuant to Such rules
and regulations the Board of Directors
may adopt, and neither sale nor other dis |
position of said stock shall be made by |
any stakeholder without first offering the
same in writing for a period of thirty tSU /
days, through the Board of Directors. TO /
the other stockholders at a price equal TO
the book value as shown by the last pre-
ceding inventory.
8. The capital stock of this corporation
may be increased to six hundred thousand
$500 OOeO0) dollars.
ARTICLE VI All the powers of this
corporation shall be vested in and eNer-
cised by a Board of not less than three nor
more than seven Directors, elected by the
stockholders at the annual meeting which
shall be held on the first Monday of DE
cember of each year. Each Of the Direc-
tors shall own at least one share OF th'
capital stock standing on the books of this
corporation in his own name. The hrSl
| annual meeting shall be held On the trSi
Monday of December, 1921 until which
| time the officers and directors named il
| this charter shall continue to act and uh
| til their successors are elected and qn'
fed. At each annual meeting of the SAID
| stockholders, the stockholders shall eiec,
| a Board consisting eff as many Directors
| from three to seven as they may desire
| and should they elect less than seven, the
/ oil tnH hal
| at any time to Increase their number up
| to the maximum number herein provided :;
| and all vacancies in the Board of Directors
may be filled by the remaining Directors.
. Any Director may be represented at
any meeting by any other stakeholder. by
| written proxy. Immediately, or as s6On as
| practicable after their own election, thu
| Board of Directors shall elect Presi-
| dent, a Vice President and a Secretary
| Treasurer. The failure to hold the an
nual meeting and to elect Directors shall
| not affect this corporation nor impair it,
| management. but the Directors and officers
in Office shall continue in office until tn
| successors are elected.
g. The first Board of Directors and Off
| GERS of this corporation and their pOStoihc,
| addresses are as follows: Marcus Salmon,
New Orleans, La, President; Charles Kos
| en-, New Orleans, La, Vice President
Elkin Moses, New Orleans. La. Secretary
| Treasurer.
Il.
may at any time be divided by the stock
| holders into the Office of Secretary and the
Office of Treasurer, and, in such event, the
Secretary need not be member of the
Board
3 The Board of Directors may make
amend and repeal all bylaws for the regd'
lation of the corporation.
ARTICLE VII. This Act of Incorpor.
alton may be modified, changed or altere'
or said corporation may be dissolved IL
, accordance with the law of this State.
3 Notice of the holding Of any meeti
| of the stockholders for any purpose IN;
be waived by the unanimous consent OF Il.
the stockholders.
g. In case of the dissolution of the cor
: poration its affairs shall be liquiaated b,
one or more liquidators elected by ma
jority vote of the stock present or repre-
: scented at said meeting, and said liqul
E dators shall have such powers. compensa
tions and duties as the stockholders ma,
determine.
Q ARTICLE Vino stockholder shall
d ever be held liable for the faults OF con
} tracts of this corporation in any furthe
k sum than the unpaid balance due TO IN
corporation on the shares subscribed %
V him, nor shall any mere informally haV
II the effect of rendering the charter null o
of exposing any stakeholder to any Habi
n ity beyond the unpaid balance due on nj
l. stock.
ARTICLE vIII.-The subscribers heret
q have respectively written opposite the
names the amount of stock subscribed b
N them in this corporation, so that this az
d of incorporation may also serve as III
'e original subscription list Of the corpori
B. ton, and they have stated their postofnI
1t addresses so as to conform with Act =
ir of 1914.
RS Thus done and passed at my Office,
lie the City of New Orleans, State OF Lou1
lana, on the day, month anS year here
first above written, in the presence OF
NJ Robert and 1. J. Barrios, competel
witnesses, residing in this city, who ha'
D hereunto signed their names vita said a
bearers and me, Notary, after due readlr
of the whole.
Original signed: Marcus Salmon, 5
ne Magazine street New Orleans, La, (l4S
In fourteen hundred eighty shares; charl
Rosen, 1920 Whitney Bank Bldg, New U
a. leans. La, (10) ten shares; Elkin NOSE
M $40 Maison Blanche Bldg, New orlean
La, C0) ten shares.
hal witnesses: E. NJ. Robert, I. ]. Barrie
u SCOTT E. BEER.
Notary Public.
7. the undersigned, Recorder of MOI
cages, in and for the Parish of Orleal
hereby certify that the above and foreg
- ing Act of Incorporation Of Nesoul Real
~ & Investment Co, Inc, was this day du
recorded in my Office in Book 124S FOL
=. New Orleans, La, December 81
1920
u I. the undersigned Notary, hereby &c
'r- tify that the above and foregoing is VI
tn and correct copy of the original cnarI
ar of yesoul Realty & Investment Co., In
", together with the certificate Of the
ic, corder of Mortgages thereon.
nd SCOTT Il. BEER.
nd Notary Public