The herald., 1921-07-28
CHARTER.
CHARTER FOLSE HECKER AUTO
TRACTOR SCHOOL, INCORPORATED.

STATE OF LOUISIANA. CITY OF NEW
ORLEANS-Be ii known, that on this 18th
day of July, in the year OF our LORD one
thousand nine hundred and twenty one,
before me. Frederick Deibel, notary pub
lie. in and for the Parish of Orleans, State
of Louisiana, duly commissioned ana
sworn. personally came and appeared the
parties whose names are hereunto SUP
Scribpd who declared that, availing them
selves of the several acts of the Legisla-
ture. and more particularly the Act No.
267 of the Legislature of 1914. relative 10
the formation of corporations, they nave
agreed to form a corporation under Sald
laws. for the objects and purposes aud
stipulations and regulations, to wit:
ARTICLE THE name and style of this
corporation shall be the FOLSE HEChEl;
Afro TRACTOR SCHOOL. lNCOR-
PORATED.
ARTICLE 1.-THE domicile shall be in
the CITY and Parish of New Orleans, but
it may establish and maintain offices or
branches in any parish or State; IL shall
exist and enjoy succession by Its cOrpor-
ate name for period of ninety-nine years
from the date hereof. and may commence
business as soon as the stock subscribed
for and amount paid, as the law directs
il shall have the power to sue and ne sued.
to receive, purchase, acquire. mortgage,
rent. lease property, real and personal,
issue full-paid stock, to contract, and en-
JOY all the privileges conferred and allowed
by law TO corporations.
ARTICLE HI-This corporation IS
formed for the following purposes, viz
ITO train mechanics in the art of operat-
ing and repairing automobiles, motor
trucks, airplanes. ears, vehicles; also to
repair manufacture. sell or mortgage, all
kinds of property. movable or immovable.
belonging TO said corporation, or otherwise.
ARTICLE IV-The capital stock is here
hN~ ODD Of no nf a
Dollars. divided into One Thousand Shares,
of the par value of Fifty Dollars each, TO
be issued for not less than par, or for the
payment or exchange for property. or for
rights actually received or purchased by
this cOrpOTatino.
The capital stock may be increased or
decreased by n majority of shares voting
at a meeting called for that purpose. said
increase to be up to One Hundred Thou
sand Dollars
ARTICLE Iv-This corporation shall be
managed by a board of directors composed
of five members; three shall constitute a
quorum for transaction of business. The
officers shall consist of a president, vice
president, secretary treasurer, all of whom
shall be ELECTED by the Board of Directors,
and who shall be members of the board ;
they shall hold their office for one year
and until their successors are elected and
qualified: all elections shall be by ballot
The president. or. in his absence, the vice
president. shall be the proper person upOn
whom all citations must be served. The
annual election shall be held on the last
Wednesday of August of each year. Each
share of stock is entitled to vote, and the
holder shall have a vote for each share of
stock he owns.
ARTICLE VI-This Act of Incorporation
may be changed. altered or amended by a
vote of two-thirds of the persons owning
the outstanding stock or shares. at a meet
ing convened for that purpose, after notice
shall have been given fifteen days to each
shareholder by publication in a newspaper
and by postal card through the mails, at
his last known residence. Should a ma
jority of shareholders vote to dissolve this
corporation. same shall be liquidated by
two commissioners appointed by the Board
of Directors.
No stock or shareholder shall have the
right to sell or transfer any share or
shares of this cooperation owned by him
until the expiration of fifteen yads, after
giving written notice TO the other stock
holders. who will have the privilege of pur-
chasing the same at the actual cash value
thereof as established by the books of this
corporation. The original subscribers
hereto shall have the option of chasing
all unsold shares not subscribed for before
offering them for sale to the public. and
at its par value. The officers shall elect a
depository or bank for all funds of this