The herald. [volume] (New Orleans, La.) 1905-1953, 1921-04-28
CHARTER.

! paid in. either in cash or its equivalent.
! ARTICLE V.-The capital stock of TINS
corporation may be increased 70 the sun
| of Two Hundred Thousand S(ZoO,VVol DVi o
| lars by a two-thirds vote or all OF the
| stock present or represented at a speclaI
meeting called for that purpose, or at Il
regular annual meeting of the corporation.
| ARTICLE VI.-All certificates Oh sto ',i
| the President or Vice-presldehl' anu
eeuntersigned by the Treasurer /.
! The stock of this corporation can De
transferred emily on the books OF the cor
| marathon. and subject to such regulations
| and formalities as may be by the BoaTu
of Directors from time to time prescribed;
No stakeholder shall be permitted 20 sell
| or otherwise dispose of his stock without
first Offering the same, in writing, to the
| other stockholders, through the Bearu OF
| Directors, at price not eAceeGlhs .ne
book value thereof, and the stocKh9IueIs
| shall have an option and nrst right 10
purchase all the shares of stock 20 be thus
| disposed of by sale or by the death,
resignation or otherwise of any OF the
stockholders of the corporation, ana shall
| have period of ten days in whlch 10
| accent or decline such offer OF stock.
should the Board of Directors or the
| stockholders decline to purchase SAID STOCK,
then the stakeholder or stockholders who
made the offer to sell or otherwise dispose
| of the stock may sell or otherwise dispose
| of it. in any manner and at any price that
| he or they may see fit. But each snare OF
stock is issued under the condition ana I'M
| Outstanding that no stockholder snail Hiahe
a sale or transfer of his stock in violation
! of this provision and such sale or transfer
if made shall be void, and this company
shall be under no obligation TO list Salu
stock on its books or to regard the hoIder
| of the certificate thereof.
ARTICLE VII.-The corporate powers OF
| this corporation shall be vested in ana
exercised by a Board of Direcorts com
posed of five directors, majority OF whom
shall constitute quorum for TRANSACTION
| of business.
The directors of this corporation may
! vote in person or by written proxy, at any
| of the meetings of the Board of DIRECTORS
and the Board of Directors may delegate
any of its powers to any officer or Ofncers,
| or any other representatives, OF the com
pany, by appropriate resolution to that
effect.
The first Board of Directors of this cor
poratiOn shall be composed of o. ID. Cleve-
land Neville Levy, Lester Seidenbach,
Edward Marx, Adolph Diefenthal, with U.
ID. Cleveland, as President; Neville Levy,
I Vice-president and Secretary; Lester
Seidenbach, Treasurer; and they S Tnh
ruary. 1922, or until their successors are
elected and qualified. :,
The directors of this corporation shall
be elected annually by the stockholders,
at a meeting held on the second Wednes-
day in February of each year thereafter.
Notice of such meetings shall be given
fifteen days prior to the date of the meet
ing, in writing, and sent TO each stock
holder at his last known address.
Each stakeholder, shall, at such annual
meeting or other meeting, general OF
special. be entitled, in person or proxy,
to one vote for each share of stock owned
by him. Elections shall be held under
! such rules and regulations as may from
time to time be determined by the Board
of Directors.
The directors, when elected shall hold
office for one year, or until their sue
cessors shall have been elected and quail
fed and failure to hold the annual meeting
of stockholders, or TO elect annually tht
directors. shall not operate the forfeiture
of this charter or any rights hereunder.
ANY vacancy occurring in the Board OF
Directors may be filled by the Directors
for the unexpired term. Any director may
give his proxy to vote at directors meet
ings, to any stakeholder
| ARTICLE VIII.-This Charter or Act OF
Incorporation may be changed, modined
altered or amended by and with the
consent of two-thirds OF all the STOCK
present at any meeting, general or special
held for that purpose; and such amend
ment may be material or immaterlal, SUD
ject only to limitations as may be by law
provided: and this corporation shall nave
the power to increase or decrease lts capltai
stock as hereinbefOre set out, and any IN,
crease in the capital stock, in excess OF
the amount named herein as the amount
to which ii may be increased may be mace
by three-tourths vote oI All OUTSTANDING
stock.
ARTICLE IX.-Notice of any and all
meetings referred to in this Charter or
required by law shall be given IN the
manner provided in giving notices in case
of elections. unless the same snail nave
In case of the dissolution. liquidation or
termination of this Charter by limitation
or otherwise, the affairs of this corporation
shall be liquidated by one or more hquidat-
ors elected by the stockholders, who may
provide the number of said lQuidaeors
and vest them with such power and author
ity as may by law be permitted, ana nx
the terms and conditions upon which they
shall serve, and their compensation, and
provide that in case of disability or any
one of said liquidators, the remaining
liquidatOrs may fill the vacancy or continue
to act on behalf Of the corporation.
ARTICLE X-No stakeholder Of this
corporation shall be held liable or re
, sponsible for any costs, contracts, debts
. or faults of this company. or any OF us
officers, nor shall any mere fnformality IL
! organization have the effect of rendering
this charter null and void or of exposing
a stakeholder to any liability beyond thu
unpaid balance due on the stock held D!
him.
, ARTICLE xI.-The subscribers hereto
have written opposite their names the
number of shares subscribed to by each Of
, them, and their postoffice addresses, 81
scription list of the corporation; all o
which subscriptions are payable In tn
; manner and form set out herein.
: Thus zone and passed, at my office, IL
; the City of New Orleans, Louisiana, on th'
day, month and year herein first allow
written, in the presence of Paul Il. Chase
; and A. Holland competent witnesses, VIII,
] have hereunto signed these presents will
e the said appearers and me, Notary, afte
!, due reading of the whole.
Witnesses. Paul f. Chasez. A. Holland
, HERMAN l.. BARNETT.
, Notary Public
r /. the undersigned. Recorder of Mort
,, cages in and for the Parish of Orleans
4 State of Louisiana, do hereby certify tina
], the above and foregoing Charter of tn
J Equitable Equipment Company, Inc wa
t this day duly recorded in my office, Ii
e Book 1858, folio $50.
e In faith whereof, I have signed thes
t presents, at New Orleans Louisiana, oil
8 this 18th day of March, 1921.
1 R0BT. SCOTT, by. Recorder
: true copy.
S HERMAN L. BARNETT,
. Notary Public
0 March "a to April g.
: ACT OF INCORPORATION OF TIL