The herald. [volume] (New Orleans, La.) 1905-1953, 1922-12-14
CHARTER


venanted and agreed and do by these
presents covenant, agree and bind them
selves, as well as all such persons as may
hereafter become associated with them TO
form a corporation for the objects and
purposes and under the articles and stipu-
lations following, to-wit:
ARTICLE 1.-The name Of this corpo-
ration shall be the Bahama Investment
Company, Incorporated, and under It's
SAID corporate name it shall have power
and authority to have and enjoy corporate
existence and succession for the full term
and period of ninety nine (99) years
from and after the date hereof; to con-
tract sue and be sued; to make and use
corporate seal, and the same to break
or alter at pleasure; to hold, receive,
lease, purchase and convey, as wei as
mortgage and hypOthecate property, real,
personal and mixed, as well as corporeal
and incorporeal; to own and hold stocks
and bonds of other corporations; TO name
and appoint such managers, agents, oil
rcctors and officers as its business, In.
terests or convenience may require; and
to mike and establish, as Wei as alter
and amend from time to time such by
laws, rules and regulations for the proper
conduct, management and resulitio or
the affairs of said corporation as may be
nec' Ssary and proper.
ARTICLE 1.-THE dOmicile Of this cor
pOrtation shall be in the City of New Or
leans State of Louisiana, and all cita-
tiOns or other legal process shall De
served upon the president of the corpo-
ration, or in the event of his absence,
upon the yice-presidept.
ARTICLE III-The objects and pur-
poses for which this corporation is or
ganized and the business to be carried on
by it are hereby declared TO be:
To acquire in any manner to hold and
own, to sell, and otherwise dispose of, to
lease, to mortgage, pledge, hypothecate,
and otherwise cucumber, and generally to
deal in, real estate stocks, bonds, mort
cages, notes, commercial paper and Sc
cu-:;ies of every kind and character, and
generally to do and perform any and all
things necessary, incidental or appertain-
| ing to the business aforesaid; and also
| to have and exercise such rights and pow
ers as are usually granted corporations
of like character.
| ARTICLE IV-The capital stock of this
| corporation is hereby fixed at the sum OF
seventy five thousand $75.0O0.O0) dollars,
divided into seven hundred and fifty (750)
shares of the par value of one hundred
| ($1OO.OO) dollars each. Said stock shall
be paid for in cash at such times, in such
| amounts and after such notice to the sub
scribers as may be fixed by the board of
directors, unless otherwise provided by
! law, or the same may be issued at not
less than par for labor done. or for CAPT
| tai stock in other corporations, or for
| property actually received by the corpo-
ration as provided by law
No stakeholder IL this corporation shall
sell all or any part of his stock therein
without first giving fifteen 15) days
/ written notice to the corporation of his
desire to sell. The corporation upon re-
ceiying su"h written notice, shall allow
the other stockholders, after notice mailed
to each of them at his last known ad-
dress, an opportunity to purchase such
stock at, its book value within said delay
of fifteen, days, In proportion to their re-
specttve holdings of stock in the corpora
ton.
! ARTICLE N--The business and affairs
of this corporation shall be managed by
and all of the corporate powers of this
corporation shall be vested in and ex
ercised by a board of directors, composed
of five 90 stockholders, three (3) of whom
shall constitute a quorum for the trans
action of business.
. Any varancies occurring among the di
rectOrs or officers of the corporation shall
be filled by election for the unexpireC
term by the remaining directors.
Until the election provided for in Ar
ticle VI Of this charter, the directors o
the corporation shall be: Mrs; b. II
New Orleans, La; Mrs. Maud II. Billet
, No. SO Newcomb Boulevard. New Or
leans, La. Adolph c: Billet: No. 8
NewcOmb Boulevard, New Orleans, La
boulevard, New Orleans, La; A. W
Hyatt, No. 407 Camp Street, New Orleans
/. I.a.
The officers of the corporation shall b
a president, a viee-president, and a secre
tary treasurer, who shall be elected b,
, the board Of directors from among thei
? number at the first meeting of the boar
aeld after its election. Until after the f-s
election as provided in Article vi Of thi
= shall ' be the following: A. W. Hyatt,
/ president; Adolph C. Billet. vice-presi
dent; Henry w. Lemoine, secretary-trea
. urer.
e ARTICLE Won the fourth Monday Q
: June, 1923, and annually thereafter, on tn
Y fourth Monday of June of each and ever
= year, a meeting Of the stockholders 9
Il this corporation shall be held at its DOM
! cile for the purpose Of electing director
r for the ensuing year. The failure, froI
d any cause whatsoever, to hold the annus
: meeting of stockholders, or the failure
d elect directors at said meeting, shall ne
dissolve this corporation, but the dfret
o tors and officers then in office shall n
d main in office until their successors sha
l, have been duly elected, qualified and II
l. stalled.
r. Special meetings Of the stockholdel
y may be called in the manner provided b
o law, and all stockholders meetings sha
v be held in accordance with, and in II
$. manner provided by the bylaws OF Il
" corporation.
ARTICLE yII-This charter may
n amended. and the capital stock of tn
l. or this corporation may be dissolved.
'e the method and manner provided by La,
ARTICLE vIII-whenever this corp
'e ration may be dissolved either by lin
s. tation, or from any other cause, its a
" fairs shall be liquidated by three iquida
L ing commissioners, to be selected by Il
is stockholders from among their number
( special meeting convened for that pu
l. pose, after notice mailed to each stocl
holder to his last known address at lea
r. thirty days prior to said meeting. II
4, majority Of the stockholders voting
d, such election shall be requisite to ele
n said liquidating commissioners, and Il
r stockholders at the same time, by a m
ID jority Of the stock voting at such electit
re shall be authorized to fix the fees to
III paid said liquidating commissioners. Sa
ID liquidating commissioners shall remain
IN office until the affairs Of the corporate
u shall have been fully liQuidated, and
DR. case Of vacancy, or vacancies OF one
a more Of said commissioners, the vacan'
n or vacancies shall be filed by the renal
T. ing commissioners from among the stoc
rs holders.
4 ARTICLE IX-No stakeholder Of I'll
IN corporation shall ever be held liable
0, responsible for the contracts or faults
s. this corporation, in any further sum tn
pr the unpaid balance Of stock for which
ne has subscribed, nor shall any mere !
a formality in organization have the enc
posing stockholders to any liability 9th
I'd than as above provided.
vi ARTICLE X-The subscribers here
OF have respectively written opposite the
respective names and addresses, {
amount Of the capital stock for which tn
&c have subscribed, so that this act Of
a o1on tha nv