The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-01
CHARTER.

lana for tn" organization OF corporations,
and especially Act pa of the Acts of
1914 they have covcnautsd and agreed.
and 10y these presents covenant. agree
and bind themselves a well aS such
persons rs may hereafter become aSso-
ciated with them. to form and constitute
a corporation and body polIti" in law,
and to that end they state the follow
ing matters and things and execute and
adopt these articles OF incorporation as
follows, to-wit.
ARTICLE l. The name or this corpor-
! alton shall be GEORGE II. MAGlNNlS,
/ INC.
/ ARTICLE II. The objects and pur-
| poses for which this corporation Is es-
/ tablished and the nature of the business
/ to be carried by il are declared and
/ specified to he: To act agent for in
/ surauce companies in soliciting and re-
| ceiving applications for hre, Casualty
! plate glass. boiler, elevator. accident,
| health, burglary, rent, marine, credit
! fidelity and surety bonds. and life in
surance. and all other kinds OF insur-
/ ance. the collection of premiums. and
! doing such other business as may De
! delegated to agents by such companies.
| and to conduct a general insurance
| agency and insurance brokerage business.
| ARTICLE III The capital stock of
! this corporation is hereby hNed at the
| sum of Ten Thousand Dollars SlOOOO.OO),
to be divided into and represented by
One Hundred GOOl Shares of the par
value of One Hundred Dollars tSlNOOl
! each. which shall be paid for in cash
! or may be issued for property actually
received by the corporation, or for ser
vices rendered. The capital stock may he
inceased to the sum of Twenty Thousand
Dollars (S2O,OOO.OO).
| ARTICLE " No stock In this cor
poration shall he sold. assigned or trans
ferred other than by Inheritance. unless
and until the same shall have been hrst
offered in writing to the other stock
holders for the benefit of such stock
|
same at the book value thereof. as or
the first day Of January last preceding
the date of the offer. Said offer shall
be addressed to the Board of Directors
and ten DAYS shall be allowed for the
| acceptance of same in writing by any Ot
the remaining stockholders who may be
| willing to pay the book value for said
stock so offered. as shown by the books
Of the corporation on the first day or
2 January last preceding the date of such
offer Each stakeholder shall be priv
, ileged to purchase the stock onered In
: the proportion that the number of shares
. owned by him at the time bears to the
number of shares owned by the other
a stockholders who may desire TO partici-
e pate in the purchase.
u ARTICLE V. The location of the dom
. icile of said corporation shall be In the
a City of New Orleans. in the Parish or
. Orleans State of Louisiana.
70 ARTICLE vi. The period of duration
10 of said corporation shall be nifty (5o)
lie years.
d ARTICLE VII The Board of Direc-
il tors OF said corporation shall be not less
s. than three nor more than seven. Inc
IT officers OF said corporation shall be those
II provided for by law and such other ON
4 GERS as may be provided for by the by
n laws The names and pOstoffce ad-
II dresses of the directors OF said cOrpor-
IF alton who are selected to serve for the
q first year or until their successors are
/ elected and qualified shall be as follows ::
George H. Maginnis. 1919 Palmer Ave
ie nue., New Orleans; W. ID. Maginnis. 1919
!, Palmer Avenue, New Orleans; Edward
~ New Orleans. with George Fl. Maginnis
- as President. w. u. Maginnis as Vice
President and Treasurer. and Edward
- Becker. Jr., as Secretary: The ofnce OF
III Treasurer may be held by the Vice
u President or the Secretary, as the Boar
u of Directors may determine: but in the
II II event shall be termed Vice-President
:, | Treasurer or Secretary Treasurer, as tina
r case may be. The offices and directors
"a OF this corporation shall at all times be
10 stockholders. and should any officer or
:, director during his tenure of office cease
l. to be a stakeholder he shall ipso facto
AZ cease to be an officer or director hereof
Is and the vacancy thus created shall be
x filed by the remaining members or the
Board from among the stockholders.
N ARTICLE VIII The names OF the
rs subscribers to these articles OF incor.
m poration and the number of shares OF
" stock which each subscriber is TO take
Or in said corporation are as follows
ne George II. Maginnis, "a shares, par value
lg $4,000: W. d. Maginnis, - shares, par
ne value sl5OOOO: Edward Becker. Jr, !
share, par value $4,000. Each share OF
a. stock shall he entitled to one vote. There
or shall be no cumulative voting
be ARTICLE TX. The Board OF Direc-
of tors of said corporation are hereby
at vested with all the corporate powers OF
he said corporation. including among other
a powers the following, viz: The power "a
at make. alter and amend bylaws for the
s. government Of said corporation; the
he power to borrow money. execute mort
en- cages issue notes or bonds: to sell oil
of pledge the same. and generally to do nj
or things pertinent to or necessary Tor me
Is, objects and purposes or sald corpora
all tien or which are or may be permitted
no by the laws applicable to corporations
cd the above recital of powers granted t.
,o the Board Of Directors not being ex
ne | elusive the intention being to vest TN
20 | Board OF Directors with all such othe
Ior and further powers as may be prope
to accomplish the objects and purposes
in Of said corporation.
he ARTICLE Y. Stockholders meeting
On for the election Of directors OF said cor
MS poration shall be held annually on tn
in second Monday OF January each year
les beginning with the year 1923. The Boar
nv. of Directors as named in this charte
shall hold office until said second Mon
day in January. 1929. or until their sue
20 cessors are duly elected and qualified
Failure to elect directors or to hold a.
Id annual meeting on the day specified II
this charter will not dissolve the cor
:. poration. but the directors then In ofhc
ic shall remain in office until their sue
RI cessors are elected and installed
ms. ARTICLE XI. A majority Of the Boar
lat of Directors shall constitute quorum
Ia for the transaction OF all business.
az ARTICLE XII All legal process shnl
:" be served upon the President; or, in hi
absence. upon the Vice-President OF tn
corporation.
or Thus done and passed in nv office &
nv the City Of New Orleans. in the presenc
nv Of Burt W. Henry and Harriet Spicker'
competent witnesses. both OF this city
. who have hereunto signed their name
Iic with the said appearers and me, Notary
on the date and day first above writer
- and the subscribers do hereby subscrib
for and agree to pay for the number O
shares set opposite their several names
(Names OF subscribers omitted)
OF Witnesses:
or Burt w. HENRY.
ms HARRIET SPICKERT.
In A w. COOPER.