The herald., 1922-05-18
CHARTER.

lana for the organization of corporations.
and especially Act 267 of the Acts of
/ 1914, they have CovenaHted and agreed.
and by these presents covenant, agree
and bind themselves, as well such
persons may hereafter become assoc
| ciated with them, to form and constitute
/ a corporation and body polite 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 IL. MAGINNIS,
| INC.
! ARTICLE II. The objects and pur-
| poses for which this corporation is es-
| tablished and the nature of the business
to be carried on by IL are declared and
| specified to be: To act as agent for in
| surance companies in soliciting and re-
ceiving applications for fire, 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 be
delegated to agents by such companies,
and to conduct general insurance
agency and insurance brokerage business.
ARTICLE III. The capital stock OF
this corporation is hereby fixed at the
| sum of Ten Thousand Dollars (sl0.O00.O0),
| to be divided into and represented by
| One Hundred 900 Shares of the par
| value of One Hundred Dollars tslOOOO)
| 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 (S20OO000).
ARTICLE w. No stock in this cor
| poration shall be sold. assigned or trans
| ferred other than by inheritance. unless
| and until the same shall have been first
| offered in writing to the other stock
| holders for the benefit of such stock
holders as may desire to purchase the
| same at the book value thereof, as Of
| 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 Of
| 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 OF
| January last preceding the date of such
| offer. Each stakeholder shall be priv
| ileged to purchase the stock offered In
| the proportion that the number of shares
| owned by him at the time bears to the
number of shares owned by the other
stockholders who may desire to partici-
pate in the purchase.
| ARTICLE v The location of the dom
cile of said corporation shall be in the
City of New Orleans. in the Parish OF
Orleans, State of Louisiana.
| VI. Inc perlOu OF
OF said corporation shall be fifty 500
years.
ARTICLE VII. The Board of Direc-
tors Of said corporation shall be not less
than three nor more than seven. The
officers OF said corporation shall be those
provided for by law and such other off,
GERS as may be provided for by the by
laws. The names and postoffice adj
| dresses OF the directors OF said corpor-
alton who are selected to serve for the
thafr orn
elected and qualified shall be as follows:
George II. Maginnis 1919 Palmer Ave-
nue.. New Orleans; W. u. Maginnis, 1919
Palmer Avenue. New Orleans; Edward
Becker, Jr., 24c4 st: Bernard Avenue,
New Orleans, with George II. Maginnis
as President, W. d. Maginnis as Vice
President and Treasurer, and Edward
Becker. Jr., as Secretary. The office OF
Treasurer may be held by the Vice
President or the Secretary. as the Boar
of Directors may determine: but in the
event shall be termed Vice-President
Treasurer or Secretary Treasurer, as thu
case may be. The offices and directors
of this corporation shall at all times be
stockholders. and should any officer or
director during his tenure of office cease
to be a stakeholder he shall ipso facto
cease to be an officer or director hereof,
and the vacancy thus created shall be
filed by the remaining members of the
Board from among the stockholders.
ARTICLE VIII. The names Of the
subscribers to these articles Of incor-
poration and the number OF shares or
stock which each subscriber Is to take
in said corporation are as follows:
George II. Maginnis, "a shdres. par value
$4,000: W. ID. Maginnis, Is shares, par
value $15O0O0; Edward Becker. Jr., i
share, par value $4,000. Each share Of
stock shall be entitled to one vote. There
shall be no cumulative voting.
| ARTICLE TX. The Board Of Direc-
tors of said corporation are hereby
vested with all the corporate powers OF
said corporation, including among other
powers the following, viz: The power to
make, alter and amend bylaws for the
government of said corporation; the
power to borrow money, execute mort
cages, issue notes or bonds; to sell or
i pledge the same, and generally to do all
things pertinent to or necessary for the
! objects and purposes of said corpora
! ton. or which are or may be permitted
by the laws applicable to corporations.
the above recital Of powers granted to
the Board Of Directors not being ex-
elusive, the intention being to vest the
Board Of Directors with all such other
and further powers as may be proper
, to accomplish the objects and purposes
of said corporation.
ARTICLE X. Stockholders meetings
for the election OF directors Of said cor
. poration shall be held annually on the
second Monday Of January each year,
beginning with the year 1923. The Board
of Directors as named In this charter
. shall hold office until said second Mon
day in January. 1923. or until their sue
cessors are duly elected and qualified.
, Failure to elect directors or to hold an
, annual meeting on the day specified in
; this charter will not dissolve the cor
: | poration, but the directors then In office
| shall remain in office until their sue
|, | cessors are elected and installed.
ARTICLE XII. majority Of the Board
Of Directors shall constitute a quorum
= for the transaction Of all business.
) ARTICLE XII. All legal process shall
be served upon the President; or. in his
absence, upon the Vice-President OF the
corporation.
! Thus done and passed in my office In
= the City OF New Orleans in the presence
, Of Burt w. Henry and Harriet Spickert.
! competent witnesses, both OF this city,
J who have hereunto signed their names
with the said appearers and me, Notary.
on the date and day first above written,
and the subscribers do hereby subscribe
n for and agree to pay for the number OF
shares set opposite their several names
(Names OF subscribers omitted)
Witnesses:
BURT W. HENRY
HARRIET SPICKERT.
A. W. COOPER.
Notary Public
/ I. the undersigned Recorder OF Mort.
cages in and for the Parish Of Orleans