The herald., 1922-12-07
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 THE name OF this corpo-
ration shall be the Bahama Investment
Company, Incorporated, and under Its
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
a corporate seal, and the same TO break
or alter at pleasure; to hold, receive,
lease, purchase and convey, as well as
mortgage, and hypOthecate property, real.
personal and mixed, as well as corporal
and incorporeal; to own and hold stocks
and bonds of other corporations; to name
and appoint such managers, agents, di
rectors and officers as its business, in
terests or convenience may require; and
to mike and establish, as wCI as alter
and amend from time tc time such by
laws rules and regulations f)r the proper
ccEduct, management ana reSuls ton OF
the affairs of said corporation as may be
nee, 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 be
served upon the president of the corpo-
ration, or in the event of his absence,
upon the vice-president.
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 70 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
daAI nEfn fn be M Ff
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 1915, 100000 dollars
divided into seven hundred and fifty (750)
shares Of the par value Of one hundred
(S1O0.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 fol-
property actually received by the corpO-
ration as provided by law.
sell all or any part Of his stock therein
without first giving fifteen (15) days
written notice to the corporation of his
desire 10 sell. The corporation upon re-
ceiving such written notice, shall allow
the other stockholders, after notice mailed
10 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-
spective holdings of stock in the corpora
ton.
ARTICLE V--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 board of directors, composed
Of five 90 stockholders, three (3 Of whom
shall constitute a quorum for the trans
action Of business.
Any vacancies occurring among the di-
rectors or officers of the corporation shall
be filled 10y election for the unexpired
term by the remaining directors.
Until the election provided for In Ar.
the corporation shall be: Mrs. b. II
Williams. No. 80 Newcomb Boulevard
New Orleans. La; Mrs. Maud H. Billet
No; 50 Newcomb Boulevard, New Or,
S saRs La Ro AdSIPh G s Billet No.
Henry w. Lemoine No. 80 Newcomt
Boulevard, New Orleans La; A. w
Hyatt, No. 407 Camp Street, New Orleans
La.
The officers of the corporation shall be
president, yice-president, and a secre-
tary treasurer, who shall be elected by
the board of directors from among their
number at the first meeting of the board
aeld after its election. Until after the f-st
charter, the officers Of this corporation
shall be the following: A. W. Hyatt
president; Adolph c. Billet, vice-p resi.
dent; Henry W. Lemoine, secretary treas
urer.
ARTICLE Won the fourth Monday OF
June, 1923, and annually thereafter, on the
fourth Monday Of June of each and every
year, a meeting Of the stockholders OF
this corporation shall be held at its domi-
Gle for the purpose Of electing directors
for the ensuing year. The failure, from
any cause whatsoever, to hold the annual
meeting of stockholders, or the failure tC
elect directors at said meeting, shall not
dissolve this corporation, but the direc
tors and officers then in office shall re
main in Office until their successors shall
have been duly elected, qualified and in
stalled.
Special meetings Of the stockholders
may be called in the manner provided by
law, and all stockholders meetings shall
be held in accordance with, and in the
manner provided by the bylaws of the
corporation.
ARTICLE VII-This charter NAV b,
amended, and the capital stock of this
corporation may be increased or decreased
or this corporation may be dissolved, il
the method and manner provided by law
ARTICLE VIII-Whenever this corpo
ration may be dissolved either by limi
tation, or from any other cause, it's az
fairs shall be liquidated by three liQuidat
ing commissioners, to be selected by the
stockholders from among their number al
special meeting convened for that pur
pose after notice mailed to each stock
holder to his last known address at leas
thirty days prior to said meeting. The
majority Of the stockholders voting al
such election shall be requisite to elec
said iquidating commissioners, and the
stockholders at the same time, by a ma
jority Of the stock voting at such election
shall be authorized to fix the fees to b,
paid said hquidating commissioners. Said
liquidating commissioners shall remain ir
effice until the affairs of the corporation
shall have been fully Hquidated, and II
case Of vacancy, or vacancies Of one OF
more of said commissioners, the vacancy
or vacancies shall be filed by the remain
ing commissioners from among the stock
holders.
ARTICLE IX-No stakeholder Of thi.
corporation shall ever be held Liable oil
responsible for the contracts or faults Of
this corporation, in any further sum thar
the unpaid balance Of stock for which hi
has Subscribed, nor shall any mere in
formality in organization have the effeci
Of rendering this charter null or of ex
posing stockholders to any liability Other
than as above provided.
ARTICLE X-The subscribers hereto
have respectively written opposite theiI
respective names and addresses, the
amount Of the capital stock for which they
have subscribed, so that this act of in.
corporation may serve also as the origi