The herald., 1922-11-23
CHARTER OF Pallet, INC.

known, that on this Fourteenth day of the
month of November, in the year one
before me, Felix j. Dreyfous, notary
public, duly commissioned and sworn in
for the Parish of Orleans and City of
New Orleans, therein residing. personally
appeared. the persons whose names are
hereunto subscribed, who declared that,
ayailing themselves of the provisions Of
the laws of this state, relative to the or
ganization of corporations, and more par
ticu1arly Act No. 267 of the General As
sembly OF this state, approved July Q, 1914
they have coyenanted and agreed and do,
by these presents, covenant and agree,
bind and form and constitute themselves.
as well as such persons who may here
after join or become associated with them
into a corporation and body polite in
law, for the objects and purposes and
under the agreements and stipulations
ARTICLE The name and style of
this corporation shall be Pallet. Inc. and
under that name IL shall have and enjoy
all the rights. privileges and advantages
granted by law to corporations: ii shall
exist for the period of ninety nine years
from this day; 1t shall have the power to
contract, sue and be sued in its corporate
name: to make and use a corporate seal !;
and the same to break or alter at pleas
ure; to hold, receive. purchase, convey,
mortgage. hypothecate or pledge property,
both real and personal; to issue bonds.
notes and other obligations or negotiable
managers. directors, officers, agents and
other employees as the interest and con-
venience Of said corporation may require
or demand; to make and establish such
bylaws. rules and regulations for the
corporate management and control OF the
affairs OF the corporation as may be
deemed necessary and expedient.
ARTICLE 1.-THE dOmicile of said
City of New Orleans. State Of Louisiana,
and all citations and other legal process
shall be served on the president; In his
absence on the vice-president: and in the
absence of both, on the secretary.
ARTICLE III-The objects and DUR
poses for which this corporation is or
ganized and the nature of the business to
be carried on by 1t are hereby declared
10 be; to acquire, construct. own, lease
and operate planning mills. saw mills,
sash, door and blind factories; to buy,
sell and deal in, for its own account. or
on commission. logs, lumber and other
building materials, and generally to en-
gage In and carry on any other business
or enterprise which may be germane or
incidental to, or connected with, the pur-
poses hereinabove set forth or contem-
plated by this instrument
ARTICLE IV-The capital stock of this
corporation is fixed at the sum of fifteen
thousand ($15.0O0.O0) dollars. divided into
one hundred and fifty shares Of the par
value of one hundred dollars each. All
shares of stock shall be full-paid and
worcestershire. No transfer of stock shall
be binding upon the corporation unless
made upon its books, and all certificates
Of stock shall be signed by such officers
as may be designated by the board Of
directors.
This corporation shall have the right
to Increase its capital stock to the further
sum OF fifty thousand $J0,OOOOO). to be
divided into shares Of one hundred dollars
each. provided said increases in the capt.
tai stock shall have been authorized by the
stockholders at meeting to be held
pursuant to the provisions of Article
VIII of this charter.
ARTICLE V-All the corporate powers
of the company shall be vested in and
the management and control of its affairs
shall be exercised by a board of direc
tors composed Of three stockholders. the
membership of which may be increased to
a number not exceeding five by the board
of directors at any of its regular meetings
A majority Of the directors shall consti
tute a quorum for the transaction of all
business. The directors shall be elected
annually by ballot on the third Monday
in October in each year. Each stock
holder shall be entitled. in person or by
proxy, to vote for every share owned
by him and all elections shall be held
under such rules and regulations as may
be determined by the board of directors
after fifteen days notice by mail of such
election shall have been sent to each stock
holder at his last known address. The
directors thus elected shall continue in
onice Tor one year, or until their success
sors shall have been duly elected and
qualified. No failure to elect shall be re-
garded as forfeiture of this charter
Any vacancy occurring on said board
shall be filled by the remaining directors
Tor the unexpired term: the said board
shaIi likewise elect the additional men,
oers in case they should determine to in
crease the number Of said board. Said
board shall have the right to appoint and
dismiss such clerks. manager and other
employees OF the corporation as conditions
fhn bat
poration may require. The tenure of of
nee OF all the employees of the corpOration
shall be during the pleasure of the board
OF directors. Any of the directors or Of
hcers shall have the right to appoint, by
written instrument, another director or
stockholder to act as his proxy and in his
stead at any and all meetings of the board
OF directors. Said board shall also have
the right to elect a secretary who need
not be director or stakeholder.
ARTICLE VINO stakeholder shall ever
be held liable for the contracts, faults or
debts of said corporation, nor shall any
the effect of rendering this charter null
or OF exposing stakeholder to any liza
Dilty beyond the unpaid balance due on
th sR sharss owned y.s By him:
ton may be changed. modified or altered
or this corporation may be dissolved, with
the assent Of the stockholders owning
two-thirds Of all the stock of the corpo.
.at.on, NJ GENERAL meeting convened for
that purpose, and after at least ten days
written notice Of this meeting has been
given through mail addressed to each
share holder Mt his last known place of
residence. In case Of dissolution by the
expiration Of this charter or otherwise
the stockholders shall elect three liouida-
tors from among their number to lioui-
cate and settle the business and AFFAIRS of
tne company. In case Of death or dis
or houidators. the survivors Of the re-
naming liquidators shall appoint a sue
eessor to him. The said liquidators shall
nave power to settle the company,s AZ
Iairs: collect outstanding debts, and di-
vlded the remaining money and property
among the stockholders. They shall also
nave power to meet and act under the nv
Jaws OF the corporation and under regu-
, ,atIons 10 De made by a majority of said
iiquidators; to Ak the price and prescribe
tne terms of sale Of said property, and the
manner In which the sale shall be made.
ana take notes and bonds secured nv
mortgage and otherwise for part OF the
purchase price for all or any part of said
property, provided. however. that the
rights herein conferred upon the iiauida-
tors may be modified, changed or denied
Dy u majority OF the shares of the capital
STOCK OF the corporation. The said lioui-
dators shall have authority to sue for and
recover the debts and property in the
name OF the corporation and may be sued
IN tne same name, and they shall be liable
IN sondo 10 any creditor or stockholder
Ior the monies and property of the cor
poration which shall come to their hands
or possession as liquidators and for the
proper application and distribution there
ARTICLE vIII-The entire csn,ta,
stock of this cornorof;oc ~.