The herald. [volume] (New Orleans, La.) 1905-1953, 1922-10-19
CHARTER OF
LEE FLONACHER, INC.

United States of America, State OF
Louisiana, Parish of Orleans, City OF
New Orleans. Be II known that on this
eighth day Of the month of September.
1922, before me, Charles Rosen, a Notary
Public, duly commissioned and qualified
in and for the above parish. and in the
presence of the witnesses hereinafter
named and undersigned, personally came
and appeared the several persons, all OF
the full age of majority, whose names
are hereuntO subscribed, who declared
that, availing themselves of the laws OF
this state in SUCH cases made and pro.
vided, relative 10 the organization OF
corporations, they do hereby constitute
themselves, their associates and success
sOrS corporation for the objects and
purposes and under the conditions and
stipulations of the following articles,
which they hereby adopt as their charter,
tO-wit:
ARTICLE l. The name and title of
this corporation shall be Lee Flonacher,
Inc.
ARTICLE ii. Its period Of duration
shall be ninety nine years from this date.
ARTICLE III. The domicile of this
corporation shall be in the city Of New
Orleans, parish of Orleans. state of Louis
lana, and all citations and other legal
process shall be served on the President,
and, in case of his absence or disability,
on the Secretary Treasurer, or as other
wise provided by law.
ARTICLE ". The objects and pur-
lied and the nature of the business to
be carried on by it are hereby declared
to be: To manufacture and buy and sell
mems and boys clothing, and generally
to do any and all things connected with
or incidental to said business.
ARTICLE V. Said corporation shall
have for the purposes of the business to
be carried on by 1t all the powers con,
ferred by law upon corporations, and
shall generally have and exercise all the
powers necessary or convenient to carry
on said business. Said corporation shall
have full power to contract; to sue and
be sued, in its corporate name; to make
and use a corporate seal, and the same
to break or alter at pleasure; to hold, re-
ceive, purchase, rent or otherwise acquire,
and to convey, mortgage, hypothecate,
of property, real, personal and mixed, in
Guiding trademarks, trade names, labels
and patents; to issue bonds, notes or
other obligations; to name and employ
such managers, directors, officers, agents
and employees as the interest and con-
veDience of the corporation may require
and to make such bylaws, rules and reg.
ulations for the management and control
of the business and affairs of said cor
poration as may be deemed necessary and
proper.
| ARTICLE vi. The capital stock Of this
corporation is hereby fixed at the sum
lars $3.50. OOO.OO), divided into fifteen hun
| dred shares Of the par value OF One
Hundred Dollars (s10O.OO) per share and
consisting Of two classes, to-wit:
| Fifty Thousand Dollars 1850, 900. 00)
thereof shall be preferred stock al and DO one on
Hundred Thousand Dollars ($1OO,OOO.OO)
| common stock.
| The preferred stock legally issued and
outstanding shall be entitled by prefer
| ence and priority over the common stock
| to yearly dividends when and as declared
by the Board Of Directors out of the
| net profits or earned surplus, at the rate
of eight per cent 500 per annum, and
no more, payable on the hrst day OF
lative and shall be limited to said eight
per cent (STs) per annum. No dividends
shall be paid or set aside for the common
stock until all the dividends due on tbs
preferred stock shall have been fuily
paid.
The Board Of Directors may on any
dividend date, out of the net profits OF
| earned surplus, retire any or all OF IN,
preferred stock upon giving sixty (6o)
days prior written notice by mail or II
person to the preferred stockholders Of
| record, by raying One Hundred and Fivs
Dollars ($105.O0) per share, together WITH
all dividends due thereon to such dividend
date; and from and after said DIVIDEND
date all dividends on said stock shall
cease. Said redemption shall be proper
tionate to the holdings of all OF the out
standing preferred stock. Should an,
preferred stakeholder fail to present fol
retirement in whole or in part the out
standing certificate Of stock, the shares
| so redeemed shall be cancelled on th'
books and the amount due thereon held
for the owner, subject to his order, OF
presentation and surrender or the out
standing certificate.
In the event OF the dissolution Of
liquidation of the corporation. the pa
value of all the preferred stock legal,
Issued and outstanding shall be paid t.
the holders thereof in full, with all un
paid dividends. before any payment shall
be made on the common stock.
The common stock legally issued and
outstanding shall be entitled to dividend
as ana when and to the extent declared
by the Board of Directors out OF the ne
profits or earned surplus after the pay
ment Of the agreed dividends on the pre-
ferred stock. and after the setting asid
Of such amount as may be required 10
the retirement Of any preferred stock a.
may be decided by the Board OF Direc
tors.
In the event Of the dissolution or liqui
dation Of the corporation after the pay
the payment in full of the par value o
all the preferred stock legally issued AM
outstanding, with all accumulated divi
dends thereon, the remainder or tn
assets of the corporation shall belong 4
and be paid and delivered to the holder
of the common stock.
Each share of the capital stock legal!
} issued and outstanding, both preferred
and common. S0dll Dc tnlllItu " Oh
vote in all elections and at all meeting
| of the stockholders, to be cast by tn
registered holder thereof or his duly con
stituted agent or proxy.
This corporation may increase or de
crease its capital stock in the manne
prescribed ~ law. The preferred cap
itaI stock may be increased TO One Hun
} dred Thousand Dollars ($1000OO.0O). Tn
} common capital stock may be Increases
to Two Hundred Thousand Dollar
(s2oo. oOO0o).
; The Board Of Directors may at an.
; time issue any unsubscribed stock upo
payment therefor In accordance with laS
/, to such person or persons as the Boar
may deem proper.
No transfer Of stock shall be bindin
on this corporation unless made upon 1t
books by the surrender Of the outstand
ing certificate properly endorsed by tn
registered owner or by his duly consti
; tuted agent or legal representative, an
, in accordance with such rules and regu
lations as the Board Of Directors ma
prescribe.
: ARTICLE VII. The business and af
fairs Of the corporation shall be manage
by, Board Of Eve f5) directors, VII
. shall be elected By the stockholders :
. the annual meeting. which shall be hei
on the second Monday Of September
each year. Each OF the directors sna
> avn AZ least one ehare of stock IN ri