The herald. [volume] (New Orleans, La.) 1905-1953, 1922-03-09
CHARTER.

1 anu CdnCelleu as herein
provided, and is still outstanding, shall
share, ratably with the common stock,
IN the distribution of the assets of the
| corporation.
TO increase its capital stock to any
amount, not exceeding Two Hundred
Thousand Dollars, in the manner here
| after provided.
| ARTICLE Nv. All of the stock of this
corporation has been subscribed and paid
| Tor at the time of the passing of this
act or incorporation, and this corporation
becomes going coAcern Immediately
upon the completion of its organization.
| ARTICLE V. All of the corporate pow
ers or this corporation shall be vested in
and exercised by a Board of five 90 direc-
| Tors, TO be composed of common stock
| holders, majority of whom shall con-
stitute quorum for the transaction of
| all business. The Board of Directors
snail have full power and authority to
make all contracts, purchases and sales,
! ana ADOPT all bylaws, rules and regula-
tons for the government of the business
ana affairs of the company. and alter
| amend and change the same at pleasure;
| appoint, hire and discharge all officers
and generally to do and perform ali
Things necessary in the transaction of
| the business and affairs of the company
Any vacancy occurring in said Board
| shall be filled by the remaining directors
from among the stockholders.
The first Board of Directors Of this
| corporation shall consist of Achille |
Picard, Henry NJ. Picard, S. Arthur Buck
master, Joseph X. Picard, Edward de
| Boer, with Achille l. Picard as Presi-
dent; Henry NJ. Picard, President,
and Joseph r. Picard. Secretary Trea s.
urer, who shall hold their offices until
! the second Monday in January, 1923. or
until their successors are duly elected
| and qualified.
On the second Monday in January,
1923, and annually thereafter, an election
/ GhnI hn hold ~ o
| OF the company, under the auspices of
| three (3l commissioners to be appointed
by the President, and the directors then
| elected shall take their seats Immediately
| ana shall hold office until their success
| sorS are duly elected and qualified.
Each Board shall elect its own officers
| which shall consist of a President, Vice
President and Secretary Treasurer. All
corporate elections shall be by ballot and
majority of the votes cast shall elect !;
| each share of the common stock shall be
entitled to one vote, either in person or
by proxy. Written notice of election
J shall be given to each holder of common
/ stock by the secretarytreasurer at least
| hfteen l5l days prior to election.
| ARTICLE VI. This act of iucorpora-
| ton may be changed, modified or amend
| ed. or the capital stock increased or de-
creased, by and with the consent Of two
| thirds (2-3) Of all of the common stock
a change in the objects and purposes
may be made only by vote of all of
may be dissolved by a vote of the hold
ers of two-thirds (2-3) of the common
stock at a meeting called for that pur-
pose.
ARTICLE VII. Whenever this corpor-
alton is dissolved, either by limitation
| Of its charter, or from any cause, its
\ affairs shall be liquidated by three COM
missioners to be appointed from among
| the holders of common stock at a meet
ing of the stockholders convened for that
purpose after fifteen (15) days prior
notice shall have been given by the Sec
rotary to each stakeholder Said commits
sioners shall remain in office until the
affairs of said corporation shall have been
| fully liquidated. In case of the death
Of any commissioner, the survivors shall
| continue to act.
| ARTICLE VIII. No stakeholder Of
this corporation shall ever be held liable
or responsible for the contracts or faults
! thereof In any further sum than the I'M
paid balance due to the corporation on
mere informality in organization have the
effect Of rendering this charter null. nor
Of exposing stakeholder to any liability
| beyond the amount of his stock.
Thus done and passed in my notarial
office in the City Of New Orleans afore-
| said, in the presence of Charles A. Du-
champ and o. c. Brandenburg, competent
witnesses of lawful age and residing in
this city, who hereunto subscribed their
names, together with said parties and
me. Notary, on the day and date set forth
| In the caption hereof.
| (Original Signed)
/ Henry NJ. Picard, Gonzales, La, 10
| shares common; Joseph r. Picard, Dutch
| town, La, 10 shares common; s. A. Buck
master, per A. /. Picard, New Orleans,
La, 1 share common; Ed De Boer per
| A. /. Picard, Shreveport, La, shares
common; Achille I. Picard, Gonzales, La,
Al shares common, 1000 shares preferred.
| Witnesses:
| CHAS. A. DUCHAMP,
| o. c. BRANDENBURG.
| EDOUARD f. HENRIQUES,
| Notary Public.
/, the undersigned Recorder of Mort
| cages in and for the Parish of Orleans,
State Of Louisiana, do hereby certify that
the above and foregoing act of incorpor-
alton of the PICARD CONSTRUCTION
CO., INC, was this day duly recorded in
my office in book 1898. folio
| New Orleans, Jan. "a. 1922.
| (Signed) ROBT. SCOTT,
by. r.
A true copy Of the original act on file
| in my office.
| EDOUARD f. HENRIQUBS.
Notary Public.
| Feb. 2-Mch. o
| nR