The herald. [volume] (New Orleans, La.) 1905-1953, 1922-09-28
CHARTER.

ing to the other holders through
the Board of Directors at price not
exceeding the book value thereof, and
the stockholders shall have an option
and first right to purchase all the shares
of stock to be thus disposed OF by the
death, resignation or otherwise Of any
of the stockholders Of the corporation.
and shall have period of ten days in
stock. Should the Board of Directors
or the stockholders dcclin" 10 purcha>,
the said stock, then the stakeholder or
stockholders who made the offer to sell
or otherwise dispose of this stock may
sell or otherwise dispose of it In any man
ner and at any price that he or they
may see fit. But each share Of stock Is
issued under the condition and under
standing that no stakeholder shall make
a sale or transfer of his stock in viola
tiOn of this provision. and such sale or
transfer if made shall be- void. and this
company shall he under no obligation
10 list said stock on its books or To re-
gard the holder of the certificate thereof.
ARTICLE VII-The corporate powers
of this corporation shall hc vested in and
exercised by a board of three directors,
two of whom shall constitute quorum
The directors of this corporation may
vote in person or by written proxy at any
of the meetings of the board Of directors
and the board of directors may delegate
any of its powers TO any officer "r off
GERS or any other representative of tn"
company by appropriate resolution to that
effect.
The first board of directors of this cor
pOratiOn shall be composed of the fol
lowing: Edward Alba, Oswald Alba,
Charles Alba. with officers follows
Edward Alba, president; Oswald Alba
vice president; Charles Alba, secretary
treasurer. and they shall serve until tn,
their successors are elected and qualified
The directors shall be elected annually,
the second Monday of January of each
year
Notice of such meeting shall be given
ten days prior to the date of the meet.
ing. in writing and sent To each stock
holder at his last known address.
Each stakeholder shall at such annual
meeting other meetings, general oil
special, be entitled in person or by proxy
10 one vote for each share of stock owned
by him.
Elections shall be held under such rules
and regulations as may from time to time
be determined by the board of directors
The directors when elected shall hold
office for one year or until their success.
SurS shall have been elected and qualihed
and failure to hold the annual meeting oi
StOCk FOLDERS or to elect annually the dl'
rectOrs shall not operate the forfeiture OF
this charter or any rights hereunder.
ARTICLE VIII-This charter or act OF
incorporation may be changed. modified
altered or amended by and with the con
sent of twO-thrds of all the stock present
at any meeting, general or. special held
| for that purpose: and such amendment
may he material or immaterial subject
only to limitations as may be by law pro
vided and this corporation shall have the
power to increase or decrease its capita
stock as herinbefOre set out, and any in
crease in capital stock in excess of the
amount named herein as the amount tC
which il may be increased, may be made
toto nj
stock.
ARTICLE IX-Notice of any and al
meetings referred to in this charter ol
| required by law, shall be given in thu
manner provided for giving notices IL
case of elections. unless the same shall
have been waived.
ARTICLE Kin case of dissolution
| liquidation or termination of this char
] ter, by limitation or otherwise, the ar
fairs of the corporation shall he hquldatet
I 10y one or more liquidatOrs elected 10y th'
/ stockholders, who may provide the mum
Der of said lquidatOrs, and vest then
| with such power and authority rs MAJ
| by law be permitted; fix the terms anC
| conditions upon which they shall serve
| and their compensation, and provide tina
in case of death or disability OF any ON
| of said HqiudatOrs, the remaining iqui
| dltOrS may fll the vacancy or continue
] to act on behalf of the corporation.
| ARTICLE XI-No stockholdpr shall
! be liable or responsible for any costs
| contracts debts or faults of the corpora
| ton, or of any of its officers, nor shall
any mere nfOrmality in organization
have the effect of rendering this charte
null and void. or of exposing any stock
holders to any liability beyond the un
J paid balance due on the stock held b!
him.
/ ARTICLE XII-The subscribers heret
have written opposite their names tn
number of shares subscribed by each o
| them. and their post office addresses, 81
| that this charter may serve as the sub
| scriptiOn list of the corporation; all o
which subscriptions are payable in tn
| manner and form set out herein.
| Thus done and passed at my office, II
| the city of New Orleans, on the day AM
in the month and year herein first abov
written and in the presence of VIM. Ma
son Smith. Jr., and Paul T.. ChaseZ. com
| petent witnesses, who have hereunt
| signed their names with the said ap
bearers and me, notary, after reading o
| the whole.
| Witnesses: VIM Mason Smith, Jr., Pau
| F.. ChaseZ.
| (ORIGINAL SIGNED)
names of subscribers Omitted.)
WILLIAM ]. GUSTE.
| Notary Public
Recorded in Parish of Orleans, NJ u
| Il. 1878. folio -.
\ true copy:
| (SeaD WILLIAM Il GI-STE