The herald., 1922-04-20
CHARTER OF
GEORGE n MAGINNIS INC.


Louisiana, Parish of Orleans, City OF
New Orleans. BE it known that on this
twelfth day of the month of APRIL In
the year OF our Lord. one thousand nine
hundred and twenty two. and of the In
dependence of the Unitcd States or
America, the one hundred and forty
sixth, before me, ASAHEL WALKER
COOPER Notary Public duly COM
misSiOned and qualified in and for the
Parish of Orleans, State of Louisiana,
and in the presence of the witnesses
hereinafter named and Undersigned per
sonally came and appeared the several
persons whose names are hereuntO sub
scribed who severally declared that.
availng themselves of the provisions Of
| the general laws of the State of Louis
| lana for the organization of corporations.
and especially Act 26T of the Acts of
| 1914, they have cOvenanted and agreed,
and by these presents covenant agree
and bind themselves. as well as such
| persons as may hereafter become asso-
| ciated with them, to form and constitute
a corporation and body polite in law,
| and TO that end they state the follow
ing matters and things and execute and
adopt these articles of incorporation as
follows, to-wit:
ARTICLE l. The name of this corpor-
alton shall be GEORGE II. MAGINNIS,
INC.
ARTICLE III. The objects and pur-
poses for which this corporation is es-
| tablished and the nature of the business
to he carried on by il are declared and
specified to be- To act as agent for in
surance companies in soliciting and re-
ceiving applications for fire, casualty,
plate glass, boiler, elevator, accident
health, burglary. rent. marine. credit,
fidelity and surety bonds, and life in
surance. and all other kinds OF insur-
ance, the collection of premiums, and
doing such other business as may be
delegated to agents by such companies,
and to conduct general insurance
agency and insurance brokerage business.
| ARTICLE Ill The capital stock of
; this corporation is hereby fixed at the
sum of Ten Thousand Dollars (SlO,e0O.OO),
I to be divided into and represented by
One Hundred (l00D Shares of the par
value of One Hundred Dollars tS1O0O0)
each, which shall he paid for in cash
or may be issued for property actually
y received by the corporation, or for ser
. vices rendered The capital stock may he
inceased to the sum Of Twenty Thousand
Dollars (s2O,OO0.OO).
:. ARTICLE " No stock in this cor
] poration shall be sold. assigned OF trans
ferred other than by Inheritance, unless
Z and until the same shall have been first
p offered in writing to the other stock
p holders for the benefit of such stock
: holders as may desire to purchase tn"
t. same at the book value thereof, as or
the first day OF January last preceding
$ the date of the offer. Said offer shall
l.. be addressed to the Board of Directors
/. and ten days shall be allowed for the
8 acceptance of same in writing by any of
= the remaining stockholders who may be
willing to pay the book value for said
i stock so offered. as shown by the books
4 OF the corporation on the first day or
: January last preceding the date of such
offer. Each stockhOlder shall be priv
t. LEGGED to purchase the stock offered in
n the proportion that the number of shares
o owned by him at the time bears to the
4 number OF shares owned by the other
II stockholders who may desire to partici-
d pate in the purchase.
70 ARTICLE " The location OF the DOM
ii icile Of said corporation shall be In the
a. City Of New Orleans. in the Parish OF
Orleans, State of Louisiana.
It ARTICLE VI The period of duration
OF of said corporation shall be fifty (5O)
rs years.
Id ARTICLE VII. The Board Of Direc'
We tors OF said corporation shall be not Less
in than three nor more than seven. The
e. officers of said corporation shall be those
mt provided for by law and such other ON
IS GERS as may be provided for by the by
IT. laws. The names and postoffiee ad
dresses Of the directors of said cOrpor'
I'd alton who are selected to serve for the
o. first year or until their successors are
ed elected and qualified shall be as follows
George III. Maginnis. 1919 Palmer Ave
he nue., New Orleans: W. II. Maginnis. 164s
be Palmer Avenue. New Orleans; Edward
of Becker, Jr., 2404 st. Bernard Avenue
G. as President, W. u. Maginnis as Vice
President and Treasurer, and Edward
re- Becker, Jr, as Secretary. The office OF
ty Treasurer may be held by the Vice
nd President or the Secretary, as the BOARD
s. Of Directors may determine; but in thai
Mt event shall be termed Vice-President
nd Treasurer or Secretary Treasurer, as the
H. case may be. The offices and directors
nd of this corporation shall at all times b'
C. stockholders and should any officer oil
or director during his tenure of office ceas'
mt to be a stakeholder he shall ipso factt
r. cease to be an officer or director hereof
RS and the vacancy thus created shall b'
ks filled by the remaining members OF thu
ng Board from among the stockholders.
ey ARTICLE VIII. The names OF thu
all subscribers to these articles OF incor
Fir pOration and the number OF shares O
stock which each subscriber is to taxi
all in said corporation are as follows
KY George ii. Maginnis, "a shares, par value
oh $4,000; W. ID. Maginnis, II shares, pal
lss value 100000; Edward Becker, Jr.,
IT. share, par value $4,000. Each share o
,r- stock shall be entitled to one vote. Their
OF shall be no cumulative voting.
ny ARTICLE IX. The Board of Direc
Rte tors of said corporation are hereb!
lily vested with all the corporate powers o
DIV said corporation. including among othe
ale powers the following, viz The power &
JUS make, alter and amend bylaws for tn
government of said corporation; tn
Dr. power to borrow money, execute mort
or cages, issue notes or bonds; to sell o
ly, pledge the same, and generally to do nj
red things pertinent to or necessary for tn
ict objects and purposes OF said corpora
of, ton. or which are or may be permitte
pp- by the laws applicable to corporations
the the above recital or powers granted I
ose the Board OF Directors not being eS
i'd elusive, the intention being to vest th
of Board of Directors with all such otht
and further powers as may be prope
ith to accomplish the objects and purpose
Of of said corporation.
ac- ARTICLE Y. Stockholders meeting
of for the election of directors Of said col
of poration shall be held annually on n
second Monday Of January each yea
OK beginning with the year 1923 The Boar
er- of Directors as named in this charts
ach shall hold office until said second MOI
his day in January, 1923. or until their SUI
wn cessors are duly elected and qualihe
de- Failure to elect directors or to hold Q
avs annual meeting on the day specified
ire this charter will not dissolve the co
poration, but the directors then In Off
ma shall remain in office until their su
ion cessors are elected and installed.
use, ARTICLE XI. majority of the Boai
,ui- | Of Directors shall constitute quoru
it's for the transaction of all business
leld ARTICLE XII. All legal process shf
ing be served upon the President; or, in
.ors absence upon the Vice-President OF q
iers corporation.
airs Thus done and passed in my office
lilly the City of New Orleans. in the presen
in | of Rurt w Henry and Harriet Spickel