The herald., 1922-12-28
CHARTER OF YARG AUTOMOBILE
COMPANY INC.


Orleans. BE II known, that on this, the
fourteenth day of the month of December,
III the year Of our Lord. one thousand
nine hundred and twenty two, and of the
the Independence of the United States OF
America, the one hundred and forty
seventh. before me, Joseph Sinai, "A no
ned in and for the Parish OF Orleans
threin resting, personally came and APP
peared the several parties whose names
are herunto subscribed, who declared that,
ayailing themselves of the provisions of
the laws of the State of Louisiana rela-
tive TO the organization and formation of
corporations, and more particularly of
Act No. 261 of the General Assembly of
the State of Louisiana for the year 1914.
they have cOvenanted and agreed, and do
by these presents covenant and agree,
bind and obligate themselves, as well as
such other persons AS may hereafter be-
come associated with them, TO form and
constitute "A corporation and body polite
in law, for the objects and purposes, and
under the agreements, conditions and
stlpulatiOns hereinafter set forth, tO-wit:
ARTICLE THE name, style and title
OF this corporation shall be "1arg Auto
mobile Company, Inc, and under such
name and title, it shall have and enjoy
succession and existence for a period of
ninety nine years from date hereof. 1t
snail nave power and authority to con-
tract, sue and be sued, and to make and
use corporate seal and the same to
break and alter at pleasure; to hold, pur
chase sell, mortgage, hypothecate and
pledge property, real, personal and mixed,
ana To hold stock in any other company
or companies that may assist this cor
poratiOn i'll its objects and purposes;
make and issue bonds, notes and certifi
Gates or Indebtedness, and if desired to
secure same my mortgage, pledge or in
any other manner; to name, elect and ap-
point directors, managers, clerks and
other employees, and to make and estab-
lish such bylaws, rules and regulations
as may be found necessary or desirable
for the management of the business and
affairs of the corporation, and generally
to do all. every and any other matter and
thing necessary for the complete and
proper carrying on of its business.
ARTICLE 1.-THE domicile of this cor
poration shall be in the City of New Or
leans, State of Louisiana, where all cita-
tons or other legal process shall be
served upon the president or in his alb
sence upon any other officer of the cor
poratiOn.
ARTICLE III-The objects and pur-
poses for which this corporation is or
ganiZed and the nature of the business to
he carried on by it, are hereby declared
to be:
To engage in the business of purchas-
ing, selling, trading and exchanging new
and used automobiles; to engage in the
business of buying, selling and dis
posing of automobile parts and Access
series of every kind and character. and to
maintain a service station and garage;
and generally to do and perform any act
or thlng or matter necessary, convenient
Va RANPNA the
above named objects and purposes
ARTICLE IV-The capital stock of this
corporation shall be five thousand dollars
divided into and represented by fifty
dollars each. which shall all be common
stock fully paid and non assessable.
said stock shall be paid for in cash, or
the same may be issued at not less than
par Tor labor done or services rendered
TO the said corporation, or for property
or rights actually received by this cor
poration.
No stakeholder shall sell or otherwise
dispose of his stock, without first offer
ing IL in writing TO the body of stock |
holders through the board of directors,
shall have fifteen days. within which TO
accept or reject such offer before same
may be offered and sold on the public
market.
The capital stock of this corporation
may be increased to the sum of one hun
dred thousand dollars, or any part there |
OF; as is provided by law.
Inc corporation shall be and become a
going concern as soon fifty per cent OF
It's capital stock shall have been sub
scribed.
Of this corporation shall be vested in and
by a board of directors, to be |
composed of three stockholders, a ma !
jority of whom shall constitute a quorum |
Tor the transaction of business.
The board of directors shall be elected |
annually, on the Tuesday after the first |
Monday in January in each year, at
meeting of stockholders to be held on
that day. All elections shall be by ballot |
ana each stakeholder shall be entitled to |
one vote for each share of stock standing |
ton; this vote to be cast in person or by |
written proxy. Failure to elect the board |
OF directors as herein provided shall not |
work a forfeiture of this charter, but the |
old board of directors shall remain in Of |
nee until their successors are duly elected |
and qualified. Any director who is not |
able to attend any meeting Of the board Of |
writing, another member of the board to |
act as his proxy.
The officers. of this corporation shall
secretary and a treasurer; any two Of the |
offices may be combined excepting that |
Of president; the secretary need not be |
q stockholder of the corporation.
The first board of directors to serve |
until the Tuesday after the first Monday |
in January, 1924 or until their success |
s ss or elected and qualified, shall con-
ice address is No. 200 Palmer Avenue, |
New Orleans, Louisiana; James A Forbis |
whose post Office address is Bienville
George E. Knoop. whose post Office ad,
dress is No. no s. Franklin Street. New |
Orleans, Louisiana. of which Herbert Ii. |
Knen shall be president, and George E.
hnoop, snail be secretary and treasurer, |
and James c. Forbes, vice president
Any vacancy in the board of directors
may De nileu Dy the remaining directors /
from among the stockholders.
The board of directors shall have the |
power and authority. by proper resolu- |
tons, to sell, ALLEVIATE, lease, dispose of. |
mortgage, hypothecate and pledge any |
kind OF property owned by the CORPORA
ton, either in whole or in part upon such |
terms and conditions as in its Judgment |
may be deemed proper; to purchase, lease, |
and otherwise acquire any property for |
the corporation, either for cash or upon |
terms; to make loans, borrow money, is |
sue notes and other obligations the same |
In manner permitted by law; and shall |
have the right to appoint and dismiss |
such clerks, managers, statesmen and other |
employees Of the corporation as in its |
Judgment may be deemed necessary; in |
fact, 1t shall have and exercise ali the |
powers conferred by Act No. 267 Of 1914. |
The tenure of office of all employees of
ure of the board.
ARTICLE vI-This act Of incorpora-
ton may be amended, altered or modified
or the corporation dissolved at any time
by complying with the provision of the
laws OF this state.
ARTICLE VlI-..o stockholer shall ever
be held liable for the contracts or faults
OF this corporation, nor shall any mere in
formal1ty in its organization have the eff |
feet OF rendering this charter null or of
exposing stakeholder to any liability be-
yond the unpaid balance due on the shares
OF stock subscribed for by him.
ARTICLE VIII-At the expiration of
this charter, or the earlier dissolution of
thls corporation. its affairs shall be liqui-
dated by two commissioners to be elected
by the stockholders, in accordance with
invested with full power and authority
to sell any and all assets and nronertv