The herald. [volume] (New Orleans, La.) 1905-1953, 1922-04-27
CHARTER OF
GEORGE H. MAGINNIS, INC.

United States of America. State OF
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-five, and of the In
dependence Of the Emitted States of
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 hcreunto sub
! Scrihed, who severally declared that,
! availing themselves of the provisions Of
! the general laws of the State of Louis
| lana for the organization of corporations,
! and especially Act pa OF the Acts of
! 1914, they have Covcnanted and agreed,
| and by these presents covenant agree
and bind themselves, as well such
| persons as may hereafter become assoc
| ciated with them, to form and constitute
| n 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 I. The name OF this corpor-
alton shall be GEORGE III. MAGINNIS,
INC.
ARTICLE II. The objects and pur-
poses for which this corporation is es-
tablished and the nature of the business
to be 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.
Il Il ina raE On
agency and insurance brokerage business.
| ARTICLE III. The capital stock of
this corporation is hereby fixed at the
sum of Ten Thousand Dollars ($l0.OOO.OO),
to be divided into and represented by
One Hundred 0O0) Shares of the par
value of One Hundred Dollars tSlOCOO)
EACH which shall be paid for in cash
or may be issued for property actually
received by the corporation, or for ser
vices rendered. The capital stock may be
inceased to the sum of Twenty Thousand
Dollars $50, 0000O).
ARTICLE w. No stock in this cor
: poraton shall be sold, assigned or trans
+ ferred other than by inheritance. unless
and until the same shall have been first
offered in writing to the other stock
holders for the benefit of such stock
> holders may desire to purchase the
/ same at the book value thereof, as OF
the first day Of January last preceding
the date of the offer. Said offer shall
, be addressed to the Board of Directors
and ten days shall be allowed for the
: acceptance of same in writing by any OF
the remaining stockholders who may be
| willing to pay the book value for said
stock so offered, as shown by the books
5 of the corporation on the first day OF
5 January last preceding the date of such
V offer. Each stockhoder shall be priv
| LEGGED to purchase the stock offered In
r the proportion that the number of shares
Q owned by him at the time bears to the
4 number of shares owned by the other
Q stockholders who may desire to partiei'
= pate in the purchase.
n ARTICLE V. The location of the dom
: icile of said corporation shall be in tbs
City of New Orleans. in the Parish Of
: Orleans State of Louisiana.
'e ARTICLE VI The period of duration
IT of said corporation shall be fifty go
N years.
< ARTICLE VII. The Board of Direc
IL tors of said corporation shall be not les
,e than three nor more than seven. TIT
II officers of said corporation shall be thos
" provided for by law and such other ON
, GERS as may be provided for by the by
>. laws The names and pOstoffce ad
" dresses of the directors of said corpor
y alton who are selected to serve for thu
" first wear or until their successors arr
= elected and qualified shall be as follows
Il George III. Maginnis. 1919 Palmer Ave
>. nue. New Orleans; W. ID. Maginnis. 164!
IS Palmer Avenue, New Orleans; Edward
q Becker, Jr, 24O4 st. Bernard Avenue
|
> as President, w. ID. Maginnis as Vice
l. President and Treasurer, and Edward
e Becker, Jr, as Secretary. The office o.
y Treasurer may be held by the Vice
l. President or the Secretary, as the Boart
n of Directors may determine: but in tina
l. event shall be termed Vice-President
IS Treasurer or Secretary Treasurer, as thu
re case may be. The offices and directors
n of this corporation shall at all times b.
n stockholders and should any officer OF
dnrin 10 nf
u to be n stakeholder he shall ipso factt
= cease to be an officer or director hereof
a and the vacancy thus created shall b'
r. filed by the remaining members Of thu
- Board from among the stockholders.
70 ARTICLE VIII. The names of thu
u subscribers to these articles of incOr
,e poration and the number of shares o.
10 stock which each subscriber is to taxi
Ie in said corporation are as follows
10 George ii. Maginnis, "a shares, par valu'
d $4,000; w. ID. Maginnis, 10 shares, pa
il value S15O0O0 Edward Becker, Jr.,
$ share, par value $4,000. Each share o.
n stock shall be entitled to one vote. Their
II shall be no cumulative voting.
< ARTICLE TX. The Board of Direc
'r tors of said corporation are hereb,
1t vested with all the corporate powers o
d said corporation, including among othe
q powers the following, viz: The power 4
l. make, alter and amend bylaws for tn
J. government of said corporations; tn
ie power to borrow money, execute mort
: cages. issue notes or bonds: to sell o
- pledge the same, and generally to do nj
:, | things pertinent to or necessary for tb
n, objects and purposes of said corpora
ton, or which are or may be permitted
m by the laws applicable TO corporations
n the above recital Of powers granted t
IN the Board of Directors not being ex
NJ elusive, the intention being to vest tn
" Board of Directors with all such othe
Of and further powers as may be prope
r to accomplish the objects and purpose
ne of said corporation.
lie ARTICLE Y. Stockholders meeting
< for the election of directors OF said cor
l. poration shall be held annually on tn
at second Monday OF January each year
Us beginning with the year 1923. The Boar
* of Directors as named in this charte
shall hold office until said second Mon
III day in January, 1923, until their sue
Us cessors are duly elected and qualified
III Failure to elect directors or to hold a
~ annual meeting on the day specified i
Ua this charter will not dissolve the cor
'o poration. but the directors then In offc
he shall remain in office until their sue
cessors are elected and installed.
A. ARTICLE XI. A majority Of the Boar
or of Directors shall constitute a quorur
be for the transaction Of all business
of ARTICLE XII. All legal process sha
at be served upon the President; or, In HI
he absence, upon the Vice-President Of th
a corporation.
at Thus done and passed in my office