The herald. [volume] (New Orleans, La.) 1905-1953, 1922-06-08
CHARTER.

lana for the organization of corporations,
and especially Act 26I of the Acts OF
| 1914, they have cOvenanted ana agreed
and by these presents covenant, agree
| and bind themselves, as well as such
| persons as may hereafter become assoc
Ciated with them, TO form and constitute
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. MAGlNNlS,
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 it 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 (SlOOOOVO),
TO be divided into and represented by
One Hundred Q00) Shares Of the par
value of One Hundred Dollars HlOOOo)
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 ne
| inceased to the sum OF Twenty Thousand
| Dollars (S20,000.00).
ARTICLE Nv. No stock in this cor
poration shall be sold. assigned or trans
ferred other than by Inheritance, unless
| and until the same shall have been nrst
| offered in writing to the other stock
holders for the benefit Of such stock
5 holders as may desire to purchase the
2 same at the book value thereof, as or
the first day Of January last preceding
the date of the offer. Said offer shall
be addressed to the Board Of Directors
e and ten days shall be allowed for the
acceptance of same In writing by any OF
: the remaining stockholders who may De
n willing to pay the book value for SAID
= stock so offered as shown by the books
5 Of the corporation on the hrst day OF
e January last preceding the date OF such
u u offer Each stakeholder shall be priv
u ileged to purchase the stock offered In
]. the proportion that the number Of shares
u owned by him at the time bears to the
= | number Of shares owned by the other
a stockholders who may desire 10 partic'-
~ pate in the purchase.
10 ARTICLE V The location OF the DOM
40 icile of said corporation shall be In the
I'd City Of New Orleans, in the Parish or
ne Orleans, State of Louisiana.
he ARTICLE VI The period OF duration
he of said corporation shall be fifty (oo)
he years.
rd ARTICLE VII. The Board OF Dlrec-
til tors Of said corporation shall be not less
IS than three nor more than seven. The
er officers of said corporation shall be those
Ill provided for by law and such other ofh-
X GERS as may be provided for by the by
or laws The names and postOffce adj
at dresses Of the directors Of said corpor-
OF alton who selected to serve for the
ng first year or until their successors are
a elected and qualified shall be as follows:
IL George II. Maginnis. 1919 Palmer Ave
Ie nue.. New Orleans: W. D. Maginnis; N4s
80 Palmer Avenue, New Orleans: Edward
Rs Becker, Jr., 24O4 st. Bernard Avenue.
as New Orleans with George III. Maginnis
ol as President, W. d. Maginnis as Vice.
President and Treasurer. and Edward
On Becker, Jr., as Secretary; The ofhce OF
on on Treasurer may be held by the p Vice
IN IN of Directors may determine; but In the
II. event shall be termed Vice-President
q, Treasurer or Secretary Treasurer, as th$
IT. | case may be. The offices and directors
he | of this corporation shall at all times be
,le | stockholders and should any officer or
K director during his tenure OF office cease
nj TO be n stakeholder he shall ipso facto
at | cease to be an officer or director hereof,
us and the vacancy thus created shall De
ng filed by the remaining members or the
Board from among the stockholders.
all ARTICLE VIII. The names OF the
IT'S subscribers to these articles OF incor-
i'm poration and the number Of shares OF
nv stock which each subscriber Is to take
'or in said corporation are as follows:
he George III. Maginnis, "a shares, par value
ng S34OOOO: w ID. Maginnis, Is shares. par
he value $4,000; Edward Becker, Jr, 1
share. par value $4,000 Each share or
"a stock shall be entitled to one vote There
or shall be no cumulative voting
be ARTICLE TX. The Board OF Direc-
of tors Of said corporation are hereby
lat vested with all the corporate powers OF
he said corporation. including among other
powers the following, viz: The power 70
at make alter and amend bylaws for the
is government OF said corporation; the
the power to borrow money, execute mort
zen cages, issue notes or bonds; to sell or
OF pledge the same, and generally to do all
or things pertinent to or necessary for the
rs, objects and purposes Of said corpora
l ai, ton. or which are or may be permitted
i .a1 by the laws applicable to corporations
'e' the above recital Of powers granted &c
A.. the Board Of Directors not being ex'
Is elusive, the intention being to vest tins
i've | Board Of Directors with all such othel
for and further powers as may De proper
to accomplish the objects and purposes
in Of said corporation.
the ARTICLE x Stockholders meeting
Ten. for the election Of directors OF said cor
uis poration shall be held annually on th'
mes beginning with the year 1923. The Boar'
Try, of Directors as named In this charte
shall hold office until said second Mon
day in January. 1929 or until their sue
20 cessors are duly elected and qualihed
Failure to elect directors or to hold al
I'D annual meeting the day specified II
this charter will not dissolve the cor
:; poration. but the directors then In ofnc
nc shall remain in office until their sue
Drt- cessors are elected and Installed.
ins, ARTICLE XI. majority Of the Boar
70 Of Directors shall constitute quorum
,os for the transaction Of all business.
an ARTICLE XII. All legal process shal
:" be served upon the President: or. In hi
absence. upon the Vice-President OF Tn
r. corporation.
der Thus done and passed In my office i
opy the City Of New Orleans. In the presenc
my Of Burt w. Henry and Harriet Spicker'
competent witnesses, both OF this city
r. who have hereunto signed their name
,lic. with the said appearers and me, Notary
on the date and day first above writer
. and the subscribers do hereby subscrib
for and agree to pay for the number Q
shares set opposite their several names
: (Names Of subscribers omitted)
vi Witnesses
OF BURT W. HENRY.
TINS HARRIET SPICKERT.
In A. W. COOPER
nine Notarv puhlie