The herald., 1922-05-04
CHARTER.

and bind themselves as Well as such
persons rs may hereafter become aSSo-
ciatcd with them. to form and constitute
a corporation and body polite in law,
and to that end they state IN" follow
ing matters and things and execute and
adopt these articles of incorporation as
follows tO-wit.
ARTICLE l. The name Of this curpor-
alton shall he 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 10y il are declared and
specified to be: To act a. 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
surancc. 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 n 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 (SlOOOOOO),
to be divided into and represented by
One Hundred GOOb Shares of the par
value of One Hundred Dollars tSlOOOO)
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 he
inceased to the sum OF Twenty Thousand
Dollars (S2O,0OO.00).
ARTICLE " 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 hrst
offered in writing to the other stock
holders for the benefit of such stock
holders as may desire to purchase the
same at the book value thereof, as or
the first day Of January last preceding
the date of the offer. Said oher shall
be addressed to the Board of Directors
and ten days shall be allowed for the
! acceptance of same in writing by any or
| the remaining stockholders who may De
willing to pay the book value for said
| stock so offered. as shown by the books
| Of the corporation on the first day OF
| January last preceding the date OF such
| offer. Each stakeholder shall be priv
| ileged to purchase the stock onered IN
| the proportion that the number or shares
| owned by him at the time bears to the
number OF shares owned by the other
stockholders who may desire to partici-
| pate in the purchase.
| ARTICLE V The location of the DOM
| icile of said corporation shall be In the
| City of New Orleans. in the Parish OF
Orleans. State of Louisiana
| ARTICLE VI. The period of duration
OF said corporation shall be fifty 500
years.
L
| than three nor more than seven. The
| officers Of said corporation shall be those
provided for by law and such other ofh-
| GERS as may be provided for by the by
laws. The names and postofhce ad-
| dresses OF the directors OF said corpor-
| alton who are selected to serve for the
first year or until their successors are
elected and qualified shall be as follows:
George II. Maginnis. 1649 Palmer Ave-
| nue. New Orleans: W. II. Maginnis, 1649
| Dal,
Becker. Jr., 24O4 st. Bernard Avenue.
New Orleans, with George ii. Maginnis
| as President. W. II. Magnnis as vice
President and Treasurer, and Edward
Becker, Jr, as Secretary. The office OF
Treasurer may be held by the Vice
President or the Secretary. as the Board
of Directors may determine: but In that
event shall be termed Vice President
Treasurer or Secretary-Treasurer, as the
case may be. The offices and directors
of this corporation shall at all times be
stockholders. and should any officer or
director during his tenure OF ofhce cease
to be a stakeholder he shall ipso facto
cease to be an officer or director hereor'
| and the vacancy thus created shall be
filed by the remaining members Of the
: Board from among the stockholders.
ARTICLE VIII. The names OF the
subscribers to these articles OF incor-
poration and the number OF shares OF
| stock which each subscriber is to take
, in said corporation are as follows
! George III. Maginnis. "a shdres. par value
$4,000: W. ID. Maginnis. 10 shares, par
value sl5OO0O: Edward Becker, Jr,
share. par value $4,000. Each share OF
stock shall be entitled to one vote. There
shall be no cumulative voting.
| ARTICLE TX. The Board of Direc-
: tors of said corporation are hereby
, vested with all the corporate powers o,
said corporation. including among otheI
q powers the following, viz: The power tc
q make. alter and amend bylaws for the
: | government of said corporation; tht
power to borrow money. execute mort
I | cages, issue notes or bonds: to sell oil
$ pledge the same. and generally to do nj
? | things pertinent to or necessary for th'
/ objects and purposes of said corpora
II ton. or which are or may be permitted
s by the laws applicable to corporations
n the above recital of powers granted u
V the Board of Directors not being ex
r elusive, the intention being to vest tn
Q Board of Directors with all such othe
g and further powers as may be prope
e to accomplish the objects and purpose
Of said corporation.
= ARTICLE Y. Stockholders meeting
IT for the election Of directors Of said cor
e poration shall be held annually on tn
II second Monday OF January each year
II beginning with the year 1873. the boar
= Of Directors as named IN TINS charte
a shall hold office until said second Mon
II day in January. 1923. or until their sue
= cessors are duly elected and qualified
u Failure to elect directors or to hold q
u annual meeting on the day specified u
:. this charter will not dissolve the cor
poration but the directors then In offc
II shall remain in office until their sue
a cessors are elected and installed.
"A ARTICLE XI A majority Of the Boar
Of Directors shall constitute a quorur
,e for the transaction Of all business.
rs ARTICLE XII. All legal process sha
re be served upon the President: or. In hi
n absence upon the Vice-President OF tn
corporation.
in Thus done and passed in my office
he the City Of New Orleans. in the presenC
n, Of Burt w. Henry and Harriet Spicker
Is competent witnesses. both OF this cit!
IN who have hereunto signed their name
Is with the said appearers and me, Notar!
y on the date and day first above writer
and the subscribers do hereby subscrih
M for and agree to pay for the number Z
~ shares set opposite their several name
Names Of subscribers omitted)
Witnesses:
BURT W. HENRY
10 HARRIET SPICKERT.
e. e, A. W. COOPER.
. Notary Public
al I, the undersigned Recorder Of Nor
A. cages in and for the Parish Of Orlean
as State Of Louisiana. do hereby certii
in that the above and foregoing act Of q