The herald., 1922-11-23
CHARTER.

Louisiana, Parish OF orleans, therein re-
siding. and in the presence OF the wit
nesses hereinafter named and undersigned.
| personally came and appeared: The sew
| eral persons whose names are hereunto
subscribed. who severally declared that:
| ayailing themselves of the provisions OF
the laws of the State Of Louisiana. in such
| cases made and provided. they have CO.
venanted and agreed aud do by these
| presents covenant, agree and bind them
| selves, as well as all such persons as may
I hereafter become associated with them to
| form a corporation for the objects and
purposes and under the articles and stipu-
| lations following to-wit:
| ARTICLE THE name of this esrpo
ration shall be the Bahama Investment
| Company, Incorporated, and under its
| sand corporate name it shall have power
and authority to have and enjoy corporate
! existence and succession for the full term
| and period of ninety nine 1907 years
| from and after the date hereof to con
J tract, sue and be sued; to make and use
! a corporate seal, and the same to break
| or alter ut pleasure; to hold, receive,
| lease, purchase and convey, as well as
1 mortgage and hypOthecate property, real.
! personal and mixed, as well as corporal
1 ana incOrpOreal; to own and hold stocks
and bonds of other corporations; to name
J and appoint such managers, agents, di
: rectorS and officers as its business, in
tereSts or convenience may require; aud
| TO mike and establish, as vCi as alter
! and amend from time to time such by
laws. rules and regulations for the proper
| cCtduct, management and rcgult tion OF
/, the affairs nf said corporation as may be
nec' Ssary and proper.
ARTICLE 1.-THE domicile of this cor
portation shall be in the City of New Or
| leans, State of Louisiana, and all cita-
tions or other legal process shall be
| served upon the president of the corpo-
| ration. or in the event of his absence,
upon the yice-presdent.
| ARTICLE III-The objects and pur-
poses for which this corporation is or
ganized and the business to be carried on
by 1t are hereby declared to be:
To acquire in any manner, to hold and
own, to sell. and otherwise dispose of, to
| lease, to mortgage, pledge, hypothecate.
and otherwise cucumber, and generally to
deal in. real estate stocks, bonds mort
cages, notes, commercial paper and
curities of every kind and character, and
| generally to do and perform any and all
| things necessary, incidental or appertain-
ing to the business aforesaid; and also
TO have and exercise such rights and pow
ers as are usually granted corporations
| of like character.
ARTICLE IV-The capital stock Of this
corporation is hereby fixed at the sum of
| seyenty-tve thousand 1915, OO0.OO) dollars,
| divided into seven hundred and fifty (7J0)
| shares of the par value of one hundred
| tSlOOOO) dollars each. Said stock shall
be paid for In cash at such times, in such
amounts and after such notice to the sub
| scr1bers as may be fixed by the board of
directors, unless otherwise provided by
law, or the same may be issued at not
less than par for labor done, or for CAPT
| tai stock In other corporations, or for
| property actually received by the corpo-
ration as provided by law.
| No stakeholder IN this corporation shall
sell all or any part of his stock therein
without first giving fifteen Q5) days
written notice to the corporation OF his
| desire to sell. The corporation upon re-
| cei'ing su'h written notice, shall allow
the other stockholders, after notice mailed
1 a Sf nd
| dress, an opportunity to purchase such
stock at its book value, within said delay
or hfteen days, In proportion to their re-
spective holdings of stock in the corpora
| ton.
| ARTICLE N-The business and affairs
OF this corporation shall be managed by,
and all Of the corporate powers Of this
| corporation shall be vested In and ex-
ercised by board of directors, composed
Of five (5) stockholders, three 90 Of whom
shall constitute a quorum for the trans
action Of business.
| Any yarancies occurring among the d.
! rectors or officers of the corporation shall
be filled by election for the unexpired
term by the remaining directors.
Until the election provided for in Ar
ticle vi Of this charter, the directors of
the .e,,, CORPORATION shall be: Mrs; 3. II.
New Orleans, La; Mrs. Maud H. Billet,
| No. 30 Newcomb Boulevard, New Or
leans, La; Adolph c. Billet. No. 80
Newcomb Boulevard, New Orleans. La;
Henry W. Lemoine. No. 80 Newcomb
/ boulevard, New Orleans, La; A. W.
Hyatt, No. 407 Camp Street, New Orleans,
Ia.
The officers of the corporation shall be
president, vice-president and a secre
| tary treasurer, who shall be elected by
the board Of directors from among their
number at the first meeting Of the board
neld after its election. Until after the FIRST
| election as provided In Article vi of this
| charter. the officers 0f this
shall be the following: A. w. Hyatt,
president; Adolph C. Billet, vice presi-
dent; Henry W. Lemoine, secretary treas
| urer.
ARTICLE Won the fourth Monday OF
| June, 1923, and annually thereafter, on the
fourth Monday Of June of each and every
year, meeting of the stockholders Of
this corporation shall be held at its domi-
Gle for the purpose Of electing directors
| for the ensuing year. The failure, from
| any cause whatsoever, to hold the annual
meeting Of stockholders, or the failure to
| elect directors at said meeting, shall not
dissolve this corporation. but the direc-
| tors and officers then In Office shall re-
| main In office until their successors shall
have been duly elected, qualified and in
| stalled.
Special meetings Of the stockholders
may be called in the manner provided by
law, and all stockholders meetings shall
J be held In accordance with, and in the
manner provided by the bylaws Of the
corporation.
ARTICLE yIJ-This charter may be
| amended, and the capital stock of this
corporation may be increased or decreased,
| or this corporation may be dissolved, in
the method and manner provided by law.
| ARTICLE VIII-Whenever this corpo-
| ration may be dissolved either by limi-
| tation, or from any other cause, its az
fairs shall be liquidated by three liquidat-
4 ing commissioners, to be selected by the
| stockholders from among their number at
| a special meeting convened for that pur-
| pose, after notice mailed to each stock
holder to his last known address at least
| thirty days prior to said meeting. The
majority Of the stockholders voting at
! such election shall be requisite to elect
| said liQuidating commissioners, and the
stockholders at the same time. by a ma
jority of the stock voting at such election
shall be authorized to fix the fees to be
| paid said liquidating commis sioners Said
| liquidating commissioners shall remain in
| office until the affairs Of the corporation
shall have been fully liquidated, and in
| case Of vacancy, or vacancies of one or
| more of said commissioners, the vacancy
| or vacancies shall be filed by the remain
ing commissioners from among the stock
holders.
ARTICLE IX-No stakeholder Of this
| responsible for the contracts or faults of
this corporation, in any further sum than
| the unpaid balance Of stock for which he
has subscribed, nor shall any mere in
formality In organization have the effect
| Of rendering this charter null or of ex-
posing stockholders to any liability other
| than above DrOyfdQd