The herald., 1922-11-09
CHARTER

|
purposes and under the articles and stpu-
| lations following, tO-wit
| ARTICLE 1.-The name of this cOrpO-
| ration shall be the Bahama Investment
| Company, incorporated, and under its
| said corporate name il shall have power
and authority to have and enjoy corporate
existence and succession for the full term
and period of ninety nine 500 years
| from and after the date hereof; to con
| tract, sue and be sued; to make and use
! or alter at pleasure; to hold, receive
| lease. purchase and convey, well rs
mortgage and hypothecate property, real
personal and mixed, as well corporal
| and incOrporeal; to own and hold stocks
and bonds of other corporations; to name
| and appoint such managers, agents, di
| rectOrs and officers as its business, in
| terests or convenience may require; auc
| to make and establish, as vel as alter
and amend from time to time such by
| laws, rules and regulations for the proper
ccEduct, management and rcSul3tio OF
The affairs of said corporation as may be
I nee, 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 eta
tons or other legal process shall be
served upon the president Of the corpo-
ration. or in the event of his absence
upon the vice-president.
ARTICLE III-The objects and pur-
poses for which this corporation is or
ganzed and the business to be carried on
by it 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 Sc
curities Of every kind and character, and
generally to do and perform any and all
things necessary, incidental or appertain-
| ing tn the buSinpSS aforesaid. and also
| 20 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
seventy-hye thousand ($15,OO0.OO) dollars,
divided into seven hundred and fifty (1J0)
shares of the par value of one hundred
| t$lO0.00) dollars each. Said stock shall
be paid for in cash at such times, in such
amounts and after such notice to the sub
scribers 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 Q5J days
written notice to the corporation of his
desire to sell. The corporation upon re-
ceiving su'h written notice. shall allow
the other stockholders, after notice mailed
TO each Of them at his last known ad-
dress, an opportunity to purchase such
stock at its book value. within said delay
OF 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 90 stockholders three go of whom
snail constitute quorum for the trans
action OF business.
Any varancies occurring among the di-
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
t Itch vi Of this Charter, the directors of
Williams. No. 80 Newcomb boulevard,
New Orleans, La; Mrs. Maud II. Billet,
No. 80 Newcomb Boulevard. New Or
leans. La; Adolph C; Billet. No. 80
Henry w. Lemoine, No 80 Newcomb
Boulevard, New Orleans, La. A. w.
Hyatt, No. 407 Camp Street, New Orleans,
lie.
a president, a vice-president, and a secre-
tary treasurer, who shall be elected by
the board of directors from among their
number nun at the first meeting of the board
oitci It's titCtlOn. OlIlf AFTER inc prSf
election as provided in 1aticIe vi of this
charter, the officers his CORPORATION
shall be the following{A W. Hyatt,
president; Adolph c. Billet vice presi-
aent Henry w. Lemons. secretary treas
ARTICLE Won the fourth Monday of
June, 1923, and annually thereafter on the
fourth Monday of June of each and every
year, a meeting of the stockholders of
this corporation shall be held at its domi-
Gle Tor 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
be held in accordance with, and in the
manner provided by the bylaws of the
corporation.
ARTICLE vII-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 yIII-Whenever this corpo-
ration may be dissolved either by limi-
tation, or from any other cause, its af-
fairs shall be liquidated by three iquidat-
ing commissioners, to be selected by the
stockholders from among their number at
special meeting convened for that pur-
pose, after notice mailed to each stock
holder to his last known address. Mt 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 commissioners. 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
corporation shall ever be held liable or
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-
than as above provided.
ARTICLE X-The subscribers hereto.
have respectively written opposite their
respective names and addresses, the
amount Of the capital stock for which they
have subscribed, so that this act Of in
corporation may serve also as the origi-
nal subscription list of the corporation.
Thus done and passed, in my office, at
the City Of New Orleans, Louisiana, on
the day, month and year hereinabove writ
ten, in the presence of Lila L. Dubuch