The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-10
CHARTER.

of this corporation shall consist of 300
shares of the par value Of $4,000 each.
1t shall be represented by certificates,
shall be full paid and non assessable
when issued, shall be issued only for
labor done, or for property actually re-
ceived, or for bonuses to be paid its
employees, or in lieu Of cash dividends,
when and as said dividends shall have
become accrued, or for cash to be paid
at such times and in such amounts and
after such notice as may be determined
by the Board of Directors, and shall be
personal property. No transfer of said
capital stock shall be binding upon this
corporation unless made In accordance
| with its charter and bylaws and
corded on the books thereof.
| ARTICLE V. No stakeholder may
SELL assign or transfer his stock in this
stockholders. through the Secretary
Treasurer of this corporation, notice in
writing OF such intention, and the other
stockholders shall have the right for
period of 90 days from the delivery of
such notice to the Secretary Treasurer
to purchase all or any part Of the stock
of such stakeholder for cash at the book
value thereof, after which 90 days the
said stock may be sold without restric-
ton.
Whenever the employment Of any
stakeholder by this corporation is termi-
mated by death, resignation, dismissal.
lapse of time or otherwise the otnrr
stockholders shall have the right for 30
days from the date Of such termination
TO purchase all or any part OF the SUCK
Of such stockholder for cash at the book
value thereof after which 30 days the
said stock may be sold without restric
tion.
Other stockholders desiring to pur-
chase stock under this article must in
due time give notice of such notice TO
the Secretary Treasurer Of this corpor-
alton. In the event that the other stock
holders offer to buy more stock than
is offered, stockholders offering to buy
shall be entitled to buy the offered stock
in this corporation. For the purpose of
this article the book value shall be de-
termined by the figures as shown on the
last financial statement.
No sale or other transfer of assign
ment of stock i'm this corporation shall
be valid until and unless opportunity
to purchase such stock has first been
given in the manner hereinabove pro-
vided to the other stockholders OF this
corporation: and this right SO vested In
the other stockholders shall follow into
any hands into which il may pass any
stock sold, transferred or assigned with
out such opportunity being given, and
, may be exercised against the holder or
. holders thereof within so days after such
, hooks of this corporation, and no trans
fer of any such stock shall be made on
the books of this CORPORATION during
the tendency of said 90-day period.
ARTICLE vi. All OF the corporate
powers of this corporation and the man
agement Of its affairs shall be vested
in and controlled by the Board Of Direc-
tors, to be composed Of not less than
three nor more than seven stockholders
except that the officers Of this corpor-
{ alton shall have and exercise the power
granted to corporate officers by Section
e 10 of Act 267 Of 1914.
A majority of the Board of Directors
. shall constitute quorum for the trans
. action OF any and all business, and n
; any meeting shall be valid and corporate
, acts within the scope, authority and
power of the Board Of Directors.
. Said directors shall be elected annu-
ally on the first Monday in July Of each
I year: commencing with the first Monday
. in July. 1923. and such directors so
: elected shall hold office for one year; OF
: until their SUCCESSORS shall be duly
E to elect directors at any annual meeting
shall not dissolve the corporation, but
the directors then In office shall hold
! over until their successors are duly
. elected, qualified and installed.
Each stakeholder Of reSbrd on the
4 books Of said corporation shall be enti-
$ tied 70 cast at such meeting, either In
5 person or by proxy, one vote OF each
= jorty Of the votes cast at such meeting
shall elect or decide any other question
a before IL.
A All meetings Of said stockholders or
e directors shall be held at , the ., domici,e
: ten consent OF all directors. valid meet
l. ings Of directors may be held outside OF
:. the state. or in the state, elsewhere than
: at its domicile
ANY vacancy occurring. for any cause
in the Board Of Directors, between the
dates Of the annual meeting herein pro
l. vided for, shall be filed by the remain
;. ing members Of the Board Of Directors
;. Immediately after the annual election
: Of directors, they shall meet and cleo
h from their number a President one OF
A more yice-Presidents, Secretary, ano
: a Treasurer, but which two latter offices
a may be combined in one and the SAM
o person The duties Of such officers shai
. be such as usually pertain to the posi-
: ton to which they are elected, and sucl
!, as may be provided for in the bylaws
:, y or as may be designated by the BoarC
! of Directors at any regular or specia
n meeting.
e The present Board Of Directors OF thii
d until. the first annual meeting Of tn
3 stockholders for the election OF direc
'. tors to be held on the first Monday 4
July 1929 Ellis JOTdy psank Geope
y Grundmann and John Chetta shall com
r pose the first Board Of Directors, VIII
h shall serve until the first election o
IN duly elected. qualified and installed an
-p until that time Ellis Jordy shall b
y President; John Chetta. Vice President
l. and Frank Grundmann' secretary-rreas
r urer.
= ARTICLE VII. This charter may b
ID amended or this corporation may be dis
he solved in the method and manner pro
le vided by law.
~ ARTICLE VIII. No member Of thi
CORPORATION shall ever be held liable o
he responsible for the contracts or fault
OF Of this corporation in any further sur
te than the unpaid balance for his stoc
I'd subscription, nor shall any mere infor
ut mality IN organization have the effec
IN Of rendering this charter null or OF eS
posing q member to any liability tina
SIS as above provided.
d. Thus done and passed In my office a
OF the city Of New Orleans, Louisiana. o
OF the day and date hereinabove writer
e. in the presence OF p. Turegano and
IN Nunez competent witnesses who here
G. unto sign their names with said appear
ers and me. Notary, after due readin
= of the whole.
Original signed: Frank GrundmanI
60 40 shares. New Orleans. La; Charles
o Grundman, % shares. New Orleans La
Geo Grundmann, Is Ishares. New Ol
leans. La; John Cbetta, 10 shares. Ne
e. Orleans La: Ellis +. Jordy, 80 snare
le' New Orleans, La.
e; B. eT1uREGANo.
n ROBERT r. RAMOS,
IS. Notary Public.
r. true copy.
lie New Orleans, La, June q, 1922
ROBERT r. RAMOS.
all Notary Public.
as July Gang. 10
es- CHARTER OF