The herald. [volume] (New Orleans, La.) 1905-1953, 1922-05-18
PERCIVAL STERN,

CHARTER OF RELIABLE USED CAR
COMPANY. INC.
United States Of America. State Of Louis
lana, Parish of Orleans. City or New Or
leans. BE il known, that on this 9th day of
the month of April. in the year one thouS-
and. nine hundred and twenty-five. l922D.
before me, Victor X. KAN. notary pub
lie i'm and for the Parish of Orleans. State
Of Louisiana, therein residing, duly com
miSSioned and qualified, and in the pres
ence of the witnesses hereinafter named
and undersigned. personally came and ap-
peared The several parties whose names
are hereuntO subscribed. who severally
declare to me, notary. that availing them
selves of the provisions of the laws of this
state. relative to the organization of cor
poratiOnS, and more especially of Act
261 of 1914. they have cOvenanted and
agreed, and by these presents do covenant
and agree. for themselves. their successors
and assigns. to form themselves into a
corporation and body polite in law for the
ObicGts and purposes and under the stipu
lationS hereinafter set forth. tO-wit
ARTICLE THE name Of this corpora
ton shall be Reliable Used Car Company
Inc, and under its corporate name il shall
have the power and authority to have and
enjoy corporate existence and succession
for the full term and period of ninety
nine years from and after the date hereof; :
to contract. sue and be sued. to make and
use a corporate seal and the same to alter
and break ut pleasure, to hold. receive, pur-
chase ,hypOthecate. convey, sell, lease, or
pledge real and personal property. to issue
negotiable bonds and notes. or other evil
dence of debt. to name and appoint such
managers. agents, directors and officers as
its business interests and convenience may
require. and TO make and establish. as
well as alter and amend from time to time.
such bylaws rules and regulations for
the proper government of the affairs OF
this corporation as may be necessary and
proper.
ARTICLE 1.-THE domicile of this cor
pOratiOn shall be in the City of New Or
leans. State of Louisiana. Parish Of Or
leans, and all citations and other legal
process shall be served upon the president
Of this corporation. or in the event of his
absence upon the vice president thereof
and in the absence of both of said parties
or officers upon the secretary of this cor
pOratiOn
ARTICLE UI-The objects and pur-
poses Tor which Hlis corporation is or
ganized. and the MIXTURE of the business to
be carried on by it are hereby declared
to be.
To manufacture. buy. SELL construct,
erect. equip. maintain, repair rent. trade
operate and store automobiles and all
kinds of vehicles or water craft of every
kind and character whatsoever propelled
by steam. electricity, gas, gasoline. or
compressed air, or any other motive
power; also TO buy, sell. manufacture
trade and deal in engines, machinery
said automobiles. machines or vehicles
and to own, either by purchase or other
wise, lease rent erect. construct. main
tain and operate garages and buildings
necessary or incident to the business here
in contemplated, and to buy. sell rent,
or lease real estate in the course of the
conduct of the said business either in con-
nection with said business or otherwise
and further to buy, sell and repair auto
mobile tires, and further to do anything
appertaining to the automobile business
and the business herein contemplated.
ARTICLE IV-The capital stock of this
corporation is hereby fixed at the sum
of five thousand (S5 900 0O) dollars diyid-
ed into and represented by two hundred
t2OO) shares of stock at the par value Of
twenty-five (S2500) dollars per share
Said stock shall be paid for in cash mt
such time and after such notice to the
subscribers as the board Of directors may
fix. or the same may be issued at not less
than par for labor done or services rem
dered said corporation. or property or
rights actually received by said corpora
ton. This corporation shall be and be-
come going concern and shall be author
lied to commence business when and as
soon as twenty-five hundred 80 500 OO)
dollars of its capital stock shall have been
hundred and fifty (s125OOO) dollars there
of has been paid for, all in accordance
with the requirements of Act No. 267 of
the General Assembly for the State of
LoulSiaha Tor the year 1914, and the
amendments thereto.
The amount TO which the capital stock
of this corporation may be increased shall
ut no time exceed the sum of fifty thous-
and (S5OOO0OO) dollars. except in accord
ance with the provisions of section of
Act No. 267 of the General Assembly of the
state of Louisiana for the year 1914, and
the amendments thereto.
ARTICLE Van of the corporate
powers Of said corporation shall be vested
NV III 81
TO be composed of not more than five and
not less than three stockholders a ma
lority of whom sitting at any time shall
constitute quorum, said directors to be
elected annually on the LIST Monday of
April beginning in the year 1923 Each
stakeholder shall be entitled in person
or by written proxy to one vote for each
share OF the capital stock held by him and
Standing IN his name on the books of the
corporation, or he may send his vot, by
letter, the signature to which must he
acknowledged before a notary public or
other officer authorized to take affidayits
The stockholders of the corporation are
herewith given and granted the right Of
cumulative voting in the election of Off
GERS or directors: All elections shall he
held under such rules and regulations as
may be determined by the board of di-
rectors, after legal notice Of such cleo
ton shall have been given to each stock
holder by mail. sent to his last known ad-
dress. or be published in one OF the daily
newspapers published in the English
language in the City of New Orleans for
at least fifteen I(15) days preceding such
elections. The directors thus elected shall
continue in office until their successors
shall have been duly elected and qualified
No failure to elect shall be regarded as a
forfeiture of this charter. Any vacancy
occurring on such board Of directors shall
be filed by the remaining directors for
the unexpired term, when a vacancy shall
be considered to exist at any time when
the maximum number Of directors pro-
vided by this act Of incorporation are not
In Office and actually so serving. Said
board of directors may at its first meeting
after its election elect from its members
a president, one or more vice. presidents |
a secretary and treasurer and a manager