The herald., 1922-04-20
CHARTER.

discharge such clerks and employees OF
the corporation, including the secretary
who Is not a stakeholder or director, as
conditions may justify or the business OF
the corporation may require. The tenure
of office of all of the employees of this
corporation shall be during the pleasure
of the board of directors. The board OF
directors may, from among its members
appoint an executive committee, which
said committee shall consist of three mem
berS. including one of the officers OF the
corporation, and the board of directors
may delegate such managerial powers as
il deems necessary to the executive com
mittee which said committee shall report
at each meeting of the board of directors.
ARTICLE VINO stakeholder shall ever
be held liable or responsible for the con-
tracts. faults, debts or duties of this cor
pOratiOn. nor shall any mere infOrmality
in its organization have the effect of rem
dering this charter null or OF exposing its
stockholders to any liability beyond that
every subscriber to the capital stock OF
this corporation. though not holder,
shall be personally liable to the creditors
of this corporation to an amount equal TO
the unpaid balance on the stock for which
he has subscribed. Transferees shall not
be liable unless il be shown that the stock
was acquired with knowledge of the con-
ditiOns, which would make the subscriber
liable. Where both subscriber and trans
fierce are liable the liability shall be in
soido. and the liability shall continue as
to both after any disposal of the stock.
Further. that if stock be issued for pro-
perty in violation of the provisions of this
act. or if any dividend or other diStribu-
ton of the assets be made. other than that
from net profits. or if Il reduction of the
capital be made under the guiSe of n loan
to a stakeholder. or if any report or state
meut Of public notice shall not be made.
as required by law, or if made shall be
false in any material representation, the
directors of such corporation. voting or
asserting thereto. shall be Jointly and
Severally liable to the creditors of this
corporation for any loss or damage arts
ing therefrom.
ARTICLE yII-ThiS act of incorpOra-
ton may be changed. modified or altered,
or this corporation may be dissolved with
the assent of the stockholders owning
twO-thirds of the issued stock of this cor
poration, or may be further modified with
the assent of the stockholders owning
three-fourths of the issued capital stock
Of this corporation; all as is provided by
Act No 267 of the General Assembly ~
the State of Louisiana for the year 1914,
and the amendments thereto, at n meeting
N the stockholders convened for that pur-
pose, and after due notice shall have been
given each OF the said stockholders as
provided for in Article of this charter
Or act of incorporation. except that when
ever in the Judgment of the board of d.
rectorS it shall be deemed advisable and
'Or the benefit of said corporation that ii
should be dissolved. the board of directors
within ten days after the adoption of
to that effect. by a majority of
he whole board of directors at a meeting
allied for that purpose, of which meeting
each director shall have received three
days notice, shall cause notice of the
adoption of such resolution to be mailed
% each stakeholder, together with a no.
tice of the meeting of the stockholders
10 be held in the Office of the corporation
to take action upon the resolution so
adopted by the board Of directors. In
'aSe Of the dissolution of this corporation
by the expiration of its charter. or other
wise, the stockholders shall elect three 81
l1quidators from among their number,
who shall have full power and authority
70 liquidate and settle the business and
lffairs of the company. In case of the
ieath or disability of any Of said liquida-
tors the survivor or survivors shall ap-
point a successor or successors to him or
hem.
ARTICLE VIII-Until the election to be
held On the First Monday in April, 1929.
he following stockholders shall consti-
ute the first board of directors: Ralph
4. WilIkomm. f. A. Rogers. William J.
Ed. J. Filleul. Victor X. KAN.
With the said Ralph \. WillkOmm as presi-
lent: William J. WillkOmm as vice-presi-
lent: +. \. Rogers as treasurer, and Vic
or h. kiamm as secretary. their respec-
i've addresses being as follows: Ralph
\. WillkOmm, 1858 WOodlawn Avenue.
tew Orleans. Louisiana; William J. Will
cans, Louisiana; +. a. Rogers. 1920 How
I'D Street. New Orleans. Louisiana; Vic
or h. kiam as secretary. their respec-
ng. New Orleans, Louisiana.
ARTICLE IX-The subscribers have
written opposite their respective names
he amount of stock of this corporation
o be subscribed by each of them. which
5 as follows: Ralph A. Willkomm. 81
hares; William J. Willkomm, shares
:. A. Rogers, 8 shares.
Thus done and passed in my Office in
he City of New Orleans, State of Louis
ana, on the day, month and year first
lereinabove written. in the presence of
elsie G. Johnson and Bernard Titche, Jr.. !
igned their names together with said ap-
'earers and me, notary, after due reading !
f the whole.
Witnesses: Bernard Titche, Jr.. Elsie
}. Johnson.
ORIGINAL SIGNED)
Ralph A. Willkomm subscribed 81 |
hares; W. J. Willkomm subscribed s |
hares: +. A. Rogers subscribed shares. |
(SeaD: VICTOR X. KHAN.
Notary Public. |
(seaD: VICTOR X. KHAN.
Notary Public.
/, the undersigned. Recorder of Mort
ages in and for the Parish of Orleans,
tate of Louisiana, do hereby certify that
he above and foregoing Act of IncorpOra-
ION of the Reliable Used Car Company,
nc. was this day duly recorded in my
flee in Book 126S, folio -.
New Orleans, La. April 9Th. 1922.
(Signe6): ROBT. SCOTT.
Deputy Recorder.
I hereby certify the foregoing to be
rue and correct copy of the original on
lie in the records of my Office at New Or
ans. La.
tSeaD: VICTOR X. KHAN.
Notary Public.
pril 13-May Is.