The herald., 1922-05-11
CHARTER.


lana for the organization Of corporations.
/ and especially Act pa OF the Acts of
1914, they have coycnauted and agreed.
I and by these presents covenant. agree
and bind themselves, aS well rs such
/ persons rs may hereafter become assoc
ciated with them, to form and constitute
/ a corporation and body polite in law,
| and TO that end they state the follow
ing matters and things and execute and
| adopt these articles of incorporation as
follows. tO-wit:
ARTICLE l. The name or this corpor-
alton shall be GEORGE II. MAGlNNlS,
INC.
ARTICLE II. The objects and pur-
poses for which this corporation is es-
tablished and the nature of the business
to be carried on by it are declared and
specified to be: To act as agent for in
surance companies in soliciting and re-
ceiying applications for fire, casualty,
plate glass boiler elevator. accident,
health, burglary. rent, marine, credit,
fidelity and surety bonds, and life in
surancr. and all other kinds Of insur-
ancc. the collection Of premiums and
doing such other business as may be
delegated to agents by such companies.
and to conduct a general insurance
agency and insurance brokerage business
| ARTICLE III. The capital stock of
this corporation is hereby fixed at the
sum of Ten Thousand Dollars (SlO.NOW),
to be divided into and represented by
one Hundred OOW Shares of the par
each, which shall be paid for in cash
| or may be issued for property actually
received by the corporation, or for ser
vices rendered. The capital stock may he
inceased to the sum of Twenty Thousand
Dollars ts20O0O00).
!, ARTICLE w. No stock in this cor
pOration shall be sold, assigned or trans
ferred other than by Inheritance. unless
and until the same shall have been first
offered in writing to the other stock
, holders for the benefit of such stock
> holders as may desire to purchase the
same at the book value thereof as OF
, the first day OF January last preceding
the date of the offer. Said offer shall
be addressed to the Board of Directors
and ten days shall be allowed for the
acceptance of same in writing by any OF
. the remaining stockholders who may be
y willing to pay the book value for said
stock so offered. as shown by the books
Z of the corporation on the first day or
o January last preceding the date Of such
n offer Each stakeholder shall be priv
Q LEGGED to purchase the stock offered In
the proportion that the number Of shares
, | owned by him at the time bears to the
:. number OF shares owned by the other
a | stockholders who may desire TO partiei-
a pate in the purchase
ARTICLE v The location of the DOM
d icie OF said corporation shall be In the
d City of New Orleans, in the Parish OF
: Orleans, State of Louisiana.
IS ARTICLE vi. The period of duration
e Of said corporation shall be fifty 500
|
n years
: ARTICLE VII. The Board of Direc-
i tors Of said corporation shall be not less
e than three nor more than seven. The
J. officers OF said corporation shall be those
i provided for by law and such other Off
n GERS as may be provided for by the by
= laws. The names and postofhce ad-
s dresses OF the directors of said corpor-
e alton who are selected to serve for the
n first year or until their successors are
u elected and qualified shall be as follows:
= George II. Maginnis. 1649 Palmer Ave
u nue. New Orleans: w. ID. Maginnis, 1919
= Palmer Avenue, New Orleans; Edward
{. | Becker Jr 24O4 st. Bernard Avenue,
e | New Orleans, with George II. Maginns
q as President w. d. Maginns as Vice
. President and Treasurer, and Edward
a Becker Jr., as Secretary. The office OF
Q Treasurer may be held by the Vice
e President or the Secretary, as the Boar
e Of Directors may determine: but in tho
q | event shall be termed Vice President
d Treasurer or Secretary Treasurer, as tina
II case may be. The offices and directors
5 of this corporation shall at all times be
II stockholders. and should any officer or
II director during his tenure of office cease
= to be n stakeholder he shall ipso facto
IT cease to be an officer or director hereof.
Il and the vacancy thus created shall be
u filled by the remaining members OF the
Z Board from among the stockholders.
/ ARTICLE VIII. The names Of the
! subscribers to these articles OF incOr-
i poration and the number Of shares or
= stock which each subscriber is TO take
- in said corporation are as follows:
: George II. Maginnis, "a shares, par value
!. $4,000: w. u. Maginnis 10 shares, par
value sl5O0.0O; Edward Becker, Jr., 1
share, par value $4,000. Each share OF
=, y stock shall be entitled to one vote. There
= shall be no cumulative voting.
y ARTICLE TX. The Board OF Direc-
v tors OF said corporation are hereby
II vested with all the corporate powers Of
p said corporation. including among other
fnIr. ~Nrfr fE hn IN
10 make alter and amend bylaws for the
/ government OF said corporation; the
l. power to borrow money, execute mort
It cages, issue notes or bonds; to sell or
is pledge the same, and generally to do all
g things pertinent to or necessary for the
objects and purposes Of said corpora
II ton. or which are or may be permitted
Is by the laws applicable to corporations,
IT the above recital of powers granted to
~ the Board of Directors not being ex-
DR. elusive, the intention being to vest the
ne Board Of Directors with all such other
g and further powers as may be proper
he to accomplish the objects and purposes
OF said corporation.
A. ARTICLE Y. Stockholders meetings
Or for the election Of directors OF said cor
1e poration shall be held annually on the
81 ot second Monday OF January each year.
AT beginning with the year 1923. The Board
ie OF Directors as named In this charter
=, shall hold office until said second Mon
a. day in January. 1923, or until their sue
ho cess0rs are duly erected ana quallneu
~ Failure to elect directors or to hold an
90 annual meeting on the day specified In
mr. this charter will not dissolve the cor
g poratiOn, but the directors then In office
m shall remain in office until their sue
ID cessors are elected and installed.
ID ARTICLE XII A majority of the Board
OF Directors shall constitute n quorum
ne for the transaction Of all business.
rs ARTICLE XII. All legal process shall
We be served upon the President; or. in his
Or absence. upon the Vice-President Of the
corporation.
In Thus done and passed in my office in
he the City Of New Orleans. in the presence
n, Of Burt w. Henry and Harriet Spickert
rs competent witnesses. both OF this city
IN who have hereuntO signed their names
rs with the said appearers and me- Notary
> on the date and day first above written
and the subscribers do hereby subscribe
On for and agree to pay for the number OF
- shares set opposite their several names
A. (Names OF subscribers omitted)
Witnesses:
BURT w. HENRY
10 HARRIET SPICKERT.
Z. A. W. COOPER.
IS Notary Public
at T. the undersigned Recorder OF Mort
a. cages in and for the Parish Of Orleans
- dn ahu o.