EXHIBIT 3.40
ARTICLES OF INCORPORATION
FOR
B & B ON THE BEACH, INC
The undersigned, being of full age, hereby makes and acknowledges these
Articles of Incorporation for the purpose of forming a business corporation
under and by virtue of the laws of the State of North Carolina.
ARTICLE I
The name of the corporation shall be B & B ON THE BEACH, INC.
ARTICLE II
The period of duration of the corporation shall be perpetual.
ARTICLE III
The purposes for which the corporation is organized are:
1. Real Estate Agency. As principal, agent, or broker,
and on commission or otherwise; to buy, sell, exchange, lease, let,
grant, or take licenses in respect of, improve, develop, repair,
manage, maintain, and operate real property of every kind, corporeal
and incorporeal, and every kind of estate, right, or interest therein
or pertaining thereto; to construct, improve, repair, raze, and wreck
buildings, structures, and works of all kinds, for itself or for
others; to buy, sell, and deal in building materials and supplies; to
advance loans secured by mortgages or other liens on real estate. To
act as loan broker. Generally to do everything suitable, proper, and
conducive to the successful conduct of a real estate agency and
brokerage business in all its branches and departments.
2. All Lawful Purposes. To engage in any lawful act or
activity for which corporations may be organized under Chapter 55 of
the General Statutes of North Carolina including but not limited to,
construction, manufacturing, raising or otherwise producing, and
repairing, servicing, storing or otherwise caring for any type
structure, commodity, or livestock whatsoever; processing, selling,
brokering, factoring, distributing, lending, borrowing or investing in
any type of property whether real or personal, tangible or intangible;
extracting and processing natural resources; transporting freight or
passengers by land, sea or air; collecting and disseminating
information or advertisement through any medium whatsoever; performing
personal services of any nature; and entering into or serving in any
type of management, investigative, advisory, promotional,
1
protective, insurance, guarantyship, suretyship, fiduciary or
representative capacity or relationship for any persons or corporations
whatsoever.
ARTICLE IV
The corporation shall have the authority to issue One Hundred Thousand
(100,000) shares of $1.00 par value common stock.
ARTICLE V
The minimum amount of consideration to be received by the corporation
for its share before it shall commence business is One Dollar ($1.00) in cash or
property of equivalent value.
ARTICLE VI
The address of the initial registered office of the corporation in the
State of North Carolina is 1500 South Croatan Highway, Kill Devil Hills, Dare
County, North Carolina, 27948; and the name of its initial registered agent at
such address is John G. Gaw, Jr.
ARTICLE VII
The number of directors constituting the initial Board of Directors
shall be two (2); and the names and addresses of the persons who are to serve as
directors until the first meeting of shareholders, or until their successors are
elected and qualified are:
NAME ADDRESS
---- -------
Betty Shotton Brindley P.O. Box 564
Corolla, NC 27927
Douglas R. Brindley P.O. Box 564
Corolla, NC 27927
2
ARTICLE VIII
The name and address of the incorporator is:
NAME ADDRESS
---- -------
John G. Gaw, Jr. Sun Professional Building
1500 Croatan Highway
Post Office Box 1895
Kill Devil Hills, NC 27948
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 23rd day
of November, 1992.
/s/ John C. Gaw, Jr.
--------------------
John G. Gaw, Jr.
INCORPORATOR
3