Exhibit
3.1
SECOND
AMENDED AND RESTATED
ARTICLES
OF INCORPORATION
OF
CENTRAL
FREIGHT LINES, INC.
a
Nevada corporation
ARTICLE
I.
NAME;
ADDRESS
The
name
of the corporation is Central Freight Lines, Inc., a Nevada corporation (the
“Corporation”).
ARTICLE
II.
PURPOSE
The
purpose of the Corporation is to engage in, promote, conduct, and carry on
any
lawful acts or activities for which corporations may be organized under the
laws
of the State of Nevada.
ARTICLE
III.
AUTHORIZED
SHARES
A. Authorized
Shares. The total number of shares of capital stock of all classes which the
corporation shall have authority to issue is One Hundred Ten Million
(110,000,000) shares, all having a par value of One-Tenth of One Cent ($0.001)
per share, consisting of the following: One Hundred Million (100,000,000) shares
of Common Stock; and Ten Million (10,000,000) shares of Preferred
Stock.
B. Reclassification
of Common Stock. Upon filing of these Articles of Incorporation, each share
of
Class A Common Stock, par value One-Tenth of One Cent ($0.001) per share, and
each share of Class B Common Stock, par value One-Tenth of One Cent ($0.001)
per
share, then outstanding shall be reclassified into one share of Common Stock,
par value One-Tenth of One Cent ($0.001) per share, without class designation.
From and after the date of filing of these Articles of Incorporation,
certificates representing shares of Class A Common Stock and Class B Common
Stock issued prior to such filing date shall be deemed to represent only the
right to receive new shares of Common Stock, without class designation, pursuant
hereto.
C. Common
Stock. Except as otherwise stated herein, holders of Common Stock shall have
all
of the rights afforded holders of common stock under the Corporation's Bylaws
and the laws of the State of Nevada. Holders of Common Stock shall not be
entitled to cumulative voting in the election of directors. Holders of Common
Stock shall be entitled to one vote for each share held on all matters on which
stockholders are generally entitled to vote.
D. Preferred
Stock. The Board of Directors is expressly authorized to issue the Preferred
Stock from time to time, in one or more series, provided that the aggregate
number of shares issued and outstanding at any time of all such series shall
not
exceed Ten Million (10,000,000). The Board of Directors is further authorized
to
fix or alter, with respect to each such series, the following terms and
provisions of any authorized and unissued shares of such stock:
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(i)
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the
distinctive serial designation, and the rights, powers, and preferences
and relative participating, optional, or other special rights, if
any, and
any qualifications, limitations, or restrictions on each such
series;
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(ii)
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the
number of shares of the series, which number may at any time or from
time
to time be increased or decreased (but not below the number of shares
of
such series then outstanding);
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(iii)
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the
voting powers, if any, and, if voting powers are granted, the extent
of
such voting powers including whether cumulative voting is allowed
and the
right, if any, to elect a director or directors;
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(iv)
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the
election, term of office, filling of vacancies, and other terms of
the
directorship of directors, if any, to be elected by the holders of
any one
or more classes or series of such
stock;
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(v)
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the
dividend rights, if any, including, without limitation, the dividend
rates, dividend preferences with respect to other series or classes
of
stock, the dates on which any dividends shall be payable, and whether
dividends shall be cumulative;
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(vi)
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the
date from which dividends on shares issued prior to the date for
payment
of the first dividend thereon shall be cumulative, if
any;
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(vii)
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the
redemption price, terms of redemption, and the amount of and provisions
regarding any sinking fund for the purchase or redemption thereof;
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(viii)
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the
liquidation preferences and the amounts payable on dissolution or
liquidation;
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(ix)
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the
terms and conditions under which shares of the series may or shall
be
converted into any other series or class of stock or debt of the
Corporation; and
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(x)
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any
other terms or provisions that the Board of Directors by law may
be
authorized to fix or alter.
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E. Provisions
Applicable to Common and Preferred Stock. No holder of shares of the Corporation
of any class, now or hereafter authorized, shall have any preferential or
preemptive right to subscribe for, purchase, or receive any shares of stock
of
the Corporation of any class, now or hereafter authorized, or any options or
warrants for such shares, or any rights to subscribe to or purchase such shares,
or any securities convertible into or exchangeable for such shares, which may
at
any time or from time to time be issued, sold, or offered for sale by the
Corporation.
ARTICLE
IV.
DIRECTORS
The
number of directors of the Corporation shall be determined from time to time
by
the Board of Directors in a manner consistent with the Corporation's Bylaws,
such number to be between the fixed minimum of one (1) director and the fixed
maximum of twelve (12) directors. The Corporation shall be managed by the Board
of Directors. In addition to the powers and authority herein, or by statute,
expressly conferred upon it, the Board of Directors may exercise all such powers
and do all such acts and things as may be exercised or done by the Corporation,
subject, nevertheless, to the provisions of the laws of the State of Nevada,
of
these Articles of Incorporation, and of the Bylaws of the Corporation. The
number of Directors as of the date of these Articles of Incorporation shall
be
two (2). The names and addresses of the members of the Board of Directors,
who
are to serve as the Directors until their successors are duly elected and
qualified are:
Jeff
Shumway
2710
East
Old Tower Road
Phoenix,
Arizona 85034
Jerry
Moyes 2710
East
Old Tower Road
Phoenix,
Arizona 85034
ARTICLE
V.
LIMITATION
OF LIABILITY
To
the
fullest extent permitted by the laws of the State of Nevada, as the same exist
or may hereafter be amended, any director or officer of the Corporation shall
not be liable to the Corporation or its stockholders for monetary or other
damages for breach of fiduciary duties as a director or officer. No repeal,
amendment, or modification of this Article V, whether direct or indirect, shall
eliminate or reduce its effect with respect to any act or omission of a director
or officer of the Corporation occurring prior to such repeal, amendment, or
modification.
ARTICLE
VI.
INDEMNIFICATION
To
the
fullest extent allowable by the Nevada General Corporation Law (including
pursuant to the expanded rights and financial arrangements that may be granted
to persons under articles of incorporation, bylaws, agreements, votes of
stockholders or disinterested directors, or otherwise under such law), the
Corporation shall indemnify those persons entitled to indemnification, as
hereinafter provided, in the manner and under the circumstances described in
this Article VI.
A. General
Indemnification. The Corporation shall indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending, or
completed action, suit, or proceeding, whether civil, criminal, administrative,
or investigative, including any action by or in the right of the Corporation,
by
reason of the fact that he is or was a director, officer, employee, or agent
of
the Corporation, or is or was serving at the request of the Corporation as
a
director, officer, employee, or agent of another corporation, partnership,
joint
venture, trust, or other enterprise, against expenses, including attorneys'
fees, judgments, fines, and amounts paid in settlement actually and reasonably
incurred by him in connection with such action, suit, or proceeding unless
a
final adjudication by a court of competent jurisdiction establishes that his
acts or omissions involved intentional misconduct, fraud, or a knowing violation
of law and were material to the cause of action. The termination of any action,
suit, or proceeding by judgment, order, settlement, conviction, or upon a plea
of nolo contendere or its equivalent, shall not, of itself, create a presumption
that the person's acts or omissions involved intentional misconduct, fraud,
or a
knowing violation of law.
B. Mandatory
Indemnification. To the extent that a director, officer, employee, or agent
of
the Corporation has been successful on the merits or otherwise in defense of
any
action, suit, or proceeding referred to in paragraph A of this Article VI,
or in
defense of any claim, issue, or matter therein, he shall be indemnified by
the
Corporation against expenses, including attorneys' fees, actually and reasonably
incurred by him in connection with such defense.
C. Advancement
of Expenses. To the extent not prohibited by law, expenses incurred in defending
a civil or criminal action, suit, or proceeding shall be paid by the Corporation
in advance of the final disposition of such action, suit, or proceeding upon
receipt of an undertaking by or on behalf of the director, officer, employee,
or
agent to repay such amount if final adjudication by a court of competent
jurisdiction establishes that his acts or omissions involved intentional
misconduct, fraud, or a knowing violation of law and were material to the cause
of action.
D. Other
Rights. The indemnification provided by this Article VI does not exclude any
other rights to which a person seeking indemnification may be entitled under
any
law, bylaw, agreement, vote of stockholders or disinterested directors, or
otherwise, both as to action in his official capacity and as to action in
another capacity while holding such position. The indemnification provided
by
this Article VI shall continue as to a person who has ceased to be a director,
officer, employee, or agent and shall inure to the benefit of the heirs,
executors, and administrators of such a person. No amendment to or repeal of
this Article VI shall apply to or have any effect on the rights of any director,
officer, employee, or agent under this Article VI, which rights came into
existence by virtue of acts or omissions of such director, officer, employee,
or
agent occurring prior to such amendment or repeal.
E. Insurance.
The Corporation may purchase and maintain insurance on behalf of any person
who
is or was a director, officer, employee, or agent of the Corporation, or is
or
was serving at the request of the Corporation as a director, officer, employee,
or agent of another Corporation, partnership, joint venture, trust, or other
enterprise against any liability asserted against him and incurred by him in
any
such capacity, or arising out of his status as such, whether or not the
Corporation would have the power to indemnify him against such liability under
the provisions of this Article VI.
F. Definition
of Corporation. For the purposes of this Article VI, references to "the
Corporation" include, in addition to the corporation that resulted from the
filing of the original articles of incorporation and the filing of its amended
and restated articles of incorporation to which these Articles of Incorporation
relate and its surviving corporation in any merger, any constituent corporation
(including any constituent of a constituent) absorbed in consolidation or merger
which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, employees, and agents so that
any person who is or was a director, officer, employee, or agent of such
constituent Corporation, or is or was serving at the request of such constituent
Corporation as a director, officer, employee, or agent of another Corporation,
partnership, joint venture, trust, or other enterprise, shall stand in the
same
position under the provisions of this Article VI with respect to the resulting
or surviving corporation as he or she would have with respect to such
constituent corporation if its separate existence had continued.
G. Other
Definitions. For purposes of this Article VI, references to "other enterprise"
shall include employee benefit plans; references to "fine" shall include any
excise tax assessed on a person with respect to an employee benefit plan;
references to "serving at the request of the Corporation" shall include any
service as a director, officer, employee, or agent of the Corporation that
imposes duties on, or involves services by, such director, officer, employee,
or
agent with respect to an employee benefit plan, its participants, or
beneficiaries; and masculine references shall include the feminine.
ARTICLE
VII.
DURATION
The
Corporation shall have perpetual existence.