New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-06-04

/. John L. Brewer, James Lewis, Thomas 1sa-
] belle. and all others who may assOclaUe
/ with them from tins to time, are hereoy
created body corporate, under the llaL IN, y
and title of the Louisiana WOrklngI1en
| Homestead Association. The d0mlclle OF
said body shall be in the city OF new VI
/ leans, and shall enjoy under this title per
| pet1lal succession, and be as such capable
to sue and be sued, to plead and be I'M,
pleaded, to acquire and possess real ana
persOnai property, and to dispose OF the
same; to make and adopt such constitution
| and bylaws not inconsistent with the laws
of this State and of the United States; to
alter and amend or modify the same al
pleasure.
SEC. 2. Be it further enacted, etc, That
the object of this association shall be TO Sc
cnre nv nurcbase OF donation, land or lots
of ground in this State, and the same shall
be distributed in the following manner:
In shares of one hundred dollars EACH to
be paid in FIVE installments of twenty dol
lars on each share
SEC. 3. Be it further enacted etc, That
no member of this association shall hold
more than five shares, and each member, on
each and every share of stock held Oy MIN,
shall pay to the treasurer the sum OF twenty
dollars on each and every share held by
such member. Any member desiring more
shares within the number limited than he
at first held, shall pay sum IN addition
equal to the amount already paid by mem
bers holding the number of shares desired
by him, with the interest which has accrued
thereon up to the time of his application, so
as to make his entire payments pro rata
with the Others
SEC. 4. Be it further enacted, ETC., That
the officers of the association shall consist
of president, vice president, secretary and
treasurer, with five other persons, who to-
gether shall constitute board of directors,
six of whom shall constitute quorum; and
the above named persons shall be chosen
annually by ballot. The said officers and
board of directors to be possessed of all
powers and duties incident to like officers
in similar corporations. The president OF
said association shall be the president of the
board of directors, and as such shall have
the right to sue and be sued in behalf of said
assOciat ton. The board Of directors shall
have the right TO fix such compensation as
they may deem necessary for such officers.
subject to the approval of the association
at a stated meeting duly convened for that
purpose.
SEC. 5. Be it further enacted, ETC., That
this association shall meet quarterly, on the
first Mondays of January, April, July and
October of each year, and Oftener if called
together by the board, and notice of such
quarterly or special meeting shall be pub
lished three days in paper having the
largest circulation in the city of New Or
leans.
SEC. g. Be it further enacted, ETC., That
when land has been acquired and it is pro-
posed to distribute the same, the board of
directors shall cause the same to be equally
divided among the members of the associa-
ton, and shall lay the plan of distribution
thereof before a quarterly or special meet
ing, duly announced, in order that the plan
may be ratified and carried into effect, or
such other substituted as may seem best to
the association.
SEC. z. Be it further enacted, etc, That
this act shall take effect from and after its
passage.
(Signed) o. II. BREWSTER,
Speaker of the House of Representatives.
(Signed) P. B. S. PINCHBACK,
Lieutenant Governor and President Of the
Senate.
Approved April %, 1872.
(Signed) H. c. WARMOTH,
Governor Of the State of Louisiana.
A true copy:
f. j. HEBRON,
Secretary of State.