New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-04-18

n.unnce to tie assoeiation, and in default Of tn
. | roE- otseeee the aseociaticn shah have tn
S.c. The association shan alss have powertsrs
q al Sst 'a dns o. 9ss
sotlaEon deprecated BY the mortgage notes held
present act Of amendment; the stock dsted Ell.
tenth day Of c:ober, 1874, ana the SCRIP tbersts
SEC. 4 From and after the date Of the nre..,,
set Of amendment, the as:ociation shall 1 hs9s
power to receive its own stock q par value in s.
Element OF oil Indebtedness due to the sseoclstion
OF themselves Of this prov ison, shall paw his Ss'
without discount ard provided also that IN En-
Ven. ny party shall offer to parchassany properly
belonging 70 the associatsn and any mortgageor or.
CMe oootor O1 the association shall offer 10 Get tie
his indebtedness to the association aud they shsI
not be provided with sufficient smount OF stc ci
said dness in i the associs, ION saii bsve
power to receive the difference in currency; and
provides ini Their that the associs:ion shall have
CAPITAL stock of this association shs have become
red1csa to forty thSussd dollars BY said mode Of
| shall be made in currelcy
SIC; 5, Al stock received by the association in
Cancelled, and q record of ill such alceied otook
81 all be kept "''N-
SKCTIoN ]. All the corporate powers A. the ..o
citation Oh Re exercised by Board Of Dlrec t. =.
and such other officers AMI clerks ~ they may ap-
point.
SIC. 2 Tho Board Of Directors shall consist Of
eight stockholders, five OF whom shall form q
quorum for the transaction Of ell business Of the
SEQ: 3. The election of the Board of Director r,
shall take place an the cond Monday OF Octeb.
IN each and every year at the office OF the assoca.
cause at east fifteen days previous notice to be
given IN two Of the nes spspers published in this
the day aforesaid. the president shall causs
ahotner election to take place within ten DAYS
thereafter. and give notice Of the same by adver
tlss1neut IN Two OF the ne sspaUers OF this city
SEC. l. The Board Of directors ehsu snpoint
three Of the stockholders OF the association com.
mis- stone rs nd two tel ers to conduct. supervise
and report said election, and they ehall car. NV
under oath TO the correctness Of their report The
Board Of Directors thus elected shall serve Tor the
term Of one year. or until ih,ir successoIa are
duly elected ard have qualified.
rRC >. Zach aud every stakeholder shall be en-.
ono vote on each and every share of the canitai
stock which he, sne or they may res D. ctiyety
mold; put not to vote on any stock to him, her or
them transferred within thirty days previous to
said eecton; and those persons rece wing plural.
lty OF votes shall be CO n. idered elected
SEC. 6. The Boa d Of Directors shall annuallv
At their first NEE ting, elect of their owe mem.
bers as president who shall hold his office for enc
Saa or o th ms &c is ELECTED and has
point all the OF her Ulcers and clerks of tn asso
citation. and shall FIX the compensation Of the
pesn M aho OF ali the Officers aud cerks
SEC The president shall preside At all meet.
DIRECTORS, o TX at.
ings Of the stock holders Of the ASSOCIATION. and
shall conduct the blu ness of the ton GEN
orally under the supervision of the Board Of Di.
rectors; tie preside MT is. moreover hereby fully
author zed to mas e, Gu to and egn eli art or
acts that shAll may be necessary and reouisita
70 carry out the object AID purposes Of the asso
SEC. 8. No stakeholder shall in anv event be
t %Ads Iaoie ior the Losses Of the association |
STOCK OF the association.
ARTICLE VII
SECTION l. In case Of nor. pay msnt, the Board NJ
directors shall have the power to foreclose the
mortgages granted to the association to secure:
critics sold to tie assscio n 2 The .aymepf and
r. i'm bursement of al advances made by the asao
count Of others. 3. The payment and rsimSnrse.
ment OF all dvanCes made ty he assoc;atin n.
ae "a estafe ageIt g. And generally the payment
Dy inc association to Garry its jecs and pur
poses. |
TO purchase any and all properties SO eucumbered |
III favor of the association a. private sale or at
any forced sale OF the fame it, IN their opinion the
" terest OF the association would be promoted
thereby and to sell, convey lease the same to |
the best interest ott,e association.
10 adopt such bylaws as they may deem ne ceesary
and convenient for the government and reg1,lation
d me association not contrary to this charter,
and 10 modify and cha nge tie same whe never |
deemed expedient; and in the abtepce of The
preside Mt, they tla have power to apo. mt one
L
ARTICLE VIII.
me i1iiowng named persons. duly elected d |
ectoIs OF the association on Monday the eleventh |
lay OF October, 1879 shall continue in Office under
ms amended charter until the second Menday of
nd qualified They are hereby Vested With a'i
no rights and powers there unto belonging wirb
owe, 10 M any vacancies which may occur in |
helr number, and generally to do AMI perform all
cts end things not herein provided for. which !
nay be necessary to carry into full effect The Oh
Lueen Moio. u jose .s' 1nionin pxrn,nss
VICTOR DelDourelle, J. Martin vilavaso
Gu.tav ve G 5stio S TS5ay ws Hopkins
ARTICLE TX.
At the expiration of this charter or sooner "A /.
treinaD owe provided for by section two of article
ne, the STAIRS Of The ass 3ciation shall bs lqni
ated " az Dts paid Al d the balance divided |
nopg tn stockholders PRO rata on the amount | 7
esch cid Of aic up stock, and in conformity
lree. III 9 Board Of directors shall have The I
,Wel 70 n1 the term Ut liquidation ard to ap. o
pm. % ara o. ilquidatos t. be composed Of
the asso citation to BE- oficio president Of the i
'ard Of lquidators 'A' l.
ARTICLE K a
The stock holders Of the association, at a gen. !.
Ri meetin t" be convened tor the purpose af er ~
irty days notice III two Of the news papers pub. u
he'd in this city. shall have the power to make II
Incorporation provided that three ourths of | ~
g VOTE represented at such meeting shall vote
Ia'oI u kuch proposed measures and any and | -
such notifications, alterations or amendmenta | -
al be recorded and published according to law. Il
! hus done and passed in New Orleans at nv
ice, the day, month and year first above writ. |
q, in the presence. If Armand Pilot Jr and Jius. |
We N. Letellier, compe tent witne sses v no have
med with the said parties and me- notary after n
aiding the WHOLE |
original sigre': tt
G. CAST L,
J. VILLAvOSO &c
g. PlTARD, r,
J. A. FERNANDEZ bs
LUCIkN MOLLO. ia
v. DkMOURELLK or
JOHN WEBER us
A. PILOT, JR TO-
g. NJ. LkTELL[ER | ga
G. LEGARDEUR, JR., NJ tary Public | on
the undersigned. deputy recorder of mort. | da
,es n and for this city of New Orleans ard par. ca
OF Orit ans, State of Louisiana do hereby Ger. Ke
that the foregoing amendmt mt of thu charter |
the New Orleans Credit FOncit Association was |
y recorded in this office in Book Society No. lis -
% 1853 OF sequitur. Y,
j. M CONWAY, Deputy Recorder. -
true copy Of The original on file and of record |
ny Office.
G.. LHGARDEsR JR, Notary Pubic.
." Orieans' April IL, 1876 apis Is my29
Dis
SUCCESSION NOTICES. s.