New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-05-02
CORPORATIONS.


| CHARTER. ACKNOWLEDGEMENT CHARTER.
Be it known that on this seventeenth day Of the
eight % .n@ M
Independence Of the United States Of America the
pno d sns
in and tor the parish and city Aforesaid therein
residing. and in the presence Of the Witnesses
and .ppesTed sess1s Iaeisa dc joy
| Antonio Fernandez, Victor Demourelle, D. Martin
villsvaso, Gustave Pitard. 9ustave Cart and John
Foncier Association, corporation duly organized,
the UNDERSIGNED notary. on the eighteenth day Of
| November, 1871, and having it's domicile in this
| city Of New Orleans; the said appears herein &C.
| resolution adopted by the stockholders of said
corporation ct heir general meeting OF the tnlrd
day of april 1876 certified copy whereof is here
Which said appearers declared in their said ca.
pacty that in order to carry into effect and caus-
| ing to be recorded the resolutions adopted at q
| general meeting of the stockholders of the 81
corporation, held on the said third day OF April,
1876, pursuant to q call made by the Board of D-
rectOrs, specially for the purpose Of taking into
consideration and voting upon the adoption of
amendments proposed to the charter or act of in
on the eighteeutn day OF November, 1871, BY the
arst dsg Of Msrsh 1876 se which :aS
| was advertised by notices in the New Dreams
| Time and the New Orleans Bee newspapers pub
lithed in the lity OF New Orleans, from the third
day Of March last, until the day Of holding said
g, al meeting. as the whole will more fully ap-
pear BY referee &c to the annexed certified copy OF
| stockholders, wherein Stockholders owning and
representing in the aggregate 1lOs shares Of the
number OF shares represented at aid general meet
| ing, voted in favor Of the adoption Of the said
amend msnts.
They, the said appearers acting in their afore.
said capacity do, by tt ese presents, on behalf OF
the stock holders OF the said New Orleans Credit
/ Foucer Association, declare, proclaim and pub
i,sh he said amendments to the charter or act Of
| Incorporation Of the New Orleans Credit FoncieI
Asspci,tion which have been aaoptea at the said
| Poretion, to be hencefOrth binding and obligatory
upon the stockholders of the said corporation and
an that the charter or 40 Of rporation Of this
! said New OI leans Credit Foncier Association. q:
pas sed before the undersigned notary. on the
| eighteenth day of November, 1871, ia accordingly
l anu lded as to read AZ follows, to wits
ARTICLEL
cn,pS ration ehal, bs THE NEW ORLEANS CBEDI1
| FOECISR ASSOCIATION, and the domicile If the
sad corporation is hereby established In the city
she. q It shall exist for twenty f ve years from
the date of its original Oh ater act "f inccrpo
top, to wit: from the eighteenth day Of Noyem
date on the vote AID with the consent OF thee
fourths OF all the stock Of said association, repre-
|
| thereof. to bs convened for that purpose afe
! sixty Gays notice in two OF the newspapers pub
Sac 5 1t shall have a seal, and the device upor
the came shall be the coat OF arms Of the State o
| Louisiana, with the name of the az sociation anG
| the date of the orig nal act of incorporation.
| SEC. =. The president of the association or, il
his absence the secretary is hereby designated al
ihe proper officer On whom citation and ali othel
legal pI ocess may be served.
ARTICLE II.
decl :, ed to BIZ the flowing. to wit: To purchase
| Lane within the limits of the city Of New Orleans
to subdivide, build upon and improve the same
and then to sel and convey the same in sucl
| manner as to afford homes to person
Of restricted means, and to enable then
in Wh Ssa
Of the properly, and in order to facilitate th,
payment Of the purchase price, 81 anting the m lh
shall OF may be sereed on between them and til,
association, provided that the said credit shall
| under 20 cir cumstsnces exceed the term OF tel
years; and also, at the request of any good, sol
vent ana responsible owners OF lands in this CITY
| and wheneve convenient and advisable for sal,
| assoc iation to do So, to build on such lands, TO
the account OF the owners thereof, on the term
herein4bove granted to the purchasers of proper
IT, beon glng TO said association; to make repair
| oh properties belonging to good. soil ent and re
| sponsitle parties; 10 make exchau ges Of proper
ties to purchase properties already improved a
pubic or private sale, and to carry on genera
| real estate agency.
| ARTICLE III.
! SECTION l. The capital stock of the said associa
tion is hereby xed at the of eighty six thou
sand AMI thirty dollars divided into sixteen bur
| and nine hundred ard sixty.six scrips OF nv
dollars each, issued on the tenth day Of October
| 1872.
SEC. q The capital stock may be increased t
| two hundred and fifty Thousand dallors, divide
of fifty dollars each to BE for
ton three Of this article; and the new stock ha
shah or may be issued to represent the .aid il
| titled to only the profits calculated en- the amour
| 10 be added to the capital stock as fixed by set
ton one Of his article; tn ra.se the same to tw
| hundred and fifty thousand dollars; and the hold
ers of the Origina shares shall participate in an
be entitled to the profits calculated ON the Who'll
| amount of tee capital stock of the association.
| SIC. 5. T. u per cent Of each share Of stock sui
scribGd for shall he paid cash at the time III
Board Of Directors shall determine. and ten pc
each and every following month until the fna
payment of the stock subscribed for.
SEC. 4. No certificate of stock shall be issue
| until the same ID paid in full.
SEC. S. In case of neglect or refusal to pay An
instalment as provided for in section three q
this article, after due notice in writing BY tn
| secretary of the association, and without fIrthe
putting in default, the stock Of the party neglec
ing or refusing to pay and all interest and beneb
| said ASSOCIATION; provided that the Board Of d
rectors may ext. nj the pay ment Of any insta!
| ment due and called for for such time as they ma
teem proper; provided also, that the sock SO fo
feited may be transit rred with the cons Mt OF III
| Beard of Directors.
SIC. 6. AL transfers Of stock shall be made Q
| the books Of The association at it's office in tn
city of New Orleans, only BY the party TN who's
on surrender Of the certificate; and no transtt
OF stock by the owner thereof shall be bndir
upon the association unles, made in the manRe
above directed; nor shall any transfer be made {
be allowed as long as any matured indebted mes
the association exis's on the part of the holde
put the stock of q holder so indebted shall renal
pledged to the association until such matured II
| Gebtedness is fully discharged.
ARTICLE ".
| SECTION l. At the end Of each fiscal year. whc
is hereby xed on the thirtleth day ofSeptember
each and every year. the preside ut shall eau 50 to
| ma do STATE ment of the operations of the ass
citation, and shall cause the same to bs publishe
in two of the newspapers of this city, once
| week, for four weeks succeGs1vely.
: SEC 2. At the end OF each and every fiscal yea
| WI enever the operations of said association sha
justify of the same, dividend OF not lees than t.
| per cent shall be declai ed on the amount Of u
stock paid in, paw able to the stockholders at tt
| time and in the manner TO be determined bv u
| Beard of Directors, the stockholders Of the ass
| ciatien to participate in the said dividend in tt
manner provided for by section two OF attic
| three.
SIC 3. In addition to the capital stock Of the a
sociaton, reserve fund shah be create d. to CO..
sist of all the profits OF the association over BIZ
above the dividend of ten per cent to De PAID
| the stockholders rs provided for by section two
this Al ticie and of all the profits of the associ
ton whe the same shall not justify the sa
OF ten per cent ana sn as ,T se
reserve fund shail have accumulated to the e.
tent of fifty thousand dollars, after which exit
dividends may be declared to the stockholders.
SEC A. No dividend shall be paid while thel
exists any matured indebtedness, OF whatev!
! klud against the hOldeN but the same shall
passed t. tine dit of said indebtedness until ga
u isfed. No dividend declared shall bear interea
aud any dividend unclaimed for the term Of thr'
| wears from the date declared shall be forfeited
the a. sociat on and carried to the credit of IL
] | reserve fund, after the publication of the san
I | once week for four weeks successfully; and whe
ever a dividend is called for a ter beiDg thus a