New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1876-04-26
.CORP0RA


insurance to the associate n snd in default Of tn
! said first mortgage the association shall have Tn
| power to accept good and unequivocal cclattra
| securities.
celve it's own stock at par value in full or partia
| settle meat OF all bar lndebtednf due to the as
| fociatcn repre- serted by the mortgage notes he
by tie association. matured at the date OF tn
4 Poesent oct Of amendments; the stock dated tn
tenth day of Oc' ober, 1872, and the scrip theret'
From % and AFTER ts date OF s
act of, anne ndme Mt, the association shall hsv'
power fn retetve its own stock ct par value in sat
Element Of al Indebtedness due to the ASSOCIATION
provided that tire party or parties awaiting birsei
OF themselves OF this provision. sbs pay his, be-
or their indebtedness m atured or not in full ent
| without discount; ard provided also thae in tbt
event any rarity shall offer tOpurchass any properly
belonging to the q ISOLATION and any mortg age or OF
binary debtor Of the association shall offer sci tt
his Indebtedness to the association and they shall
not be provided with sufficient amount Of stock
TO pay the purchase price in full or to satisfy the
power to receive the difference in currency; and
provided further, that the association shall have
capital stock OF this associa Jon she'll have become
It duced to forty thousad dollars by said mode OF
settlement, when all payments to the association
SEC. 5. Al stock received BY the association in
nay ment of Indebtedness it shall be- ipe0 factO
eanreled. and record OF all such Cancelled stock
ARTICLE VI
SECTION |. Ali the corporate powers at the $40.
citation or all he exercised BY Board Of Direct
and such other Otiices ana clerks ~ they may sp.
point.
SEC. 2. The Board of Directors shall consist Of
eight stockholdeIs, five OF whom shall form a
quorum for the Transact ton Of ali busine IS OF the
association.
SEC. 3. The election of the Board of Directors
shall take place an the second NJ nday Of Octob r
in each ard every year the office OF the associa.
ton, In this city, Of which the pre- sdent shall
cause at east fifteen days previous notice to be
city. In the event of election taking place on
the day aforesaid. the president shall cause
another election to take place within ten DAYS
thereafter, aud give notice of the same by aiver
tissineut in two of the ne ~spapers OF this city.
Skc = The Board Of Directors shall appoint
three OF the stockho ders of the assora on COM
m,ssioners and two tel era, TO conduct supervise
and report said election, and they shall Ger ify
Board Of Directors thus elected shall serve for the
lorna OF one year. or until th ir successors are
duly IL cted and have qualified
NEC D. Each and every sIOckholdor shall be en-.
titled at elsctions. ether in person OF by proxy to
one vote on each and every share of the capital
s stGGx which he she Or they may respectively
n"ld but not to vote on any stock to him, her or
them transferred within thirty days previous to
said ection and those per sons wing plu al.
ity Of votes shall be considered elected
SEC. g. The BOad Of Directors shall annually
at their first meeting, elect one Of their own mem.
bers as pres dent who shall hold his office for enc
qualified; tie Board of Directors shall also an.
point all the o:hsr Ulcers and clerks Of ths asso-
preside NJ and of all the officers and clerks en-.
ployed by this association.
IS, SEC =: ! The president han preside at all meet
ings OF the Board OF Directors and at II e meet.
1ngs of the stockholders If the association, and
snail conduct the bu mess o. the association gen
Iectore; TIE preside Mt it, moreover hereby Fl, Nv
authorized to make, ex. cute and eien slt, act or
aCts n 81 shai or may DO nece ssarv aud requisite
to carry out the object AID purposes Of the asso.
ciaeion.
So, SIC , 3 No stoclholler shall ii any event be
made liable for the losses Of the association
beyond his, her their subscription TO the ca otal
stock OF lhe association.
81, ARTICLE VII.
SECTION ]. 10 case of non.pas meut, the Board of
Dirt ctors shan have the power to forecose the
mortgages granted to the association to secure:
l. The payment of the purchase Price OF all prop
critics sold to the asssci ,tcn. 2 The oavmepT AID
clatlon tor building AID making repairs for ac-'
count OF dthefs. 3. The nay meBt and rejmhurse.
ment OF all advances made by The association as
II al estate agent g. And generally the payment
and reimburse ment OF any ;Ed all ed, a ices made
by the association to carry Ollie to and pur
poses.
SEC. 2 Tie Board Of Directors shall have power
10 purchase any and al properties so encumbereds
IN favor 81 the association a. private sale OF at
n tersst OF the association would be promoted
thereby, and to sell, convey, lease the same to
SEC. 3. The Board of Directors shall have now.r
TO adopt such bylaws they NAV de. m ne cesssry
ard convenient for the government and regulation
Of the association not contrary to this Charter
and to modify and change the same whenever
deemed expedient and in the ebaence of the
president they shall have poge- tn ann q MT ore
't their o~n numbers to act in his placs. |
ARTICLE VIII.
The following Famed persons duly elected Iii.
ectOIs OF the assoc alton on Monday the eleventh
Jay OF October. 1875 shall continue in Office under
II amended charter until the second Monday of |
october 1876, or until their successors are elected
md qualified.. They are hereby vested with all |
power to fill any vacar 6es which ma : iccnr r.,
heir number. and generally to do and perform all |
icts ami things not herein provided for, which |
nav be necessary to carry into full effect the Oh.
ects and purposes Of this ASSOCIATION:
E vhesen b MnS, Joe An,oIiS F.
GGustave Ptsrd, Octave Hopkins,
Gustave Cast, John Weber,
ARTICLE TX
At the expiration of this charter or sooner. a. il
t owe provided for by section two of article
ne, the sfalrs Of the association shall b.. li0ni. |
ateo' IT'S 0t bts paid al d the balance divided |
mong the stockholders pro rata on the amount |
nth the provisions Of section two of art;"is
hlee. The Board of directors shall have the
over to FIX the term Of liquidation ard to an. }
olnt board OF liqndato,s. t., be comp )eed Of
ne preside MT as two stsckhnldt rs. the president
the asso cia, ion to be ex ofcio president Of the
ARTICLE K.
The stock holders of the association, at q zen.
raj NEE TN t" oa convened tor the purpose aft er
a ay Gays not.ce n two Of he newspapers pub
py changes, additions or modifca ions 10 the act
Incorporation, provided that three o1rths OF l.
10 votes represented at such meeting shall yOi e |
! favor Of such proposed measu1 es. and anv ard |
such notifications, alterations or amepdmen,a |
,au Do recorded and published according to law.
snus done and passed in. New Orleans at nv
nee, the day, month and year first above writ. |
Il, in The presence tf Armand Pilot, Jr and Gus. |
we d. Letellier, compt tent witnt s ses who have |
sned with the said parties and ME, notary after |
sding tine whole. ~
Original s;gre'
G. CAST
J. VILLAvOSO,
q. PITARD |,
j. A. FERNANDO
LCCIEN MOLLO
V. DrMOURELLE
JOHN WISER
A. FIrUT. JR III
g. N. LETELLIER,
G. LRGARDEUa, JR.. NJ tary Public. !
l. the undersigned, deputy recorder of mort. | I
ges IN and for this city OF New Orleans ard par. |
of Orleans. State of Louisiana, do hereby Ger. .
y that the foregoing ameudu, mt of the charter |