The herald. [volume] (New Orleans, La.) 1905-1953, 1912-08-08
CHART ER.
OF THE NORTHEASTERN REALTY CON-
PANY, LIMITED.
UNITED STATES OF AMERICA, STATE
OF LOUISIANA PARISH OF OR

UNITED STATES OF AMERICA, STATE
OF LOUISIANA PARISH OF OR
LEANS, CITY or NEW ORLEANS.
| Be it known, that on this 10Th day OF the
month of July, in the year one thousand
nine hundred and twelve, before me, Henry
George Mccall, A notary public duly COM
miSSiOned and sworn in and for the parish
of Orleans, state of Louisiana, therein resid-
| ing and in the presence OF the witnesses
hereinafter named and undersigned, person
ally came and appeared the persons whose
names are hereto subscribed, who seYerally
| declared that, availing themselves of the
provisions of the laws of this state, relative
TO the organization of corporations, they
have contracted, cOvenanted and agreed 10
bind, form and constitute themselves, ana
| do hereby bind. form and constitute them
selves as well as all such other persons as
may hereafter join or become associated
| with them, into Il corporation and BODY pol
| itic in law, for the objects and purposes and
under the articles, agreements and stipula-
tiOns following, to-wit:
| ARTICLE |.
The name and style of this corporation
| shall be THE NORTHEASTERN REALTY
COMPANY, LIMITED, and under that name
| it shall have and enjoy all the rights, adj
vantages and privileges granted by law to
corporations, and shall exist for the period
| of ninety-nine years from this day. IL shall
have power to contract, sue and he sued TO
make and use a corporate seal, and the
same to break and alter at pleasure; TO
hold, receive, lease, purchase and convey; as
1
property both real and personal; TO issue
bonds, notes and other obligations or nego-
table instruments; to name and appoint
such managers, directors, officers, agents
and other employees as the interest and con-
venience Of said corporation may require or
demand; to make and establish such Dy-
laws. rules and regulations for the manage
ment and control of its business and affairs
as may be deemed necessary or expedlent,
and the same to change and alter at pleas
ure; and to do all such acts and things ne
eessary and proper to carry oqt the OBJECTS
| ARTICLE III.
The dOmicile Of said corporation Is here
| by fixed in the city OF New Orleans, In this
state All citations and other legal process
shall be served on the president, and, In his
absence, on the vice-president, and, In the
absence of both, on the secretary-treasurer
OF the corporation.
ARTICLE III.
| The objects and purposes for which this
| corporation is organized, and the nature or
the business to be carried on by ii, are here
| by declared 10 be: To buy, acquire, own, De,
velop, Improve, build upon, lease and sell
lands and real estate and, generally, to do
and engage in any other business, undertak-
ing or enterprise connected with, growing
out OF. or incidental TO, any OF the purposes
hereinabOve set forth.
ARTICLE ".
! The capitai stock OF said corporation Is
fixed at the sum of fifty THOUSAND dollars:
value Of one hundred dollars each. All
stock shall be paid for in cash, in such
amounts and at such times as may be fixed
| by the board of directors No transfer or
stock shall be binding upon said corporation
unless made upon the books, and all certif-
Gates of stock shall be signed by such offi-
GERS as may be designated by the board OF
directors. The said corporation shall be-
come and he going concern and shall com.
mence business as soon as thirty shares or
its capital stock shall be subscribed for.
i ARTICLE V.
| All the rornOrate mowers of said CORPORA
ton shall be vested In, and the management
and control of its affairs shall be exercised
by, board Of directors, composed or three
1 least ten shares Of stock, and the directors
shall be elected annually by the stockhold-
ers by ballot, on the second Monday of
January-the first election to be In 1913.
Notice shall be given by mail. addressed to
| each stakeholder at his place or residence
as shown on the books of the corporation,
said notice to be mailed not less than two
weeks before such elction-
All elections shall be held under such
rules and regulations as may be fixed by the
board of directors provided that each stock
holder shall be entitled, in person or by
held by him, and a majority of the votes
| cast at such meeting shall elect. The per-
sons thus elected shall be and constitute
the board OF directors, and shall continue In
Office for one year, and until their success
ors shall have been duly elected. In case OF
any failure TO hold an election, as above
provided, such failure shall not forfeit this
charter, but an election shall be held as
soon as may he practicable, after notice as
above provided.
/ Each board Of directors, at It's first meet
i ing after each election, shall elect from its
number a president and a vice-president ;
and shall also elect a secretary-treasurer,
who, may he a member OF the board or not,
as the directors see fit.
| a majority Of the directors shall cOnsti-
tute a quorum for the transaction of all
business and any vacancy occurring on said
board shall be filled by the remaining direc-
tors for the unexpired term. The said
board. or such officer or manager as 1t may
designate, shall appoint such officers. mana
gers, clerks and other employees OF said cor
pOratiOn as may be necessary for its busi-
ness and shall dismiss the same: and the
tenure of Office and employment of all Off
GERS. managers, clerks and employees shall
be during the pleasure of said board.
The said board shall have the right and
power to buy, sell, improve, contract, lease,
borrow money, issue bonds and execute mort
cages, and in general, to exercise all the
powers of the corporation, as well as TO
carry out its objcts and purposes-ail with
out reference to or authorization by the
stockholders. From time to time, said board
shall adopt rules, regulations and bylaws,
for the management and control or the busi-
ness and affairs Of said corporation, and, In
its discretion, shall cancel, change and mod
ify the same.
/ No stakeholder shall ever be held liable
debts of said corporation nor shall any
mere informality In its organization have
the effect Of rendering this charter null, or
of exposing any stakeholder to any liability
beond the unpaid balance, II any, due on the
shares owned by him.
ARTICLE VII.
Il This act Of Incorporation may be changed,
modified, or altered, or said corporation may
be dissolved, with the assent of stockholders
owning threefourths of all the stock OF the
corporation, whose owners are present and
represented at a general meeting convened
for that purpose, after ten days written
notice of such meeting has been given
Through mall addressed to each stakeholder
at his place of residence, as shown on the
books of the corporation. In case Of disso-
luton, whether by expiration Of this char.
ter or otherwise, the stockholders shall
elect three liquidators from among their
number, to liquidate and settle the business
and affairs Of said corporation. In case OF
death or disability of any of said liquidat-
ors, the survivors or the remaining liquidat
ors, shall appoint successor to such liqui-
dator. Said liquidators are hereby given
full power, either by court or law proceed
ings or without such proceedings, as they
shall elect, TO collect all amounts due the
corporation, sell or otherwise dispose Of Its
assets. pay it's debts and liabilities, and
compromise and settle all disputed questions
and matters as we'll as all other powers