The herald., 1912-08-08
CHARTER
OF "KENTW0OD LAND AND DEVELOP
MENT COMPANY"

MENT COMPANY"
UNITED STATES OF AMERICA. STATE
OF LOUISIANA, CITY OF NEW OR
BE II known that on this twenty-second
day OF January, 1912, the undersigned per-
sons whose names are hereto subscribed,
VINO declared that awaiting themselves OF
the provisions of the laws Of this state. in
such cases made and provided relating TO
the organization Of corporations they have
covenanted and agreed, bind, form and con-
stltute themselves as well as such persons
that may hereinafter join, or become asso-
clated with them, into a corporation and
body polite in law, for the object and pur-
poses, under the agreement and stipulations
ARTICLE I.
Inc name and style Of this corporation
shall be "kentwood Land and DEVELOPMENT
company, and under that name it shall
have and enjoy all the rights, advantages
and privileges granted by law to corpora
tions; 1t shall exist for a period of ninety
nine years from this date; 1t shall have
power 10 contract, sue and be sued in its
corporate name; to make and use a corpor-
ate seal, and same to break or alter at
pleasure; to hold, receive, purchase, con.
yey, mortgage, hypothecate, or pledge prop
cry real and personal to issue bonds. notes
and other obligations or negotiable instru-
ments; TO have and employ such managers,
directors, officers, agents and other EN-
ployees as the interest and convenience of
to make and establish such bylaws. rules
and regulations for the corporate manage
ment and control Of the affairs of the cor
poration as may be deemed necessary or
expedient.
ARTICLE III.
The domlcile of the said corporation shall
be In the city of New Orleans, in this state
but 1t may establish offices and agencies
throughout the United States or Foreign
countries. All citations and other legal pro
cess shall be served upon the president. and
In his absence on either the vice president,
secretary or treasurer of this corporation.
ARTICLE III.
The objects and purposes for which this
corporation Is organized and the nature of
the business to be carried on by II are
hereby declared to be, to deal in, buy, sell,
lands, real estate, tenements for its own
account and for the account of others; to
lease, hire or rent property to make leases
10 lend money on real property; to improve
ana reclaim landed property; to lay out
town lots or suburbs, pave streets. side
walks and alleys, and generally, to do and
engage In any other business, Undertaking
or enterprise connected with, or growing
out OF, germane or incidental to any of the
purposes hereinabove set forth, or contem-
plated by this charter:
ARTICLE w.
Tne capital stock of this corporation Is
nxed at the sum Of thirty-two thousand two
hundred dollars 1892 ,2O0.OO) divided into
overweight hundred shares of eleven dol
lars and fifty cents each, which shall be
paid In cash, or installments
All shares shall be full paid and nom
assessable. No transfer Of stock shall be
binding on the corporation, unless made
upon the books Of the corporation, and ali
certificates Of stock shall be signed by the
president, secretary and treasurer
ARTICLE V.
All the corporate power of the company
snail be vested in and the management and
control of its affairs shall be exercised by.
a board OF direct composed Of three stock.
holders which number may be Increased to
not more than five at the discretion Of the
board Of directors. majority Of the d.
rectors shall constitute quorum for the
transaction of all business. The directors
shall be elected annually by ballot, by the
stockholders on the third Tuesday Of the
month Of January each year. Each stock
holder shall be entitled to one vote BY proxy
or In person, to vote for every share owned
by him, and all elections shall be held un-
Ger suen rules and regulations as may be
determined by the board Of directors, but,
after ten days notice by mail Of such cleo
tion shall have been sent to each stock
holder at his last known address.
The directors thus elected shall continue
In office for one year, or until their sue
cessors shall have been duly elected ana
qualified. No failure to elect shall be re-
garded as forfeiture Of this charter Any
vacancy occurring on said board shall be
hlled by the remaining directors for the
elect the additional members in case they
should determine to increase the number Of
the board, as above provided.
The said board Of directors shall at its
first meeting after fits election, nominate
dent, secretary and treasurer; it may com
bine the last two mentioned offices into one
and may even elect secretary who may not
SAID beard sSalI have the right to appoint