The herald., 1914-07-30
CHARTER
OF CONSERVATIVE HOMESTEAD ASSC
CITATION.

OF CONSERVATIVE HOMESTEAD ASSO-
United States Of America, State of Louisiana,
Re II known that on this eighteenth day cf
the month Of june, in the year one thousand
nine hundred and fourteen, before me, An
drew NJ Buchanan, a notary public, duly
commissioned and sworn IN tor the parish Oh
Orleans and city of New Orleans thereih re
siding and in the presence of the witnesses
hereinafter named and undersigned, person
ally appeared the persons whose names are
hereuuto subscribed, who declared that avail
ing themselves Of the provisions OF inc law
of this state, relative to the organization OF
corporations and particularly those reIatNe 10
the organization of Homestead Assoclatlons'
thew do by these presents covenant, agree,
hind form and constitute themselves and
those who may hereafter become associated
with them, into, corporation Tor the oo)ec's
aud purposes following, to-wit:
Article THE name and title Of said cor
poration shall be the Conservatlon jiolnc' @
stead Association, and under us said cor
porate name shall have power and authority
10 contract sue and 10 be sued; to make ana
use corporate seal, and the same TO preak
or alter at pleasure; to hold receive IeaSe,
purchase, convey, pledge and mortgage, unueI
its corporate name property, both real ana
personal; lend and borrow money; to estao-
iish and maintain out OF its recelPts rom any
source. such special funds as may be deemed
advisable in order TO create sinking, eontin-
cent or reserve funds to cover losses, or 70
meet the liability for redemption or PAYNE oh
of matured shares; to name ana appoint sueh
officers and agents as the interest ana con-
yenience of said corporation may require, "
make and establish such bylaws, rules anu
regulations for the proper management anu
regulation of the affairs OF said corporation
as may be necessary and proper, ana tne salig
10 change and alter at pleasure, ana 10 90 al
such acts and things as are, or may Oe; me-
essary and proepr to carry out the oOJeS's
and purposes OF said corporation.
Article 1.-THE domicile OF sald eorpora
tion shall be in the city of New orleans, III
,bn sfate of louisiana, and all citations o,
other oIf T legal process shall be served upon the
president of said corporation, or IN ms az
Sence upon the vice-president, or, IN the ao-
sence of these officers upon the secretary.
The said corporation shall have corporate
existence for the period OF nlnety-nlne years
Article III-The objects of this corporation
shall he the accumulation OF funds from the
weekly or monthly installments Paid on STOCK
subscriptions, interest on loans, bonuses, Ieh
tails and other sources; the tund SO aoSunS
isted 10 he used for the purchase OF build
ing for the use of this association, the pur
chasing. building, renting and sale OF holne-
seads and other properly anJ TefeTson in
the state of Louisiana, and the lendlng Oh
funds upon mortgage security IN the sald par
ishes, and upon shares OF this tn borrorS
money in the discretion Of IT'S board OF direv- %
tors by pledgng its securities, or IN any othei
manner, and generally 70 a? an tn,nSS
under the general laws OF this state.
Article IV.-The capital stock OF thls Ssr
poration shall be five million dollars SSgDo, SSS,ggo
dollars $1,000 each, TO be ISSUED IN TWO
forms. 'sPaid Up" and Current Current
stock shall be paid for in weekly or monthly
installments and shall be issued IN such man
ner as may be fixed by the bylaws; PROVIDES
that additional payments may be made a.
any time or in any amount at the optlon 9i
The shareholder. Paid up stock shall be paid
for in full at the time OF issue. Minors ana
married women may hold either KIND OF
stock in their own right. Payments on cur,
rent shares, installmenis ana i.tT in.SLTs' ,be
office OF the association, and all payments
made shall be imputed O to the reimburse
ment Of moneys paid Tor account oL L3lC sn4iC
holders, for taxes, insurance or otheTwise 4,
11) to the settlement of interest due; (S) 10
the installmcnts and payments on shares )
provided that the order of imputauon may DC
changed at the discretion oil the Ooaru VI
Shareholders shall have the right to with
draw from the association the amount p1lu
in together with hte accumulated prohts que
thereon at the preceding dividend time, less
any charges and proportion OF losses u any any
upou filing written notices OF withuIa"@"
which shall be registered by the seeleLaly IN IN
the order Of their receipt, and Withdrawing
shareholders shall be paid IN rotation, as reg
istered out OF the first unappr0r'ated nionsy
in the treasury. Provided, that nor more @
than one-haf the monthly receipts shall ever
be used for the purpose of llquidating ma
tured, Withdrawn or paid up stock shares un-
less there should be an over-accumu!aton OF
funds which cannot be loaned IN the usual
manner upon real estate
Should there be an over accumulation OF
funds beyond the use of the association, the
sbsres Tor redemption, provided that paid up
Shares shall frst be called in, in the reverse
order of their issue, and shall be redeemed
for face value, plus interest for the tune IN
terveuing since the last dividend period at a
rate to be then determined by the board OF dl-
rectors: and should all paid up shares be re
deemed then current shares may be called
in. the oldest shares 10 be redeemed trst and
al their withdrawal value plus interest for
the time intervening since the date OF the
last dividend. at a rate to be then deter,
mined by the board of directors. Shares shali
he Transferable and duplicate certificates is
sued for lost certificates, in such maner as
may be provided in the bylaws.