The herald. [volume] (New Orleans, La.) 1905-1953, 1914-11-05
CHAR TER
OF THE POLO DUCK CLUB.

OF THE POLO DUCK CLUB.
! United States Of America. State Of Louisiana
! Parish OF Orleans, City OF New Orleans
BE it known, that on this first day of the
! month OF October, in the year OF Lord
| one thousand nine hundred and fourteen
| NSlll, and OF the independence of the JuIted
| States OF America the one hundred and thirty
| ninth, before me, Arthur Il. Leopold notary
! public, IN and for the parish OF Orleans, city
| OF New Orleans, state OF Louisiana, dul y
! commissioned and qualified, and III the pres
| eUce OF the witnesses hereinafter named and
uuderSIg ned. personally came and appeared.
| the several persons whose names are hereuntO
subscribed, who seyerally declared that avail
ing themselves Of the provisions OF the laws
| OF this state relative to the organization and
formation OF corporations, they do by these
presents, for themselves, their associates, sue
ceSSoTs and assigns, as well as for such other
persons who may hereafter become associated
with them, form and organize themselves into
ana constitute corporation under the laws
| of the state of Louisiana for the purpose and
under the StIpulatIouS and agreements here
matter set forth and expressed, which they
hereby adopt this charter or articles Of
Incorporation, tO-wlt:
Article The name and title OF this cor
poratou shall be the Polo Duck Club; and
under that corporate name, 1t shall have and
enjoy corporate existence and succession for
| the term OF nuety-nlne years from and after
the date OF this act; to contract, sue and be
sued; to make and use corporate seal, and
the same TO break or change at pleasure; to
hold IN fee otherwise. receive, lease, pur-
chase, sell and convey, as well as mortgage,
hypotheCate and pledge property, real and
personal; 10 issue stock and bonds therefor !;
10 borrow money and TO issue notes bonds
therefor; to name and appoint such managers,
directors, officers or agents the interests
OF sand corporation may require; to establish
such bylaws, rules and regulations for the
proper management of the affairs OF this cor
pOTdtlOn as may be necessary and proper, the
same TO alter at pleasure; and generally to
do and perform all such acts may be proper
and necessary to carry out and execute the
purposes OF this corporation.
Article 1.-THE objects and purposes for
which this corporation i established are de
clared to be to promote and foster athletic
and other like exercises, gun practice, hunt
ing and fishing and social intercourse and 10
that end and purpose. to buy, sell, erect, own
lease and otherwise acquire and ALLEVIATE, and
TO maintain and operate one or more club
houses with appurtenanCes. including game
preserves, grounds, oUthouses, boats, bath
houses, wharyc-. lighthouses, walks, ponds
wells, etc, provided that the aggregate value
OF the property established shall not rN-
coed the sum OF three hundred thousand dol
lars (S50OOOOOD.
Article III-The domicile Of this corpora
ton shall be at the city OF New Orleans, IN
the parish of Orleans, state OF Louisiana.
The president of this corporation. and in his
absence, the vice president, and in the absence
Of both OF them, the secretary Is designated
as the officer upon whom service OF citation
or any other legal process shall be made.
Article IN.-Thc capital stock OF this cor
pOratInn Is hereby fixed at twenty-five thou
sand dollars (S25OOOOO), divided into one hun
dred 600 shares of par value OF two hun
bred and fifty dollars (S25OOO) each, which
shares OF stock shall be paid for in cash, at
such times, and IN such amounts as the gov
erning committee may determine. Each share
OF stock shall be liable to a prO-rata assess
ment at the discretion of the governing COM
mIttee, for the purpose Of paying the neces-
ling pt rlf md
taxes, insurance, repairs and necessary eX-
pense for the proper care of the property OF
the club, provided that the assessment
made shall not exceed the sum OF fifty dollars
tS5OOOD upon each share of stock IN any one
year. In addition to the assessment Of 5000
per year IN any one year, the governing COM
mittee with the consent of nifty per cent
5000 OF the capital stock of the club may
levy and collect further assessment in any
one year of not exceeding twenty-five dollars
(S2S.0O) per share of stock. The regular assess
ment and the special assessment shall be due
and psayble on such terms and under such
conditions as the governing committee may
FIX, and upon the failure of any stakeholder
to pay any assessment levied by the govern
ing committee aforesaid, on the share or
shares of stock held by him, the governing
committee shall have the right to sell such
share shares of stock after thirty days
written notice TO the shareholder, at public
sale for his account and risk, and the net
proceeds thereof shall be applied to the pay
ment of any unpaid assessments due on said
share shares of stock, and all assessments
or dues levied by the governing committee,
shall constitute a lien upon the stock upon
which said assessment remains due and I'M
paid.
The whole of said stock, or any part there.
OF. may be issued and delivered to any per.
son, firm corporation for the requirement
of rights, privileges, franchises and property,
or any part thereof leased or controlled by
the Polo Duck Club to any other person
or corporation having property rights and
purchased m.
also for cash; or in installments of such
amounts as the governing committee may de.
termine.
The governing committee, by this charter
created, is specially authorized to dispose OF
the stock for any of the purposes above stated,
in its judgment seems mt, and such sale
shall as far as possible or practicable, in the
opinion of the governing committee, be made
to nonresident subscribers, the governing
committee shall be authorized to sell the re-
naming shares of said stock to residents.
The shares of the capital stock of this cor
poration shall be paid for in money, or for
labor done services rendered, such shares
as may be issued or delivered for other prop
erty rights and franchises to be taken, ac-
cepted and received by the corporation for its
corporate purposes at such valuation and upon
such terms for said shares as the board of
directors may determine and direct from time
to time to be eXpedient. The capital stock
of the corporation may be increased or re-
duced by proceedings taken in the manner
The shares of the capital stock of this cor
pOratlon may be issued for money, for labor
done services rendered or for other prop
erty rights and franchises, which may be thus
paid for or exchanged and made over to the
company. The valuation of any and all
rights, contracts, labor or services and prop
erty, movable, immovable and mixed. corpo-
real or incorporeal, accepted and received by
the corporation for its corporate purposes in
payment, exchange or otherwise for any of
the shares capital stock of this corporation
and fixed by the board of directors upon such
terms and conditions for the issuance of such
shares of stock shall be conclusive evidence
of such valuation; and any and all persons,
partnerships, associations, corporations, stock
holders or creditors dealing with this corpora
ton are concluded thereby, and any and all
persons, partnerships, associations, corpora
tions, stockholders or creditors dealing with
this corporation hereby waive any right OF
cause of action against the original or subsc-
quent owner owners of such shares of the
capital stock issued to it, him, her, or them,
in payment or exchange for labor done or SER
vices rendered, for such rights, franchises,
credits, contracts and property valued by the
board of directors aforesaid; and each, ev-
cry and any and all contract, contracts, or
4 4