The herald., 1915-04-22
AMENDMENT TO THE CHARTER
OF THE EQUITABLE HOMESTEAD
State. Of Louisiana, Parish of Orleans, Cit

AhENDmENI ~ IhE CHARTER
OF THE EQUITABLE HOMESTEAD
ASSOCIATION
State OF Louisiana, Parish of Orleans, City
Be it known that on this tenth day of the
month OF March in the year one thousand
nine hundred and fifteen OBS before me.
Nynne u. Rogers, a notary public within
and for the Parish of Orleans, State OF
louisiana, duly commissioned and qualified
and IN the presence OF the witnesses herein
alter named and undersigned, personally
came and appeared First Mr.. William {.
Ermon, OF full age Of majority, residing in
New Orleans and president OF the Equitable
Homestead Association; Second Mr. Edwin
r. Beauvais, also of full age OF majority and
a resident OF this city and secretary of the
said Equitable Homestead Association. Which
SAID parties appear herein under and by vir-
tue OF the authority in them vested by
resolution adopted by the board of dlrec-
tors of the said Equitable Homestead Asso-
clau3n at a meeting held on the seven.
teenth day of February 1915 At the office of
sand company in the city OF New Orleans,
the said resolution being adopted in confor-
, NIFTY to and to give effect to the resolutions
and actions OF the stockholders of the said
Equitable Homestead Association held at the
offce OF said company the 18th day OF
January 1915 for the amendment and reenact-
nent OF Article III OF the charter and also
the amendment and reenactment of Article V
OF the charter of the said Equitable Home
stead Association, and which resolution of the
board of directors OF said company autho-
rotary to appear before me, notary, to put
said changes amendments and reenactments
OF record in authentic form, a, copy of the
said resolution of the said board OF directors
duly certified by the president and secre
tary IS hereto annexed as part.
And the said appearers IN their respective
capacities declared that in conformity with
votes action and resolution of the stockhold-
erS of the said Equitable Homestead Asso-
citation held on the said eleventh day of Jam
uary 1915 and the resolution adopted by the
hpg ard nf NJ Old h1a
stead Association on the seventeenth day of
February 1915 and in furtherance of their
instructions Articles III and V of the charter
OF the Equitable Homestead Association exc
cuted before William Renaudin, late notary
public in the Parish OF Orleans on the eleventh
day of May 1910 and duly recorded in the
mortgage office of the Parish of Orleans in
book 9S4 folio 4O2 ct seq be and the same is
hereby altered, amended and re-enacted to
read as follows:
Article III.-The object of this association
shall be the accumulation of fund from the
weekly installmentS account of the sub
scrlptions TO the capital stock, rentals, bon
uses, interest on loans and other sources,
the fund SO accumulated to be used for the
purchase and sale OF real estate, the build
ing, renting and sale of homesteads, and the
lending of funds upon mortgage security on
the Parishes of St. Bernard and Jefferson
and upon shares of this corporation as pro-
vided by the bylaws. No loan shall be made
except to shareholders, and no loan for a sum
greater than the face of the shares
owned by the borrower. All loans shall be
made under the control and direction of the
board of directors, who shall have the power
to make such rules, regulating the same as
II may deem necessary and expedient.
Article V-The corporate powers of the
| association shall be exercised by a board
of directors to consist of not more than thirty
| FIVE stockholders, each of them owning at
least ten shares in his name, who shall
be elected by the stockholders the second
Monday of January of each year. Any direc-
shares
| facto forfeit his seat on the board of direc-
| tors.
Notice of said election shall be given for
the space of (l0 ten days by publication in
| one Of the daily morning papers published in
] the City of New Orleans. Said election shall
| be by ballot and shall be held at the domicile
three stockholders appointed by the board
| of directors at the last preceding regular
meeting thereof, who are not candidates for
election, the stockholders receiving ma
jority Of the votes cast shall be declared
elected The failure TO hold an election on
the days specified shall not dissolve the cor
over until an election be held after ten days
| notice of the time and place thereof.
The board of directors shall elect from their
| number a president a first vice president, a
| second vice president, the board of directors
| shall also elect a secretary-treasurer an at
| torney and notary, who may or may not be
| members of the board of directors they shall
| appoint such other officers and employees as
may be necessary, who shall hold office dur
| ing the pleasure Of the board. They shall FIX
| the compensation of all officers and en-
| ployees, and they shall have power to enact
| bylaws not repugnant to this charter, 10
| select a place of meeting, to suspend any
| officer for neglect of duty misconduct, and
| in case of any vacancy occurring on the board
| among the officers, from death, resignation, re-
| moval or any other cause, the directors shall
| have the right to fill such vacancy, and shall
have general authority to carry out the object
! and business of the association. But they
| shall not have the power to purchase real
| estate for cash not to contract any indebted
| ness without the affirmative vote of at least
\ FIVE directors and then only in furtherance
| of the usual and proper business of the as
| ISOLATION. Seven directors shall constitute
| a quorum at all meetings of the board.
| Thus done and passed III my office at the
| City of New Orleans on the day, month and
| year herein first above written IN the pres
ence of P. R. Ferrea and A. E. Carey, com
petent witnesses of lawful age who, together
with said appearer and me, notary, have
| signed their names after due reading of the
whole. Original Signed) VIM. c. Ermon,
Pres; Z. p. Beuavais. Sec; witnesses: p
R. Ferrera, A. E. Carey. Wynne G. Rogers,
| Not. Pub.
| l, the undersigned, Recorder of Mortgage:
| in and for the Parish of Orleans, dc
hereby certify that the above and fore
| going amendment to the charter of the
| Equitable Homestead Association was this
day duly recorded in my. Office BOOK llS1
| folio 7S. New Orleans, March 18th. 1915.
| (Signed) Emile ]. Leonard, by. X.
record in my office. New Orleans, March
| 18th, 1915. Wynne G. Rogers, Not. Pub.
| April s-l5-2229 May 6-l3