The herald. [volume] (New Orleans, La.) 1905-1953, 1915-01-21
CHARTER.
RURAL & URBAN REALTY, INC.
State Of Louisiana, Parish OF Orleans.

RURAL & URBAN REALTY, INC.
State Of Louisiana, Parish Of Orleans.
Re it known, That on this l4th day OF the
month Of December in the year thousand
nine hundred and fourteen, Before me, Theo-
dore A. Schuber, Notary Public, duly com
missIOucd and qualified, IN and for the Par
ish OF Orleans, State Of Louisiana, aforesaid
therein residing and IN the presence OF the
witnesses hereinafter named and undersigned
Personally came and appeared, The several
parties whose names are ncrcuntO subscribed,
and scverally declared that availing them-
selves of the laws of the State of Louisiana
in such cases made and provided, they have
coyenanted and agreed and do by these pres
ents covenant and agree, and bind themselves
as well as such other persons as may here
after become associated with them, 10 form
corporation and body polite in law, for the
objects and purposes and under the articles
and stpulatiOns following, to-wIt:
Article 1.-The name of this corporation
shall be Rural & Urban Realty, lnc.," and
under its said corporate name 1t shall have
power and authority to have and to enjoy
corporate existence and succession for the
full term and period of ninety nine (99) years,
from and after the date hereof, to contract,
to sue and be sued, TO make and use cor
porate seal, and the same to alter and break
at pleasure; to hold. to receive, purchase, by.
pOthecate, convey, sell, lease, or pledge real
and personal property; to issue negotiable
loans and notes or other evidence OF debt
10 name ana appoint SuCn MANAGERS,
agents, directors, and officers as its bus
mess interests and convenience may re-
quire; and to make and establish as well ds
alter and amend from time to time such by
laws, rules and regulations for the proper
government of the affairs OF this corporation
as may be necessary and proper.
Article 1.-THE domcile of this corpora
ton shall be in the City of New Orleans,
State Of louisiana, and all citations ana other
legal process shall be served upon the presi.
dent Of this corporation, or in the event OF
his absence upon the secretary thereof, and
in the absence of both of said officers upon
the vice president of the company.
Article 1.-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:
The dealing in, acquiring, purchasing, hold
ing, selling, mortgaging, bonding, leasing
manufacturing, alternating, improving. devei'
oping, or in any wise encumbenng real -es
tate in any one of the forms that may be
deemed most advantageous for the purpose Of
carrying out its business, and to hold, sell
mortgage, lease or purchase improved OF unim
proved properties of any kind, within the state
Of Louisiana, and to develop, reclaim, drain
or cultivate any lands held or acquired by 1t
to contract for dredging the construction Of
canals and levees and any other construction
or engineering work connected with or col
lateral to land reclamation, and in such
connection to operate railroads, tramways
and navigation canals; to build roads anc
highways; to construct wharves. warehouses
landings, piers, station houses, and othei
improvements necessary, and TO use and oper
ate all floating crafts as the needs OF ths
business may dictate; in furthering the OBJ
iects and purposes of this corporation, 1t shall
have the right TO extend the operation OF IT:
affairs TO any point within the State which
may be deemed advisable or without the State
as its necessities may require, at which pom
branches may be established. 1t shall have
the authority to contract tor the construction
of all necessary structures and editices, t.
work Of reclamation and developing and Il
lay out streets. roadways and alleys for thu
convenience of the inhabitants and in gen
eral TO do any and all things that may b
incidental to any of the lines OF business here
tofore set forth.
Article IV.-The capital stock of this cor
poration is hereby fixed at the sum of Tel
Thousand (Sl00O0.00) Dollars, divided int
and represented by One Hundred Q00l share
of stock at the par value OF One HUNDRED
(sl0OO0) Dollars per share. Said stock shall
be paid for in cash at such time, and afte
such notice to the subscribers as the Boar
Of Directors may fix, the same may b.
issued at not less than par for labor dom
or services rendered for the said corpora
ton, or property or rights actually received
by said corporation.
The amount to which the capital stock ma,
be increased shall at no time excee'
Two Hundred and Fifty Thousand S2SO.OO
Dollars.
This corporation shall become a going con
business when and as soon as Five THOUSAND
CSS,OOOOO) Dollars of its capital stock shall
have been subscribed and paid for.
Article V.-All Of the corporate powers o
said corporation shall be vested in and exer
cised by a Board of Directors, TO be compose'
of not more than five 80 and not less thar
three CD stockholders, a majority of whom
sitting at any time shall constitute a quorum
said directors TO be elected annually on thu
second Monday of February, beginning in thu
year 1915. Each stakeholder shall be entitled
in person, or by written proxy, TO one yot'
on each share Of stock owned by him anC
standing in his name on the books of thu
corporation. All elections shall be held un
der such rules and regulations as may be de
tcrmined by the Board Of Directors, but, attic
legal notice Of such election shall have beer
given to such stakeholder by mail sent TO hi
last known address or by publication IN one
of the daily newspapers published in the Eng
lish language in the City OF New Orleans
for at least 10 days preceding such election
The directors thus elected shall continue il
office until their successors shall have beer
duly elected and qualified. No failure t
elect shall be regarded as a forfeiture of thi'
charter. Any vacancy occurring on said BoarC
directors for the unexpired tenn. Said BoarC
of Directors shall, at its first meeting aftei
its election, elect from its members Pres
ident, enc or more Vice Presidents, a Sec
rotary, Treasurer, and a Manager. 1t may
combine the office Of Secretary and Treasurer
into one and may even elect a Secretary who
need not be a stakeholder or director. Said
Board of Directors shall have the right and
power to appoint and dismiss such clerks
and employees of the corporation. including
the Secretary who is not a stakeholder OF
director, as conditions may justify, or the
business Of the corporation may require. The
tenure of office of all the employees OF the
corporation shall be during the pleasure of the
Board of Directors. The Board of Directors
may from among its members appoint an Ex-
ecutive Committee, which said committee
shall consist of three 81 members, including
one Of the officers Of the corporation, and the
Board of Directors may delegate such mana
gerial powers as II deems necessary 10 the
Executive Committee, which said committee
shall report as each meeting of the Boadr OF
Directors. The said Board of Directors may
name and appoint such otner committees as
II may deem necessary for the purpose OF the
business Of this corporation.
Article Vino stakeholder shall ever be
held liable or responsible for the contracts
faults or debts of this corporation, nor shall
any mere inforrnality in it's organization have
the effect OF rendering this charter null, or
OF exposing its stockholders to any liability
beyond the unpaid balance due on the shares
OF stock owned by them.
Article VlI.-1hs act of incorporation may
be changed. modified or altered, or this cor
poration may be dissolved with the assent of
the stockholders owning two-thirds of the is
Suej sfocl Of he rornoratiop n r,eetinO of