The herald., 1915-04-29
AMENDMENT TO THE CHARTER
OF THE EQUITABLE HOMESTEAD
= N . 4 4 N d Z z II
ASSOCIATION

AMENDMENT TO THE CHARTER
OF THE EQUITABLE HOMESTEAD
ASSOCIATION
State of Louisiana, Parish OF Orleans. City
OF New Orleans.
BE it known that on this tenth day of the
month OF March in the year one thousand
nine hundred and fifteen Q9lS before me-
Nynne g. Rogers, a notary public within
and for the Parish of Orleans, State OF
Louisiana, duly commissioned and qualified
ana IN the presence OF the. witnesses herein
after 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
X 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 yir-
tue OF the authority in them vested by a
resolution adopted by the board of direc-
tors OF the said Equitable Homestead Asso-
clau9n at meeting held on the seven.
teenth day of February 1915 at the Office Of
SAID company in the city of New Orleans,
the said resolution being adopted in confor-
, NIFTY to and 10 give effect to the resolutions
and actions of the stockholders of the said
Equitable Homestead Association held at the
office OF said company on the 18th day Of
January 1915 for the amendment and reenact-
ment OF Article Ill 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
DOdTu OF directors OF Sdld company authO-
rized and directed the said president and Sec
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-
cation held on the said eleventh day of Jam
uary 1915 and the resolution adopted by the
board of directors of said Equitable Home
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 +02 ct seq be and the same is
hereby altered, amended and re-enacted to
read follows:
Article III.-The object of this association
shall be the accumulation or fund from the
weekly installments account of the sub
scriptions 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
real estate in the City of New Orleans, or in
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 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
1t 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
tve stockholders, each of them owning at
least ten shares in his own name, who shall
be elected by the stockholders on the second
Monday of January of each year. Any direc-
tor ceasing to own ten shares shall ipso
facto forfeit his seat on the board of direc-
tors.
Notice of said election shall be given for
the space of Q0) ten days by publication in
the City of New Orleans. Said election shall
be by ballot and shall be held at the domicile
of the corporation, under the supervision of
of directors at the last preceding regular
meeting thereof who are not candidates for
election, the stockholders receiving ma.
jGrity of the votes cast shall be declared
the days specified shall not dissolve the cor
poration, but the directors in Office shall hold
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
| 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, to
select a place of meeting, to suspend any
officer for neglect of duty or 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 hll 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
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 in my Office at the
| City of New Orleans on the day, month and
year herein first above written in the pres
, 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; +. p. Beuavais, Sec; witnesses: p
R. Ferrera, A. E. Carey. Wynne G. Rogers,
/, the undersigned, Recorder of Mortgages
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 ll57
folio 78 New Orleans, March 18th, 1915.
(Signed) Emile J. Leonard, by. r:
A true copy of the original on file and OF
record in my Office. New Orleans, March
25th, 1915 Wynne G. Rogers, Not. Pub.
April S-l5-22-9 May 6l5
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