The herald. [volume] (New Orleans, La.) 1905-1953, 1915-04-15
AMENDMENT TO THE CHARTER
OF THE EQUITABLE HOMESTEAD
ASSOCIATION

State of Louisiana, Parish OF Orleans, City
OF New Orleans.
month of March in the year one thousand
nine hundred and fifteen Q9lS) before me,
Wynne G.. Rogers, notary public within
and for the Parish OF Orleans, State OF
and in the presence of the witnesses herein
after named land undersigned, Personally
came and appeared: First. Mr. William I.
Ermon, of full age of majority, residing IN
New Orleans and president of the Equitable
Homestead Associations; Second, MI Edwin
X. Beauvas, also of full age of majority and
said Equitable Homestead Association. Which
said parties appear herein under and by VIZ
tue OF the authority IN them vested by
resolution adopted by the board OF direc-
tors of the said Equitable Homestead Asso-
citation at a meeting held 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 contor-
nifty to and to give effect TO the resolutions
and actions of the stockholders OF the sald
Equitable Homestead Association held at the
January 1915 for the amendment and reenact-
nient Of Article Ill of the charter and also
| the amendment and reenactment OF ARTICLE
| of the charter OF the SAID Equitable home
| stead Association, and which resolution OF the
board of directors of said company autho-
! rized and directed the said president and sec
rotary to appear before me, notary, 70 Pt
of record in authentic form, 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 stocknold-
ers of the said Equitable Homestead Asso-
| citation held on the said eleventh day OF jan
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 Ia, late ,a n0eaf
day of May 1910 and duly recorded IN the
| mortgage office of the Parish OF Orleans IN
| book 984 folio 4O2 ct seq be and the same is
hereby altered, amended and re-enacted to
Article III.-The object of this association
| shall be the accumulation OF a fund from tne
| 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 ouiid-
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 n
vided by the bylaws. No loan shall be made
except to shareholders, and no loan tor sun
greater than the face OF the snare e.
made under the control and direction OF the
board of directors, who shall have the power
TO make such rules, regulating the same a.
il NAV deem necessary and expedient. -,
Article V.--The corporate powers OF tht
association shall be exercised by boaro
of directors to consist of not more than thirty
FIVE stockholders, each of them owning a.
least ten shares in his own name, who shall
be elected by the stockholders on the SECOND
Monday of January of each year. Any diIec
tor ceasing to own ten shares snail ipsS
facto forfeit his seat on the board of direc
tors. ., -. E.
Notice of said election shall be given TO-
the space of Q0) ten days by publication u
one of the daily morning papers pu6hshed u
|, the CITY of New Orleans. Said election snai
be by ballot and shall be held at the domicil
. Of the Corporation, under the supervision o
three stockholders, appointed by the boar
of directors at the last preceding reguia
! meeting thereof, who are not candidates 10
/ election, the stockholders receiving ma
iority of the votes cast shall be declare
, elected. The failure to hold an election o.
the DAYS specified shall not dissolve the COZ
, noration, but the directors in Office shall mol
: over until an election be held alter ten Day
r notice of the time and place thereof
The board of directors shall elect from tnei
number a president a first vice president,
: second vice president, the board OF director
2 shall also elect secretary-treasurer an a.