The herald. [volume] (New Orleans, La.) 1905-1953, 1915-03-04
CHARTER
OF "GERSoN REALTY COMPANY, INC"

Of New Orleans
he it known, That on this l9th day Of the
month Of January, IN the year one thousand
nine hundred and fifteen, before me. Ihco-
dore \. SChuher, notary public. duly com
mlssIuucd and qualified, IN and tor the Par
sh OF Orleans, State OF Louisiana, aforesaid
therein residing, and in the presence OF the
Witnesses hereinafter named and under
signed. personally came and appeared the
several parties whose names are hcreuuto
subscribed. and scycrally declared that avail
ing themselves of the laws OF the State of
Louisiana, IN such cases made and provided
they have Covenautcd and agreed and do bv
these presents covenant and agree and bind
themselves As well as such other persons As
may hereafter become associated with them
TO form 4 corporation and body polite IN
law, for the objects and purposes and under
the articles and stlpulatiOns following, to-
ARTICLE THE name of this corporation
shall be "GerSon Realty Co., Inc" and
under ITS SAID corporate name II shall have
power and authority and to enjoy corporate
existence and succession for the full term
and period OF ninety-uine 90 years, from
and after the date hereof, to contract, to
| sue and be sued, to make and use a cor
porate seal, and the same To alter and break
at pleasure. to hold, TO receive, purchase.
| hypothecate, convey, sell, lease or pledge real
and personal property, to issue negotiable
bonds and notes other evidence OF debt
to name and appoint such managers. agents,
directors and officers as Its business inter
est and convenience may require; to make
| and establish as well as alter and amend
from time to time such bylaws, rules and
regulations for the proper government Of the
! AFFAIRS OF tins corporation as may be ueces-
Sdry and proper.
ARTICLE 1.-THE domicile OF this cor.
poration shall be IN the City Of New Or.
| leans, State OF Louisiana, and all citation
and other legal process shall be served upon
| the president OF this corporation, or in the
! event of his absence upon the secretary.
| treasurer thereof, and in the absence of botf
| a. -. !.
| ARTICLE III.-Thc objects and purpose,
| tor which this corporation i organized and
| the nature Of the business 10 he carried ar
| by 1t are declared to be:
| Inc dealing IN, acquiring, purchasing, hold
| ing, selling, mortgagIng, bonding leasing
| manufacturing. alternating, improving. devel
| oplng or in anywisc encumbering real estate
| III any Of the forms that may be deemed mos
| advantageous for the purpose Of Carryins
| out Its business and to hold sell, mortgage
| lease or purchase improved or uuimproyc,
| properties of any kind, within the State M
! Louisiana, and to develop. reclaim, drain o,
| cultivate any lands held or acquired by il
| 10 contract for dredging, the construction OF
| canals and leveeS and any other coustruc
| tOn or engineering work connected with al
| collateral To land reclamation. and in sucl
| connection To operate railroads tramWays
| ana navigation canals, 10 build roads an,
| Hlsnwdys' 10 construct wharveS, warehouses
| landings, piers, station houses, and other i'm
| pToNementS necessary, and to use and operate
! all Heating crafts the need, of the busi
/ ness may dictate. In furtherng the object.
| and purposes OF this corporation il shall hay,
| the night to extend the operation Of its affair,
| TO any point within the state which NAV b,
| deemed advisable or within the state as il,
| necessities may require, at which poin
/ branches may be established 1t shall hay,
| the authority to contract for the construction
OF all necessary constructions and edifces I,
| dcNSIOp town sites IN connection with tn,
| work OF reclamation and developing and I,
a 81 asaFE Il, 1
| convenience Of the inhabitants and in gcn
| erai To do any and all things that NAV b,
| incidental TO any OF the lines of busines
heretofore set forth; This corporation j
further authorized to deal in the purchase an,
| sale OF stocks and bonds, and other secrri
ties and commercial paper, and act as finan
clal agents for any other corporation, firm
| or individual.
ARTICLE IV.-The capital stock of thi
| corporation is hereby fixed at the sum o
| FIFTY Thousand CS50,OOOO) Dollars, divide,
INTO and represented by Five Thousand IS.
OUl shares OF stock at the par value of TIE,
| $1,000 Dollars per share Said stock shall
be paid for in cash at such time, and afte
| such notice to the subscribers as the boar,
Ioi directors may fix, the same may b
| issued at not less than par value for labo
done or services rendered for the said cor
Poration or property rights actually receive
| by said corporation
The amount to which the capital stock ma
| be increased shall at no time exceed ON
| Dollars.
This corporation shall become a going con
Germ, and shall be authorized to commenc
| business when and soon as Twenty Fiy
Thousand CS25,0OOOO Dollars of its capita
stock shall have been subscribed and PAL
for. F"
ARTICLE V.-All of the corporate power
OF said corporation shall be vested in an
exercised by board of directors to be com
posed OF not more nor less than FIVE g
stocknolders, a majority of whom sitting a
any tine snail constitute quorum, said direc
tors to be elected annually on the secon
Monday IN January, beginning with the yea
| 1916. Each stakeholder shall be entitled !,
person; or by written proxy, to one vote o.
| each share of stock owned by him and stand
ing in his name on the books of the corpora
| ton. All elections shall be held under sue
| rules and regulations as may be determine
by the board of directors but, after legal no
to each stakeholder by mail sent TO his las
known address, or by publication in tn
English language in the City of New Or
leans, for at least IS days preceding sue
| election. The directors thus elected shall
continue in office until their successors shall
| have been duly elected and qualified n
failure to elect shall be regarded as a for
TEXTURE of this charter. Any vacancy occur
ing on said board of directors shall be file
by the remaining directors for the unexpire
term. Said board of directors shall at it
hrst meeting after its election, elect from il
members president, two vice presidents,
|
shall have the right and power to dismis
and appoint such clerks and employees O
the corporation, as conditions may justif
or the business of the corporation may re
quire. The tenure of the Office of all EN-
ployees of the corporation shall be durin
the pleasure of the board of directors. TIL
| board of directors may from among its mum
Der appoint an executive committee, whic
said committee, shall consist of three Is
members, including of the officers of tn
corporation, and the board of directors ma
delegate such managerial powers as it deem
| necessary to the executive committee, sha
| report at each meeting of the board of direC
tors. The said board of directors may nam
and appoint such other committees as it ma
deem necessary for the purposes of the bus
| ness of this corporation.
| ARTICLE Vino stakeholder shall eve
be held liable responsible for the cor
tracts, faults or debts of this corporation
nor shall any mere informality in its organ
cation have the effect of rendering this cha
ter null, of exposing its stockholders
any liability beyond the unpaid balance du
| on the shares OF stock owned hy them