The herald., 1916-10-05
CHARTER
OF GREATER METAIRIE LAND AND
DEVELOPMENT Co, INC.

OF GREATER METAIRIE LAND AND
DEVELOPMENT CO, INC.
United States of America State of Louisi.
ana, Parish OF Orleans, City of New Or
leans.
Be it known. that on this twenty.frst day
Of the month of August, in the year one
thousand nine hundred and sixteen. before
me, Charles SChneldau, 4 notary public, duly
| commissioned and qualified in and for the
| parish OF Orleans, State of Louisiana, there
! IN residing, and in the presence OF the wit
| nesses hereinafter named and undersigned:
personally came and appeared: The persons
! whose names are hereunto subscribed, who
| declared that availing themselves OF the
| provisions OF the laws OF this state, in such
| cases made and provided, relating to the or
sanization of corporations, and more partic-
ularly Act 267 OF the General Assembly of
| the State, approved July 8. 1914, they have
covenanted and agreed, and do, by these
| presents, covenant and agree, bind form and
| constitute themselves as well as such per-
! sons who may hereafter Join or become asso-
siated With them into a corporation, and
| body polite in law, for the objects and pur-
poses and under the agreements and stipula-
| tons following, to-wit:
Article 1.-The name and style of this cor
Poration shall be: Greater Metairie Land &
name 1t shall have and enjoy all the rights
| advantages and privileges granted by law to
| corporations; II shall exist for the period
| OF ninety-nine years from this day; il shall
1
| ITS corporate name; to make and use a cor
| porate seal, and the same to break or alter
al pleasure; to hold, receive, purchase, con-
yey, mortgage, hypothecate or pledge prop
erty, both real and PERSONAL; TO issue bonds
| notes and other obligations or negotiable in.
strumentS; TO have and employ such mana
| gers, directors, officers, agents and other en-
! ployees as the interest and convenience of
said corporation may require or demand; to
make and establish such bylaws, rules and
regulations for the corporate management
and pnpfrn a. ~ III
| as may be deemed necessary and expedient
Article 1.-THE domicile of said corpora
| ton shall be established in the City of New
| Orleans, State Of Louisiana, and all cita.
lions and other legal process shall be served
on the president, in his absence on the vice
president, and in the absence of BOTH on
the secretary treasurer.
Article lIl.-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: To deal in,
buy and sell and own for its own account or
Tor account OF others, real estate, lands,
tenements and options thereon; mortgage
notes, bonds, shares of stock and other secr.
rites; to lease, rent, hire and manage prop
to construct or erect, or to contract for the
construction and erection of buildings, and
generally to do and engage in any other
business, undertaking or enterprise connect
ed with, growing out of, germane or incl
dental to any of the purposes hereinabove
set forth or contemplated by this charter.
Article lN.-The capital stock of this cor
sand dollars (Ss,OOOOO), divided into eighty
$500 shares OF one hundred dollars (SlOOOO)
each All shares of stock shall be full paid
and non,assessabe. No transfer of stock
shall be binding upon this corporation, unless
made upon its books and all certificates of
stock shall be signed by such officers as may
be designated by the board of directors.
This corporation shall have the right 10
increase its capital stock up to the further
sum of twenty-five thousand dollars (S25,-
0u.0), to be divided into shares OF one hun
dred dollars $4,000 each. provided said in.
authorized by the stockholders at meeting
to be held pursuant to the provisions OF
Article V of this charter.
Article V.-All the corporate powers of the
company shall be vested in and the man
agement and control of its affairs shall be
exercised by board of directors composed
OF three stockholders. A majority Of the
directors shall constitute quorum for the
shall be elected annually by ballot by the
stockholders, on the first Monday in Jan.
uary in each year. Each stakeholder shall
be entitled in person or by proxy to a vote
tons shall be held under such rules and
regulations as may be determined by the
Board OF Directors, after hfteen days notice
by mail of such election shall have been
sent to each stakeholder at his last known
address. The directors thus elected shall
continue in office for one year, or until their
successors shall have been duly elected and
qualified. No failure to elect shall be re-
garded as a forfeiture of this charter ANY
vacancy occurring said board shall be
filled by the remaining directors for the
unexpiIed term: the said board shall likewise
elect the additional members in case they
should Determine TO increase the number of
said board. Said board of directors shall at
its first meeting after its election, nominate
out Of its number a president, a vice-presi-
dent and a secretary-treasurer, which officers
shall serve until the election to be held in
January, 1918. Said board shall have the
right to appoint and dismiss such clerks,
poration as conditions may justify and the
business of the corporation may require. The
tenure of Office of all the employees of the
corporation shall be during the pleasure of
company shall be vested in, and the man.
the board Of directors. Any of the directors
or officers shall have the right to appoint, by
written instrument, another director stock
holder to act as his proxy and in his stead
at any and all meetings of the board Of d.
rectors.
Article Vino stakeholder shall ever be
held liable or responsible for the contracts,
faults or debts of said corporation, nor shall
any mere informality in its organization have
the effect of rendering this charter null or
Of exposing a stakeholder to any liability
beyond the unpaid balance due on the shares
owned by him.
Article VII.-This 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 all
the stock of the corporation at a general
meeting convened for that purpose, and after
at least ten days written notice of this
meeting has been given through mail ad-
dressed to each shareholder at his last known
place of residence. In case of dissolution by
the expiration of this charter or otherwise,
the stockholders shall elect there lisuidators
from among their number, to liquidate and
settle the bushes sand affairs of the COM
pany. In case of death or disability of any
one of said commissioners or liquidators, the
survivors or remaining liquidators shall APP
point a successor to him The said liqui.
dators shall have full power to settle said
conpany's debts, and divide the remaining