The herald., 1917-09-27
CHARTER
SANGASSAN BUILDING AND REALTY
COMPANY, INC.

a 1 Y.
| fore me, Sol. Weiss, a Notary Public, in
| and for the Parish and State aforesaid, duly
| commissioned and qualified personally came
| and appeared the undersigned persons, all
| OF full legal age and residents OF the Parish
| and State aforesaid, who declare:
That, avalling themselves Of the provisions
! OF the Laws OF the State OF Louisiana, rela.
| tive 10 the formation OF corporations, and
! particularly, the provisions OF Act POI OF
| 1914 of the General Assembly OF the State
presents, behalf OF themselves and OF such
| other persons as may hereafter become as
| ISOLATED with them, covenant, and agree,
! and bind and Obligate themselves, as well
as such other persons to form and constitute
| body corporate and polite IN law, Tor
| the objects and purposes and under the stIpu-
lations following, to-wit:
| Article The name OF this corporation
shall be 'Sangassan Building and Realty
| Company Inc"
Article II.-That said corporation shall
| have, in is corporate capacity and name,
the enjoyment of all the rights, advantages
| and privileges granted by Law to corpora
| tOnS; TO contract, to sue and be sued TO
adopt and use corporate seal, 10 buy, hold,
| receive, convey mortgage or pledge property
| both real and personal, to issue notes and
| other written obligations or negotiable instru-
ments, to have and employ such agents and
| employees as the interest and convenience
! Of the said corporation may require OF de-
mand, 10 name and establish such bylaws,
|
necessary. and in general to do any and all
acts, pertinent to its business, and not in
violation OF the Law.
Article IIL-The objects and purposes OF
tins corporation are hereby declared to be:
| Generally to engage IN the business of buy
ing, selling, renting, leasing, or improving
real estate and to act agent broker,
| or principal IN transactions relative there
to; to make or have made plans and specl-
| tcationS for the erection or Improvement OF
| blllliupS and contractor. sub
contractor, principal IN such erection
or improvement; to obtain or grant loans
| Oh real esate improved unlmprOved; and
| TO handle, for itself for others invest
ments relative thereto lawfully to acquire,
and dispose OF, by purchase, sale, donation
| Or otherwise and to mortgage, cucumber, or
otherwise affect real estate or movably prop
| eTty necessary or pertinent 10 Its business
| to collect rents for its own account FOR
| account OF others and 20 solicit and place
with agents or insurance companies policies
! of insurance affecting or protecting real es,
| tate, building contracts or matters connected
with the business or within the scope OF the
| corporation; and in general to do and per
form any and all acts and things, either
2 necessary and pertinent TO the purposes and
D objects Of the corporation, or connected with
, promotive of or related 10, such purposes and
objects.
Article IV.-The capital stock of this cor
! DoratIon is fixed at the sum OF Five Thou
sand (S5,OO0.0O divided INTO Fifty share:
L
! $4,000 each, more tnan rIiy per cent o
: which has been subscribed for and paid for
All shares OF stock shall be full paid anC
. non-assessable. No transfer of stock shall
be binding upon the corporation unless made
upon its books. No stakeholder shall Sc!
" any share of his stock to any person unless
he shall have first ofered SUCH share o
y shares 10 said corporation at the book value
: thereof as established by the last inventory
; anil when said offer shall have been mad
: to the corporation, il shall be ITS duty Z
" advise the other stockholders Of said ofte
; | and they shall have opportunity and optioi
i | to purchase said stock, in the same proper
:. ton as each Of said stockholders then hold
! INKS ct stock in the corporation; The faIlur
: Or declining Of any stockholders or stock
5 holders TO avail himself or themselves 0
} | such offer to acquire to accrue TO the other
; IN the same proportion as aforesaid; whc
> | option they must exercise within thIrt
: days after the receipt of the said motto
Z | thereof from the corporation, which motto
Z shall be sent by registered mall
: Article Wins corporation shall have tn
= | right to increase its capital stock TO the tur
= | lner sum of twenty-five Thousand Dollar
!. | lSzS,OUUUU) 10 be divided as the present Cap
!; | la sock divided, provided sand lncreas
= | snail have been voted at a meeting OF tn
!, stockholders duly called for the purpose an
= | oy a vote of two-thirds OF all the outstano
Ing stock.
III Article VI-The domicile of this corpora
c ton shall be the City OF New Orleans
PARISH OF Orleans, louisiana
v Article NII.-lhis corporation shall ext:
C. and have succession for a period OF ninety
he nine years from date hereof unless soonS
.e dissolved or hquldated.
E. Article NlIL-lhe corporate powers OF I'M
r. corporation shall be vested IN and shaIl Q
exercised by a Board of Directors consis
Is ing OF three stockholders, majority OF whoi
" shall constitute a quorum LOT the HdHsd
nj | ton OF business, provided such rnaJorl'
is together represents over one-hali OF the on
| standing stock. The Directors shall be cleo
le ed annually by ballot by the stockholders !
is an annual meeting OF stockholders TO
at held on the first Monday OF September
m each and every year. Each stakeholder sha
rs be entitled, in person or by proxy, TO
4. vote for every share of stock held by hlr
ch Fifteen days notice OF tne annual meetir
shall be sent 10 every stockhoIder at n
of last known address by registered mail. IL
be directors elected at amy annual electio
er shall continue in office for one year
d. | until their successors shall have oeen e!ee
Sy ed and qualified. The said Board OF Dire
I'd | tors shall, at its first meeting, nomina
A. and elect out of its members a Presiden
D. Vice President and Secretary. IL
President shall exercise the functions OF az
re discharge the duties of Treasurer lie sha
IS have power without other authorization
e. sign checks, execute notes, secured by NOR
av | gage or otherwise, unsecured, negotla
he sale, purchases, leases, loans, building
of other contracts for and in the name OF Il
&c corporations; and sign for and IN the name
chase leases, mortgages, contracts. or 9th
n instruments for the business or purposes
so the corporation and in general to be al
i'd act as General Manager OF the corporate
nv No officer Of this Corporation shall recei
ITS any salary except by vote OF majority
nv outstanding stock.
he Article lX-Until the annual meeting
he stockholders to be held IN the year ~
or until successors are elected and qualIhe
ay the following shall constitute the Board
on Directors and Oficers of the Cooperation:
in John Sangassan, President; L. T. Lansin
a Vice-President; Lawrence Hitler, Secretar
ed Article X-Every subscriber 10 the capt.
us stock of the corporation shall be nSoie on
10 for an amount equal to the unpaid oaian
he due on the stock for which he may IA
10. subscribed, and no stockholder shall ev
en- be held responsible or liable for the co
. tracts or faults of this corporation IN al
av further sum than as above provided
ter Article NI-Service of all legal proce
FRS shall be made on the President and IN
a absence upon the Vice-President and IN |
as absence of either, then upon the Secretary
all Article XII.-The subscribers TO the cal
on tai stock OF this corporation have set opposi
tn their respective signatures hereto, th'
tor several addresses and the amount OF tht
he respective subscriptions to stock, so that q
to Act of Incorporation will serve as the origin
subscription list of the Stock OF the eorpoi
or ton.
re. Article XIII-The charter of this corpol
of ton shall be amended in accordance Wi
an the provisions of Section OF Act 6