The herald. [volume] (New Orleans, La.) 1905-1953, 1917-10-25

| lEdt, aValing themselves OF the provisions
| OF the Laws Of the State of Louisiana, rela-
| I've 10 the formation OF corporations. and
| particularly, the provisions OF Act 267 Of
| 1914 OF ;ac General Assembly OF the State
| Of Louisiana they do hereby and by these
| presents, behalf Of themselves and OF such
| other persons as may hereafter become as
| s0cIated SI,h them, Covenant snd agree,
| and bind and ob.lga;e themselves, as vel
as such other persons to form and constitute
body corporate and polite IN Law, :or
| :he objects and purposes and under the stIpu-
| i.tIons following, to-wIt:
| Article The name Of this corporation
! shall be "Sangassan Building and Realty
Article II.-That said corporation sha,.
| have, n rs corporate capacity and name,
| the enjoyment OF all the rights, advantages
and privileges granted by Law 10 corpora
| ;!J"s, 10 contract, - sue and be sued 70
| .Gyp; and Use a corporate seal. - Guy, mold,
| receive, convey mortgage or pledge properly
D5,h real and personal, to issue notes and
| J;aer written Obligations Or negotiable lnst-u.
ucH,s, 10 have and employ such agents and
employees as the interest and convenience
| %! the said corporation may require o- de
| ua-i, - name and establish such bylaws,
| ru.-s and regulations as may BE deemed
necessary, and IL general 10 do any and al
acts, pertinent - It's business, and not IN
violation Of the Law.
Article III.-TAe objects and purposes OF
,a.s corporation are hereby declared 10 be
Generally 10 engage II the business OF buy
ing, selling, renting, leasing, or improving
rca. estate and 10 act as agent b-okc-,
or principal IN Transactions relative there
~; 10 make or have made plans and specI-
uCd:IOHs Tor the erection or improvement OF
buildings, and 70 act as contractor, sub
contractor, or principal IN suca erection
yr Improvement; 20 obtain or grant loans
on real esate improved uu.mprovcd; and
TO handle, Tor itself or for others invest
ments relative thereto; lawfully TO acquire.
and dispose Of, by purchase, sale, Donation
y Otherwise and to mortgage, cucumber, or
otherwise affect real estate or movaOly prop
cry necessary or pertinent 20 Us business,
10 collect rents for Is Own accJun; OF Tor
account Of others; and 20 solicit and place
N::A agents UT insurance companies policies
u insurance affecting o. protecting real es-
tate, building contracts or matters connected
With the business or within the scope OF the
corporations; and in general TO do and per
form any and all ac;s and things, eiihe:
necessary and pertinent 20 the purposes and
objects Of the corporation, or connected with,
promotIve OF or related 10, such purposes and
objects
Article IV.-The capital stock OF this cor
poration is fixed az the sum OF Five Thou
sand tS5OUOO divided mo Fifty shares
Of a par value of One Hundred Dollars
$1,000 each, more than MY per cent OF
which has been subscribed for and paid for.
All shares OF stock shall be full paid and
non-assessable. No transfer OF stock shall.
De binding upon the corporation unless made
uIor is books. No stockholder shall sell
any share OF mis- stock 10 any person unless
he shall have first offereu such share or
shares to said corporation at the book value
thereof Is established by the last inventory,
all when said offer shall have been made
20 the corporation, i shall De ITS duty 10
.tv.se the other stockholders OF sad oiie-
and they shall have an opportunity and option
- purchase SAID stock, IN me same P'9I2i
Ion a. each Of said stockholders then hold
la., Il stock IN the corporation; the failure
y declining OF any s:Ockh0lder or stock,
to.ae-> to avail himself or themselves OF
such Ci'er - acquire TO accrue TO me "'ieIs
in the same proportion a. aforesaid; WI CH
option they must exercise within thirty
days after the receipt Of The said notice
thereof from the corporation, which notice
shall he sent by registered mall
Article Wins corporation Sna4I nave tAe
right 20 increase is capital stock 20 the tu--
.ae- sun OF twenty-five Thousand Dollars
tSz5,0cOUO) 70 be divided "a the present oaP.-
al stock i divided, provided said increase
shall have been voted al a meeting OF the
stockholders duly called for the purpose and
by vote Of two-thirts u all the outs:and-
Article vI-Th. d2mici,e Of this corpora,
Parish OF Orleans, Louisiana.
Article Widths corporation shall exist
and nave succession for a period OF ninety
nine years from date hereof unless sooner
dissolved or l;quida.ed.
Article NIII.-The corporate powers OF this
corporation shall be vested II and shall be
exercised by a Board Of Directors consist
ing of three stockholders, majority OF "hom
shall constitute a quorum for the transac-
ton Of business, provided such majority
together represents over one-half OF the out
standing stock. The Directors shall be elect
ed annually by ballot by the stockholders az
an annual meeting OF stockholders 70 be
held on the first Monday OF September in
each and every year Each stockhOlder shall
be entitled, II person or by proxy, 70 a
vote for every share OF stock held by MIN
Fifteen days notice OF rne annual meeting
- u J. al do n -
last known address by registered mail. Th-
directors elected at any annual election
shall. continue in office for one year or
until :kelr successors shall have been elect
ed and dualihed The said Board OF Direc-
Tors shall. at its first meeting, nominate
and elect out OF its members a President
Nice-President and Secretary. The
President shall exercise the functions OF and
discharge the duties OF treasurer. lie sHa!.
nave power without other authorization 70
sign checks, execute notes. secured by mort
gage otherwise, Or unsecured. negotiate
sale, purchases, leases, loans, building o.
Other contracts TO- and II the name OF me
corporations: and sign fo- and IN the name OF
the corporation any deeds OF sale or pur-
chase leases, mortgages, contracts, or other
instruments for the business or purposes OF
the corporation; and in general to be and
act as General Manager OF the corporation.
No officer of this Corporation shall receive
any salary except by vote of majority OF
outstanding stock
Article IN ntil the annual meeting OF
stockholders, to be held in the year 1918.
or until successors are elected and qualified.
the following shall constitute the Board OF
Directors and Officers OF the Corporations: NJ.
John Sangassan, President: f. Z. Lansing,
President; Lawrence Hitler, Secretary.
Article N.-Every subscriber 10 the capital
stock OF the corporation shall be liable only
for an amount equal to the unpaid balance
due the stock for which he may have
subscribed. and no stockholder shall ever
be held responsible or liable for the con-
tracts or faults OF this corporation in any
further sum than as above provided
Article XI.-Service OF all legal process
shall be made on the President and in his
absence upon the Vice President and in the
absence OF either, then upon the Secretary.
Article NII.-The subscribers 10 the CAPT
tai stock Of this corporation have set opposite
their respective signatures hereto, their
several addresses and the amount of their
subscriptions TO stock. so that this
Act OF Incorporation will serve the original
subscription list of the Stock Of the corpora
ton
Article NIII.-The charter Of this corpora
ton shall be amended in accordance with !
the provisions of Section of Act 81 OF
1914 Of the General Assembly OF the State
Of Louisiana.
Article NIV.-This corporation shall be dis |
Section % OF Act PSI of 1914, and shall be |
iquidated in accordance with Section 30 of
Act 267 of 1914.
Article NV.-The subscription of the said |
NJ. John Sangassan to the stock OF the cor |
the corporation OF the property specified in |
RE Iuye-tO-y arreNeI hereto arro-diuu 70