The herald. [volume] (New Orleans, La.) 1905-1953, 1917-08-23
CHARTERS.

The call for which meeting vas duly advCr-
used IN the Times Plcayune newspaper
published IN the City OF New Orleans, tpr
zen TALL DAYS prior 10 said meeting; all M
fall accordance with the provisions of Article
NJ. MI Of said charter.
That a. the said special meeting Of the
members Of said Homestead, called and CON
weed as aforesaid, all oi the members 81
SAID Homestead voting, IN person or by
proxy, unanimously voted III favor OF the
Articles a, proposed a: said meeting O: the
l4th Of Ilar 1917. so thu, the said Articles
N,, /. III, N, Y, VII, y. and XVI, no"
and w.N hereafter read As follows:
A-,.cic Name and Genera. P."crS. l ne
name and title OF tins co-Pgrar2n shall be
The Liberty Homestead and under lis sAit
corporate name j, shall have the power and
10 mike and use corporate seal. and the
same 70 break or 10 alter al pleasure u
hold. receive. lease. purchase. convey, pledge
and mortgage. under u, corporate name,
property, both real and prr>'naii lend Or
-,,',t.,, a.rs II I,s receipts from any source
such special fund is may be necessary 20
cover losses, ~ meet the liability Tor re-
to name and appoint such officers and agents
g, the l1tc-e,, and convenience Of sad. cor
pY,atlpu may require; 10 make and cs-d'i's"
such bylaws, rules and regulations ior the
| Iftt.rs Of sad cooperation as may be ucces-
,ary and proper, -ad the same 4" change
| and alter al pleasure, ana TO do all eH1A
/ ar,, and lining, a. axe or may be necessary
| and nrlprr 10 carry on, the object, and pur-
| pose, of said corporation.
| Article III.-DbJcy;s and Purposes The
! Object Of th., corporation shall be the aecu-
/ mutation rt a fund from payments made on
acc5un: OF the capital stock, rentals, pre-
uliunl,, in.c-r,, on loans and other sources;
| the fund $, accumulated TO be used fgr the
| purchase and sale 81 real estate, The build
/ INK. renting and sale Of h0meNteads, and
/ 1-r.l.-r nj funds uupl mortgage Vi
-ra,,v. s- o,1cr security IN the city Of New
/ Orleans. Parish of Jefferson and the Far an
/ CORPORATION 10 the extent OF ~ per cent Of
| the face value thereof, other than loan shares,
| but no loan upon other than real estate secu-
riry or shares Of the corporation shall be
/ members Of ;hc board Of directors. The cor
| p.-srlau shall have the power 70 borrow
| money in the discretion pt the board ~ d.
rectors.
/ Article IN-CapItal Stock. The capital
sock Of ,hi, corporation shall be five million
a,,I,-. fS5OUuUrUuUl, and shall be issued IN
| shares PAYABLE A. such time and IN such
manner a, hereinafter provided.
Tn, shares shall h- divided into three
classes namely: Fu.l-pa.d Current or In.
ye,,.rnt and Permanent. For the sake OF
convenience. Current or Investment shares
ARE ,uy-d.vided into Investment and Loan
| shares.
| Iuvestmcu. shares shall be issued at the
par value If one hundred dollars each. pay
able Al the rate %: one dollar multiple
thereof per month per share.
Fu,,-paId and permanent shares shall be
issued AZ The option Of the board 81 directors,
IN shares Of twenty-five dollars each, pro
yided that said shares shall be paid up III
full At the date of issue.
| Loan shares shall be issued at the par
value Of nttv dollars each. payable on OF
before the last day OF each month, a; the
rate Of tweuty-tly cents or multiple thereof
Der share
| IuStallmcnts on stock shall be monitor
fcitablc. Payments on shares, lnStaliment'
aud interest, shall be due and PAYABLE a
the office OF the corporation, on or before me
| last day vi each consecutive month, and Al
payments shall he imputed:
! l,t. To the payment OF any insurance
.;axcs or other assessment paid tor accoun
OF the shareholder;
| ID To the payment OF interest due;
Srd. The balance nt the amount 10 be ap
piled towards the payment Of InNtdllmeni'
On shares; provided that the order OF lmpuia
, ton may be changed At the discretion a"
the board ot directors.
Article N.-DrvidendS. The board OF d
-ecturS shall determine Scml-annudlly th'
net earned profits Of the corporation, an'
upon each share OF stock a dividend snail D.
declared, apportioned at its discretion
The board shall retain part Of the pToht
Of the corporation. IN order - create sur
. plus. and reserve fund ioT cohlhsch
7. losses.
! The dividends declared by the board shai
= De final and conclusive upon all shaTelo!d
> ers. ,
= Investments shares shall receive diVi
4 deud credit computed monthly az me ray
i ! apportiOned by the board On te uloH'tI