The herald., 1917-11-01

That. awaiting themselves OF the provisions
OF the Laws Of the State Of LOUISIANA, rc.d.
tive To the formation Of corporations, and
particularly, the provisions OF Ac, 20 u
| 1914 Of the General Assembly OF the state
Of Louisiana they do hereby and by these
| presents, on behalf Of themselves and "t sIch
| ISOLATED with them, covenant, and agree,
and bind aud ohhsate themselves, a. vel
as such other persons To form and constitute
body corporate and polite IN law tor
| the objects and purposes and under the stpu'
latlOus following, tO-wIt:
| Article l.-Ihc name OF this corporation
| shall be 'Sangassdn Building and Realty
| Company Inc" g,
| have, III ITS corporate capacity and name
| the enjoyment OF all the rgA;s, advantages
and privileges granted by Law to corpora
| lions, 20 contract, TO sue and Je sued TO
adopt and Use a corporate seal, = GUY, hoId'
receive, convey mortgage or pledge property
! both rca. and personal, 10 issue notes ana
other written Obligations or negotiable !Nstiu-
men;s, to have and employ such agents ana
employees as the interest and convenience
| Ji the SAID corporation may require or dc
mInd, t. name and establish such bylaws,
| rules and regulations as may DE deencd
necessary, and IN general % d. any and al
acts, pertinent to ITS business, and not N
violation % The Law.
Article III.-Thc objects and purposes Of
TIL, corporation are hereby declared - De.
| Generally q engage IN the business o. buy
llS, Scta.slSI ltttt--lrt At17i-sr Va ''''r
real estate and t, act a. agent oroAeT'
OF principal in transactions relative there
iu; ID make or have made plans and spcci-
locations Tor the erection or Improvement OF
buildings, and 20 act as contractor, SUD
contractor. or puncpl. III such erection
OF Improvement; TO obtain or gran; loans
on real c>4tc improved or unimWyyed; and
70 handle, Tor itself or FOR others invest
mcu,s relative thereto; lawfully to acquire
and dispose Of, by purchase, sale, Donation
or ,tur.Ns,c and to mortgage, encu.-oeT, or
otherwise affect real estate or movlO.y prop
rrty necessary or pertinent TO us business
10 collect rents Tor Its own account OF ioI
account Of others; and 70 solicit and place
w.:h agents or insurance companies policies
of insurance affecting Or protecting real e,
ta;e, building contracts or matters connected
~itl the business or within The scope OF the
corporation; and in general TO do and per
form any aud all acts and Things, el;her
necessary and pertinent 70 the purposes ana
objects Of the corporation, or connected WIN.
p~,mptlvc OF or related 70, such purposes ana
Nrt,cle IV.-The capital stock Of this cor
pa-a,I9u Is nNed az the sum o: fNc lhJu-
sand tS5.OUlOD divided Into Fifty shares
iSl0UvO each, more than r;ty per cent OF
waE.h ma, been subscribed Tor and paid Tor.
All shares OF stock shall be full paid and
u0u-asscssable No transfer OF stock sId.l
Ne binding upon the corporation un.esI ,, mas .,;
urar i,s books No stockhO.der shall SCI
any share OF his stO-k 70 any person unless
he shall have first oftereI SUCH share or
shares to said corporation al the DOOR Va1ue
thereof IS established by the last inventory
.,' l..-r,rs,i,1 = Shall be It's duty t.
Tvs. ,r. other Stockholders Of said ofte~
and they shall have an opportunity ana option
t - oi s.id Stockholders then hold
49,. ~, .,,rl, in the c1-po-ation: the failure
,~ declining OF any stOckh2ldcr or stock.
rr.trr. 10 avail himself or themselves OF
-..-r ,;.- 2, ar1--irs IN accrue 20 the other,
~ ~. INC proportion as Aforesaid; which
,,,i,-f they must exercise within thirty
Az. after the receipt Of the said notice
.Ec-e,f from the corporation. which notice
Hi Ne s.u+ Inv registered mail
Ar,.cle V-This corporation shall have the
10. +, i-r-ra,r IL, CAPITAL stock 10 the fur
.'-..' - ,'', T.erry-iive Thousand Dollar,
e.; ..,,n, -, n, divided as the present CAPT
,aI Stock is divided, provided said increase
.L.u have beer voted at 4 meeting OF the
s.,.Lb,Ida-s dulv called for the purpose and
Inv a vote gf tWo.thirds OF ali the outstdnd-
mo stock.
Article VI.-The d7ric.le OF this corpora,
- sb,U he the Civ Of New Orleans,
p--,.r Of Orleans Louisiana.
A-,irre NII-This corporation shall exist
~ r,ve succession for 4 period OF ninety
nine wears from date hereof unless sooner
I.,l,e5 ~ ro1;d3tef
Ar.irI- VIII.IThe corporate powers Of this
corporation shall be vested m and shall be
.vr-riSed nv a Board OF Directors consist
enI ~ ,5-cs s1o,LbHiders, majority OF whom
Ell c1nstitr,te quorum for the transac-
- III business provided such majority
.,ge,rrr -eDresentS over one-half Of the out
standing stock The Directors shall be elect
rj annually bv ballot Nv the stockholders at
~ a,r1al meeting OF Stockholders to be
held on the first Monday Of September in
cacb and every wear. Each stockholder shall
h- entitled. in person or by proxy, 10
vote for every share Of stock held by him.
Fifteen DAYS notice of me annual meeting
Shall he sent 10 every stakeholder at his
last known. address BY registered mail. The
directors elected at any annual election
Shall continue in office for one year
until their successors shall have been elect
ed and qualified. The said Board OF Direc-
tors, shall, at its first meeting, nominate
and elect out of its members 4 President,
A Vice President and a Secretary. The
President shall exercise the functions of and
discharge the duties Of Treasurer. He shall
sign checks. execute notes, secured by mort
gage or otherwise or unsecured, negotiate
sale purchases leases, loans, building or
other contracts for and in the name of the
corporation; and sign for and in the name OF
the corporation any deeds of sale pur-
chase leases. mortgages, contracts, other
instruments for the business purposes of
the corporation; ana IN genera 10 oe anu
act as General Manager OF the corporation
No othcer OF TINS corporation shal! receive
any salary except by vote oil majority oil
outstanding stock
s,soILoIdoIs - he bnId IN The wear lois
- ,.;i s,,c,oss,-S are elected and oualiied
10 Foiiooriry sail constitute the Road of
n;..,. "a Oa;re-s ~ tbe Cornorat;on. NJ
-, co-...,., pos;jo,t. L u ,rs;,g