The herald., 1917-11-15
CHARTERS.
AMENDMENT TO CHARTER
OF THIRD DISTRICT BUILDING ASSC
CITATION.

Be it known, That on this twenty-sixth
day OF October in the year one thousand
nine hundred and seventeen, before me,
Frederick Zengel notary public, duly COM
msSioned and qualified, in and for the
Parish OF Orleans, State Of louisiana and
IN the presence Of the witnesses hereinafter
named and undersigned, personally came and
appeared:
William Frantz, the President Of and here.
in representing the Third District Building
Association, duly incorporated institution
Of this State, domiciled in the City of New
Orleans. created by act passed before me
notary, on the 18th day Of April, 1857, re.
corded in the Mortgage Office OF this Parish
IN Book 353 70. 81, who declared:
That after thirty days notice by publica
ton IN the New Orleans Item, a newspaper
published daily in the said city Of NeH
Orleans, and also after thirty days notice
by mail to each stockhoider, general meet.
ing OF the stockholders OF said Third Dis,
trlct Building Association was convened and
held at its dom,cle and office, corner Of
Lafayette Avenue and X val street in SAID
city. on the 10Th day Of August. 1917. for the
purpose OF deciding and voting upon the
proposed amended charter of said ASsOCia.
ton, and that al said meeting a total Of
three hundred and seventy-six stockholders
holding and owning three thousand seven
hundred and Seycnty-Unc shares Of stock,
were present and voted thereat, and voted
unanimously II favor Of the adoption OF
said proposed amended charter, as the whole
VIII more fully appear by reference to the
SAID meeting annexed hereto and made part
hereof.
And the said President further declared
that IN order 10 carry into effect the delib-
eratIOns Of said meeting, and Of causing the
said amended charter to be duly recorded
as PROVIDED for by law, lie does, by these
presents, publicly and formally proclaim the
following to be the amended charter Of said
corporation, voted upon and adopted at said
general meeting aforesaid, to-wlt:
Article Name and Powers. The name
and title Of said corporation shall be the
Third District Building Association" and
under ITS SAID corporate name 1t shall have
power and authority 10 have and enjoy sue
ceSSion Tor the period of uInety-nine years
from the date hereof; to contract, sue and
be sued; to make and use corporate seal;
TO mold, receive, lease, purchase, convey and
pledge, under It's corporate name, property,
both real and personal; 10 lend money on
security; to borrow money, and to issue its
evidences OF Indebtedness therefor: to name
and appoint such officers, directors and
agents as the interests and convenienceS OF
said corporation may require; to make and
establish such bylaws, rules and regula-
tons lor the proper management and regu-
latlon OF its affairs as may be necessary,
and the same to change and alter at will:
and generally to do all such acts and things
and TO exercise all such powers as are OF
may be necessary to carry out its objects
such corporations.
Article II.-Domicile. The domicile of said
corporation shall be in the City of New
Orleans. in the State of Louisiana, and all
citations or other legal process shall be
served upon the President OF said CORPORA
hon. or in his absence upon the Vice Pres
ident, or in the absence of both If these
officers, upon the Secretary. And the said
President, or VicePresident, acting in his
stead shall have power and authority, 10
institute and defend all suits in the name
OF said corporation, and stand in judgment
therein.
Article iII-Obiects Section The oh.
lects and purposes Of this Association shall
be the accumulation of a fund from the
amounts received in full payment of paid
up shares. and from installments paid on
account OF running shares of the capital
stock OF the corporation, rentals, interest on
loans, and other sources; said fund so accu-
mulated TO be used in the puchase, building |
upon, improving and repairing OF real-estate,
making loans to members of the Association
on mortgage security, and on stock of this
corporation, all in such manner and on such
terms and conditions as may be provided
by the bylaws.
Section 3 All loans shall be under the
control and direction Of the Board of Direc- |
tors, who shall have power TO fix the rate ]
of interest and make such rules, regulations, |
or bylaws regulating the same, as it may
Article IV.-Capital. Section l. The cap
ltal stock of said corporation is hereby |
fixed at Five Million Dollars (S5OOO,OOOO) |
and shall hall, be be issued in shares of One Hun
ration. shall begin business at once
Section g. The shares of stock in this cor /
poration may be of two kinds, Running
Shares" and paid up Shares" Running
Shares shall be paid for in weekly or
monthly installments of at least Twenty FIVE
cents per week per share, or in such other
amounts or at such other times as may be
determined by the Board of Directors paid
up shares shall be paid up in full at the
Section 3. Running Shares" may be con.
verted into Paid up Shares" by the holder
paying the difference between the present
and face value of such shares, or when such
shares reach their face value or when the
amount of installments paid on such shares
plus dividends declared thereon, shall have
reached their face value. All shares shall
be issued at such times and under such con. |
dItions as the Board of Directors may de-
ternine.
Section 4. Each share of stock which has
oeen IN force for sixty days preceding any
stockhoiders meeting, and represented there
at, shall be entitled TO one vote, either in
person or by proxy.
=. Section 5. The failure or any owner of
running shares" (not pledged to the associ.
aiion Tor loan on real estate) for term
OF SIX months, to make the weekly or month
~ payments on his stock as provided for
IN the bylaws, shall, without notice, au.
thorizing the association to cancel said shares
paid thereon, together with accumulated
prohts, shall cease to draw dividends, but
shall be held by the association subject to
the order OF such party, and he shall be so
notihed by notice mailed to him. and in
case he shall not within one year thereafter
call to receive said amount and surrender
the certificate, said amount shall revert TO
ana become the property of the Association |
Section 3. The failure of any owner of
SHARES OF stock pledged to the association for
a loan on Real Estae, to make his weekly |
payments on account of either principal or
interest for period of thirteen weeks, shall.
without notice, authorize the association 10
cancel said shares of stock and to credit
the cash value thereof at the time az mar,
payment of the loan; and the assoc;aPtinr
snali nave the right to foreclose the mort j
gage tor the balance of the loan then due.
Section 2. Shareholders shall have the ,
rlght 10 Withdraw from the Association the |
amount paid in, together with the accumu-
lated prohts due thereon at the preceding
aeIivldend time, less the proportion of losses, /
a any upon ming written notice of with |
= S avail which shall be registered by the 5
secretary IN the order of their recent. and :
Withdrawing shareholders shall be paid in r
lotalon, as registered, out of the first I'M. {
appIopriated money in the treasury: but no, a
nlote IMAM one-haf Of the monthly REGENTS L
snal ever be used for the purpose of pavino 4
WITHDRAWALS unless there should be an ove1 a
keeunuiation of funds which cannot he i
on;S., IN the usual maner upon real.estate: a
yo'loed the Board nav in ito d;scrot;o.' | \
use more than one.half of the ,,onsIi' ''on'
drawals. VI paying sueh with V
Section 8; Should there be an ovs-.,o.,, q
iiuiation OF funds beyond the use of 49,
association, the Board shall have The -;aLt .,
- san IN unpledged shares for redernt;9-,.
.ro.iuea mat paid-up shares shall be called !,
irst' IN the reverse order of tbeir go.
md shall be redeemed g. r. NS issue,