The herald. [volume] (New Orleans, La.) 1905-1953, 1919-10-30
CHARTER OF THE LEE CIRCLE
REALTY COMPANY,
INCORPORATED,

LoulSlalla, farlSn OF orleans, City of New /
Orleans. Be 1t Known, That on this nine |
teenth day of the month of September in |
the year of Our Lord One Thousand Nine |
Hundred and Ninteen, and of the indie /
pendence of the United States of America |
the One Hundred and Forty third, before |
me, Arthur A. Moreno a Notary Public, |
duly commissioned and qualified, in and |
for this City and the Parish of Orleans, |
therein residing, and in the presence of |
the hereinafter named and undersigned |
witnesses, personally came and appeared |
the following persons whose names are |
hereunto subscribed, together with the |
amounts of their respective subscriptions |,
to the capital stock of the corporation to
be formed, and who severally declare that, |
availing themselves of the provisions of
the general laws of the State of Louisiana
relative to the organization of corpora
tions, they have covenanted and agreed,
and by these presents covenant and agree,
and bind and obligate themselves, as well
as such other persons as may hereafter
become associated with them or their sue
cessors, to form and constitute themselves
into a corporation and body polite in
law, and for the objects and purposes and
under the agreements and stipulatiOns fol-
lowing, to-wit:
ARTICLE 1.-The name and title of this
corporation shall be the LEE CIRCLE
REALTY COMPANY, INCORPORATED.
and by that name said corporation shall
have power and authority to have and
ninety nine years from the date hereof; to
| contract, sue and be sued; to borrow
money; to make and issue its negotiable
promissory notes or other evidences of in
debtedness; to create debts; to make and
use a corporate seal; to purchase and re-
ceive, lease, hold, sell, and convey, as well
as mortgage and hypothecate, property,
| real, personal and mixed; to name and APP
point such officers and agents as the in
terest of said corporation may require; to
tt ~ la,r, ar.I
ulatiOns for the proper management and
| regulation of it's affairs as may be deemed
| necessary, and the same to change, alter
and amend at pleasure.
| ARTICLE 1.-THE domicile of this cor
| poration shall be in the City of New Or
| leans, State of Louisiana, and all cititation
| and other legal process shall be served
upon the president of this corporation, or
in case of his absence upon the vice-presi-
| dent, or, in case of the absence of both OF
these officers, upon the secretary thereoI.
| ARTICLE III.-The objects and pur-
poses for which this corporation is estab-
| lished and the nature of the business to be
| carried on by 1t are to buy, sell, exchange
| and otherwise acquire or dispose OF real
| estate; to rent, lease, mortgage and build
| dwelling houses, business property, apart
ment houses; to acquire vacant land and
| develop and improve the same; to deal in
| subdivisions; to collect rents and gener-
ally to do everything and act in connec-
|
| of property, whether vacant or improved,
and generally to do any act or thing es-
| sential to or usually done in connection
with a general real estate business.
T ARTICLE Iv-The capital stock Of this
| corporation shall be Fifty thousand ESQ.,
i OOO.OO dollars, divided into five hundred
$500 shares of the par value of One hun
bred (S1O0.OO) dollars each, and may be in
creased to the sum of One hundred ana
fifty thousand $3.50 100000 dollars, divided
into fifteen hundred (1500l shares OF the
par value of One hundred tS100OO) dollars
each, and this corporation is to be going
concern when half of the capital stock
has been subscribed for. Each share OF
the stock shall be entitled to one vote
either in person or by proxy, at all gen.
eraI elections or meetings of stockholders
Should the capital stock Of this corpora
ton ever be increased over the sum OF
Fifty thousand ($5OOO000) dollars, then
such additional shares of stock that may
be issued shall first be offered to the hold
ers of stock at the time of issuance at the
book value of said new stock in the pro
portion in which the said stockholders
shall at the time Of issuance hold stock III
this corporation.
ARTICLE v.-No stakeholder shall evel
be held liable or responsible for the in.
, debtedness, faults or defaults of this cor
, poration nor shall any mere informally
in the organization of the corporation have
the effect of rendering the charter null OF
} or exposing the StocknOiuers " any ha
| bility beyond the unpaid balance, II any
on his stock subscription.
= Should any stakeholder desire to sell MI
: stock, he shall first offer the same to tn,
stockholders of the company at its bool
9 value through it's obard of directors ant
I the stockholders who desire to purchase
! shall have the right to purchase the SAM
4 in proportion to their respective holding
of stock I'M the company. Should sale
stockholders in fifteen days after MOTTO
> having been given, in writing, fail or re
: fuse to purchase the stock offered for sale
e such stock may be sold to anyone.
No transfer of stock shall be made o
held to be valid and binding unless mad
: in pursuance Of the provisions OF thi
: charter.
II ARTICLE vI.-This corporation shal
4 have all powers granted to such corpora
!, lions by law and shall have the power {
: contract, sue and be sued in its corporal
y name and to own, hold, receive, loaI
. lease, purchase, sell and convey or mort
r gage any and all of its effects, or to ny
d pothecate its property and to do any an
# all acts and things Of any other kind, ma
q ture or description, as may be necessar
,e to carry out the objects and purposes
,e said business as its interests and conven
d ences may require.
)i ARTICLE VII.-The business OF tn
es corporation shall be directed by and yeste
" in a board of directors consisting Of thrt
members, two of whom shall constitute
RS quorum for the transaction OF bushes
r and the said directors as first constitute