The herald., 1919-11-13
CHARTER.

| 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
| tons, 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
enjoy succession for the full term of
ninety nine years from the date hereof; to
| contract, sue and be sued; to borrow
money; to make and issue it's negotiable
| prOmissory notes or other evidences of in
debtedness; to create debts; to make and
use 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 ap-
point such officers and agents as the in
terest of said corporation may require; to
| make and establish such bylaws and reg
ulations for the proper management and
regulation of its 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 thereof.
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 it 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-
ton with the holding, owning and leasing
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.
ARTICLE Iv-The capital stock of this
corporation shall be Fifty thousand &C.,
0OO.OO) dollars. divided into five hundred
toOO) shares of the par value of One hun
dred (S1OO.OO) dollars each, and may be in
creased to the sum of One hundred and
fifty thousand $3.50 00.00) dollars, divided
INTO fifteen hundred 1500) shares of the
par value of One hundred (S1OO.0O) dollars
each, and this corporation is to be a going
concern when one-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
eral elections or meetings of stockholders
Should the capital stock of this corpora
ton ever be increased over the sum of
Fifty thousand (S50,OOOOO) dollars. then
such additional shares of stock that may
"a cd hall GraN -
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 in
this corporation.
ARTICLE V.-No stakeholder shall ever
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 or
of exposing the stockholders to any liza
bility beyond the unpaid balance if any.
on his stock subscription.
Should any stakeholder desire to sell his
stock, he shall first offer the same to the
stockholders of the company at its book
value through its -obard of directors and
the stockholders who desire to purchase
shall have the right to purchase the same
in proportion to their respective holdings
of stock in the company. Should said
stockholders in fifteen days after notice
having been given, in writing, fail or re-
fuse to purchase the stock offered for sale
such stock may be sold to anyone
No transfer of stock shall be made or
held to be valid and binding unless made
in pursuance of the provisions of this
charter.
ARTICLE VI.-This corporation shall
have all powers granted to such corpora
tons by law and shall have the power to
contract, sue and be sued in its corporate
nd 70 hAII
lease, purchase, sell and convey or mort
gage any and all Of its effects, or to hy-
pothecate its property and to do any and
all acts and things of any other kind, ma
ture or description, as may be necessary
to carry out the objects and purposes of
said business as its interests and convent
ences may require.
ARTICLE VII.-The business of this
corporation shall be directed by and vested
in board of directors consisting of three
members, two of whom shall constitute a
quorum for the transaction of business.
and the said directors as first constituted
shall be James t. Boulet, Frank Lobrano
and Frank Sullivan, and they shall hold
office until the fourth Monday in Septem-
Der, 1920, and on that day and on the same
day thereafter elections shall be held an
nually for directors at the principal Office
Of the corporation. Failure to hold an
election on the day specified shall not dis
solve the corporation, but the directors in
ONCE shall hold their respective Offices
until an election shall be held after thirty
days notice of the time and place thereof
given to each stakeholder. The annual
election shall be held on the fourth Mon
day in September, 1920, and thereafter on
the fourth Monday of September of each
succeeding year, and the election shall be !
held between the hours of ten and twelve |
a. m. All vacancies on the board of direc- |
tors for whatever cause shall be filled by !
the remaining directors.
James T. Boulet shall be the first presi- |
dent, Frank Lobrano shall be the first vice. |
president, and Frank Sullivan shall be the |
first secretary treasurer, and they shall |
hold Office until the fourth Monday in |
September, 1920, or until their successors |
are elected, and each succeeding board of |
directors shall elect its principal officers
for the term of their election and only /
shall be eligible for election
rs member of the board of directors. Di-
rectors may act either in person or by
proxy.
ARTICLE VIII-Whenever this corpora
ton is dissolved either by limitation or
for any other cause, its affairs shall be
liquidated by the board of directors, who
are hereby vested with full power to sell |
any or all assets of the corporation, either
or in a mass, and to convey full
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