The herald. [volume] (New Orleans, La.) 1905-1953, 1919-11-13
CHARTER OF THE ]. M. GERDE REALTY
COMPANY, INCORPORATED.

COMPANY, INCORPORAIED.
United States of America, State of Louis
lana, Parish of Orleans, City of New Orleans
Be it known, That on this twenty second
day of the month OF August, in the year Of
our Lord, One Thousand Nine Hundred and
Nineteen. and of the Independence of the
United States of America the One Hundred
and FOrty-third, before me, Arthur A. Moreno
Notary Public, duly commi Ssioned and
qualified, in and for this City and the Par.
sh of Orleans, therein residing, and in the
presence of the hereinafter named and un
derSlgned witnesses, personally came and ap'
peared the following persons whose names
are hereunto subscribed, together with the
amounts OF their respective subscriptions &c
the capital stock of the corporation to be
formed, who severally declare that, availing
themselves of the provisions of the general
laws of the State OF Louisiana relative &c
the organization of corporations, they have
covenanted and agreed, and do, by these pres
ents covenant and agree, and bind and obli-
gate themselves, as well as such other per
sons as may hereafter become associated with
them or their successors, to form ,and constl
tute themselves into a. corporation and body
polite in law, and for the objects and pur.
poses and under the agreements and stipu-
lations following, to-wit:
ARTICLE 1.-The name and title of this
corporation shall be the J. NJ. Gerde Realty
Company, Incorporated, and by that name
said corporation shall have power and au-
thority 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 its nego-
table promissory notes or other evidences OF
Indebtedness; to create debts; to make and
use corporate seal; TO purchase and receive,
lease, hold, sell and convey, as well as mort
gage and hypothecate, property, real, person
al and mixed; to name and appoint such
officers and agents as the interest of said
corporation may require; TO make and estab-
lish such bylaws and regulations for the
proper management and regulation of its af-
fairs may be deemed necessary, and the
name to change, alter and amend al pleas
ure.
ARTICLE 1.-THE domicile of this corpo-
ration shall be in the City of New Orleans,
State of Louisiana, and all citation and other
legal process shall bye served upon the presi-
dent of this corporation, in case of his
absence upon the vice-president, or, in case
of the absence of both of these officers, upon
the secretary thereof.
ARTICLE III.-The objects and purposes
for which this corporation is established
and the nature of the business to be carried
on by it are to buy, sell, excha age and
otherwise acquire or dispose of real estate :;
to rent, lease, mortgage and build dwelling
houses, business property, apartment houses !;
to acquire vacant land and develop and i'm
prove same; TO deal in subdivisions; TO COL
lect rents and generally to do every thing
and act in connection with the holding, own
ing and leasing of property, whether vacant
or improved, and generally to do any act or
thing essential to usually done in con-
nection with a general real estate business.
ARTICLE IV.-The capital stock of this
corporation shall be Thirty Thousand $780,
OO0OO Dollars, divided into three hundred
5000 shares of the par value of One Hun
dred $4,000 dollars each, and may be in
fo he of Eiftv ThoucapJ (SS0 :
O0O.OO). dollars, divided into five hundred
$500 shares of the par value of One Hun
dred (Sl00O0) dollars seach, and this corpora
ton is to be going concern when one
half of the capital stock has been subscribed
for. Each share of the stock shall be en-
titled to one vote, either in person or by
proxy, at all general elections or meetings
of stockholders
Should the capital stock of this corporation
ever be increased the of Thirty
Thousand (s500OoOD dollars, :hcl such al
ditional shares of stock that may be issued
shall first be offered to the holders of stock
at the time of issuance at the book value
of said new stock in the proportion in which
the said stockholders shall at the time of
issuance hold stock in this corporation.
ARTICLE V.-No stakeholder shall ever
be held liable or responsible for the in
deptedness, faults or defaults of this cor
poration, shall any mere informality in
the organization of the corporation have the
effect of rendesing the charter null or of ex-
posing the stockholders to any liability be-
yond 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 board of di-
rectors and the stockholders who desire to
purchase shall have the right to purchase the
same in the proportion to their respective
holdings of stock in the company. Should
said stockholders in fifteen days after no
.ice having been given, in writing, fail or re-
fuse to purchase the stock offered for sale,
such stock may be sold to any one. No
transfer of stock shall be made or held to
be valid and binding unless made in pursu-
ance of the provisions of this charter.
ARTICLE VI.-This corporation shall have
all powers granted to such corpora atoms by
law and shall have the power to contract.
sue and be sued in its corporate name, and
to own, hold, receive, loan, lease, purchase.
sell and convey, or mortgage any and all of
it's effects or to hypothecate its property and
to do any and all acts and things of any
other kind, nature or description, as may be
necessary TO carry out the objects and rur.
poses of said business as its interests and
conveniences may require.
ARTICLE VII.-The business of this cor
poration shall be directed by and vested in
a board of directors consisting of three men,
beers, two of whom shall constitute quorum
for the transaction Of business, and the said
directors as first constituted shall be Eu-
gene L. Gerde. Mrs. E. L. Gerde' and Alex
ander NJ Gerde. and they shall hold office
until the fourth Monday in August, 1920
and on that day and on the same day there
after elections shall be held annually for
directors at the principal office of the cor
poration Failure to hold election on the
day specified shall not dissolve the cor.
poration. but the directors in office shall
hold their respective offices until an election
shall be held after thirty days notice Of the
time and place thereof given to each stock.
holder. The annual election shall be held
on the fourth Monday in August 1920, and
thereafter on the fourth Monday of August
Of each succeeding year, and the election
shall be held between the hours of ten and
twlve a. m. All vacancies on the board
of directors for whatever cause shall be
filled by the remaining directors.
Eugent L. Gerde shall be the first presi
dent Mrs E. L. Gerde shall be the frs
vice-president and Alexander Marshall Gerds
shall be the first secretary-treasurer and they
shall hold office until the fourth Monday il
August, 1920, or until their successors ar,
elected, and each succeeding board Of di
recfors shall elect its principal officers TO-
the term Of their election and only stock
holders shall be eligible for election as
member of the board of directors. Director
may act either in person or by proxy.
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