The herald., 1919-09-18
CHARTER.

ARTICLE V.-The capital stock of this
corporation may be increased TO the sum OF
Fifty Thousand ~(SS0,O0O.O0) Dollars, by a
vote of all the stock present or
represented at a special meeting called for
that purpose or at a regular meeting Of the
corporation.
ARTICLE VI.-All certificates Of stock
issued by this company shall be signed by
the President and cOunter-signed by the
Secretary. The stock OF this corporation can
be transferred only on the books Of the cor
p~oration and subject TO such regulations and
formalities as may be prescribed by me
Board of Directors from time 10 time. No
stakeholder shall be permitted TO sell or
dispose of his stock without first
offering the same in writing TO the other
stockholders through the Board OF Directors
at a price not exceeding the book value
thereof, and the said stockholders shall have
an option and first right to purchase all the
shares OF stock TO be thus disposed OF by
sale, death, resignation or otherwise OF any
Of the stockholders, and shall have a period
OF ten days in which to accept or decline
said offer.
Should the Board of Directors or stock
holders decline to purchase said stock, then
the stakeholder or stockholders who made
the offer to sell or otherwise dispose OF the
stock may do so in any manner and at ANY
price he or they may see INT, but each snare
of stock is issued herein upon the CONDITION
and understanding that no stockholder shall
make a sale or transfer in violation hereof
and such sale or transfer, il made shall be
voil. and this Company shall be under no
or to regard the holder OF the certificates
thereof
ARTICLE VII.-'The corporate powers OF
this corporation shall he vested IN and tx.
ercised by a Board of Directors composed
OF three Stockholders. two OF whom Shal!
constitute a quorum for the transac-
ton of business, but said Board OF Directors
NAV be increased to five BY a majority vote
of the outstanding stock at any annual
meeting or at any special meeting OF the
stockholders called for such purpose. and
without the necessity Of any further amend
ment or alteration OF this charter.
The Directors of this Corporation may vote
in person or by proxy at any meeting OF the
Board OF Directors. and the Board OF Dlrcc-
tors may delegate any OF its powers 10 any
officer or officers or other representative "I
the Company by appropriate resolution 70
that effect. The first Board OF Directors OF
the Corporation shall be composed OF the i1l-
lowing: NJ. Dreaux Van Horn, Louis L.
| Abbott. and Morris b, Redmann.. who shall
serve until the second Tuesday IN January,
1920. or until their successors are elected ana
qualified. The directors shall be elected
annually bv the stockholders at a meeting
held on the second Tuesday Of January n
each year after date hereof. Notice OF sara
meetings shall be given fifteen days PRIOR
70 the date Of the meeting, in writing, sent
to each stakeholder at his last known plaCe
Of residence, or by publication in a daily
newspaper at New Orleans, at least once
ten days before said meeting. Inc BOARD
# Directors NAV change the date OF SAID an
nnal meeting to any other date IN January
nv written notice to that effect sent al Least
fifteen days before the date TO when INC
said annual meeting has been changed III
rected 10 each OF the stockholders at ms Las
known place of residence or by publication
as aforesaid. Each stockholder shall a.
such annual meeting. or other meetings gen
eral or special, be entitled in person or oy
proxy to one vote for every share o istoc'
The elections shall be held under such rule.
and regulations as may be from time L
time determined by the Board OF Directors
The Directors when elected shall hold otiict
have been elected and qualified, and taiIur'
TO hold the annual meeting OF stockh9Lder
or to elect annually the Directors shall no
operate the forfeiture OF this charter or an!
rights hereunder.
The first officers of this CorPoration,' WI
shall hold office until the second luesua! /
January. 1920. or until their successors ar
elected and qualified, shall be-; NJ; Dreau.
Van Horn, President; Morris Il. kedmahh
Vice-President Louis L. Abbott, Secretar,
and Treasurer" Any vacancy oTIuittns -
the Board of Directors may be filled by tn
Directors for the unexpired term. The hrs
BOARD Of Directors shall hold office until IN
second Tuesday in January, 1870 or uni
their successors are elected ana quaIl.ee
The Secretary OF the Corporation Heeu Nv
be a stockholder.
ARTICLE VIII.-This Charter or Act OF or
cornoration NAV be changed, modified, a
tered or amend>l by and with the cohSct
al two-thirds of all the stock at any mee'
ing general or special, held for. that pui
? nose: and such amendments may be materli
~ inmaferial subject only TO limitation a
NAV be by law provided, and this corporatio
shall have the right and power 10 increase {
decrease its capital stock as heTelhoeIole .
out, and any increase OF the capltal s'oS
exceeding the amount herein named as u
amount TO which the capital stock may j
Increased, may be made by three iourth' Vo
of all outstanding stock.
ARTICLE IX.-Notice of any and all NEE
: ings referred to in this charter or require
by law. shall be given in the manner pr
b vided of giving notices III case OF eIeS''
unless the same shall have been waved.
ARTICLE X-In the case of dissolutlo
/ Humiliation or termination of this charter L
:. Limitation or otherwise, the affairs OF tn
corporation shall be liquidated by one
> more liuuidators elected by the stockhoide
4 who may provide the number OF SAID lqu
dators and vest them with such power a.
: authority as may be by law permitted; I
+ the terms and conditions upon which th'
i shall serve and their compensation and pr
vide that in case of the death or disaDlli
. of any one of the said liquldators, the 7
4 | naming lQuludtOIS HFdS III tN 'HN'.
= continue to act on behalf OF the corporate
e ARTICLE XI.-No stakeholder of this CO
marathon shall be liable or responsible I
any acts. contract. debt, or default OF IN
IS company or of any of its officers, nor shs
anv i~nformality in organization have the {
d feet of rendering this charter null and vol!!
or of exposing the stockholders to any II
IS bility beyond the unpaid balance due on I
stock held by them.
ARTICLE NII.-The subscribers here
have written opposite their names the nu'
Der of shares subscribed for by each OF the
and their post office addresses, so that II
charter may serve as the subscription list
N Thus done and signed at the City OF NJ
:, Orleans, Louisiana, this 9th day of Augu
re 1919. in the presence of II. l.. Barnett a
r Walter Revertiga, competent witnesses,
lie siding at New Orleans, State OF Loulslar
who have signed these presents, togetf
IL with the said appearers and me, Notary, All
/; due reading of the whole.
to Witnesses: II. L. Barnett, Walter Rev
tiga.
ID Original Signed Names of subscribe
ID omitted.
=, WILLIAM J. GUSTE;.
= Notary Public
TO I. the undersigned Recorder of Mortgag
e; in and for the Parish of Orleans, State
es Louisiana. do hereby certify that the abe
ne and foregoing act of incorporation OF Pr
ne perity Realty Company, Incorporated, :"
On this day duly recorded in my ott1ce IN DO
1921, Folio 229.
h. fS:-..n EMJT Z I DIV.