The herald. [volume] (New Orleans, La.) 1905-1953, 1920-12-16
CHARTER OF THE STANDARD HOUS-
ING & INVESTMENT ASSOCIA-
TION INCORPORATED.

| day of the month Of October. in the yea
! of our Lord, one thousand, nine hundred
and twenty and of the Independence 4"
the United States of America, the on,
hundred and forty-hfth, before me. Sol
Weiss a Notary Public. duly commissioner
and qualified in and for the above City
Parish and State. therein residing, an,
in the presence Of the witnesses herein
after named and undersigned, personally
came and appeared the several persons
whose names are hCrcuntO subscribed. Wh'
declared that they are Of full az" OF ma
iuritv and ayailiug themselves OF the laws
Of the state of Louisiana, relative to tn,
organization of corporations, III such case
made and provided. they constitute them
selves. their associates, successors, and as
signs. corporation under the StipulatlUu'
herein set forth, which they adopt as theIl
charter. tO-wit:
ARTICLE The name Of this corpora
ton shall be The Standard Housing ~
Investment Association, Incorporated.
ARTICLE 1.-THE objects and purpose
of this corporation are hereby declared
to be:
TO buy. own, build. sell exchange. leaS"
mortgage hypOthccate, improve, or other
wise affect. immOvahle property. especially
for the purpose OF owning or erecting
thprrupOn, and leasing. selling, or Othcr-
wise diSpoSine of. apartment buildings.
apartments, flats. duplcNes, residential ana
business properties:
Also TO buy, sell, handle ana deal IN
lumber aud building materials, either for
the use of this corporation in connection
with its business. or in purely mcr-
camille manner, and for its own account
TO contract for the purchase ana sale OF
plumbing. electrical and any other sup
plies appliances or apparatus connected
with the building trades, and to install or
contract for the installation OF same, either
in its own properties or in properties
other than its own; to handle sales and
leases of real estate, improved or unlm-
proved, and to act rs agent with refer
ence thereunto; and TO place. as principal
Ii. .aTN
character or description, related TO III"
purposes of this corporation, but lnclud-
ing only such as relates to property, build
ing construction and the like;
And generally TO do any and all things
deemed necessary and advisable in con-
nection with the purposes above stated
and deemed essential TO their eflectual cN-
ecutiOn and also to do and perform any
and all things related or cermane to the
objects and purposes just expressed.
ARTICLE III.-This corporation shall
have and enjoy all powers and privileges
granted corporations under the laws of
ARTICLE Iv.-The capital stock of this
corporation is hereby fixed at one hundred
thousand dollars ($lOO.OOOOD, divided into
one thousand shares of par value OF one
hundred dollars ($l000O) per share. All
of said stock shall be common stock.
The capital stock of this corporation
may be increased to two hundred thous-
and dollars (S2O0,0O000), divided into two
thousand shares of a par value Of one
hundred dollars (SlOOOOj per share. This
corporation may do business when seventy
five thousand dollars (SI5,OOO.OO of it,
capital stock (seven hundred and fifty
shares) shall have been subscribed and
paid for.
The capital stock of this corporation
may be increased to the extent provided
above or any part thereof. by issuance of
either common or preferred stock, in such
as may be decided by this
under the provisions of this
charter and according 10 law.
ARTICLE V.-The dOmicile of this cor
pOration shall be in the city of New Or
leans.
Exist and have succession for a period of
ninety nine years.
ARTICLE VII-Service of process shall
be made upon the President of this cor
DOratiOn and in his absence, upon any
,ther officer, and otherwise according to
aw.
ARTICLE VIII-The affairs Of this cor
loratiOn shall be administered by a Board |
# Directors consisting of not less than |
hree nor more than seven stockholders. |
-lected annually on the third Monday in |
January of every year beginning in 1922. |
Directors and officers shall hold Office un- |
ii their successors shall have been elected |
md qualified. Vacancies on the Board |
hall be Immediately filled at a special |
Meeting of stockholders held after fifteen |
lected annually by the Board from among |
heir number within thirty days after |
heir election The officers shall consist |
f a President, Nice-President, Treasurer |
nd Secretary.
ARTICLE IX-The President of this 1
corporation shall have authority, without |
urther authorization or resolution. TO sign |
m behalf of this corporation; all notes. |
heckS. drafts, contracts, bids. acceptances |
4 bids, acceptances of contracts, leases, |
ales. acts of purchase or acquisition. |
'Onds or applications for bonds mort |
ages or mortgage notes; appertaining to- /
nnRfin@ n III
rty of this corporation or in which this |
corporation may have an interest, pro-
'rietary or otherwise; and to sign, issue |
n execute any other documents. includ- |
ng judicial pleadings, which. in his judg |
nent, the interest of the corporation may |
eQuire.
The President shall have full charge and
OntrOl of the policies of the corporation,
nd shall have the authority to engage,
ire and dismiss all agents and employees
f the corporation; and, in general shall
eemed by him necessary for the full ac-
of the foregoing authority |
nd the purposes of this corporation.
ARTICLE X.-The following shall con-
Ulcers of this corporation, to serve until
he first meeting OF stockholders in 1922
S herein fixed, or until their successors
re elected and qualified: NJ. John San
assam, President; John SangaSsan, Vice
resident and Treasurer; NJ. Geo. DeLucaS,
ecretary.
ARTICLE XI.-The subscribers to the
apital stock of this corporation have here
INTO signed their names and addresses, |
nd the number of shares subscribed for |
Y each, and it is declared that all sue
subscriptions have been fully paid for.
ARTICLE XJl.-No stock of this cor |
Grafton shall issue except in considera-
on of cash or property adapted to the
SEES of this corporation or valuable serv-
,es actually rendered to it. Any prop
rty transferred to this corporation in con
Iteration for its stock is inventOried and
ppraised on the exhibit attached hereto,
to law.
ARTICLE XIII.-No share of stock in
his corporation shall be sold until it
hall first have been rendered to this
lrPoration in writing through its Board
| Directors and after thirty days have
apsed following the receipt of such
office to said Board. In the interim this ,
Irporatfon shall have the right to pur-
laSe such stock at book value and the
older Is bound to sell same to the cor !
Dration or to such transferee as may be
aslgnated and at such valuation.
NO transfer shall be valid unless the 4
rovisions of this article shall have been
implied with; and this corporation shall
Dt be bound by any transfer unless en-.
red and of record on its books.
All certificates of stock issued by this
'rporation shall bear printed across the
ice thereof the notation: Issued and
ansferable only in strict accordance with
re provisions OF the charter and bylaws
this corporation"
ARTICLE XIV.-This charter NAV be I
nended at special meeting of stock. I
olders held after fifteen Q5) days call ]
"a on vote OF three-fourths (3-4 of the G
ltstanding stock.
ARTICLE XV.-This corporation shall
hquidated or dissolved in accordance
18th existing laws.
In the event Of Il