The herald. [volume] (New Orleans, La.) 1905-1953, 1920-12-09
CHARTER.

herein set forth, winch theS duOP' Il"
ARTiCLE THE name Of this corpora
ton shall be The Standard housing
Investment Association, Incorporated.
ARTICLE 1.-THE objects ana PuIF" 'r'.I
Of this corporation are hereby declared
to be: $500 -.
To buy, own. build. sell. exchange. leaNr
mortgage. hypOthrcate, improve or JIM
wise affect, immovael" properly, Sir.,',iu
for the purpose Of own 2 or ere, tln-
therpupOn. and leasing, ceiling, or othtT
wise dispOsinE of, apartment buiiIin-
apartments, Hats duplcAes, rrNldch'l"I an"
Also TO buy. sell handl" and deal in
lumber and building materials, elther loi
the use OF this corporation III come, w"
with Its business. or IN pur'IS nv
camille manner. and for its own account
to contract for the purchase ana saI' 90
plumbing. electrical and any othrr SUP
plies. appliances OF apparatus tohhv' ~
with the building trades, and TO lhStall OF
contract for the installation of same elth'i
in its own properties or IN PrOp'Iu'S
other than it, own; to handle sales an"
leases Of real estate, improved or uhiIil
proved. and to act as agent with rcitr
ruce thercunto: and 10 place, as Prlh'lPa
or as agent, policies of insurance. OF every
character or description, related I" "
purposes Of this corporation. but lncIud
ing only such rs relates To property Dun"
Ing construction and the Ike.
And generally 10 do any and all ihlhE'
deemed necessary and adNlsahI' III con
nrctiun with the purposes above SIat"'
and deemed essential to their en~'tual ~
rcution and also to do and perform any
and all things related or german" 10 '"'
objects ANA purposes just expressed.
ARTICLE IlI.-ThiS corporation Shai
have and enjoy all powers and privilege
granted CORPORATIONS under the laws o.
Louisiana. ,.
ARTICLE IV-Thr capital stock Of thi.
corporation i hereby fixed ut on" hunnr''
thousand dollars 100000 uD, divided Int
ON, thousand shares OF 81 par Nalu" Of on
hundred dollars $4,000 per share. NJ
of said stock shall be common stock.
The capital stock Of this corporation
may be- Increased TO two hundred thouS
and dollars $500 UpDOu. divided into tW'
thousand shares of par value of ou'
hundred dollars t$looo0l per share. Ihl'
corporation may do business when seventy
fiyc thousand dollars tNIIhuVVni OF l'
capital stock tSeycu hundred ana hil'
sharrsl shall have been subscribed an'
paid for.
The capital stock OF this corporation
NAV bp increased to the extent PROVIDE
above or any part thereof by Issuance o.
either common or preferred stock, IN sue.
proportions as may be decided bE iHl'
corporation under the provisions OF thl'
charter and according To law.
ARTICLE N.-The dOmiciic Of this cor
poration shall be in the city Of New or
leans.
ARTICLE VI-ThiS corporation shall
exist and have succession for a period o.
ninrty-Hinc years.
ARTICLE VII-Scryice Of process shall
be made upon the President of this cor
poratiou and in his absence. upon any
other officer, and otherwise according tC
law.
ARTICLE VIII.-The affairs Of this cor
poratiOn shall he administered by a Boart
Of Directors consisting Of not less than
three nor more than seven stockholders
elected annually on the third Monday IN
January of every year beginning in 1922
Directors and officers shall hold office I'M
til their successors shall have been elected
and qualified. Vacancies on the Board
shall be Immediately filled at a spccia
meeting of stockholders held after fifteen
days written notice. Officers shall b,
elected annually by the Hoard from among
their number within thirty days after
their election. The officers shall consist
Of a President, Nice-President, Treasurer
and Secretary.
ARTICLE IN.-The President Of thi,
corporation shall have authority, without
further authorization or resolution, to sign
on behalf of this corporation; all notes
checks, drafts, contracts. bids. acceptances
sales, acts of purchase or acquisition
bonds or applications for bonds. mort
cages or mortgage notes; appertaining to
affecting or relating to any Of the pr
erty of this corporation or In which this
corporation may have an interest, pro
prietary or otherwise; and TO sign. issue
or execute any other documents. includ-
ing judicial pleadings, which. in his judg
ment. the interest of the corporation may
require.
The President shall have full charge and
control of the policies of the corporation
and shall have the authority to engage
hire and dismiss all agents and employees
of the corporation; and, in general, shall
have power to do any and all things
deemed by him necessary for the full ac-
cOmplishment of the foregoing authority
and the purposes OF this corporation.
ARTICLE X-The following shall con.
stitute the first Board of Directors and
officers of this corporation, to serve until
the first meeting of stockholders in 1922
as herein fixed. or until their successors
are elected and qualified: NJ. John San
gassan. President: John Sangassan, Vice
President and Treasurer; n. Geo. DeLucas,
Secretary.
ARTICLE XI-The subscribers to the
capital stock of this corporation have here
unto signed their names and addresses
and the number of shares subscribed for
by each. and 1t is declared that all SUI
subscriptions have been fully paid for.
ARTICLE XII.-No stock of this cor
poration shall issue except in cOnsidera-
ton of cash or property adapted to the
uses of this corporation or valuable serv-
erty transferred to this corporation in con
sideratiOn for its stock Is inventoried and
appraised on the exhibit attached hereto
according to law.
this corporation shall be sold until ii
shall first have been rendered to this
corporation in writing through its Board
of Directors and after thirty days have
elapsed following the receipt of such
notice to said Board. In the interim this
corporation shall have the right to pur-
chase such stock at book value and the
holder is bound TO sell same TO the cor
poratiOn or to such transferee as may BE-
designated and at such valuation.
No transfer shall be valid unless the
provisions of this article shall have been
complied with; and this corporation shall
R.N ha. hW~
tered and of record on its books.
All certificates of stock issued by this
corporation shall bear printed across the
face thereof the notation: Issued and
transferable only In strict accordance with
the provisions of the charter and bylaws
Of this corporation"
ARTICLE XIV.-This charter may be
amended at a special meeting of stock
holders held after fifteen Q5) days call
and on vote of three-fourths (3-4) of the
outstanding stock.
ARTICLE &V.-This corporation shall
be liquidated or dissolved in accordance
with existing laws.
In the event Of liquidation. the Board of
Directors or any one thereof selected as
such by a majority of said Board, shall
act as hquidators or iquidatOr, as the
case may be.
Thus done and passed, in my Office in
the city of New Orleans, La, on the day.
month and year first above written in