The herald., 1920-12-09
AMENDMENT TO
or THE PEOPLES HOME
STEAD ASSOCIATION.

United states Of America. State Of Lou
~nua. Parish Of Orleans. City Of New or
leans. lsr 10 known. That on this day, the
fourteenth of the month of October. IN
tine year Of our Lord on thousand nine
hundred aut twenty. and or the lnd'prh-
Grucr Of the United States of America, the
one hundred and fOrty-Hfth, before me.
IUSSipre Eouru, Notary Public, in and
for the Parish of Orleans. state of Lou
i~iaua. duly commissioned. sworn and quail
flied, and in the presence of the witnesses
hereinafter named and undersigned. per-
sunally came and appeared Mr.. Daniel 4.
Cummings. Vice President, and Miss Lille
Fitzgerald. Secretary of The Peoples
Homestead Association. q duly iucOrpor-
atrd institution, domirilrd in this city.
created by act of Incorporation passed be
fore Marcel r. DucroS late Notary Pub
lie in this city. on the nth day of Sep
trmber 1852. and recorded i'm the Mortgage
Office for this Parish. in Book 226. Folio
lg2. and fully amended as shown by acts
before Theodore g. SpitzfadCn. a Notary
Public in this city, on the 18th day of
March. 1895. recorded in said Mortgage
Office in Book COO, Folio jJ3 on the 23rd
day of November. 1903, recorded in said
Mortgage Office in Book No. Isl, Folio Is.
and on the 3lSt day of August. 1904. re
corded in the said Mortgage Office in Book
Isl Folio 6i6 and also amended by acts
before me. BuSSere Rouen. the under
signed Notary. on the 9th day of August.
1906: recorded in Mortgage Office in Book
so Folio 1875 and on September /. 1915,
recorded in said Mortgage Office in Book
No. 1851. Folio 400. Which said appearerS
declare that, at Il meeting of the stock
holders of the said corporation. held on
Tuesday. the fifth day of October. 1920.
after due notice published in the Times
picayune, daily newspaper of this city.
as required by the charter. the whole as
will appear by reference to the annexed
certified copy of the proceedings of the
said meeting. by unanimous vote of the
stock represented mt said meeting. being
tIventy-fOur hundred and seventy shares.
certain changes in and amendments to the
charter of the said corporation were adopt
Cd. And said appearers further declared
that for the convenience of the StOCkhOld-
erS and others in interest. they cOnSid-
cred it proper to set forth herein the en-
tire charter Of the said Association. as
amended. and that the said charter. as now
in force, is as follows:
Article Name and General Powers
The name and title of said corr Grafton
shall be The Peoples Homestead AsSOcia-
ton" and under its said corporate name
il shall have power and authority to con-
tract. sue and he sued: to make and Use
a corporate seal. and the same TO break or
alter at pleasure; to hold. receive. lease.
purchase, convey, pledge and mortgage.
under itS corporate name, property. both
real and personal: to lend or borrow money
on security; to establish and maintain
out of its receipts from any source. such
special funds as may he necessary to cover
losses. or meet the liability for redemption
or payment of matured shares; to name
and appoint such officers and agents rs
the interest and convenience of said cor
pOration may require: to make and eStah
ltSh such bylaws. rules and regulations
for the proper management and regulation
of the affairs of said corporation as may
be necessary and proper and the same to
change and alter at pleasure. and to do all
such acts and things as are or may be
necessary and proper to carry out the oh
jectS and purposes of said corporation.
ARTICLE H. - DOmicie-Term. - The
| dOnicile of said corporation shall be in
the Citv of New Orleans in the State of
Louisiana. and all citations or other legal
process shall be served upon the PreSi-
dent Of the corporation. or. in his alb
sence, upon the Vice President. or, in the
absence of both. upon the Second Vice
President, or. in the absence of all three,
upon the Secretary.
Unless sooner dissolved and liquidatcd.
as provided in this charter, the said cor
pOration shall continue and exist and carry
on business for and during the term of
ninety nine years from and after the 18th
day of September, 1852.
ARTICLE III-Objects and Purposes
ObjectS.-The objects for which this cor
pOratiOn is formed are: To assist the MEM
berS thereof in purchasing. building. i'm
proving and repairing real estate. especial
ly homestead and commercial or manufac-
turing property, in the Parishes of Orleans,
Jefferson and st. Bernard, Louisiana. and
in removing membranes and mortgages
lTolf Sutn property, ana 10 JnlS enu TO
accumulate an investment fund through
payment by members on their shares, or
from money received from other sources ::
and to loan said fund on vendors privilege
and mortgage on real estate, or on shares
of the Association, or on other security
satisfactory to the Board of Directors.
Adyances.-NO loan shall be made except
to shareholders of this Association, and all
loans shall be made under the control and
supervision Of the Board of Directors. and
subject to such rules and regulations as
provided by the bylaws, or special resolu-
tiOn of the Board.
other Powers.-The Association shall
have the right and power to borrow mon
ey. either furnishing or without furnish
ing security; to secure the repayment of
money borrowed by pledge. or mortgage,
or in such other way as the Board of Di-
rectOrs may deem proper; to purchase.
| acquire, hold. own and sell real estate
and bonds and shares of such corporations
as shall be satisfactory to the Board.
Power to Acquire Business of other As
! sOciatiOns.-The Association shall have the
; right and power to acquire, under such
/ terms and conditions as may be fixed by
/ the Board of Directors. the property, as
/ sets, rights, business, etc. of any other
| corporation having the same objects as
/ this Association or similar objects, and to
/ make all necessary contracts and arrange
ments with such corporation or corpora
/ tiOns and the stockholders thereof
ARTICLE Iv.-Capital StOck-Dividends
/ Capital Stock.-The capital stock of this
| Association is fixed at ten million dollars
All shares issued prior to October 15
| 1920. shall remain as issued. as provided
| in Article XVI of this charter; and all
| shares issued after said date shall have a
par value of fifty dollars each, and shall