The herald., 1920-11-25
CHARTER.
AMENDMENT TO
CHARTER OF THE PEOPLES HOME
STEAD ASSOCIATION

United states or America. State of Lou
: lSiana, Parish of Orleans. City of New Or
leans. BE it known. That on this day. tho
| fourteenth of the month of October in
the year of our Lord ons thousand min.
hundred aud twenty, and of the Ind"pen-
denCr of the United States of America tho
one hundred and fOrty-tifth. before mo
| BuSSiere Roucn, 4 Notary Public in and
| for the Parish of Orleans. State of Lon
I lslana, duly commissioned, sworn and oUoI-
ihed, and In the presence of the witnesses
hereinafter named and Undersigned par-
SonalIy cam" and appeared Mr.. Daniel T
IummlnSS, Vice President and Miss Lille
| Fitzgerald, Secretary of The PropIr'>
! Homestead Association. q duly in.orror-
! attd institution. dOmiciIrd i'm This Sit,
/ created by act Of Incorporation passed b.
| fore Marcel T DucrO>. late a Nntary PM
! Inc in this city. on the l4th day of Son
| t"mher. 1852. and recorded i'm tn, Nortl,ytr,.
| biIc" for this Parish. i'm Book 12G Folio
~. ana tniiy amended rs shown by acts
/ before Theodore q. Spitzfadrn a Notary
! iuhlic in this city. on the 2>th dav of
| MIf'h. ISIS. recorded in said Mortgage
| ono" in Book 500. Folio 513. on the 23rd
| day of November. 1909. recorded In s,id
! Mortgage Office in Book No. Isl Folio m
/ ana on the 3lSt day Of August 1904 re
/ corded in the said Mortgage Office i'm Book
Isl Folio Gi6 and also amended NV NJ,
! befOr" mo. BusSierc Rourn the nnJ,r
| SiGn"d Notary. on the 9th dav of Nu.,u.r
| 1905: recorded In Mortgage OfIire in Eont
- f"no ~ ana on September l. 1913
/ recorded in said Mortgage Office i'm E,,L
! No. llII. Folio 400. Which said .uDa.r.rs
| u"Clar" that. az a meeting of the stock
noI"rrN "t the said corporation. held on
Tuesday. the fifth day of October 100
| after du" notice published in the Times.
ilcaNunc. a daily newspaper of this city
~ required by the charter the who'll d. =
VIII appear by reference to the annexed
| ''rllh"d copy of tn" proceedings of the
Nald meeting. by unanimous vote of tho
STOCK represented nj said meeting bpiul,
tWenty-four hundred and seventy shares
certain changes in and amendments 10 tho
charter of the said corporation were adort
cd. And said appear"rS further declared
lhat Tor the convenience Of the StOrkboI5-
'rN ana Others in interest. they cunSid. !
'r'd u proper to set forth herein the en-
tire charter Of the said Association gs |
iW"nd"d. and thar the said charter. as now
IN force. l. a. follows:
rArtl'l" Name and General Powers -
inc name and title Of said rorpnratinn |
snail he The Peoples Homestead N..nri, !
non. and under its said corporate name
II >haIi have power and authority to con |
q 'orp"rht" seal and the same 10 break or
"lt'r nj pleasure: To- hold receive Irn..
purchase. convey. pl"dg" and mOrt.rltra
n"i'I Us corporate" name. property. both
real ana personal. To lend or borrow mouo,.
on security: to establish and maintain |
ont OF its receipts from any source such :
special funds ~ may lee necessary to cover
LOSSES. or meet the liability for rrdouptiou !
or payment Of maturrd shares. 70 n,mn |
ana appoint such officers and agents rs
thr interest and convenience Of said cor
i,'ii'l'H HldN require. to make and pStgh-
Il>h Nuch bylaws, rules aud rcgulations
LOT IN" proper management and regulation
pI the AFFAIRS Of said corporation as may
ID" necessary and proper. and the same to
mango ana alter ut pleasure. and To do all
Su'h acts and things as are or may h.. |
necessary and proper t. carry out the oh ,
J"'tN aud purposes of said corporation
ARTICLE IL Domicile-Term. -T The
lomlClle of said corporation shall be in |
the civ of New Orleans. in tho Stotc nf e
LOUISIANA and all citations or other legal q
process shall be served upon the Prr,i-
irnt OF the corporation. or. in his alb (,
>rh'e upon the Vice President. or in the
lbSrnc" OF both. upon the Second Vice
resident, or in the absence Of all three :
lpOn the Secretary. =
Unless sooner dissolved and Inundated
Is provided in this charter. the said cor '
'ordtiOn shall continue and exist and carry 4
'n business for and during the term Of I,
ninety mine years from and after the IAN I,
lay of September, 1852.
ARTICLE III.-ObjectS and PURPOSES Il
,nJr,tS.. ne objects for which this cor :,
'"ration II formed are: To assist the mem W
'"rS thereof in purchasing. building i'm -
'roNlnG and repairing real estate especial W
homestead and commercial or manufar- u
urlhS property, in the Parishes of Orleans / 81
Jefferson ana st. BERNARD, Louisiana and =
II removing membranes and mortg cages
rom SIch property; and TO this end to !.
r'Gnulate an investment fund through !,
'hNm"nt by members on their shares. or y
rom money received from other sources: Il
nd To loan said fund on vendors priyilrp. u
"a mortgage on real estate, or on shares II
II me Association. or on other security -
to the Board of Directors i
Advances.-No loan shall be made pxcept II
shareholders of this Association and all n
cams shall be made under the control and Il
uPerNlSlon OF the Board of Directors and n
ubject to such rules and regulations ms ri
.rovided by the bylaws or special resoIu- 5,
ion of the Board o
other Powers.-The Association shall :,
ave the right and power to borrow mon \
Y. either furnishing or without furnish b.
NJ security; to secure the repayment of II
money borrowed by pledge. or mortgage.
r IN such other way as the Board of III -
cquire, hold, own and sell real estate pr
nd bonds and shares OF such corporations p'
5 snail be satisfactory to the Board. 81
Power to Acquire Business of Other As II,
ocianons;-Ihe Association shall have the m
lSht ana power to acquire. under such 4,
'rmS and conditions as may he fixed nv v
ne BOARD OF DIRECTORS the property, as 81
Us rlghts' business, etc, of any other m
MS Association or similar objects, and 70 go
axe All necessary contracts and arrange ,n
entS with such corporation or corpora Sn
onS and the stockholders thereof 90.
ARTICLE Iy.-CapitaI Stock-Dividends Io
Capital Stock.-The capital stock of This no
SSociatlOn Is hXed ut ten million dollars 70
u shares issued prior to October IL Sh
~; shall remain as issued. as provided in
larSS issued after said date shall have n ca
'r value of fifty dollars each, and shall of
; divided into installment stock and fun de
ild STOCK. as may he determined from
me- TO time. by the Board 10
lnStalIment ShareS.-InStallment shares rO
an De paid for in monthly payments of m
u less than fifty cents per share nor clu
onth. When shares are pledged as So th'
rity for real estate loans the monthly 10
lymentS made by the shareholder shall me
imputed as hereinafter provided: and ma
~ additional payments may be made nf tin
y tlme. or IN any amount, at the option
the shareholder. du
Emil Paid Stool u-,,I -, , IN
issued from time to time as the BOARD oI vi,
directors may determine: shall be maid Nv;
In full when issued; shall receive diyi- 81
mas IN cash. and may be withdrawn or 10,
He'd in. as hereinafter provided n 90,
l'lyldendS.-At the end of every six m,
OhthS the profits of the Association shall sir
credited to the several kinds of stock
proportion to the capital invested. and in,
Ter such sums shall have been set aside TO
account of Reserve. Surplus or other in,
nus as the Board shall deem fit. divi. tn,
ms shall be declared. and the amount an
lie on installment shares shall he credited INF
ereon in such manner as the Board NAV to
termlne, and the amount due on fuiI en-
"a stock shall be paid to the holders in ad
Sh: The dividends declared by the BOARD
an De nnal and conclusive upOn all stock w
lders. MI ''0oN ts
Dividends Paid in Full or Withdrawal sh
dividends credited in passboOks of the cla
'sOciation after September LIST, 1915 shall I'M
considered on withdrawal of shares at De
&c value. " ed
Distribution on DISQUALIFICATION the nh