The herald. [volume] (New Orleans, La.) 1905-1953, 1920-12-30
AMENDMENT TO
CHARTER OF THE PEOPLES HOME
STEAD ASSOCIATIONS.

7 |--|T
-aua. Parish of Orleans, city OF New Or
leans. iip II known, That on TINS day, the
IuuIlrruth OF the month of October, III
the wear of our Lord Uus thousand nine
nuuur"d aud twenty, and Of the lndeptn-
,Iruu,. of the uItpu States of America, the
one huuuTed and tOrty-ntth, before me,
l:uS>Ivrr EuUcn, a Notary Public, III ana
Tor the Parish OF Orleans, State of Lou
I>iuHa, duly commissioned, sworn and quail
IIvd. and III the presence OF the witnesses
hereinafter named and undersigned, per
SOnHlly came and appeared Mr.. Daniel i
Cummings, Vice President, and Miss Lille
Fitzgerald, Secretary OF The People
Homestead Association. Il duly iuroTpOr-
ated institution, dumicilrd in this city
created by act of Incorporation passed be
fore Marcel Il. DuCrOS, late a Notary Pub
lie in this city, on the nth day of sep
tpmbpF. ISL and recorded i'm the Mort "a gt
Office for this Parish Ia Book 226. tolio
1872, and fully amended as shown by acts
before Theodore q. SpitZfaden. Notary
Public in this city, on the 18th day OF
March, lSgN, recorded in said Mortgage
Office in Book 600, Folio J53, on the 23rd
day OF November, 1903. recorded in said
Mortgage Office in Book No. Isl. Folio -
and on the 3lSt day of August, 1904, re-
corded in the said Mortgage Office in BOOK
~. Folio Gi6. and also amended by act,
before me, BusSiere ROuen, the under
signed Notary, on the 9th day of August
1896; recorded in Mortgage Office in Book
so Folio 43S. and on September /. 1918
No. 49,. Folio 400. Which said appeH rcr>
declare that at n meeting of the stock
holders of the said corporation. held on
Tuesday, the NTH 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 ut said meeting, being
twenty-fOur hundred and seventy shares.
certain changes in and amendments to the
charter of the said corporation We're adopt
ed. And said appearerS further declared
that for the convenience of the Stockhold-
erS and others in interest, they cOnSid-
cred IL 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 corporation
shall be The Peoples Homestead AsSOcia-
ton and under its said corporate name
il shall have power and authority to con-
tract, sue and be sued; to make and use
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 be necessary to cover
losses, or meet the liability for redemption
and appoint such officers and agents as
the interest and convenience of said cor
pOration may require; to make and estab-
llsh such bylaws, rules and regulations
Tor 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 II nomipila- nh
domicile of said corporation shall be in
the CITY of New Orleans, in the. State of
Louisiana. and all citations or other legal
process shah 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 aH three,
upon the Secretary.
Unless sooner dissolved and liquidated
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 nth
day of September, 1882.
ARTICLE III.-Objects and Purposes
Objects.-The objects for which this cor
pOratiOn is formed are: To assist the mem
beers thereof in purchasing building, i'm
proving and repairing real estate. especial
~ homestead and commercial or manufac-
turing property, in the Parishes of Orleans
Jefferson and ST. Bernard, Louisiana and
from such property; and TO this end 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.
Advances.-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-
ton of the Board.
Other POwers.-The Association shall
have the right and power to borrow mon
oy, either furnishing or without furnish
lhg security; to secure the repayment of
money borrowed by pledge, or mortgage.
or IN such other way as the Board of Di-
fe'tnrs may deem proper; to purchase,
acquire, hold, own and sell real estate
ana bonds and shares of such corporations
as shall be satisfactory to the Board.
Power to Acquire Business of Other As
Spclauons-The Association shall have the
right and power to acquire under such
terms and conditions as may be fixed by
me Board Of Directors, the property, as
SEE 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
lnehts with such corporation or corpora
uonS and the stockholders thereof
ARTICLE IV.-Capital Stock-DividendS
capital StOck.-The capital stock of this
Association is fixed at ten million dollars.
n ,a5o shares issued prior to October IL,
wv; shall remain as issued, as provided
IN Article WI. of this charter: and all
! shares issued after said date shall have a
] par value of fifty dollars each, and shall