The herald., 1920-12-23
AMENDMENT TO
CHARTER OF THE PEOPLES HOME
STEAD ASSOCIATIONS.

United states of America. STATE of Lou
i>inua Parish of Orleans. city OF New 'r-
beans. l;r it known. That on TN. daN' the
of the month of October. IN
the wear Of our Lord ons thousand nine
hundred and twenty. and Of the luNrprh-
drucr of the United States Of America, thr
one hundred and forty NTH. h"tor" me,
Eu>>irrc Roucn. Notary Public. in aud
for the Parish of Orleans. State of Lon
isiana duly commissioned. sworn and quail
ifpd, and in the presence OF the witnesses
hereinafter named and undcrSiGnrd. per
sonally came and appeared Mr. Daniel /.
Cummings. Vice President. and Miss Lille
Fitzgerald. Secretary of The Peoples
Homestead Association. duly inrorpor-
atpd institution. dOmicilrd in this city.
created by act of incorporation passed be
fore Marcel I. DucroS. late Notary run
lie in this city. on the lith day of sep
t.mber. 1SS2. and recorded in tn" MortgaG"
Office for this Parish. in Book 226. Folio
49, and fully amended as shown by acts
before Theodore g. SpitZfadrn. Notary
Public in this city, on the 2Nth day Of
March. lSlN. recorded in said Mortgage
Office i'm Book 600. Folio Lj3. on the Ord
day of November. 1908, recorded in said
Mortgage Office in Book No. ~. Folio II.
and on the 3lSt day of August. 1901. r.
corded in the said Mortgage oftic" in Book
Isl Folio 64d. and also amended by acts
before me- BuSSiere ROuen. the under
signed Notary. on the 9th day Of August.
1906: recorded in Mortgage Onice in Book
80. Folio 4:SN. and on september !. IBID.
recorded in said Mortgage Office in Book
No. 49,. Folio 400 Which said appearer>
declare that. mt meeting of the stock
holders of the said corporation. held on
Tuesday. the fifth day of October. 1870.
after due notice published in the Times
PiCayune, a daily newspaper of this city.
aS required by the charter. the whole as
will appear by reference 10 the annexed
certified copy Of the proceedings of the
said meeting by unanimous vote of the
being
twenty four hundred and seventy shares.
certain changes in and amendments 10 the
charter of the said corporation were adopt
cd. And said apDearcrS further declared
that for the convenience of the StOckhold-
erS and others in interest. they COnSid-
cred II 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 he sued to make and u.s.
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. OF meet tnt IaDlltN lot redemption
! or payment of matured shares; to name
| and appoint such officers and agents as
/ the interest and convenience of said cor
/ poration may require; to make and eStab
! liSh 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 4
change and alter ut pleasure, and TO do al
such acts and things as are or may b'
| necessary and proper to carry out the oh
jectS and purposes of said corporation.
ARTICLE ii. Domicile-Term. 49, Thu
! dOmicile of said corporation shall be il
the Citv of New Orleans. in the State o
| Louisiana. and all citations or other lega
process shall be served upon the PreSi
dent of the corporation. or. in his alb
sence, upon the Vice President or, in tn
absence of both, upon the Second Vic
President, or, in the absence of all three
upon the Secretary.
Unless sooner dissolved and liduidatcd
as provided in this charter, the said cor
pOratiOn shall continue and exist and carr,
on business for and during the term o
ninety nine years from and after the 14tl
day Of September, 1882.
! 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
~ homestead and commercial or manufac
turing property. in the Parishes of Orleans
jefferson and st. Bernard, Louisiana. AM
in removing membranes and mortgage
from such property; and to this end Z
accumulate an investment fund through
payment by members on their shares. o
from money received from other sources
and to loan said fund on vendors privtleg
and mortgage on real estate. or on share
of the Association. or on other Securit,
satisfactory to the Board Of Directors.
Advances-NO loan shall be made excep
to shareholders of this Association, and al
loans shall be made under the control an
| supervision of the Board of Directors. an
subject to such rules and regulations a
provided by the bylaws, or special resOlu
ton Of the Board.
Other POwers.-The Association sha
, have the right and power to borrow mon
ey. either furnishing or without furnish
, ing security; TO secure the repayment @
money borrowed by pledge. or mortgag,
or in such other way as the Board OF ID
rectOrs may deem proper; to purchas
acquire, hold. own and sell real eStat
! and bonds and shares of such corporation
I as shall he satisfactory to the Board.
Power to Acquire Business of other Al
o Sociations.-The Association shall have Il
right and power to acquire. under sue
. terms and conditions as may be fixed /
a | the Board of Directors. the property, a
q | sets, rights, business, etc, Of any 9TH
!, | corporation having the same objects
!, this Association or similar objects. and
= make all necessary contracts and arrang
a. mentS with such corporation or cOrpor
:, tiOns and the stockholders thereof.
p ARTICLE IV.-Capital Stock--DividenG
Capital Stock.-The capital stock of I'll
=, Association is fixed at ten million dollar
- All shares issued prior to October
y 1920, shall remain as issued. as provid
L in Article WI. of this charter; and
shares issued after said date shall have
g par value of fifty dollars each. and sh