The herald. [volume] (New Orleans, La.) 1905-1953, 1920-12-23
CHARTER OF THE STANDARD HOUS-
ING a INVESTMENT ASSOCIA-
TION INCORPORATED.

leans lie il known, That on TINS 10Th
day of the month of October, in the year
and twenty and of the Independence of
the United States of America, the on
hundred and f0rty-hfth, before me. Sol
Weiss a Notary Public. duly commissioned
and uualihcd in and for the above City,
Parish and St'r,e. therein residing. and
in the presence of the witnesses herein
after named and undersigned. personally
came and appeared the several persons
whose names are hcreuutO subscribed. Who
declared that they are of iull age or ma
iority and aVailing themselves Of the law :
of the state of Louisiana, relative TO the
organization of corporations, in such cGS"S
made and provided, they constitute them
selves, their associates, successors. anu as
signs. a corporation under the supulatlons
herein set forth, winch they duopl Is lH'4I
charter tO-wit:
ARTICLE 1.-The name of this corpora
tion Shall be The Standard Housing ~
Investment Association. Incorporated.
ARTICLE 1.-THE objects and purposes
Of this corporation are hereby declared
to Ice:
TO buy, own. build. sell. exchange. leaSr.
mortgage hypOthccate, improve, or other
for the purpose of owning or erecting
thrrcupOn, and leasing, selling, or other
wise diSpoSins of, apartment bulidlh-N
apartments. HATS. duplcAts, Itslu'u'l"l anu
Also TO buy. sell handle and deal in
lumber and building materials, either LOT
the use of this corporation III connection
with its business. or IN purely m'r
rautiI. manner and for its own account .
to contract for the purchase and sale "i
pIumbiug electrical and any other sup
plies appliances or apparatus cohhrII'd
with the building trades. and TO install or
contract for the installation of same, either
in its own properties or IN properties
other than its own; to handle sales anu
leases of real estate, improved or unlm-
proved. and TO act as agent with refer,
rure thercunto: and to place, As principal
or aS agent, policies of Insurance. OF every
character or description. related Z" tn'
purposes of this corporation. nut lucIui
ing only such as relates TO property hulld-
ing construction and the like:
And generally 10 do any and all things
deemed necessary and advisable IN CON
nection with the purposes above stated
and deemed essential to their enectual 'N-
ecution and also to do and perform any
and all things related or germane to the
Oh ipctS and purposes Just expressed.
ARTICLE IIi.-This corporation shall
have and enjoy all powers and privileges
granted corporations under the laws OF
Louisiana.
corporation is hereby fixed at one hundred
thousand dollars (Sl0OUo0.OOl, divided into
one thousand shares Of a par value of one
hundred dollars $4,000 per share. All
of said stock shall be common stock.
The capital stock of this corporation
may he Increased to two hundred thous-
and dollars (S2OO,OOOOD. divided into Two
thousand SHARES
hundred dollars (SlOOOOl per share. This
corporation may do business when seventy
five thousand dollars tSI5,OO.Oob OF ~
capital stock (Seven hundred and hfty
shares) shall have been subscribed and
The capital stock of this corporation
NAV be increased to the extent provided
above or any part thereof. by issuance OF
either common or preferred stock, in such
proportions as may be decided by this
corporation under the provisions of this
charter and according TO law.
ARTICLE N.-The domicile OF this cor
poration shall be in the city OF New Or
ARTICLE yI.-This corporation shall
exist and have succession for period OF
ninety nine years.
ARTICLE VII.-Service Of process shall
be made upon the President of this cor
poration and in his absence, upon any
other officer, and otherwise according TO
law.
ARTICLE VIII.DThe affairs of this cor
poratiOn shall be administered by Board
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 un-
til their successors shall have been elected
and qualified. Vacancies on the Board
shall be Immediately filled at special
meeting of stockholders held after fifteen
days written notice. Officers shall be
elected annually by. the Board from among
their election. The officers shall consist
of President, Nice-President, Treasurer
and Secretary.
ARTICLE IX.-The President Of this
corporation shall have authority, without
further authorization or resolution. to sign
on behalf of this corporation; all notes.
checks, drafts, contracts, bids, acceptances
OF bids, acceptanees of contracts, leases.
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-ether 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-
complshment 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; NJ Geo. DeLucas.
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 it is declared that all SUE
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-
ices actually rendered to it. Any prop
erty transferred to this corporation in con
sideration for it's stock is inyentoried and
appraised on the exhibit attached hereto,
according to law.
ARTICLE XIII.-No share of stock in
this corporation shall be sold until Il
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
not be bound by any transfer unless en-
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 special meeting of stock
holders held after fifteen l55 days cali
and on vote of three-fourths (3-4) of the
outstanding stock
ARTICLE XV.-This corporation shall
be liquidated or dissolved in accordance
with existing laws.