The herald. [volume] (New Orleans, La.) 1905-1953, 1921-04-28
CHARTER

leans 70 ~ eStabIish Just and equitable
nrincipIes in the building trade inerelH
! after called the trade); 10 MAINTAIN UNI
| formity in rules regulations shu uI'-i
! .f III trade. 10 adopt standards Oh 'IdSSl
tication in the trade; to acquire, PreStr ',,
| and disseminate useful ln1Orhaioh IN
| nacted with the trade; to decrease the
! iocsI risks attendant upon the business
and generally to promote the 'Ia"e III Wy
CITY of New Orleans increase ltS aliIGum'
and augment the iacllllles WAN
it may be conducted
The maintain credit and collection de
partment. -
| To subscribe to, become a member o.
and cooperate with any other person nrIl,
| CORPORATION or association, whose opJ''l'
are altogether, or in part slillllaI " w -
| of this company, and to procure from anu
! communicate to any such person, nInl'
| corDoration or association such lnloIHld
ton as may likely forward the opJecls Vi
the corporation.
ARTICLE IV.-The capital STOCK OF lhiS
corporation is hereby fixed at the sum OF
6yn Thousand (S5.OO000) dollars, DIVIDED
into and represented by one hundred (iVOl
shares of stock of the par value OIL my
$50 OO) dollars. Said stock shall De pald
for in cash, at such time ana IN suCI
amounts and after such notice to the SUD
scribers as may be fixed by the BOARD OF
Directors, or the same may De lSSueI at
| moi loss than par for labor done or prop
erty actually received by the corporation
or for capital stock of other corporations
This corporation shall become a going
concern and be authorized TO do business
soon as nifty per centHm ., s and EpP ftv
| per centum of all stock subscribed pald
for.
The Board of Directors from time 70
fine may fix the price at which shares OF
stock belonging to this corporation sh3ll
less than fifty $4,000 dollars per share
and shall be sighed by the president and
counter signed by the treasurer.
| The amount to which the capital stock
NAV be- increased shall be the sum or i've
hundred thousand ($500,OCOOO) dollars.
ARTICLE V-The directors shall cause
| to be created one or more classes OF menu
bership who shall be required to hold and
possess certificates representing member
ship rights, but the possession OF sald GER
! tificates shall not entitle the holders 10
/ any privileges of the exchange without
, first being duly elected by the Board OF
Directors Said members as elected shall
not necessarily be the owners of any shares
of capital stock of the corporation. The
Board of Directors, subject 10 the hnil-
tationS of this charter, shall have the
right to prescribe the qualifications for
members and to place such restrictions on
and prescribe such privileges and enact
all such rules and regulations as may De
necessary or proper to- govern transactions
| taking place in and under the auspices OF
said Exchange. The Board of Directors
shall have the right to TX dues asses ;,
|
be paid. and provide for the time and
manner of payment and to fix the penalties
for non payments Of such dues; assess,
shall collect from said members such
charges may be agreed upon and dis
tribute the same in such manner and I'M
der such condition, to itself or the MEM
bers entitled to same as may be provided
by its bylaws and regulations There
shall be no appeal from decisions of the
Board of Directors. and they shall be
vested with the sole and exclusive right of
suspension, expulsion or fine for any in
fraction or violation of the rules or regula-
tiOns of the Exchange.
Membership in this corporation, once
acquired. can only be terminated by means
of resignation, duly accepted by the Board
of Directors, by being dropped from the
rolls by the Board of Directors, by failure
to pay any sum due the Exchange or any
, sum arising from Exchange transactions
r upon the date said payment is due, by ex-
/ pulSion or suspension. by the sale of all
+ certificates of membership owned by such
: member. or by death. The Board of Di
rectors shall have the right to provide the
|, means and manner in which membership
h in this corporation shall be acquired, and
: also to provide the manner in which ap-
s plicants for membership shall be elected
: as well as the various classes of member
II ship If more than one class be necessary
, ARTICLE yI.-The ownership of one OF
= more shares of the capital stock of thi'
- corporation shall not confer upon the hold
= er thereof any of the rights or privileges
< of membership, nor shall ii confer upoI
the 9TneF o. the right to o. partielPa1sa N tn q
- of this corporation, but only to participat,
/, in meetings of stockholders called to elec
II directors, TO pass upon the issuance o
:, bonds, the liquidation or dissolution o.
N TINS corporation, or change in this act o.
a incorporation.
d ARTICLE VII-All of the corporate
: powers OF this corporation shall be vested
e in and exercised by a board of not les,
than twenty nor more than thirty
ia one directors, each of whom shall hold il
= his own name at least one % share OF
= tbs capital stock of this corporation. Sale
y Board of Directors shall be elected an
n nually on the last Tuesday in January
- of each year, beginning with 1922. unles,
! such day should fall on a legal holiday
!, and i'll that event, on the next succeedin.
y day which is not legal holiday. All sucf
! elections shall be by ballot at the ofic,
OF three commissioners, to be appointed
by the Board of Directors, and in the alb
). senee of any commissioner the presiden
\ shall have the power to fill the place by
:, appointment. Of all such elections, as wei
h as OF all meetings of stockholders, except
= for the purpose of liquidation or dissolu
= ton, or as otherwise required by law
= thteen days notice shall be given by
!! mailing to each stakeholder who appear,
= as such on the books of this corporation
! at his last designated address, or care Of
:, general delivery at New Orleans if he ha.
not designated an address, a notice stat.
: ing the time and place of the meeting
vote for each share of capital stock stand
q | ing In his name on the books of this cor
: poration, to be cast in person or by proxy
| ana majority of the votes cast shall
= elect. Failure to elect directors on the
!, day above specified shall not dissolve this
= corporation, but the directors then in
o Office shall remain in office until theil
a successors are elected and qualified. Due
a notice of another election shall be con
. tinued to be given until an election is had
ARTICLE yIII.-Immediately after tn,
r signing Of this charter the stakeholder
snail elect from their number a Board OF
n directors, who shall hold Office until the
: election to be held in January, 1922, and
SAID Board of Directors shall meet i'm
medlately after said election and as Otter
thereafter as 1t may be called together
q subsequent boards shall meet on call with
: In one week after each annual election and
thereafter shall hold regular meetings
e monthly on a day to be fixed at said first
meeting Following each annual election, and
special meeting whenever duly called. Al
: It's hrst meeting each board of directors
shall elect from its membership presi.
dent, one or more vice-presidents, who
l. without mineral designation, shall ranl
II In the order in which they are elected, and
z ! an executive committee of seven. As such
Il meeting II shall also appoint a secretary
and treasurer neither of whom need be-
!, either stakeholder or director but may b,
u either stockholder. director or other of
: hcer. The Board Of Directors may, IL II
!, see tit, appoint one person to be secre-
tary ana treasurer and shall from tima tr