The herald., 1921-05-12
CHARTER.

tho Parish of Orleans, State of Louis
lana duly commissioned and quallhed, ana
therein residing; and in the presence OF
the witnesses herein named and sub
scribed personally came and appeared the
several persons herein subscribed, all OF
the age of majority, who declared mat
they desired to avail themselves OF the laws
of this State i'll such cases MADE ana pro
yided, and that they do hereby constitute
themselves their associates and success
sors a corporation under the articles ana
stipulations following which they hereby
adopt as their charter, to-wit:
ARTICLE 1.-The name and title OF
this corporation shall be Clermont Harbor
Land Co, Inc, and by its corporate name
the said corporation shall have ana en-
joy all rights, powers and privileges
granted by law to corporations. including
the power to have and enjoy succession
for the full term and period OF nlnety-nlne
(99) years from the date hereof; 10 con-
tract sue and be sued to make and use
a corporate seal and the same TO break or
alter at pleasure; to hold, receive, pur-
chase. lease, sell and convey, as well as
mortgage, hypothecate and pledge, under
its corporate name, any property real. per
sonaI land mixed. to name and appoint
such managers, officers, and agents ana
employees. as the interest and convenience
of said corporation may require; to make
and establish such bylaws, rules for the
management and regulations of the az
fairs of said corporation as may be deemed
necessary or proper, and the same TO alter
or change at pleasure
ARTICLE 1.-THE domicile of the said
corporation shall be at New Orleans, In
the Parish of Orleans, State of Louisiana.
and all citation and other legal process
shall be served on its president, ana IN
case of his absence or disability, on It's
secretary-treasurer, and service of process
may generally be made in the manner pro-
vided by law.
ARTICLE III-Tne objects and pur-
poses for which the corporation Is or
ganiZed and the nature of the business
TO be carried on by it are hereby declared
to be:
To hold, own. purchase, or otherwise &C
duire and to sell or otherwise dispose or,
real estate in this city and state, and i'll
the State of Mississippi, or elsewhere; TO
build houses or other buildings thereon,
and to sell. lease. or otherwise dispose OF
the same; to develop the said property
and TO make such Improvements thereon
as may be deemed advisable; to operate
hotels or other property in connection
with said property so acquired, ana gen
orally to do all things in connection with
the handling, development, and disposal
of the real estate and other property by 1t
so acquired; and to do any and all things
necessary in connection with and lnciden-
tai to the foregoing objects and purposes;
ARTICLE IV-The authorized capital
stock of this corporation is hereby fixed
AT the sum of twenty thousand lS2O,UOOOOl
dollars, divided into two hundred (2OO)
shares of the par value of $4,000 per share,
winch STOCK may De lssutu loi
cash or for property acquired by this cor
poration; and the Board Of Directors of
this corporation is hereby vested with full
power and authority to pass upon the
value of said property and services rem
dered to the company.
This corporation shall be going bust
ness when fifty (5O) per cent of the capt.
tai stock has been subscribed: The CAPT
tai stock shall be paid for in the man.
ner above provided as and when the Board
of Directors shall deem proper.
The capital stock may be increased to
fifty thousand (S50.OO00O) dollars.
ARTICLE V.-The business and affairs
of this corporation shall be managed by a
Board of Directors, selected from the
stockholders of the corporation, of not
less than three or more than seven persons,
as determined by the stockholders from
time to time. Should the stockholders
elect less than seven. the Board of Di-
rectors may at any time elect additional
directors up to the full number. All va
cancies in the Board of Directors from
whatever cause arising, shall be filled by
the remaining directors and any director
may authorize any other director or stock
holder to act as his proxy and represent
him at any meeting of the Board of Di-
rectors.
The officers of the corporation shall be
A president, a yice-president a secretary
| Treasure who shall be elected by the
| Board of Directors, Immediately, or as sooI
as possible after their own election.