The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-16
CHARTER.

shares of stock of this association. may
be made to members up TO the amount
actually paid by them on said shares, ana
no other loan shall be made by TINS as
ISOLATION except after full report and IN
yestigation, and on a basis or seventy
five per cent (75%) of the actual cash
current market value thereof. and pledge
of the security to the said ASSOCIATION
provided that this association may az any
time have the right to call for additional
security on any loan made to any Of Its
member stockholders.
All other rules and regulations affecting
the operation of this homestead assOcla-
ton or of the loans to its members, shall
be enacted in the bylaws to be provided
for and adopted.
Every officer and employee of this as
SociatiOn who shall handle any of the
moneys thereof shall be bonded with
surety company to an amount which shall
be equal to the estimated amount of
moneys belonging to this association and
coming into his hands during three
months period. provided that this assocla-
ton shall have a review of its books made
every three months by some competent
public accountant and the result of the
examination submitted to the board of di.
rectOrs.
ARTICLE V-AlI the powers of this
corporation shall be exercised by n board
of directors composed of twenty stock
holders owning each at least twenty (2O)
shares of stock of the association; said
directors to be elected Mt a general meet
ing convened for that purpose on the
second Monday of January. 1923. and each
succeeding year. Notice of such meeting
shall be published in one of the daily
newspapers of this city for the space of
ten days Immediately preceding said
election. Said election shall be by ballot
at the domicile of this corporation under
the supervision of three commissioner
stockholders appointed by the board of di-
rcctOrs at the last preceding meeting.
.la 81. IL hall l.NN 20
one vote and the stockholders receiving
the majority of the votes shall be elected.
Failure to hold an election on the date
specified shall not dissolve this corpora
ton, but the directors in office shall hold
power until their successors are elected
and qualified. The directors shall elect
from their number president, three
vice-presidents and a treasurer, an at
tOrney and notary; five directors shall
be quorum for the transaction of bust
ness. All vacancies shall be filled by the
remaining members of said board of di-
rectors. The directors shall elect and ap-
point secretary, and such other EN-
ployeeS as may be necessary, and shall
have the right to stipulate their salaries.
! The directors shall have power to make
| bylaws, to select place for and make
the lease or rent offices for the business
! purposes of this association, suspend any
and all officers and have general authority
| to carry out the obligations and business
| of this association.
ARTICLE yI-All applications for mem
bership shall be subject to the approval
| of the board of directors.
| ARTICLE FII-Until the election as
explained in Article V, the officers of this
corporation shall be: Felix =. Vaccaro,
president; Joseph Vaccaro, first vice
president; salvador D'Antoni, third vice
| president; Charles Leftwich, treasurer
! L. Marinoni, attorney, Charles V. Maca-
| luso. notary; and the following shall con
l.. n. INaI.x
| L. Naccaro, Joseph Vaccaro, Luca Vacca-
no, Salvador D'Antoni, Charles Leftwich,
/ L. MarinOni, Jr., Charles V. MacalusO. Ro-
sariO Graffagnini, Charles Roth, n. j.
Clesi, {, D'Antoni, Jos. Chalona, John Bo-
nura, Albert J. Buja, Arturo Dellorto, q.
3Ossi. Angelo GlOrroso, j. \. Dana, NJ.
| D., Philip FOtO, A. Schiro.
At the first meeting of the said board
of directors they shall select and appoint
| a secretary and such other officers as
shall be necessary, and they shall regu-
late the salary to be paid to the said sec
Rotary and any other officers as shall be
| necessary.
ARTICLE VIII-An transfers of stock
shall be made on the books of the asso-
citation provided the new stakeholder is
| acceptable 10 the board of directors. Any
such member shall sign the charter as an
! original member. No share shall be trans
/ ferred until after the payment of twenty
! five cents (25c) by the transferee for each
| share transferred. Duplicate certif-
Gates may be issued for lost certificates in
such manner as may be provided for in
| the bylaws. No stakeholder shall ever
| be held liable for more than his unpaid
| balance on his stock, nor shall any mere
| informality in organization have the effect
of rendering this charter null or of ex.
| posing stakeholder to any liability be-
| yOnd the amount of his stock.
| ARTICLE IX-This charter can be al
tered. amended or modified. or this cor
! pOration dissolved by a vote of three
o.. nf ha Sal I'd
at a general meeting convened for that
! purpose, after ten days notice published
| in one Of the daily newspapers of this
| city. If at such meeting three-fOurths of
| the capital stock voting and represented
| shall so select to dissolve this corpora
| ton, then the stockholders present or by
| proxy, shall elect three liquidatOrs from
| among the said stockholders who shall
have full charge of the liquidation of this
| association in such manner as provided
in the by laws, and upon giving due Sc
| curity.
ARTICLE Especial meetings of the
| stockholders shall be convened at the re-
quest in writing of ten stockholders, stat
ing the time and object of such meeting.
| All laws in force in the State of Louis
| lana relative to the organization and
| operation of homesteads are made a part
of this charter and the same as if fully
Thus done and passed, in my office at
| New Orleans, La, on the day, month and
year herein first above written, in the
presence of Miss T. Hahn and Inez Bar
| rois. competent witnesses, who hereuntO
sign their names with the said appearers.
and me, notary, after reading of the
| whole
(ORIGINAL SIGNED):
Felix p. Vaccaro, Pres, 1890 st. Charles
Ave, 1850 paid up.
Jos. yaccaro, st. Charles and Robert,
1850 paid up.
Luca vaccaro. I415 Exposition BouIe-
ward, 1850 paid up
s. D'Antonf 1929 Elm St. 1850 paid up.
Chas. Leftwich, 1881 Franklin Ave- .
paid up.
c. D'AntonI. 80 FontainbIeau Drive, so
paid up.
L. Marinonf, Jr., g7r9 Coliseum ST., so
J. A. Danna. VI. d.. II1o Maison Blanche.
80 inst.
Angelo GTorioso, 5s1 ST. Ann St., 100
paid up
John Bonura, 1904 Industry St., 20 Inst
Jos. Chalonar 10 Neweomb Boulevard, 80
paid up.
Arturo DeIIOrto, 40 Decatur St., 80
Inst
G. Rossi. 100 Decatur St., 70 Inst.
L y. J. CIesi. 312 Baronne St., so Inst
A. schiro, 935 Esplanade Ave. 20 Inst.
Charles Roth. 1884 Robert St, 10 paid
r. Graffagnini, POI s. Claiborne Ave. 20
paid up.
Al. ). Buja. 1924 whitney Bank Bldg,
(will pay in fun March 1, 1920.
Phil FotO, 1901 n. Broad ST., 20 paid
c. v. Macaluso. zoos Ursuiine Ave, 20
Witnesses: Miss T. Hahn, Inez Bar
rois.
CHARLES v. MACALUsO.
Notary Public.