The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-20
CHARTER,
CHARTER OF MODERN HOMES. IN
CORPORATED.

CORPORATED.
United States Of America. State Of Louis
lana, Parish of Orleans, City Of New Or
leans. BE it known, That on this seven
teenth day OF June. in the year OF our
Lord. one Thousand. nine hundred and
twenty two and of the Independence Of
the United States Of America. the one
hundred and forty-sixth. before me.
Stanley McDermOtt. a notary public. IN
and for the Parish Of Orleans. state Of
Louisiana. duly commissioned and quail
fed and in the presence Of the witnesses
hereinafter named and undersigned. per-
SOnally came and appeared. the persons
whose names are herpuntO subscribed. all
above the full age of majority, who de
clarpd that availing themselves or the
laws OF the State Of Louisiana. partl'u-
larry Act 26T 0f 1914, relative TO the or
ganizatiOn Of corporations. they do. by
these presents. agree and bind themselves.
as well a. such other persons a may mere
after become associated with them. 10
form and constitute a corporation Tor tht
objects and purposes and under the ar
tiCes and stipulatiOnS following, tO-N!l.
ARTICLE The name and title Il this
corporatiou shall be Modern Homes. IN
corporated. and. under that name. II shall
have and enjoy all the rights. adNaht1-t9
and privileges granted by law 20 'orp"La
tons and shall exist for the tuIl term
and period of ninety nine years from dalr
hereof. IL shall have power ana auth"rllS
to contract. sue and be sued: 10 maze anu
uSp A corporate seal and IN" same 10 hti't
o. br.,E AZ Measure. 70 hold. receive
lease purchase. sell and convey, as wen a
to mortgage. hypothecate ana pled-" pro,
perty. real. personal and mixed. c"IpoIr.tl
and incororeal. % have and appoint su'h
managers directors. officers. agents ana
other employees a. is interests anu con
venience may require. ana 70 tuahr hIH
establish. a. well a. alter ana ahlrIu,
frorn time 70 time such bylaws. rules
and regulations a. may BE- necessary ana
eNpedient for the proper manaStWeht anu
government Of the affairs Of said corpora
ton.
ARTICLE 1.-THE domicile Of this cor
poration shall he in the City Of New Or
loans state Of Louisiana. and all cita,
tious or other legal process shall be served
upon its president. or, in MS absence
upon its secretary treasurer
ARTICLE III-The objects and Pur-
,osss for which this corporation Is or
,anizad and the nature Of the business 10
b.. carried on by il are hereby declared 20
be. To rent. deal in. purchase. acquire
hold. own. sell or otherwise dispose OF;
mortgage and hypothecate lands ana re.i'
property OF every kind and class; TO SUP
divide develop. manage and improve tne
same: to construct erect. alter ana repair
houses and buildings. and TO buy ana sci
all kinds OF materials used by builders
and generally % do general real tsta-e
business in all its details for itself. or a
agent for others, with full power 70 issue
bonds. dpbeuturtS. notes or hlutE 'oit-a
tionS Of the company, from time - time
for any of the objects or purposes OF lue
company. and TO secure the same by mort
gage pledge deed of trust or otherwise,
and to loan and invest money. secured OF
unsecured 10 purchase. hold and Reissue
the shares Of its capital stock IN th- man
ner and to the extent permitted OS tHe
laws Of the state OF Louisiana, ahg ~
general TO do anything necessary Incl
dental or connected with the SAID OBJECTS
and purposes. as well as TO exercise an
rights and powers conferred on corpora-
tiOns by Act 26I OF 1914.
ARTICLE IV-The capital stock Of this
corporation is hereby hAed az one li'l ir,n
and represented by forty thousand. Ntu,-
OOOl shares Of the par value OF t"shty
nve dollars. (S25.0O), each 10 be pald lor
in cash at such time and manner as may
he determined by the board OF directors,
or which may be issued at not less thah
par value for services rendered or tof
property or rights received by or asslsheu
TO the cOrooration-
This corporation shall become going
concern and shall be authorized 20 COM
mence business as soon as fifty. (5O). per
cent of its capital stock shall have been
subscribed. and fifty. (JO) per cent OF
all stock subscribed for shall IN tact nav
been paid for. either in cash by services
rendered or by property or rights received
by or assigned to the corporation.
The capital stock of this corporation
may be increased TO sum not exceeding
two million dollars, tS2OOOOOOOOl.
ARTICLE V-An the corporate powers
Of this corporation shall be exercised by
a board of directors Of not less than three
nor more than eleven stockholders, ma
iority of whom shall constitute quorum
for the transaction Of business The Oh
rectors may vote in person or by writ
ten proxy in favor or another DIRECTOR.
The board Of directors shall elect anhually
frsm among their number a president,
rot a -
The first board of directors shall con-
sist of Edward J. TOnguis, John K. Reese
and Henry B. Reese. whose present ad-
dresses are set opposite their Respective
names to the subscription to the capltai
stock of the corporation, with the sald
Edward j. Tonguis as president, henry
II. Reese, as vice-president. and john X
Reese as secretary-treasurer. These d.
rectors shall serve until their successors
have been duly elected and qualitled.
The annual meeting of the stockholders
for the election of directors shall be held
on the second Thursday Of June in each
year, unless said day be legal holiday.
then on the next bank day thereafter
Any vacancy occurring among the direc-
tors by death, resignation or otherwise.
shall be filled by election for the unex-
pired term by the remaining directors
Each subscriber hereto sets after his
name. his post office address and a state
ment OF the number of shares of stock in
the corporation which he agrees TO take.
At all elections every stakeholder shall
be entitled TO one vote for each share of
stock outstanding in his name on the
books Of the corporation to be cast in per-
son or by written proxy. majority OF
votes cast shall elect.
ARTICLE Win the event of the liqui-
dation or dissolution of this corporation.
the stockholders shall elect three liQuida-
tors from among their number. at a meet
ing convened for that purpose after fif-
teen, Q5), days written notice sent TO
each stakeholder, by mail. to his last
known address; said huquidators shall
have the authority to wind up the bust
ness and affairs OF this corporation. In
case of the death Of a liquidator. the sur