The herald., 1922-04-20
CHARTER OF
REALTY DEVELOPMENT Co, INC.

CHARTER OF
REALTY DEVELOPMENT CO., INC.
United States of America, State OF
Louisiana. Parish of Orleans. City OF
New Orleans. BE it known that on the
10th day of the month of March, in the
year of our Lord. one thousand nine hun
drcd and twenty-five, and of the indie
pendence of the United States of America,
the one hundred and forty sixth, before
me. WILLIAM J. GUS1E. a Notary Pub
lie, duly commissioned and qualified. in
and for the above parish and state, there
in residing, and i'll the presence OF the
witnesses hereinafter named and under
signed, personally came and appeared
the several parties whose names are here
unto subscribed, who SeveralIy declared
that availing themselves of the laws of
the State of Louisiana, in such cases
made and provided, and more particu-
larly of Act POI of the General Assembly
Of the State of Louisiana of 1914, and
the acts amcniatOry thrre'4, rclatinG TO
the creation, organization aud formation
Of corporations. they have cOvenanted
and agreed, and by these presents do
hereby covenant. agree and bind them
selves, as well as other persons who
may hereafter become associated with
them, TO form corporation, for the
objects and purposes under the articles
and StipulatiOns following, which they
hereby adopt as their charter. to-wit:
ARTICLE l. The name and title Of
this corporation shall be REALTY De
NELOPMENT CO. INC, and under its
corporate name it shall have power and
authority to have and enjoy corporate
existence for period of ninety mine
years from date hereof, unless sooner
dissolved by liquidation or otherwise; it
shall have power to contract, to sue and
be sued; to make and use a corporate
seal, and to alter and break the same
at pleasure; to hold. receive. lease, pur-
chase, transfer, assign. mortgage, hypoth
Ccatc, pledge or otherwise dispose OF
property, real. personal or mixed, cor
pOreal or incOrpOreal; to issue bonds
and other evidences of Indebtedness, and.
if desired, to secure the same by mort
gage, pledge or otherwise; to buy, hold
and reissue shares of its own capital
stock: to hold stock in other companies;
to name, elect and appoint officers, direc-
tors, managers, agents and employees; TO
make and establish, alter and amend
laws, rules and regulations for its proper
government, as may be deemed necessary
and proper for the extension of the bust
ness in which the corporation is engaged.
ARTICLE III. The domicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans. State of
Louisiana. Citation and all other legal
process shall he served on the President
and, in his absence on the Vice-President,
the Secretary or Treasurer, or the Secre-
tary Treasurer. should these offices be
combined in one person.
ARTICLE Ill. The objects and pur-
poses for which this corporation is estab-
lished and the nature of. the business to
be carried on by it are declared to be
as follows:
To purchase, acquire, hold, own. use.
mortgage, pledge, or otherwise handle or
deal in real and personal property of
any nature whatsoever, together with
the rights, ways and privileges and servi
tudes thereunto appertaining, or in any
wise belonging; to improve or enhance
and improvements of all kinds
to lease. rent. mortgage, pledge, sell,
convey and ALLEVIATE any and all such
property, real or personal; to act as
agent or broker. and generally to con-
duct and carry on such other business
as may be found necessary or convenient
for properly fulfilling the aforesaid pur-
poses or enhancing the value of the
property, rights and privileges of said
ARTICLE ". The capital stock of
this corporation is hereby fixed at the
sum of Three Hundred Thousand Dol
lars (S3OO,OOO.OO), and shall be divided
into and represented by three thousand
shares of the par value of 500 each.
The said stock shall be paid for in
cash or its equivalent, as provided by
law, and in such manner and at such !
times and in such installments as may
be prescribed by the Board of Directors. !
This corporation shall become a going |
and shall be authorized to COM
mence business as soon as fifty 500 per |
cent of its capital stock shall have been |
and fifty 500 per cent OF |
all stock subscribed for shall in fact have |
been paid for, either in cash or its equiv |
alent.
ARTICLE V. The capital stock of this |
corporation may be increased to the sum |
Of Five Hundred Thousand Dollars $780, |
100000, by a vote of two-thirds OF all /
the stock present or represented at a |
special meeting called for that purpose |
Or at regular annual meeting of the |
corporation.
ARTICLE vi. No transfer of stock |
shall be binding upon the corporation |
Unless recorded upon its books. nor shall |
my stakeholder have the right to sell |
any of the shares held by him without |
having first offered the same to the stock
holders of record, in proportion to their |
holdings. through the Board of Direc-
.ors, at the book value of the stock at |
he closing of the last fiscal year; or
he said offer shall be made in writing.
md the stockholders shall have the right.
within period of thirty days after the
bier to sell has been received by the
Board of Directors, to purchase the
shares so offered, for cash, at such value.
Should the shareholders not desire to
purchase the said stock, the corporation
nay purchase the same at that value,
OT anu SuCn tnuS acquired |
" any stock Of the corporation which
{ may buy or otherwise acquire may
,e held, reissued or sold by the Board
II Directors at such price as the Board
II Directors. in its discretion. may de-
ermine proper.
The certificates Of stock shall have
written or stamped upon them a refer
nee to the provisions of this article Of
he charter.
By the consent Of two-thirds Of the
directors, at regular or special meet
ng called for that purpose and without
he necessity for any amendment to the
harter, the necessity for writing or
such inscription upon the stock
certificates may be dispensed with. or
he certificates containing such inscrip-
ion may be called in and new certificates
Without the inscription may be issued
n their stead, and similar change from
ne class of certificates TO the other may
e made from time to time, in the man
er above provided.
ARTICLE VII. The corporate powers
I this corporation shall be vested in
nd exercised by a board of not less than
hree nor more than five directors Should
ess than five be elected at an annual
lection, the stockholders may at any
inc, by a majority vote at a special
leeting. elect such additional director
r directors, not to exceed a total of five ,
irectors. Two directors shall constitute ,
quorum for the transaction of business.
hould there ba three directors: and
Tree directors shall constitute a quorum !
'r the transaction of business, in the !
vent that there be more than three