The herald., 1922-07-06
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 ii known, That on this seven
teenth day Of June. in the year Of our
Lord. one thousand, nine hundred and
twenty-five, and of the Independence OF
the United States of America. the one
hundred and fOrty-stxth, before me
Stanley McDermOtt, a notary public, in
and for the Parish Of Orleans. State OF
Louisiana, duly commissioned and quail.
ned, and in the presence of the witnesses
hereinafter named and undersigned, per
sonally came and appeared, the persons
whose names are hereuntO subscribed, all
above the full age of majority, who de-
clared, that ayailing themselves of the
larly Act 267 of 1914, relative to the or
ganizatiOn Of corporations, they do. by
these presents, agree and bind them selves.
well such other persons as may here
after become associated with them, TO
form and constitute a corporation for the
objects and purposes and under the ar
tcles and stipulations following. tO-wit
ARTICLE THE name and title Of this
corporation shall be Modern Homes, In
cOrpOrated, and, under that name. il shall
have and enjoy all the rights, advantages
and privileges granted by law to corpora
tions, and shall exist for the full term
and period of ninety nine years from date
hereof. 1t shall have power and authority
TO contract. sue and be sued to make and
use corporate seal and the same to alter
or break at pleasure; to hold, receive,
lease purchase, sell and convey. as well as
to mortgage, hypOthecate and pledge pro-
perty. real. personal and mixed. corporal
and incOrOreal; to have and appoint such
managers, directors, officers, agents and
other employees as It's interests and con,
yenience may require, and to make and
establish well alter and amend.
from time to time such bylaws, rules
and regulations as may be necessary and
eNpedient for the proper management and
government of the affairs of said corpora
ton
ARTICLE 1.-THE dOmicile of this cor
pOratiOn shall be in the City Of New Or
leans, State of Louisiana, and all eta
tons or other legal process shall be served
upon its president, or, in his absence.
upon its seCretary-treasurer.
ARTICLE III-The objects and pur-
poses for which this corporation is or
ganiZed and the nature Of the business to
be carried on by il are hereby declared to
be: To rent, deal in. purchase. acquire.
mortgage and hypothecate lands and real
property of every kind and class; TO sub
divide, develop, manage and improve the
same; to construct. erect. alter and repair
houses and buildings, and to buy and sell
all kinds of materials used by builders |
and generally to do a general real estate |
business in all its details for itself, or as |
agent for others. with full power to issue |
bonds. debentures, notes or other Obliga- |
tiOns Of the company, from time to time |
for any of the objects or purposes of the |
company, and to secure the same by mort |
gage pledge deed of trust or otherwise |
and to loan and invest money, secured or /
unsecured; to purchase, hold and Reissue |
the shares Of its capital stock in the man
ner and to the extent permitted by the
laws of the State of Louisiana, and in |
general, to do anything necessary. incl |
dental or connected with the said objects
and purposes, as well as to exercise all
rights and powers conferred on corpora
tions by Act 261 of 1914.
ARTICLE Iv-The capital stock Of this
corporation Is hereby fixed at one million
dollars. $1,000 OOO00). to be divided into
and represented by forty thousand. (40,-
0OO). shares Of the par value of twenty
FIVE dollars, $4,000, each to be paid for
in cash at such time and manner as may
be determined by the board of directors,
or which may be issued at not less than
par value for services rendered or for
property or rights received by or assigned
to the corporation.
This corporation shall become going
concern and shall be authorized 10 COM
mence business as soon as fifty. (50), per
cent OF its capital stock shall have been
subscribed, and fifty, (50) per cent of
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, (S2 0O00.00).
ARTICLE V-All the corporate powers
of this corporation shall be exercised by {
q board Of directors of not less than three
nor more than eleven stockholders, ma {
jority of whom shall constitute a quorum {
for the transaction of business. The di- !
rectOrs may vote in person or by writ !
ten proxy in favor Of another director. {
The board Of directors shall elect annually !
from among their number president.
" a. nd GnRr n " trA0 nrAr
The first board of directors shall con-
sist of Edward ]. Tonguis, John r. Reese :
and Henry Il. Reese whose present ad ,
dresses are set opposite their respective !
stock Of the corporation, with the said !
Edward j. Tonguis as president Henry !
II. Reese, as vice-president. and John X. :
Reese as secretary treasurer. These di-
rectors shall serve until their successors
have been duly elected and qualified.
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 a legal holiday. /
Any vacancy occurring among the direc- 1
tors by death, resignation or otherwise. c
shall be filed by election for the unex- I
pired term by the remaining directors. 8
Each subscriber hereto sets after his I
name, his post office address and state 8
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 J
books of the corporation to be cast in per- :
son or by written proxy. A majority of :
votes cast shall elect.
ARTICLE Win the event Of the lidui- :
dation or dissolution Of this corporation, /
the stockholders shall elect three liquida-
tors from among their number at n meet =
ing convened for that purpose. after fiji :
teen, Q5), days written notice sent to =
each stakeholder, by mail, to his last :
known address,; said liuquidators shall =
have the authority to wind up the bust s
ness and affairs of this corporation. In
case Of the death Of liquidator. the sur