The herald. [volume] (New Orleans, La.) 1905-1953, 1922-11-02
CHARTER.
,|En OF PELICAN HOMESTEAD
cIA ASSOCIATION.


coates of America, State
Uniteu Parish of Orleans, City OF
LouislauhIaaa BE 1t knon. That on TINS
New VI so,,rth day Of the month OF &c
twenS, a. the year OF our Loru one tnoi
tober' ~ hundred twenty two IlSzzJ,
ssnu ~ the independence OF tnS 80
and Oh America the one hundred ana
states 18th "a before me. Cuthbert >.
forty-sea notary public. duly commits
BaldSiH ond qualified in ana Tor the
sioneI nd state aforesaid therein re-
Parish and in the presence or the Two
sioi,nnsss,gned competent VIZ r.,
under me and appeared the parties
sonalg Ines are hereuntO subscribed
whose Ia and declared that, aValllng
VINO s"i,,es of the provisions OF the laws
thenlsy State. and particularly Act l5O
OF thi regislature of this State Tor the
Of 1902. and all Jaws am. i'la ~,
year and of the same sub1ect-malter;
thereon az coyenanted and agreed, and
they ha presents do covenant and
BY tnand bind themselves and those
agree az hereafter become associated
vho them in order to form ana con
s,tute a corporation OF ora OT n,rp pSeas and
,,Ser the stpuiatAoHS anu
ssaIiowing-to-wit'
.pTICLE 1.-The name and style OF
Ahl-noration shall be the PELICAN
tnis,ITVSTEAD ASSOCIATION. and I'M
Hoa,s corporate name 1t shall have the
oel ~ and authority to contract sue
"a be sued; TO MAKE, nav anu ,"a,s
anuara,e seal and the same 10 break
eorp snd amend at pleasure, TO name
alter noint such managers, directors
snd appt as the interest and conve-
anu of the corporation may re-
nleno' To make and establish ana
euu,snd such bylaws rules anu Tee
ame sinns for the proper manage
uiauon, I'd regulation Of its affairs as
men' necessary and proper to carry
NAY ~ objects and purposes or salh
out ,ration: To hold. receive, lease
coIPSase and convey. mortgage ana
ppiaSge. under its corporate name PIopd
pleue 10Th real and personal; TO lend
cry, on securities: and said corpora
nome Jass sooner dissolved. in accord
uon, .ri,h this charter. shall exist ana
anc. .,,ra for and during a period OF
cornss,,,snine years from and after date
hereof .n,.
A.n-ation shall be in the City of New
eo,p ons parish Of Orleans, State or
Vlss'sna and all citations and other
LDu .i nrocess shall be served upon the
rees.s,aent and in his absence or inabll
~ ~ 20 act. upon the Vice-President, ana
,he absence or inability or both OF
these officers, to act on the secretary
" ,pTTCIE III-Th- objects and pur-
~ for which this corporation is
se,nsd and the nature OF the business
~ he carried on by IL. is stated ana de-
TuI,.sd ~ he: To provide for the accn-
.aist,on of a fund from payments made
account of the subscriptions to
ooa,,taI stock and from rentals. bonuses.
,-.a,ss, on loans and other sources.
hich fund so accumulated snail ne
"a Cor the purpose of assisting the
msmhers Of said corporation IN pur,
nd tt1nnTnUinU
.at,ing real estate and homes situated
4. the CITY of New Orleans and the
p.r;shes Of jefferson and st. Bernard
.nd removing encumbrances therefrom:
and also for the purpose or lendlns
money on shares. or otherwise, 10 lts
rsmbers: and to the above ends II shall
" lawful for said corporation to pur-
shsse from any shareholder, or any
o,hsr nerson any real estate, improved
an unlmproved. and TO sell or dispose
Al the same. in the same condition or
after Improving. repairing or building
IN the same to any member or other
,s,son. and generally to make all con-
tracts and TO do all acts requisite or
necessary or proper in order to carry
out the objects and purposes of this
corporation which is that of Home
stead Association. all of which acts and
things this Association NAV do as II
specifically Incorporated in this charter.
ARTICLE Iv.-The capital stock of
mis- Association shall he five million
rs. 900 900 OOl dollars divided into and
represented by fifty thousand t5O.OOOl
shares Of the par value OF one hundred
1900 o0) dollars each. Said stock shall
be divided into two classes. to he known
as current OF installment stock and full
raid withdrawal stock. Current or in
tallment stock shall he paid for in ac-
cordance with the Bylaws of this As
ISOLATION and the laws of this State. but
At the rate Of AT least twenty-five cents
per share per week. Full paid with
drawable stock shall be paid for in full
al the date of its issue.
This Association snail be going
concern and shall have the right to
commence business when and after one
hundred thousand dollars of its capital
stock shall have been subscribed for
and at least ten per cent thereof shall
have been paid for in cash.
ARTICLE v-The corporate powers
n this corporation shall be exercised
BY a Board of Directors. consisting of
not less than thirteen (13) nor more
than twenty-five (25) shareholders.
each Of whom shall own at least one
share Of full paid stock, which Board of
Directors shall be elected by the share
holdrs annually on the third Tuesday
Of January of each wear. commencing
With the year 1927. after due notice, as
provided for in the Bylaws, and the
Number Of directors to be elected shall
Be specified by the Board of Directors
At its meeting next preceding the an
nual meeting of shareholders. Said
election shall be by ballot and shall be
heid at the domicile of the Association
under the supervision of three share
holders 10 be appointed by the Board
Of Directors at its last preceding meet
mg' and said commissioners shall not
Ne candidates for election on the board.
The shareholders receiving the highest
number OF votes cast shall be declared
slscted Failure to hold an election at
me tine specified shall not dissolve the
eereoration. but the directors and
.ineers shall hold office until an cleo
ucn shall be held.
Any director ceasing tn own one
snare Of full paid stock shall ipso facto
,seate his seat and such vacancy shall
niled by the remaining members OF
me board The directors shall elect
ron their number on the third Tues
@s OF January of each year. beginning
-ln the year 1923. a President one or
more Vice-Presidents and a Secretary
sna treasurer; and shall also elect an
ssstesrney and notary public. The offices
w secretary and Treasurer may he con-
S snaated IN one person. to be called the
Sretary-Treasurer
tne board shall also have such other
I..ers as may be set forth in the By-
~s or which may be necessary to
rir, ont the OBJECTS and purposes 81
u,s Association.
rive directors shall constitute a
s'.rum NJ all meetings of the board.
Al, AlnilCLE VI.-The following persons
,.s aI constitute the first Board of Di-
- -''IS TO serve until their successors
elected. viz: Gus. r. Baldwin, NJ.
W. pecnei Gus. Blancand c. F. Fores-
rruJoseph Haspel Leon d. Hubert, !.
rsny,u Hodge. Ernest w. Jones, Max n.
r. Rennyson. ]. Y. Sanders, |
W.. smith. Jules ]. Viosca, Rene A.
"osca. W L. Ward.
shsr me above named. Leon d. Hubert
A. oe PRESIDENT. Gus Blancand shall !
a. rree-fresident and Michel A Becnel