The herald., 1922-07-06
CHARTER.
all appoint a stakeholder as sue.

vivors shall appoint stakeholder as sue
| cessOr to him.
ARTICLE vII-This charter may b
modified. changed or alterii, Or sale
corporation may be dissolved. with tn
assent of the stockholders owning two
| thirds OF the entire capital stock. at
| general meeting Of the stockholders con
yened for that purpose. after fifteen 90
days written notice shall have been giyeI
to each stakeholder. mailed to him at hi
last known address.
| ARTICLE yIII-The shares of stool
| shall be transferable only on the book
Of the corporation and no transfer o
stock shall be binding or have any effec
upon the corporation unless and unit
made upon its books.
| No subscriber for stock shall ever b.
| held liable for the contracts, faults ol
debts of said corporation in any further
sum than the unpaid balance: II any. du,
| the corporation on the stock for which
| he has subscribed: nor shall any stock
holder ever be held liable for such con.
tracts. faults or debts in any further sun
than the unpaid balance. IL any. on tbs
stock owned by him; nor shall any mere
informally in organization have the ef
feet of rendering this charter null. Or
rendering any subscriber liable beyond
he unpaid amount, IL any, remaining on
his stock.
No stakeholder in this corporation shall
have the right to sell the stock of this cor
pOration owned by him without first Of
fering the same, in writing through the
board of directors, to the other stock
holders at its book value at the close of
the last fiscal year. and the stockholders
shall have the right within fifteen. 40.
days after the offer to sell has been re-
ceived by the board OF directors to pur-
chase the stock so offered. Should the
stockholders not desire to purchase the
stock offered for sale, the corporation may
purchase the same for cash. and any stock
thus acquired and any stock of the cor
poratIOn which IL may buy or 9th arwiSe
acquire may be held, re-iSsued or sold by
the board Of directors at such price as the
board of directors, in its discretion, may
determine proper.
ARTICLE IX-This corporation is or
ganiZed under the laws OF the State OF
Louisiana. and especially Act 267 of 1914
and the subscribers hereto, for them
selves and for said corporation and for
its officers, directors and stockholders.
hereby accept, as part OF this charter.
and as conditions Of this corporation. all
the rights, powers, privileges and i'm
munitieS granted to corporations. and
granted to and conferred upon officers,
directors and stockholders Of corporations
by said laws and said act: such accept
ance being as full. complete and binding
as II said rights, powers, privileges and
immunities were set forth at length in
this instrument
Thus done and passed in my office in
the City of New Orleans. aforesaid in
the presence of Leah Simerick and Joseph
+. Gcgarty, competent witnesses of lawful
age and residing in this city, who here
unto subscribe their names, together with
the said appearers and me. notary, on the
day and date set forth in the caption
hereof, after due reading of the whole.
Witnesses: Joseph F. Gogarty. Leah
Simerick.
ORIGINAL SIGNED:
Edward J. TOnguis. 1926 Coliseum
Street. l share; Henry Il. Reese 344
Lowerline Street. l share: John b. Reese.
~ LOwreline Street, l share.
STANLEY McDERMOTT.
tSeaD: Notary Public
l hereby certify that the above and fore
going is a true and correct copy Of the
Act of Incorporation of the Modern
Homes. Incorporated. passed before me
IN the 18th day of June. 1922 and which !
5 now on file and of record in my no
arial office.
STANLEY McDERMOTT,
(SeaD: Notary Public. |
l. the undersigned. Recorder Of Mort
'ages. in and for the Parish of Orleans, |
'tate Of Louisiana, do hereby certify that |
he above and foregoing Act Of IncorpOra-
ion of the Modern Homes. Incorporated
vas duly recorded this day in my office
n Book -. folio -.
New Orleans, La, June =. 1922.
tSigned): ROBT. SCOTT,
Deputy Recorder.
n TnIt