The herald. [volume] (New Orleans, La.) 1905-1953, 1922-03-09
AMENDMENT TO CHARTER OF SIXTH
DISTRICT BUILDING AND LOAN
ASSOCIATION


AMENDMENT TO CHARTER OF SIXTH
DISTRICT BUILDING AND LOAN
ASSOCIATION.
United States of America, State of Louis
iana Parish of Orleans. BE it known
that on this thirtieth day of the month of
| January in the year of our Lord, one
thousand. nine hundred and twenty-five
Q922). Before me, Louis Richard Alba. a
rotary public, duly commissioned and
qualified in and for the Parish of Or
leans and in the presence of the witnesses
hereinafter named and undersigned, per-
sonally came and appeared, John +. King,
of this city and of the lawful age of ma
jority, the President OF and herein repre-
] senting the sixth District Building and
Loan Association. corporation domi-
ciliated in this city, created by an act
before John t. Michel. notary public,
dated September Goth. 1894, recorded in
the Mortgage Office of this Parish in Book
5l6, folio 29s and amended by act before
Andrew II. Wilson, notary public, dated
the 18th of May, 1896, recorded in the
Mortgage Office of this Parish in Book $50
folio 362 and by act before G. G: kro-
| February, 1898, recorded in the Mortgage
Office of this Parish in Book 800. folio
40, and by act before G. G. Kronenberger,
notary public, on April Ind. 1907, record
ed in the Mortgage Office of this Parish
in Book S77, folio $50, and by act before
James Boyd Grinage, notary public, on
February 10th, 1913, recorded in the Mort
gage Office of this Parish in Book 10SS,
folio 81. and by act before Louis II. Alba,
notary public, on the 18th of March. 1915,
recorded in the Mortgage Office of this
Parish in Book 1895, folio 1855.
Who declared, that by virtue of and
pursuant to the provisions of Article IN
of the above act of Incorporation, and pur-
| suant to a resolution adopted by the stock
holders of said association at a general
meeting called for that purpose and held
Ia A.. It'll H.. n-1z Tnt.
uary 23rd. 1922. the whole agreeably to
said Article TX of the charter, authoriZ-
ing and directing him to carry out the OBJ
ject of said resolution which provides for
the amendment to Section one, two, six,
and fifteen of Article Nv of the charter
and Sections one and two of Article v
of the charter and Article VII of the char
ter and Article IX of the charter of said
association, all of which is more fully
shown by a duly certified copy of said
resolution hereto annexed.
He does. by these presents In his said
capacity for and in behalf Of the Sixth
District Building and Loan Association
pursuant to said resolution declare Sec
lions one, two, six, ten and fifteen o.
Article Nv of the charter and sections on,
and two of Article v Of the charter anC
Article VII of the charter and Article ~
of the charter to be amended in the man
ner and to read as follows. to-wit:
ARTICLE w
L.
corporation shall be five million dollars
($5 600 OOO. OO) and shall hereafter be ISSUED
in shares of one hundred dollars, $4,000
each; provided that the outstanding shares
of two hundred dollars each shall not b.
affected hereby.
Section 2. The shares of this corpora
ton may be of two kinds, Running
Shares and paid Up Shares: run
ming Shares" shall be paid for in month
ly or weekly installments at the rate o.
| q Q mn
each. Additional payments may be made
at any time or in any amount at tn,
option Of the shareholder. paid Up
Shares" shall be paid for in full at tn,
shall not be entitled to dividends. bu
shall be guaranteed not more than 81,
per cent interest per annum from 1t,
date. in the discretion Of the board o.
! ton shall have the right to call in said
stock and redeem same for the face value
thereof, after not more than three months
notice to said stockholders, and sucf
stockholders shall have the right to hav,
their stock redeemed in a similar manner
after not more than three months notice
In the discretion Of the board of directors
subject, however. to the provisions fol-
withdrawal Of running shares as con
tanned in Section 10 Of this article.
Section 8. Payments on Running
Shares, installments and interest shall
be due and payable in monthly or weekly
installments at the office of the associa
ton. and all payments shall be imputed
tD To settlement of interest due, (2) fol
reimbursement of moneys paid for &C
count Of shareholder. (3) to installmenti
on shares; provided that the order of i'm
putation may be changed at the discretion
of the board of directors.
Section 10. Holders of running share,
not being In arrears may withdraw from
this association by giving to the president
thereof one months notice in writing o.
"a ~ 4 I-o.x
stockholder shall. on the surrender o.
his certificate. be refunded all dues pait
by him out of the first inappropriate
moneys in the treasury; provided, eacf
written notice Of withdrawal, given al
aforesaid, shall be registered by the sec
retary-treasurer, and numbered from
, up. and the Withdrawing stockholder
paid in rotation as aforesaid; provided
receipts shall ever be used for the purpos,
of liquidating withdrawn shares, unless
there should be an over-accumulation o
funds which cannot be loaned In the usua
manner upon real estate.
Section Is. The dividends declared OF
Running Stock" shall be credited on thu
pass books of the members annually, ant
. the interest on paid Up Stock" shall b,
paid In dividend checks on or after tn
First of January and july Of each year
ARTICLE
Section 1. The corporate powers of tn
, | association shall be exercised by a boart
Of directors to consist hereafter of twent!
stockholders. each Of them owning a
least five shares in his own name. VIII,
shall be elected by the stockholders Of
; the fourth Monday in January, Of eacl
and every year. Any stakeholder ceasin,
to own five shares SHALL ipso facto, va
cate his seat on the board.
Section 2. Notice Of said election shall
be given ten days prior to the annua
meeting by publication one time In two o
the daily newspapers Of the City Of New
Orleans, and by written or printed no
tees mailed or delivered personally L
stockholders Of this association by tn
secretary. Said elections shall be by bal
lot, and shall be held at the domicile o
this corporation. under the supervision o
three shareholders appointed by the boar
Of directors at the last preceding regula
meeting thereof. who are not candidate
, for election. The shareholders receiving
, majority Of the votes cast shall be de
: clared elected.
ARTICLE VII.
Special meeting of the shareholders shal
be convened at the request in writing Q
3 one-fourth of the shareholders, stating tn
, time and object of such meeting, or whe
ordered by the board Of directors.
ARTICLE TX.
This charter can be altered. amende
or modified, or this corporation dissolved
, by a vote Of three fourths Of the capits