The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-02
Y lilltSSfS.
NATHAN II. FEITEL,
ID RAR\EI'T
AMENDMENT TO CHARTER OF THE
EIKEkA HOMESTEAD SOCIETY.

EUREKA HOMESTEAD SOCIETY.
State of Louisiana, Parish OF Orleans
City Of New Orleans. lie ii known that
Oh this the 10th day of January, in the
year of our Lord, 1922, before me. PERCY
). BENEDICT, Notary Public duly
qualified and commissioned i'll and for
1 the parish and state aforesaid, and IN
. the presence of the two undersigned com
pctent witnesses, personally came and
. appeared Joseph W. LennON, ESD and
Robert j. Palfrey, Esq, respectively the
. President and Secretary of the Eureka
] Homestead Society, a legal corporation
of this parish and state, which said APP
bearers declared to me, Notary, and the
undersigned witnesses. that at meet
ing of the stockholders of said Eureka
/ Homestead Society. held the third
day of the month of January, 1922, at
its dUmicile, No. 4Jl Camp street in this
city and after all legal prerequisites had
I person or by proxy, 1860 shares or
the capital stock of the said cOrpOr-
alton, out Of a total of 16,SiS shares,
and by unanimous vote of the stOckhOld
erS present or represented, in accordance
. with the general laws of this state and
/ of the eNiSing charter of the said com
/ pany, Articles III, " and of the said
/ charter were amended and re-enacted so
/ as to read as follows, tO-wit:
ARTICLE III.
The objects and purposes Of said cor
/ pOratiOn shall lie the accumulation of a
fund from the sale of full-paid stock,
] anu from lne mOulnlA instruments Dalu
ON account of subscriptions to the run
ming stock of this society. from rentals
from premiums. and from interest on
loans. The funds accumulated shall
be used for the purchase of real estate.
the building and renting of homesteads,
and the lending of money upon mort
cages in the city of New Orleans and
adjoining parishes, or stock of this
society, provided in the bylaws. No
loans upon other than real estate security
or stock of this society shall be made
without the consent of at least tYO-thirds
of the Board Of Directors.
ARTICLE ".
i. The capital stock of this society
shall be Twelve Million Dollars ISL. OOO.-
OO0.O0), which may be issued in running
and full-paid shares of Fifty Dollars
Twenty-Five Dollars $4,000 each. The
outstanding alphabetical and juvenile
shares, when withdrawn. matured, re-
tired or cancelled, may be issued TO like
shares and children's shares shall be paid
for at the rate of Twenty-Five Cents per
share per month.
>. On shares pledged additional
security for real estate loans, the monthly
interest due on such loans shall be first
deducted from each such payment. and
the difference entered payments on
stock; provided, additional payments
may be made at any time or in any
amount, at the option of the shareholder.
3. Full-paid shares shall be paid for
In full at the date OF their issue. Run
ming shares may be converted into full
paid shares by the holder paying the
difference between the present value and
the face value of such shares, or when
such shares reach their face value; pro-
vided, that certificates of full-paid stock
shall be issued only when authorized by |
and subject to such terms and conditions |
as the Board of Directors may prescribe /
Alphabetical and Juvenile shares shall /
enjoy the same privileges and be sub /
1Rgf no SDn
4. Running shares and children's shares 1
shall be issued in such manner as may /
be provided by the bylaws.
D Minors may subscribe for, hold, |
transfer, withdraw and surrender stock 4
without the authorization of their par
ents, tutors or other persons; and mar |
ried women may subscribe for, hold. /
transfer or surrender stock without the |
bands as provided by law.
q. Payments on running shares, INSTALL
ments and interest shall be due and paya-
BILE monthly. by the tenth of each current
month, at the office of the society: and
all payments shall be imputed: OTTO the
settlement of interest due; (2) to install
ments on shares; (3) reimbursement Of
moneys paid for account of sharehold-
ers; provided. that this order of impu-
tation. may be changed at the discretion
of the Board of Directors.
Z. Any borrowing shareholder failing
to make the payments required during
atty therefor One Cent on each share held
by him or her, or for each such failure
which shall be charged against such share
holder; provided. any shareholder thus
in default may have the penalty thereon
by paying twice the amount
which he or she owes at the time of set
Element.
s. Shareholders of running and chill
from the society the full
AMOUNT paid in, with the accumulated
profits thereon, as shown at the preced-
ing dividend time less any charges and
proportion of losses. if any, upon filing
written notice, which shall be registered
BY the Secretary in the order of their
receipt; and Withdrawing Shareholders
snail De paid in rotation, as registered.
,ut or the first unappropriated money in
he treasury.
o. Provided: Whenever the propor-
ION of receipts ordinarily made appli-
able to the demands of Withdrawing
directors is not sufficient to pay all such
demands within sixty days from date of
lotice. one-half of the receipts shall
hereafter be applied to the liquidation of
ne claims OF Withdrawing members until
III deferred claims are paid. Any share I
holder may be permitted to withdraw
part or the accumulation to his or her .
redlt by reducing the number of shares
leid Dy him or her proportionately.
10 Should there be an oyer-accumula-
Ion OF funds beyond the use of the
ociety, the Board shall have the right
o call in unpledged shares for redemp ,
ION; provided, that the full-paid shares
nail be called in first in the reverse !
rider of their issue, and shall be re-
eemed for face value. plus interest. for
ne time intervening since last dividend.
y the same rate as last dividend de- |
Jared; and should all full-paid shares
e redeemed, the alphabetical Juvenile
INNING and children's shares may be !
alled IN the oldest shares to be redeemed
rst, and at their withdrawal value, plus $
interest intervening since date of hast
ividend, at the same rate as the last I
ividend.
IL. On the death of a member. not
eng in arrears. his or her legal rep. !
sentative shall be entitled to receive in 5
ASH the Withdrawal value of the stock $
I the time of the past payment made :
y SUCH deceased or said representative :
hall be entitled to transfer said stock !
others. or to continue the membership :
y payment of the monthly installments; :
royided. nevertheless, that the position 9
the deceased member and such repre-
entative be determined, as regards this ,
ociety. In ninety days next following .
UGH death. S
II. All transfers of stock shall be o
lade on the books of the society on c
lrrender of the certificate of stock, and Z
! the presence of the Secretary; and n
oSr 81 -oAUsE s1s's CO..