The herald. [volume] (New Orleans, La.) 1905-1953, 1922-01-19
CHARTER.

January, provided same is not Il legal
holiday, in which event on the next bank
| ing day thereafter. Every stakeholder
shall be entitled in person or 10y proxy
to one vote for every share of stock
ow ned by him. All elections shall! be
/ held under such rules and regulations
as may be determined by said Board OF
! Directors. Ten days written notice
directed TO the last known address Of
every stakeholder shall be given of all
elections. The directors thus elected
| shall continue in office until the 18th
day of January, 1928 or until their sue
cessors shall have been elected and
qualified; any failure to elect officers or
| directors shall not be considered as a
forfeiture of this charter. Any vacancy
occurring in the Board of Directors shall
be filled by the remaining directors for
the uneXpired term. \ majority of the
stockholders at Il meeting shall constitute
Il quorum for the transaction of business
Said Board of Directors shall At its
first meeting after its election, elect out
of the members President, Vice
President, and Secretary Treasurer. Said
Board shall have the power to appoint
and dismiss such officers, agents, clerks
and employees Us they may deem adj
VisIble, and to fix their compensation.
Said Board of Directors is vested with
the power and authority to mortgage or
pledge the property, real, personal and
mixed, of the corporation, as they may
deem tit and proper; to purchase. hold,
own, mortgage, pledge, lease and dispose
of real estate; to execute mortgages,
issue notes, bonds and other evidences
of debt; to borrow and lend money on
same to and from individuals, firms and
corporations for such terms and on such
conditions they may deem advisable.
ARTICLE VI. No stakeholder shall
ever be held liable or responsible for
the contracts or faults of said cOrpOr-
atlcn in any further sum than the I'M
paid balance due on the shares of stock
owned by him, nor shall any mere infOr-
mality in organization have the effect of
rendering this charter null. or exposing
II stakeholder to any liability beyond the
amount of his unpaid stock, nor shall
anysinfOrmality or irregularity in Organi-
ZatiOn have the effect of rendering any
stakeholder liable as a partner.
ARTICLE VII. AZ the expiration of
this Charter or the earlier dissolution
of this corporation for any cause, It's
affairs shall be liquidated by one or more
liquidators. to be elected by the stock
holders all of whom shall hold stock in
said company, and the said commission
ers are hereby vested with full power
and authority to liquidate the affairs of
said company in accordance with terms
of Section 80 of Act 261 of 1914.
ARTICLE VIII. The appearers here
by declare that they have subscribed
to the number of shares of capital stock
set opposite their names, and the sig
nature thereto shall constitute their
original subscription to the capital stock
of said corporation.
Thus done and passed in my nOtarial
office in the City of New Orleans, the
day. month and year first above written,
in the presence of Gladys Jene and Fred
A. Wulff, Jr., competent witnesses, who
have hereunto signed these presents with
said appearers and me- Notary. after due
reading of the whole.
Signers:
Witnesses:
FRED 4. WULFF, JR.
GLADYS JENE.
II. W. KAISER
Notary Public.
/ hereby certify that the Articles Of
Incorporation of Economic Realty Co.
Inc, have been recorded in Book 1858.
folio -.
ROBERT SCOTT.
Deputy Recorder.
Ian IL. Enh 1G