The herald. [volume] (New Orleans, La.) 1905-1953, 1922-12-28
CHARTER.

shares of the par value of One Hundred |
Dollars (S1OOOO per share. The amount |
of the said stock may be increased to |
Five Hundred Thousand Dollars $780, ]
0O0.O0). No transfer of stock shall be |
binding upon the corporation unless made |
and recorded upon its books. No stock |
holder shall have the right to transfer !
or convey any of his or her stock in the |
corporation unless and until he or she |
shall have first made a written offer to |
the other then stockholders of the cor
poratiOn and to the corporation itself, |
to sell his or her stock 10 them at the
valuation to be determined by the board
and in case of dissatisfaction as to the
price set by the board, the matter shall
be arbitrated, one arbitrator with the
power of amicable cOmpOunder to be ap-
pointed by the board and one by the
party desiring to sell his stock, and an
umpire to be selected by those two, who
shall take oath and whose decision shall
he final, and no recourse to the courts
to be thereafter allowed. And all shares
of stock when so purchased may be re-
issued at not less than par.
such written offer shall be addressed
to the other then stockholders, and To
the corporation itself, collectively, and
shall be delivered to the office of the cor
poration not less than ten days prior 10
the application for transfers of the stock.
The corporation shall transmit this offer
to the respective then stockholders, and
the stock of the stakeholder desiring to
sell shall be distributed pro rata among
such of the other stockholders as desire
to purchase, in the proportions in which
the holdings of the stockholders deslrOus
of purchasing bear TO each other; and
if the total which such other stOckhold-
ers desire to purchase is less than the
total offered for sale, then after each
] of the other stockholders shall have taken
aud paid for the amount of stock which
/ he or she desires to buy, and to which
| he or she is entitled, then the remainder
untaken shall be open for purchase by
| the corporation itself; and unless pro-
/ tod nv laNU hA
| itself use and apply its surplus earnings
or accumulated profits to the purchase
| from any stockholders desiring to sell
of any portion of that stockholders stock
which none of the other stockholders
may desire to acquire provided that
the corporation shall not apply any OF
| its capital to the purchase of such stock,
but shall always maintain its capital I'M
1.-THE corporation shall have the right
to refuse to transfer any stock so long
as the shareholder demanding the trans
! fer is In any way indebted TO the cor
! poratiOn, and the corporation shall have
a lien, pledge and privilege on each share
Of stock to secure any Indebtedness due
| by the shareholder to the corporation.
should any of the stock offered for sale
be not desired by the other stockholders,
and should the corporation itself be un-
willing or unable to purchase any or the
| same out of it's surplus earnings within
ten days from receipt at the corpora
tons office Of the written offer to sell,
then and only then shall the stakeholder
desiring to sell be entitled to transfer
such undesired portion Of the stock to
such person or persons, and at such price
as he or she may see fit"
And the said appearers moreover de-
clared that in consequence of the fore
going and pursuant to the authority in
them vested by the stockholders OF the
said Lucanna Realty CO.. Inc, they do
hereby formally and publicly declare and
make known that in the manner pre-
scribed by law and pursuant to the
charter provision Of said corporation, the
charter provisions of the Lucanna Realty
Co, Inc, have been changed. altered and
amended as hereinabove set forth and
written, and they do hereby direct and
require that the above stated changes In
Article Nv of said charter of the Lucanna
Iished in the manner prescribed by law,
to the end that said change and amend
ment shall be hereafter and at all times
as hereinabove set forth, as regards all
become stockholders or creditors of the
said corporation, or who may enter into
contractual relations with 1t.
Thus done and passed in my office In
the city of New Orleans on the day, date
and month hereinabove written. in the
presence of NJ. G. Stein and Gladys Jene
competent witnesses, Of lawful age, resid-
ing in New Orleans, after due reading Of
the whole.
Witnesses: NJ G. Stein, Gladys Jene.
A. L. sHUSHAN,
President.
HY. d. STRACK,
Secretary Treasurer.
A true copy:
! H. W. KAISER.
I Notary Public
/, the undersigned Recorder Of Mort
cages in and for the parish of Orleans
state of Louisiana, do hereby certify thai
the above and foregoing act of incorpor
alton Of the Lucanna Realty Co., Inc.
was this day recorded in this office IL
Book 1919, folio 1903.
New Orleans, Dec. IA, 1922.
| ROBT SCOTT,
Deputy Recorder.
! A true copy:
II. W. KAISER,
Notary Public.
| noa Iah