The herald., 1922-02-09
CHARTER OF THE ECONOMIC
IN INC

Jan. 90 Mch.
CHARTER OF THE ECONOMIC
REALTY CO. INC.
State of Louisiana Parish Of orleans
City of New Orleans. Be il known an'
remembered that on this 9th day of tn
month of January, in the year 1922, be
fore me- Herbert W. Kaiser, Notar!
Public. duly sworn, commissioned ant
qualified, in and for the Parish and Stat
aforesaid, and in the presence of the wit
nesses hereinafter named and under
signed, personally came and appeared th'
persons whose names are hereunto SUB
scribed, who declared that, awaiting
themselves of the provisions of the laws
of this State relative to the organization
of corporations, and more particularly
to Act 267 of the General Assembly OF
the State Of Louisiana, for the year 1911
they have covenanted and agreed, and
do by these presents covenant and agree
| to bind, form and constitute themselves
| as well as such other persons as may
hereafter join or become associated with
them, into an association and body pol
itic in law, for the objects and purposes
| and under the agreements and stipula-
| tons hereinafter set forth, to-wit:
| ARTICLE 1. The name and title of
| this corporation shall be ECONOMIC
| REALTY CO, INC, and under that name
| ii shall have and enjoy all the rights
| privileges and advantages conferred by
in general, and shall exist for a period
of ninety nine years, unless otherwise
dissolved, beginning from date of this
act of Incorporation 1t shall have power
and authority to sue and be sued, to
buy and sell, hold, own, lease, mortgage
and hypothecate and pledge property.
real personal and mixed; to name, cleo.
and appoint managers, directors anG
clerks and other employees to properly
conduct its corporate business. and TO
make bylaws, rules and regulations as
may be found necessary or desirable for
the management of the corporation, and
shall do everything to correctly carry
out its objects and purposes.
ARTICLE III. The domicile of this
corporation is hereby declared to be the
City of New Orleans, State of Louisiana.
All citations and other legal process shall
be served upon the President, and in the
absence Of the vice-President, and in the
absence of both of them, upon the
Secretary Treasurer of the corporation
ARTICLE Ill The objects and pur.
poses for which this corporation is organ
lied and the business to be conducted
by 1t are declared to be to buy sell or
otherwise acquire and ALLEVIATE real estate
and lands; to lease, release real estate
ana lands, to mortgage and hypothecate
the same, and to do general real estate
and land business, and to do any and
all such acts and things as may or shall
"a, anu proper 10 carry out
| SAID objects and purposes.
ARTICLE ~. The capital stock NJ
this corporation is hereby fixed at
Seventy-fve Hundred Dollars ($75OO. OO).
divided into and represented by Is
SHARES at the par value of $4,000 per
spare, with the privilege of increasing
same to 100000 And this corporatio5
| snail be going concern when 81. 600 90
| or the capital stock shall have been sinh
seribed and paid for. Said stock shall
De represented by certificates Of stock.
to be paid for in cash, or its Equivalent
In property, as the Board of Directors
snail see mt and proper. All shares shall
| De fuIl-paid and worcestershire No
stockholder shall have the right TO sell
or otherwise dispose of his stock in this
corporation without first Offering same
10 THIS corporation and to the individual
members Of this corporation, at the hook
vaiue thereof, and this corporation is
authorized to purchase said stock at said
DOCK value for the benefit of the other
stockholders Of the corporation. Should
s.e corporation decline to purchase said
| STOCK, the shareholder shall have the
r1ght OF option to offer said stock for
SAFE TO any other person or persons, firm
or corporation.
ARTICLE v. All the corporate powers
OF this corporation shall be vested in
ana TO the management and control of
| its business and affairs conducted nv
Board OF Directors, composed of not less
than three stockholders. Said Directors
shall be elected by ballot at a general
meeting Of the stockholders to be held
on the 9th day of January, 1922, and an
nually thereafter on the first Tuesday i'm
January. provided same is not a legal
holiday, In which event on the next bank
Ing day thereafter. Every stakeholder
shall be entitled In person or by proxy
TO one vote for every share of stock
owned by him. All elections shall be
nd
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 9Th
day of January, 1923, or until their snc-
cessors shall have been elected and
qualihed; 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
De filled by the remaining directors for
the unexpired term. majority of The
stockholders at a meeting shall constitute
quorum for the transaction of business.
SAID Board of Directors shall at ITS
nrst meeting after its election. elect ont
OF the members President. Vice
presiaent, and Secretary Treasurer. Said
and dismiss such officers, agents. clerks
ana employees as they NAV deem ad-
'isaoie' and to fix their compensation.
SAID Board Of Directors is vested with
tne power and authority to mortgage or
piedge the property, real, personal and
s, OF the corporation, as they may
ueem MT and proper; to purchase. hold
own, mortgage pledge, lease and dispose
=. rear estate; to execute MORTGAGES.
- notes. bonds and other evidences
oI oept; TO borrow and lend money ON
same to and from individuals. firms ana
corporations for such terms and on snch
as they may deem advisable
AhIiCLE vi. No stockholder shaIi
ever eve De held liable or responsible for
a., e1 p, or faults Of said corpor- |
z.acn IN any further sum than the mn.
paid balance due on the shares a. ..eas
swned oy him. nor shall any mere ;nsor-
nany IN organization have the efsect ~
'enoertng this charter null, or exposina