The herald., 1922-07-06
CHARTER
vivors shall appoint a stakeholder as sue
| cessOr to him.

vivors shall appoint a stakeholder as sue.
cessOr to him.
ARTICLE yII-This charter may be
modified. changed or altered, Of said
corporation may be dissolved, with tbs
assent Of the stockholders owning two
general meeting Of the stockholders con
yened for that purpose, after fifteen, l0D
days written notice shall have been given
To each stakeholder, mailed TO him at his
last known address.
ARTICLE yIII-The shares Of stock
shall be transferable only on the books
Of the corporation and no transfer OF
stock shall b. binding or have any effect
upon the corporation unless and until
made upon its books.
No subscriber for stock shall ever b.
held liable for the contracts, faults OF
debts Of said corporation in any further
sum than the unpaid balance. II any. due
the corporation on the stock for which
he has subscribed, nor shall any stock
holder ever be held liable for such con
tracts faults or debts ia any further sum
than the unpaid balance If any, on the
stock owned by him; rOr shall any mere
nfOrmality in organization have the ef-
feet Of rendering thiS charter null. or
rendering any subscr!' er liable beyond
rhe unpaid amount, IL any, remaining on
his stock.
No stakeholder in this corporation shall
have the right 10 sell the stock Of this cor
poration owned by him without first Of
fering the same. in writing through the
board Of directors, to the other stock
holders AZ its book value at the close OF
the last fiscal year. and the stockholders
shall have the right within fifteen, 10.
days after the offer to sell has been re-
ceived by the board OF directors q pur-
chase the stock so offered. should the
stockholders not desire 10 purchase the
stock offered for sale, the corporation may
purchase the same for cash. and any stock
thus acquired and any stock Of the cor
pUratlOn which it may buy or 9th arwiSe
acquire may be held. re-iSsued or sold by
the board of directors at such price as the
board Of directors. in its discretion, may
determine proper.
ARTICLE IN-This corporation is or
ganized under the laws OF the State ot
Louisiana. and especially Act 261 Of 1914
and the subscribers hereto. for them
selves and for said corporation and for
its officers, directors and stockholders.
hereby accept, as part Of this charter
and ~ conditions Of this corporation. all
munitieS granted to corporations. and
granted to and conferred upon officers,
directors and stockholders Of corporations
by said laws and said act: such accept
ance being as full. complete and binding
n il said rights, powers. privileges and
immunties were set forth at length in
this instrument.
Thus done and passed in my office in
the city OF New Orleans. aforesaid. in
the presence of Leah Simerick and Joseph
+. Gcgarty. competent witnesses of lawful
age and residing in this city, who here
unto subscribe their names. together with
the said appearers and me-, notary, on the
day and date set forth in the caption
hereof after due reading Of the whole.
Witnesses: Joseph F. Gogarty, Leah
Simerick.
ORIGINAL SIGNED):
Edward J. TOnguis, 1926 Coliseum
Street. l share: Henry Il. Reese 344
LOwerline Street. l share; John B. Reese.
"a LOwreline Street. l share.
STANLEY McDERMOTT.
(SeaD Notary Public.
/ hereby certify that the above and fore
going is a true and correct copy Of the
Act OF Incorporation of the Modern
Homes. Incorporated. passed before me
IN the nth day OF June. 1922. and which
5 now on file and Of record in my no
-arial office
STANLEY McDERMOTT,
(SsaD: Notary Public
l. the undersigned Recorder Of Mort
yages. in and for the Parish Of Orleans.
state Of Louisiana, do hereby certify that
he above and foregoing Act Of IncOrpOra-
ion Of the Modern Homes. Incorporated.
vas duly recorded this day in my Office
n Book -. folio -.
New Orleans, La, June -. 1922.
(Signed): ROBT. SCOTT,
Deputy Recorder.
tune 22-July -.