The herald., 1922-05-04
CHARTER OF
REALTY DEVELOPMENT CO., M.

CHARTER OF
REALTY DEVELOPMENT CO., lNC.
United States of America, State of
Louisiana, Parish of Orleans. city Oh
New Orleans lie it known that on the
10Th day of the month of March, III lhe
year of our Lord, one thousand nine nun
dred and twenty-five, ana OF the hue
pendence of the United States of America,
the one hundred and forty sixth, before
me- WILLIAM j. GUSTE, "A Notary Pub
lie duly commissioned and qualihed IN
and for the above parish and state there
in residing, and in the presence OF the
witnesses hereinafter named and under
signed, personally came ana appeareu
the several parties whose names are here
unto subscribed who severally declared
that availing themselves of the laws OF
the State Of Louisiana, in such cases
made and provided, and more partlcu-
larly of Act 261 of the General Assembly
of the State of Louisiana of l9li, ana
the acts amendatOry there6I, relating to
the creation, organization and formation
of corporations, they have cOvenanted
and agreed, and by these presents DO
hereby covenant, agree ana BIND them
selves, as well other persons VINO
may hereafter become associated with
them, to form corporation, for the
objects and purposes under the articles
and stipulatiOns following, which they
hereby adopt as their charter. to-wit:
ARTICLE l. The name and title OF
this corporation shall be REALTY DE-
VELOPMENT CO. INC, and under its
corporate name it shall have power and
authority to have and enjoy corporate
existence for period of ninety nine
years from date hereof, unless sooner
dissolved by liquidation or otherwise; II
shall have power to contract, TO sue and
be sued; to make and use corporate
seal. and to alter and break the same
hAlI lnlN lAnl r
chase, transfer, assign, mortgage, hypoth-
ecate, pledge or otherwise dispose OF
property, real, personal or mixed, cor
pOreal or incorporeal; to issue bonds
and other evidences of Indebtedness, and.
if desired to secure the same by mort
gage, pledge or otherwise; to buy, hold
and reissue shares of its own capital
stock: to hold stock in other companies; /;
to name, elect and appoint officers, dlrec-
tors, managers, agents and employees; to
make and establish, alter and amend
laws, rules and regulations for its proper
government, as may be deemed necessary
and proper for the extension of the bust
ness in which the corporation is engaged.
ARTICLE III. The domicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans, State or
Louisiana Citation and all other legal
process shall be served on the President,
and, in his absence, on the Vice President,
the Secretary or Treasurer, or the Secre-
tary Treasurer. should these offices be
combined in one person.
ARTICLE Ill. The objects and pur-
poses for which this corporation is estab-
lshed and the nature of the business to
be carried on by il are declared to be
as follows:
To purchase, acquire, hold, own, use,
mortgage, pledge, or otherwise handle or
deal in real and personal property Of
any nature whatsoever, together with
the rights, ways and privileges and servi-
tudes thereuntO appertaining, or in any
wise belonging; to improve or enhance
buildings and improvements of all kinds;
TO lease, rent. mortgage, pledge, sell,
convey and ALLEVIATE any and all such
property, real or personal; to act as
agent or broker, and generally to con-
duct and carry on such other business
as may be found necessary or convenient
for properly fulfilling the aforesaid pur-
poses or enhancing the value of the
property, rights and privileges of said
corporation.
ARTICLE ". The capital stock of
this corporation is hereby fixed at the
sum of Three Hundred Thousand Dol
lars (S3O0,OOO.0O). and shall be divided
into and represented by three thousand
shares of the par value of 500 each.
The said stock shall be paid for in
cash or its equivalent, as provided by
law. and in such manner and at such
times and in such installments as may
De preScrlDeu Dy tne fOarO OF directors.
This corporation shall become going
concern and shall be authorized to COM
mence business as soon as fifty 500 per
cent of its capital stock shall have been
subscribed, and fifty (50) per cent OF
all stock subscribed for shall in fact have
been paid for, either in cash or its equiv
alent.
ARTICLE V. The capital stock of this
corporation may be increased to the sum
of Five Hundred Thousand Dollars $780,
OOO.OO), by a vote of two-thirds of all
the stock present or represented at
special meeting called for that purpose.
or at a regular annual meeting of the
corporation.
ARTICLE VI. No transfer of stock
shall be binding upon the corporation
unless recorded upon its books, nor shall
any stockhOlder have the right to sell
any of the shares held by him without
having first offered the same to the stock
holders of record, in proportion to their
holdings, through the Board of Direc-
tors, at the book value of the stock at
the closing of the last fiscal year; or
the said offer shall be made in writing
and the stockholders shall have the right
within a period of thirty days after the
offer to sell las been received by the
Board of Directors, to purchase the
shares so offered, for cash, at such value
Should the shareholders not desire to
purchase the said stock. the corporation
for cash, and such stock thus acquired
or any stock of the corporation which
1t may buy or otherwise acquire may
be held, reissued or sold by the Board
OF Directors at such price as the Board
of Directors. in its discretion. may de-
termine proper.
The certificates of stock shall have
written or stamped upon them a refer
ence to the provisions of this article of
the charter.
By the consent OF two thirds of the
directors, at a regular or special meet
ing called for that purpose. and without
the necessity for any amendment to the
charter, the necessity for writing or
stamping such inscription upon the stock
certificates may be dispensed with, or
the certificates containing such inscrip-
tion may be called in and new certificates
without the inscription may be issued
in their stead, and similar change from
one class Of certificates to the other may
be made from time to time, in the man.
ner above provided
ARTICLE VII. The corporate powers
OF this corporation shall be vested in
and exercised by board Of not less than
three nor more than five directors. Should
less than five be elected at an annual
election. the stockholders may at any
time, by majority vote at a special
meeting, elect such additional director
or directors, not to exceed n total Of five
directors. Two directors shall constitute
quorum for the transaction of business.
should there be three directors; and
three directors shall constitute a quorum
fro - h,.s L..