The herald., 1922-07-06
CHARTER.
CHARTER OF MODERN HOMES, IN
CORPORATED.

CORPORATED.
United States Of America, State Of Louis
lana, Parish OF Orleans, City Of New Or
leans. Be IL known. That on this seven
teenth day Of June. in the year Of our
Lord. one thousand nine hundred and
twenty-five. and Of the Independence OF
the nited States Of America. the one
hundred and fOrty-stxth. before me
Stanley NcDermOtt, a notary public. In
and for the Parish Of Orleans. State OF
Louisiana. duly commissioned and quail
fed, and in the presence Of the witnesses
hereinafter named and undersigned. per
sonally came and appeared. the persons
whose names are herpuntO subscribed, all
above the full age OF majority, who de-
clared. that availing themselves Of the
laws OF the State Of Louisiana. particu-
larly Act 90 of 1914. relative 10 the or
ganizatiOn Of corporations. they do. by
these presents. agree and bind them selves,
as well as such other persons as may here
after become associated with them, 10
form and constitute a corporation for the
objects and purposes and under the ar
ticles and stipulatiOns following. tO-wit
ARTICLE The name and title Of this
corporation shall be Modern Homes. In
COrpOrated. and, under that name. il shall
have and enjoy all the rights. advantages
and privileges granted by law to corpora
tiOns, and shall exist for the full term
and period of ninety-nine years from date
TO contract sue and be sued to make and
use a corporate seal. and the same % alter
or break at pleasure; TO hold, receive
lease. purchase. sell and convey. as well As
10 mortgage, hypOthecate and pledge pro
perty. real. personal and mixed. corporal
and incOrOreal. to have and appoint such
managers, directors. officers. agents and
other employees a. its interests and con
venienCe may require, and TO make and
establish as Well alter and amend.
from time 70 time. such bylaws. rules
and regulations as may BE- necessary and
eNpedient for the proper management and
government Of the AFFAIRS OF said corpora
ton
ARTICLE 1.-THE dOmicila Of this cor
pOratiOn shall he in the City Of New Or
leans. State Of Louisiana. and all eta
tons or other legal process shall he served
upon its president. or, in his absence.
upon its secretary treasurer.
ARTICLE III-The objects and pur-
poses for which this corporation Is or
ganiZed and the nature Of the business %
be carried on by IL are hereby declared 10
be: To rent, deal in. purchase. acquire.
hold. own. sell or otherwise dispose Of.
mortgage and hypOthecate lands and real
property Of every kind and class to sub
divide. develop, manage and improve the
same: TO construct. erect alter and repair
houses and buildings, and to buy and sell
all kinds Of materials used by builders
and generally to do a general real esta|p
agent for others. with full power 10 issue
bonds. debentures, notes or other Obli-a-
tiOnS Of the company, from time u time
for any OF the objects or purposes Of the
company, and TO secure the same by mort
gage, pledge deed Of trust or otherwise
and TO loan and invest money, secured or
unsecured: to purchase. hold and Reissue
the shares Of its capital stock in the man
ner and to the extent permitted by the
laws Of the State of Louisiana. and IN
general TO do anything necessary. incl
dental or connected with the said objects
and purposes, as well as to exercise all
rights and powers conferred on corpora
tions by Act 267 Of 1914.
ARTICLE Iv-The capital stock Of this
corporation Is hereby fixed at one million
dollars $1,000 900 00). to be divided into
and represented by forty thousand. (4O.-
OOOD. shares OF the par value OF twenty
in cash at such time and manner as may
be determined by the board OF directors.
or which may be issued at not less than
par value for services rendered or for
property or rights received by or assigned |
to the corporation.
This corporation shall become a going |
concern and shall be authorized 70 com |
mence business as soon as fifty. (50). per /
cent OF its capital stock shall have been /
and fifty, (50) per cent of
all stock subscribed for shall in fact have
been paid for. either in cash, by services /
by or assigned to the corporation.
The capital stock Of this corporation
may be increased to a sum not exceeding |
two million dollars, $1,000 O0OO).
ARTICLE V-All the corporate powers 4
OF this corporation shall be exercised by /
a board Of directors Of not less than three /
nor more than eleven stockholders, n ma 1
iority OF whom shall constitute a quorum |
for the transaction Of business. The di- /
rectors may vote in person OF by writ
in farn ~
The board Of directors shall elect annually /
from among their number a president. !
and a secretary treasurer
The first board Of directors shall con-
sist of Edward J. TOnguis, John R. Reese
and Henry Il. Reese. whose present ad- /
dresses are set opposite their respective /
names to the subscription to the capital |
stock Of the corporation, with the said ,
Edward j. TOnguis as president. Henry /
II. Reese, as vice-president. and John X. /
Reese as secretary treasurer. These di- /
rectors shall serve until their successors /
have been duly elected and qualified.
The annual meeting of the stockholders
for the election OF directors shall be held !
on the second Thursday of June in each /
year, unless said day be a legal holiday. |
then on the next bank day thereafter. |
Any vacancy occurring among the direc |
tors by death, resignation or otherwise, /
shall be filed by election for the unex- /
pired term by the remaining directors.
Each subscriber hereto sets after his |
name. his post Office address and a state |
ment OF the number Of shares OF stock in /
the corporation which he agrees to take. /
At all elections every stakeholder shall |
be entitled to one vote for each share Of |
stock outstanding in his name on the !
books OF the corporation to be cast in per- |
son or by written proxy. A majority Of
votes cast shall elect.
ARTICLE Win the event Of the Hqui- !
datiOn or dissolution OF this corporation, |
the stockholders shall elect three lquida- |
tors from among their number. at a meet |
ing convened for that purpose. after fiji |
teen, Q5), days written notice sent to /
each stakeholder, by mail. to his last
known address; said nuduidators shall |
have the authority to wind up the bust |
ness and affairs OF this corporation. In /
case of the death OF a liquidator. the sur