The herald. [volume] (New Orleans, La.) 1905-1953, 1922-03-16
AMENDMENT TO CHARTER OF SIXTH
DISTRICT BUILDING AND LOAN
ASSnCIATInN

| y IN IL
DISTRICT BUILDING AND LOAN
ASSOCIATION.
United States of America, State of Louis
lana. Parish of Orleans. BE it known
that on this thirtieth day of the month of
January in the year of our Lord, one
| thousand. nine hundred and twenty-five
| G922). Before me, Louis Richard Alba, n
! Rotary public, duly commissioned and
qualified in and for the Parish of Or
leans and in the presence of the witnesses
hereinafter named and undersigned, per-
sonally came and appeared, John +. King,
| of this city and of the lawful age of ma
jority. the President of and herein repre-
! senting the sixth District building and
| Loan Association. corporation dOmi-
ciliated in this city, created by an act
before John T. Michel, notary public,
dated September Goth. 1894, recorded in
| the Mortgage Office of this Parish in Book
5l6, folio DDS and amended by act before
Andrew II. Wilson, notary public, dated
the 18th of May. 1896, recorded in the
Mortgage Office of this Parish in Book $50
folio 362. and by act before g. q. KrO-
nenberger, notary public, on the 2lst of
February, $685. recorded in the Mortgage
| Office of this Parish in Book 600 folio
40. and by act before G. G. Kronenberger.
notary public. on April 2nd, 1907, record
ed in the Mortgage Office of this Parish
in Book So, folio $50, and by act before
| James Boyd Grinage. notary public, on
February 10th. 1913, recorded in the Mort
gage Office of this Parish in Book loss,
folio %, and by act before Louis X. Alba,
notary public. on the 18th of March. 1916.
recorded in the Mortgage Office of this
Parish in Book 1875, folio 365.
| Who declared. that by virtue of and
| pursuant to the provisions of Article IN
of the above act of incorporation, and pur-
suant to a resolution adopted by the stock
! holders of said association at q general
meeting called for that purpose and held
ut its dOmicile in New Orleans, on Jan
uary 23rd. 1922, the whole agreeably TO
said Article IN of the charter, authoriz-
| ing and directing him to carry out the OBJ
ject of said resolution which provides for
| the amendment to Section one. two, six,
| and fifteen of Article " of the charter
and Sections one and two of Article '
| of the charter and Article VII of the char
| ter and Article IN of the charter of said
association, all of which is more fully
| shown by a duly certified copy of said
resolution hereto annexed.
He does. by these presents In his said
capacity for and in behalf of the Sixth
| District Building and Loan Association
pursuant to said resolution declare Sec
tions one, two, six, ten and fifteen OF
Article ~ of the charter and sections one
Article VII of the charter and Article IN
of the charter to be amended in the man
ner and to read as follows. to-wit:
ARTICLE Nv
Section 1. The capital stock Of this
| corporation shall be five million dollars.
| tSO,UUO.UDUUuD ana snail hereafter De issued
in shares of one hundred dollars. (Sl0O.O0)
each; provided that the outstanding shares
of two hundred dollars each shall not be
affected hereby.
Section 2: The shares of this corpora
ton may be of two kinds, Running
Shares" and paid Up Shares; "Run-
ming Shares" shall be paid for in month
ly or weekly installments at the rate of
at least one dollar per share per month
each. Additional payments may be made
N M nf N he
option of the shareholder paid Up
Shares" shall be paid for in full at the
date and time Of issue. Paid Up Shares
shall not be entitled to dividends, but
shall be guaranteed not more than six
per cent interest per annum from its
date. in the discretion of the board of
directors. Provided, that this corpora
| ton shall have the right to call in said
stock and redeem same for the face value
thereof, after not more than three months
notice to said stockholders, and such
stockholders shall have the right to have
their stock redeemed in a similar manner
after not more than three months notice.
in the discretion of the board Of directors
subject, however, to the provisions for
withdrawal OF running shares as con-
tanned in Section 10 of this article.
Section 9. Payments on Running
Shares, installments and interest shall
be due and payable in monthly or weekly
installments at the office of the associa-
ton, and all payments shall be imputed :
~ To settlement of interest due, (2) for
reimbursement of moneys paid for ac-
count of shareholder, (3) to installments
on shares; provided that the order of i'm
putation may be changed at the discretion
of the board of directors.
Section TO- Holders of running shares
not being in arrears may withdraw from
this association by giving to the president
thereof one months notice in writing of
such intention, when such Withdrawing
stakeholder shall, on the surrender of
at o.. ~ -. I'd all Ar,AS nail
by him out of the first unappropriated
moneys in the treasury; provided. each
written notice Of withdrawal given as
aforesaid. shall be registered by the sec
| rotary treasurer, and numbered from ]
up. and the Withdrawing stockholders
paid in rotation as aforesaid; provided,
that not more than one-half the monthly
receipts shall ever be used for the purpose
there should be an over-accumulation OF
funds which cannot be leaned In the usual
manner upon real estate.
Section Is. The dividends declared on
Running Stock" shall be credited on the
pass books of the members annually, and
the interest on paid Up Stock" shall be
paid in dividend checks on or after the
First of January and JULY of each year
ARTICLE V.
Section 1. The corporate powers of the
association shall be exercised by a board
of directors to consist hereafter of twenty
stockholders, each of them owning al
least five shares in his own name. who
shall be elected by the stockholders on
the fourth Monday In January, of each
and every year. Any stakeholder ceasing
to own five shares shall. ipso facto, va
cate his seat on the board.
Section 2 Notice Of said election shall
be given ten days prior to the annual
meeting by publication one time In two OF
the daily newspapers Of the City Of New
Orleans. and by written or printed no
tees mailed or delivered personally tc
stockholders of this association by the
secretary. Said elections shall be by bal
lot. and shall be held at the domicile OF
this corporation. under the supervision OF
three shareholders appointed by the board
of directors at the last preceding regular
meeting thereof. who are not candidates
for election. The shareholders receiving
majority Of the votes cast shall be de.
clared elected.
ARTICLE VII.
Special meeting Of the shareholders shall
be convened at the request In writing o.
one fourth Of the shareholders, stating thu
time and object Of such meeting, or wheI
ordered by the board Of directors.
ARTICLE TX.
This charter can be altered. amended
or modified, or this corporation dissolved
by a vote of three-fourths Of the capita