The herald., 1922-02-09
AMENDMENT TO CHARTER OF THE
EUREKA HOMESTEAD SOCIETY.

| SOttGths
state of Louisiana, Parish of Orleans,
/ OH this the 10th day of January, in the
! year of our Lord 1922, before me, PERCY
5. BENEDICT. a Notary Public duly
| qualified and commissioned in ana Tor
| the parish and state aforesaid, ana IN
the presence of the two undersigned com,
| potent witnesses, personally came ana
, appeared Joseph W. LennoX, Esq, ana
| Robert j. Palfrey, ESQ., respectively the
! President and Secretary OF the EUREKA
Homestead Society, legal corporation
| of this parish and state, which sald APP
| bearers declared to me, Notary, ana the
/ undersigned witnesses, that AT meet
| ing of the stockholders of said Eureka
| Homestead Society, held on the third
/ day of the month of January, 49,, at
| its domicile, No. AL Camp street, in this
city and after all legal prerequisites had
been observed, there appeared, either in
| person or by proxy, 1850 shares or
! the capital stock of the said corpor-
alton, out OF a total of T6,SiS shares,
/ and by unanimous vote OF the stockhOld
| ers present or represented, in accordance
with the general laws of this state and
| of the eNising charter of the said COM
pany. Articles III, " and V of the said
| charter were amended and re-enacted so
as TO read as follows, to-wit:
ARTICLE III.
The objects and purposes of said cor
poration shall he the accumulation of a
Z
and from the monthly installments paid
on account of subscriptions to the run
ming stock of this society, from rentals.
from premiums, and from interest on
loans. The funds so accumulated shall
be used for the purchase of real estate.
the building and renting of homesteads.
and the lending of money upon mort
cages in the city of New Orleans and
adjoining parishes, or stock of this
society, as provided in the bylaws. No
loans upon other than real estate security
or stock of this society shall be made
without the consent OF at least twO-thirds
of the Board of Directors.
ARTICLE ".
l. The capital stock of this society
shall be Twelve Million Dollars (sl2,0O0.
0O0.OO), which may be issued in running
and full-paid shares of Fifty Dollars
$4,000 each, or children's shates of
Twenty five Dollars $4,000 each. The
outstanding alphabetical and Juvenile
shares, when withdrawn, matured, re-
tired or cancelled, may be issued to like
amounts in above classes. Running
shares and children's shares shall be paid
for at the rate of Twenty-Five Cents per
share per month.
2. On shares pledged as additional
security for real estate loans, the monthly
interest due on such loans shall be first
deducted from each such payment, and
the difference entered payments on
stock; provided, additional payments
may be made at any time or in any
amount, at the option of the shareholder.
3. Full-paid shares shall be paid for
in full at the date of their issue. Run
ming shares may be converted into full
paid shares by the holder paying the
difference between the present value and
the face value of such shares, or when
such shares reach their face value; pro-
vided, that certificates of full-paid stock
shall be issued only when authorized by
and subject to such terms and conditions
as the Board of Directors may prescribe.
A AAl.
enjoy the same privileges and be sub
ject to the same conditions.
4. Running shares and children's shares
shall be issued in such manner as may
be provided by the bylaws.
). Minors may subscribe for, hold.
transfer, withdraw and surrender stock
without the authorization of their par
ents, tutors or other persons; and mar
ried women may subscribe for, hold.
transfer or surrender stock without the
consent or authorization of their hus-
bands. as provided by law.
O. Payments on running shares, INSTALL
ments and interest shall be due and paya-
BILE monthly, by the tenth of each current
month"; at the office of the society; and
all payments shall be imputed: Otto the
settlement of interest due; (2) to install.
ments on shares; go reimbursement of
moneys paid for account of sharehold.
ers; provided that this order of impu-
tati0n may be changed at the discretion |
of the Board Of Directors.
q Any borrowing shareholder failing |
to make the payments required during |
the current month, shall pay as a pen
atty therefor One Cent on each share held |
by him or her. or for each such failure |
which shall be charged against such share |
holder; provided, any shareholder thus |
IN DEFAULT may have the penalty thereon |
RENTED by paying twice the amount |
which he or she owes at the time of set
Element.
s. Shareholders of running and chill
n Ghar Ohan har-o II
withdraw from the society the full |
amount paid in, with the accumulated |
prohts thereon, as shown at the proceed |
ing dividend time, less any charges and |
written notice, which shall be registered |
by the Secretary in the order of their |
receipt; and withdrawing Shareholders |
shall be paid in rotation, as registered |
out of the first unappropriated money in
the treasury.
0. Provided: Whenever the propor-
ton Of receipts ordinarily made appli-
cable to the demands Of Withdrawing
members by resolution of the Board of
Directors is not sufficient to pay all such
demands within sixty days from date of
notice, one-half of the receipts shall
thereafter be applied to the liquidation of
the claims of Withdrawing members until
all deferred claims are paid. Any share
holder may be permitted to withdraw
part Of the accumulation to his or her
credit by reducing the number of shares
held by him or her proportionately.
10. Should there be an over accumula-
ton Of funds beyond the use of the
society. the Board shall have the right
to call In unpledged shares for redemp
tion; provided, that the full-paid shares
shall be called in first in the reverse
order of their issue, and shall be re-
deemed for face value, plus interest for
the time intervening since last dividend.
at the same rate as last dividend de-
clared; and should all full-pai shares
be redeemed, the alphabetical, juvenile.
running and children's shares may be
called In, the Oldest shares to be redeemed
first, and at their withdrawal value. plus
interest Intervening since date of last
dividend, at the same rate as the last
dividend.
IL. On the death Of a member. not
being In arrears, his or her legal rem.
resentative shall be entitled to receive in
cash the withdrawal value of the stock
at the time Of the past payment made
oy such deceased, or said representative
shall be entitled to transfer said stock
by payment Of the monthly installments:
provided. nevertheless, that the position
or the deceased member and such repre.
sentative be determined, as regards this
such death.
II. All transfers of stock shall he
made on the books of the society on |
surrender of the certificate of stock and
In the presence of the Secretary: and
transrerred must abide by the charter |
or this society.
IL. The Board of Directors shall cause
10 De ascertained on January 1st April |
ISL, July list and October LIST of each
year the earnings Of all shares for the |