The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-09
CHARTER.
cu.RrER OF ITALIAN HOMESTEAD
ASSOCIATION.

hat
u.,a,y in the year one thousand, nine
sandred and twenty-five, Before me,
Tssrles v MacalusO, notary puDnc,
SnIy commissioned and sworn In and Tor
,Sa parish Of Orleans and city or New
as,.sns therein residing, and in the pres.
W. 81 the witnesses hereinafter named
"a undersigned, personally appeared the
~assons whose names are hereunto SUBJ
ss,,bed. who declared that, availing them
ssyes Of the provisions OF the law OF TINS
STATE relative to the organization OF cor
oerstions. and particularly those relative
NJ organization of homestead associa-
,ions they do by these presents covenant,
ssree hind form and constitute them
selves and those who may hereafter De-
come associated with them, into cor
poratiop for the objects and purposes fol-
iowings tO.wit:
IRTiCLE 1.-The name and title of this
corporation shall be the Italian Home
stead Association. and under the said cor
porate name II shall have power TO have
and enjey succession by the said cor
porate name for the term OF ninety nine
wears from the date hereof, unless sooner
dissolved. in the manner hereinafter pro-
yided; TO contract, sue and be sued in its
eorporate name: to make and use cor
porate seal and the same to break, alter
and amend at pleasure; to name and APP
point such managers or officers as Its IN
terest and convenience may require, the
same TO be stipulated in its bylaws; to
make and establish or to amend such by
laws for the proper management and
regulation for the affairs of this corpora
ton as may be necessary and proper; to
hold receive, lease, purchase and convey
under Its corporate name such property,
real or personal. as may be necessary for
the protection or enforcement of its Sc
eurites, the collection Of any claims or
debts due TO 1t and for its occupancy of
Office or domicile; to lend and borrow
wff kANk nd
senal; to make and establish such by
laws rules and regulations for the pro-
per conduct of the affairs of this corpora
ton as may be necessary and proper, and
the same to change and alter at pleasure;
to issue stock to members: to seize and
collect from members, fees, dues, fines,
interest, premiums and other charges as
may be set forth and determined in the
bylaws of this corporation; to permit or
force members to withdraw all or part
Of their stock; to make loans to members,
all upon such terms and conditions as
may be provided in the by laws to borrow
money and to issue its evidences of indebt-
edness therefor bearing such rate of in
terest as may be authorized in the bylaws,
aud In accordance with the general law Of
the State to lend money to stockholders
on real estate or on the shares of this
association In such manner as may be de-
termined by the bylaws; and generally to
90 and perform all acts and things as are,
or may be, requisite and necessary to
carry out the obligations and purposes
Of this corporation which is that Of a
homestead association, all OF which acts
and things this association may do as II
specifically incorporated I'm this charter.
ARTICLE 1.-THE domicile of said cor
poration shall be In the City of New Or
ieans state Of Louisiana. All citations
ssall be served on the president or in his
ABSENCE on the vice-presidents in the
order OF seniority.
ARTICLE HI-The objects and pur-
poses Of this corporation are declared to
eeto provide means for the regular safe
sno profitable Investment Of the savings
ITS members by the monthly install
ments on account Of its capital stock,
ana 70 provide for the accumulation Of a
lund from said installments paid on ac-
COUNT OF Subscriptions to said capital
capital stock or moneys derived from
ientais or from interest on loans. and TO
p.n tne said funds so accumulated from
SAID savings, or other sources, to those
member stockholders who may desire to
oorrow any part thereof upon mortgages
othef security in the City of New Or
ksns. AZ provided for in the bylaws,
hereby the borrowing member stock
holders win be enabled to build or pro-
we themselves with dwelling houses, TO
purchase building lots, or other real pro-
pefy, or to do such other things as they
my desire, the said loans so made out of
,s accumulated funds of this corpora
uon shall be loaned to the member stock
FOLDERS Of this association, but they may
employed fort that purpose moneys re-
s'en from other classes of stock as may
,ssued and hereafter designated.
AnIicLE IV-The capitar stock of this
Sc az shall be five million ($5,OO0,-
ySl collars, divided into and represent
y NIFTY thousand (50,OOO) shares OF
par value Of one hundred ($10O) dol
eacn. said stock shall be divided in
- tnree classes to be known as Current
nstahment Stock, Full Paid With
which mag be issued as may be deter.
I n.S oy the directors. The Current or
n ..s Stock shall be issued and
rsss. ior IN consecutive monthly Install
shssa hereinafter provided for. All
sssa snaii be OF the par value Of 500
es, scefn and actively operate as soon as
h.y tnousand C$50,000) dollars shall have
M sc.uaily paid into the treasury OF
'nls association in cash.
rran Paid Shares shall be paid for in
'an AZ the date Of their issue.
s,syments on Current or fnstallmeni
srS an1 interest on loans shall be due
tion. pssaole at the Office Of the associa-
"a, shs SAID installment stock being paid
NJ. ~ me rate Of twenty-five (25c) cents
rss..sk, and stockholders refusing or ne
=. ss 10 pay the instalments OF dues
h snssr py the last Of the month shall
dit,nr useu IN default and shall pay in ad-
ss,s on 70 the regular instaliment and in.
nssas : nne and premium as may be
@oed Tor In the bylaws. Instaliment
Wssrs may be converted into Full Paid
issekswaole Shares by the holder pay.
yss. me difference between the present
vhs. sno the face value of such shares OF
Ins.l,mnch shares reach their face value
f~is.S,h on stock shall be MONITOR
hsss.e out should any stakeholder (not
vs.ns Pledged his share for n loan or ad.
" isst s,use or neglect to pay his month.
month"; snts for period of five
vrsssa, me secretary shall notify him in
rrona.s' az his last given address. and
and 49, mat ne call and pay up his dues
ana INES within thirty DAYS of the notice
n mould the defauiting stockholder fail
mar make such settlement. the secretary
Smon,t MIN to call and receive the
xithnn. o. installments actually paid in
prcat !, any allowance for interest OF
Inc ~ any nature, and without deduct
err,- nnes or expenses and aftar tbs
ces.s on Of said thirty DAYS notice shall
T1s 20 pe member Of this association
mount Of instalIments maid nv snch
"a ~ shareholder shall then he Nall
6emsnS e. credit and be payable on
s(scf sna surrender Of his Certificate a,
insfss. csided that the stock NAV he 70.
a. - done within three montks an
a. 1as. OF one dollar (ST mar snsr.
WIN the amounf au~ y. 49,