The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-16
BUY
THE
BEST
CHARTER.

Loan Association. a corporation domi-
Ciilated III this city. created by an act
before John T. Michel, notary public,
dated September 10Th 1891 recorded in
the Mortgage Office of this Parish in Book
ole, folio %iN, and amended by act before
! Andrew II. Wilson. notary public dated
the 10th Of May. 1896. recorded in the
Mortgage Office of this Parish in Book JG5
folio 362. and by act before C. G.. krO-
! urnberEcr, notary public. on the 2lSt of
! February, 1895. recorded in the Mortgage
Ohic" Of this Parish I'm Book goo folio
40, and by act before G. q Kroncnbergcr
notary public, on April 2ud. 1907. record
ed in the Mortgage Onic, of this Parish
| in Book 81 folio go and by act before
| james Boyd GrinaEe. notary public on
| February 10Th. 1913 recorded in the Mort
gage Office of this Parish IN Book loss
folio "a. aud 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 36J.
Who declared, that by virtue of aud
! pursuant to the provisions of Article IN
OF the above act of incorporation, and pur-
Suant to Il resolution adopted by the stock
| holders of said association at a general
meeting called for that purpose and held
| AT It's 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
Jet 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.
lie 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.
| Mons one, two, six, ten and fifteen of
! Article Nv of the charter and sections one
and two of Article V of the charter and
| 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 "
| Section 1. The capital stock Of this
| corporation shall be five million dollars
| (S5,00O 100000 and shall hereafter be issued
| in shares of one hundred dollars, ($lOO.OO)
| each; provided that the outstanding shares
OF two hundred dollars each shall not be
affected hereby.
Section 3 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
~ or weekly installments at the rate of
at least one dollar per share per mcnth
each Additional payments may be made
at any time or in any amount at the
| Option of the shareholder. Paid Up
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
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 n similar manner
after not more than three months notice.
III 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 g. 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:
az To settlement of interest due, (2) for
reimbursement of moneys paid for ac-
count Of shareholder, 49, to installments
on shares: provided that the order of i'm
pntation 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
his certificate be refunded all dues paid
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
retary-treasurer, and numbered from
up. and the Withdrawing stockholders
paid In rotation as aforesaid; provided.
lDHl not more imam One-nalf the monthly
receipts shall ever be used for the purpose
| OF hquidsting withdrawn shares, unless
there should be an over-accumulatiOn of
funds which cannot be loaned in the usual
| manner upon real estate.
Section II. 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
"
Section I. The corporate powers of the
association shall be exercised by a board
Of directors TO consist hereafter of twenty
stockholders, each of them owning at
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 to
, 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
a 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 of
one fourth of the shareholders. stating the
time and object of such meeting, or when
ordered by the board of directors.
ARTICLE TX.
This charter can be altered amended
or modified or this corporation dissolved,
by vote of three-fourths Of the capital
stock represented at any geneShl meeting
Of the stockholders called for that pur-
, pose. after due notice mailed to each
shareholder. and the publication, ten days
! prior to said alterations. amendments.
!, notifications, the dissolution of this
! corporation, one time. in two OF the daily
i newspapers of the City Of New Orleans
: Of the notice for such meeting. And. In
case of dissolution. the stockholders at
such meeting shall elect three commits
, siOners, who shall be shareholders, who
! shall have entire charge OF such lquida-
, ton, and such commissioners shall have
authority to fill vacancies occurring In
their number.
{ Thus done ana passed, City Of New
Orleans in presence Of Edward +. Scan
Ian and Edmund +. Fourier, competent
witnesses who have signed with the par
: ties and me, notary. after reading.
(ORIGINAL SIGNED:
SIXTH DISTRICT BUILDING & LOAN
ASSN,