The herald., 1922-03-02
BUY
THE
BEST
CHARTER.

! February, 1895. recorded in the Mortgage
/ Onicc of this Parish IN Book 600 folio
| i19. and by act before q. g. Kroucuh-rgcr,
! notary public. on April End. 1907. record
! ed In the Mortgage Ofliyr Of this Parish
/ in Book So, folio go and by act before
| James Boyd Grinagc. notary public. on
! February 10th. 1913 recorded in the Mort
| gage Office of this Parish IN Book lG>S,
! folio %. and by act before Louis L. Alba,
| notary public, on tn" 18th of March. 1916,
| recorded in the Mortgage Onirn of this
| Parish in Book 1875. folio $50.
| Who declared that by virtue Of and
pursuant to the provisions of Article IN
/ of the above act of incorporation, and pur-
! >uant to a resolution adopted by the stock
! holders of said association at general
meeting called for that purpose and held
at its domicile i'll New Orleans on Jan
| uary 23rd. 1922. the whole agreeably TO
/ said Article IN of the charter, authorz-
I 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 V
| 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
| 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 l. The capital stock of this
| corporation shall be five million dollars
| tS5OO0O00O0) and shall hereafter be issued
| IN shares of one hundred dollars, tSl00.O0J
each: provided that the outstanding shares
! of two hundred dollars each shall not be
affected hereby.
Section ?, The shares of this corpora
tion may be of two kinds, Running
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
| at any time or i'm any amount at the
| 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 8. 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, 90 to installments
on shares; provided that the order of i'm
putation may be changed at the discretion
of the board of directors.
Section 10. 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 1
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
| of Hquidating withdrawn shares. unless
| there should be an over accumulation OF
funds which cannot be loaned in the usual
manner upon real estate.
| Section ID. 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
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 ia
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-
cared 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 wheI
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 general meeting
. of the stockholders called for that pur
pose after due notice mailed to eacf
shareholder, and the publication, ten days
prior to said alterations. amendments
notifications, or the dissolution Of thi'
corporation, one time. in two of the daily
newspapers OF the City of New Orleans
Of the notice for such meeting. And, IN
, case of dissolution. the stockholders a
such meeting shall elect three commits
sioners, who shall be shareholders, WHIT
shall have entire charge Of such liquida
ton and such commissioners shall have
authority to fill vacancies occurring IL
their number.
Thus done ana passed, City Of New
Orleans in presence of Edward F. 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,
JOHN E. KING.
President
witnesses: Ed F. Seaman, f. p. Four
nier.
LOUIS r. ALBA.
Notary Public