The herald. [volume] (New Orleans, La.) 1905-1953, 1922-07-27
CHARTER.

4
and Henry B. Reese. whose present ad
| dresses are set opposite their respective
names to the subscription to the capita
| stock of the corporation, with the SAID
| Edward J. Tonguis as president. Henr,
| II. Reese, as vice president. and John X
| Reese as secretary treasurer. These di
! rectOrs shall serve until their successors
have been duly elected and qualified.
| The annual meeting Of the stockholders
| for the election of directors shall he held
| on the second Thursday Of June in each
| year, unless said day be a legal holiday
| then on the next bank day thereafter
| Any vacancy occurring among the direc'
| tors by death, resignation or otherwise
| shall he filed by election for the unex-
| pired term by the remaining directors.
Each subscriber hereto sets after his
name, his post office address and state
| ment of the number of shares Of stock In
| the corporation which he agrees TO take
At all elections every stakeholder shall
be entitled to one vote for each share OF
stock outstanding in his name on the
books Of the corporation to be cast in per
son or by written proxy. A majority OF
votes cast shall elect.
ARTICLE Win the event OF the lidui-
datiOn or dissolution of this CORPORATION,
the stockholders shall elect three liquda-
tors from among their number. at a meet
ing convened for that purpose. after fif-
teen, (15). days written notice sent 10
each stOckhOlder, by mail, to his last
have the authority to wind up the bust
ness and affairs OF this corporation. In
case of the death of a liquidator. the sur
vivors shall appoint stakeholder as sue
cessor to him.
ARTICLE VII-Th,s charter may be
modified. changed or altered. Or said
corporation may be dissolved. with the
assent of the stockholders owning two
thirds of the entire capital stock. at a
general meeting Of the stockholders con-
Npnp6
days written notice shall have been given
to each stakeholder. mailed to him at his
last known address.
ARTICLE VIII-The shares of stock
shall be transferable only on the books
of the corporation and no transfer of
stock shall be binding or have any effect
upon the corporation unless and until
made upon its books.
No subscriber for stock shall ever be
held liable for the contracts, faults or
debts of said corporation in any further
sum than the unpaid balance. IL any. due
the corporation on the stock for which
he has subscribed: nor shall any stock
holder ever be held liable for such con-
tracts, faults or debts in any further sum
than the unpaid balance If any. on the
stock owned by him; nor shall any mere
infOrmality in organization have the ef
feet of rendering this charter null. or
rendering any subscriber liable beyond
the unpaid amount, IL any, remaining on
his stock.
No stakeholder in this corporation shall
have the right to sell the stock of this cor
pOraticn owned by him without first Of
fering the same, in writing through the
board of directors, to the other stock
holders at its book value at the close of
the last fiscal year. and the stockholders
shall have the right within fifteen, u5),
days after the offer to sell has been re-
ceived by the board Of directors to pur-
chase the stock so offered. Should the
stockholders not desire to purchase the
stock offered for sale, the corporation may
purchase the same for cash, and any stock
thus acquired and any stock Of the cor
pOration which il may buy or 9th arwiSe
acquire may be held. re-issued or sold by
the board Of directors at such price as the
board of directors, in its discretion, may
determine proper.
ARTICLE IX-This corporation is or
ganized under the laws OF the State OF
Louisiana. and especially Act 267 of 1914.
and the subscribers hereto. for them
selves and for said corporation and for
its officers. directors and stockholders.
hereby accent. as part OF this charter.
and as conditions Of this corporation. all
the rights. powers. privileges and i'm
munities granted to corporations. and
granted to and conferred upon officers,
directors and stockholders of corporations
by said laws and said act: such accept
as IL said rights, powers, privileges and
immunities were set forth at length in
this instrument.
Thus done and passed in my office in
the City of New Orleans. aforesaid. in
the presence of Leah Simerick and Joseph
F. Gcgarty, competent witnesses of lawful
age and residing in this city. who here
unto subscribe their names, together with
the said appearers and me. notary, on the
day and date set forth in the caption
hereof, after due reading of the whole.
Witnesses: Joseph F. Gogarty, Leah
SimeriCk.
ORIGINAL SIGNED:
Edward J. Tonguis. 1925 Coliseum
Street. l share: Henry Il. Reese. 344
Lowerline Street. I share: John 3. Reese.
344 Lowreline Street, l share.
STANLEY McDERMOTT,
(SeaD: Notary Public.
hereby certify that the above and fore
going is a true and correct copy Of the
Act of Incorporation of the Modern
Homes, Incorporated. passed before me
on the 18th day of June. 1922. and which
Is now on file and of record In my no
STANLEY McDERMoTT.
(SeaD: Notary Public.
/. the undersigned. Recorder of Mort
cages, in and for the Parish of Orleans.
State OF Louisiana, do hereby certify that
the above and foregoing Act of Incorpora-
tion of the Modern Homes. Incorporated.
was duly recorded this day in my office
in Book 1868, folio -.
New Orleans. La, June :. 1922.
(Signed): ROBT. SCOTT,
Deputy Recorder.