The herald., 1922-04-27
CHARTER OF
REALTY DEVELOPMENT CO., INC.

CHARTER OF
REALTY DEVELOPMENT CO., INC.
United States of America, State o
| Louisiana, Parish of Orleans, City o
New Orleans. BE it known that on tn
10th day of the month of March, in tn
year of our Lord. one thousand nine hun
bred and twenty-five. and of the indie
pendence of the United States of America
the one hundred and forty sixth, befor
me. WILLIAM J. GUSTE. a Notary Pub
| lie, duly commissioned and qualified, ii
and for the above parish and state, there
| in residing, and in the presence of thu
| witnesses hereinafter named and under
| signed, personally came and appeared
the several parties whose names are here
unto subscribed, who severally declared
| that availng themselves of the laws OF
! the State of Louisiana, in such cases
made and provided, and more particu-
| larry of Act 265 of the General Assembly
of the State of Louisiana of 1914, and
! the acts amendatOry there6I, relating to
| the creation, organization and formation
| of corporations, they have cOvenanted
| and agreed, and by these presents do
hereby covenant, agree and bind them
| selves, as well as other persons who
may hereafter become associated with
them, to form a corporation, for the
objects and purposes under the articles
and stipulations following, which they
hereby adopt as their charter, to-wit:
ARTICLE l. The name and title Of
this corporation shall be REALTY DE-
VELOPMENT CO.. INC, and under its
corporate name 1t shall have power and
authority to have and enjoy corporate
existence for period of ninety nine
years from date hereof, unless sooner
dissolved by liquidation or otherwise; it
shall have power to contract, to sue and
be sued; to make and use a corporate
seal and TO alter and break the same
at pleasure; to hold, receive, lease. pur-
chase, transfer, assign, mortgage, hypOth-
ecate, pledge or otherwise dispose Of
property, real, personal or mixed, cor
pOreal or incorporeal; to issue bonds
and other evidences of Indebtedness, and
If desired to secure the same by mort
gage, pledge or otherwise; to buy. hold
and reissue shares of its own capital
stock; to hold stock in other companies;
to name, elect and appoint officers, direc
tors. managers, agents and employees; to
make and establish alter and amend
laws, rules and regulations for it's proper
government, as may be deemed necessary
and proper for the extension of the bust
ness in which the corporation is engaged.
ARTICLE H. The dOmicile of this
corporation shall be in the City of New
Orleans, Parish of Orleans. State OF
Louisiana. Citation and all other legal
process shall be served on the President,
and, in his absence, on the Vice President,
the Secretary or Treasurer, or the Secre-
combined in one person.
ARTICLE III. The objects and pur-
poses for which this corporation is estab-
lished and the nature of the business to
be carried on by it are declared to be
as follows:
To purchase, acquire, hold, own, use,
mortgage. pledge, or otherwise handle or
deal in real and personal property of
any nature whatsoever, together with
the rights, ways and privileges and servi
tudes thereunto appertaining, or in any
wise belonging; TO improve or enhance
buildings and improvements of all kinds
to lease, rent, mortgage, pledge, sell.
convey and ALLEVIATE any and all such
real or personal; to act as
agent or broker. and generally to con-
duct and carry on such other business
as may be found necessary or convenient
for properly fulfilling the aforesaid pur-
poses or enhancing the value of the
property, rights and privileges of said
ARTICLE ~. The capital stock of
this corporation is hereby fixed at the |
sum of Three Hundred Thousand Dol |
lars 3O0,000OO), and shall be divided |
into and represented by three thousand |
shares of the par value of 500 each.
The said stock shall be paid for in |
cash or its equivalent, as provided by |
law. and in such manner and at such /
times and in such installments as may
De prescribed by the Board of Directors. |
This corporation shall become a going |
concern and shall be authorized to COM
nence business as soon as fifty (5O) per
,ent of its capital stock shall have been
subscribed, and fifty (5O) per cent OF
Ill stock subscribed for shall in fact have
been paid for, either in cash or its equiv
ilent.
ARTICLE V. The capital stock of this
corporation may be increased to the sum
# Five Hundred Thousand Dollars $780,
ID. 1T I'd Of oil |
ne stock present or represented at a
special meeting called for that purpose.
'r at regular annual meeting of the
corporation.
ARTICLE vi. No transfer of stock
hall be binding upon the corporation
nless recorded upon it's books, nor shall
my stakeholder have the right to sell
my or the shares held by him without
aving first offered the same to the stock
folders of record, in proportion to their
loIdings' through the Board of Direc-
ors, at the book value of the stock at
he closing Of the last fiscal year; or
he said offer shall be made in writing,
nd the stockholders shall have the right
Ilthin a period of thirty days after the
ner to sell has been received by the
Soard OF Directors, to purchase the
hares so offered, for cash, at such value.
Mould the shareholders not desire to
urchase the said stock, the corporation
nay purchase the same at that value
or cash, and such stock thus ACQUIRED
T any stock of the corporation which
may buy or otherwise acquire NAV
e held, reissued or sold by the Board
I Directors at such price as the Board
Directors, in its discretion. may de-
ermine proper.
The certificates Of stock shall have
'ritten or stamped upon them a refer
nee to the provisions Of this article Of
he charter.
By the consent Of two-thirds of the
irectors, at regular or special meet
lg called for that purpose, and without
ne necessity for any amendment to the
harter, the necessity for writing or ,
'amping such inscription upon the stock {
ertffcates may be dispensed with, or ,
he certificates containing such inscrip-
on may be called In and new certificates
ithout the inscription may be issued j
their stead, and similar change from {
ne class Of certificates to the other may !
made from time to time, in the man G
er above provided. :
ARTICLE VII. The corporate powers q
this corporation shall be vested in /
nd exercised by board Of not less than I
lree nor more than five directors. Should s
IS than five be elected at an annual {
ection, the stockholders may at any T
me, by majority vote at a special a
Getting, elect such additional director a
directors, not to exceed a total Of five a
rectors. Two directors shall constitute C
quorum Tor the transaction Of business C
lould there be three directors; and 4
rec directors shall constitute a quorum II
r the transaction of business, in the I,
ent that there be more than three
rQ0fnrC hn "a |