The herald. [volume] (New Orleans, La.) 1905-1953, 1922-02-23
BUY
THE
BEST
CHARTER.

7
the 18th of May. 1856 recorded in the
Mortgage urice of this Parish in Book so
/ 'ull" 3t2. and 10y act before g. g. hro-
ucHberger. notary public. on the 2lst of
/ February, lNgN. recorded in the Mortgage
/ Office Of this Parish in Book 600. folio
/ 40. and by act before G. G. kronenberger
/ notary public. on April 2nd. 1907 record
! ed in the Mortgage Ohice of this Parish
| IN Book 80, folio go. and by act before
| James Eoyd Grinage, notary public. on
! February 10th. 1913, recorded in the Mort
! gage Office Of this Parish in Book JOSS.
folio %, and by act before Louis L. Alba.
notary public, on the 18th of March. 1916.
| recorded in the Mortgage Ofice of this
| Parish in Book 1875, folio 800.
| Who declared, that by virtue of and
pursuant to the provisions of Article IN
| Of the above act Of Incorporation, and pur-
suant to a resolution adopted by the stock
holders of said association at general
meeting called for that purpose and held
ut its 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
jcct 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 10y duly certified copy Of said
i 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 1. The capital stock of this
corporation shall be five million dollars
$4,000 100000 and shall hereafter be issued
In =la,arA Ef AnIN.
each: provided that the outstanding shares
Of two hundred dollars each shall not be
affected hereby.
Section 2; The shares of this corpora
Shares and paid Up Shares; Run
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 in 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
L withdrawal OF running shares as con-
tanned in Section 10 Of this article.
Section 9. Payments on Running
= be due and payable in monthly or weekly
!. installments ut the office of the associa-
! ton. and all payments shall be imputed:
: a. To settlement Of interest due, (2) for
: reimbursement Of moneys paid for ac-
! count of shareholder, 90 to installments
o on shares: provided that the order of i'm
putation may be changed at the discretion
of the board of directors.
- Section TO- Holders of running shares
y not being in arrears may withdraw from
. this association by giving to the president
~ thereof one months notice in writing OF
II 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
rotary 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
P of liquidating withdrawn shares. unless
v there should be an. over accumulation OF
o funds which cannot be loaned in the usual
Nv manner upon real estate.
" Section II. The dividends declared on
s. Running Stock" shall be credited on the
4 pass books of the members annually, and
" the interest on paid Up Stock" shall be
ic paid in dividend checks on or after the
n. First of January and july of each year.
Of ARTICLE
L Section 1. The corporate powers of the
n, association shall be exercised by board
IN of directors to consist hereafter of twenty
nj stockholders. each of them owning at
e least five shares in his own name, who
In shall be elected by the stockholders on
In the fourth Monday in January, of each
e. and every year. Any stoekholder ceasing
OF TO own five shares shall. ipso facto, va
In cate his seat on the board: :,
er Section 2 Notice Of said election shall
e. be given ten days prior to the annual
ne meeting by publication one time in two oil
G., the daily newspapers Of the City Of New
at Orleans, and by written or printed no
r tees mailed or delivered personally tc
by stockholders Of this association by the
ne secretary. Said elections shall be by bal.
to lot and shall be held at the domicile OF
Id this CORPORATION, under the supervision OF
n three shareholders appointed by the board
of directors at the last preceding regular
of meeting thereof. who are not candidate,
nd for election. The shareholders receiving
ed majority OF the votes cast shall be de
o. cared elected.
TO ARTICLE VII.
~ Special meeting OF tie shareholders shall
co be convened at the request in writing o
III one-fourth of the shareholders, stating th'
time and object of such meeting, or wheI
ne ordered by the board Of directors.
.a ARTICLE TX.
W This charter can be altered. amended
N. or modified, or this corporation dissolved
he | by a vote Of three fourths Of the capita
n stock represented at any general meetin,
he Of the stockholders called for that pur
,nS | pose after due notice mailed to eacl
"a shareholder and the publication, ten day
as | prior to said alterations. amendments
he | notifications, or the dissolution or thi
;aJ corporation, one time. In two OF the dali.
,ai newspapers Of the City Of New Orleans
IN. of the notice for such meeting. And. II
mo case Of dissolution. the stockholders a
such meeting shall elect three commits
an sioners, who shall be shareholders, wh
nd shall have entire charge OF such liquida
~. ton, and such commissioners shall hay
tel authority to fill vacancies occurring !
no their number.
Up Thus done ana passed, City of NeN
Of Orleans in presence Of Edward +. Scan
Ian and Edmund p. Bournier, competen
witnesses who have signed with the par
!. ties and me, notary. after reading.
ar (ORIGINAL SIGNED):
SIXTH DISTRICT BUILDING & L0Al
ic JOHN z. KING.
-, Presiden
ms. witnesses: Ed. F. Seaman. E. p. -Four
nat nier.
20 LOUIS r. ALBA.
ras Notary Publ
Sn tba updarsiopad Recorder of Nor