The herald., 1922-06-29
CHARTER.
CHARTER OF MODERN HOMES. IN
CORPORATED.

CHARTER OF MODERN HOMES. IN
CORPORATED.
J-nited States of America. State of Louis
lana Parish Of Orleans. city OF New VT
leans BE IL known, That on this seven
tenth day of June, in the year OF our
Lord one thousand. nine hundred and
twenty two, and of the Independence OF
the United States of America, the one
hundred and fOrty-sixth, before me
Stanley McDermott. notary p9one, III IN
Louisiana. duly commissioned and quar-
fed and in the presence of the witnesses
hereinafter named and undersigned, per
sonally came and appeared the persons
whose names are hereuntO subscribed, all
above the full age Of majority VINO He
clared. that availing themselves or the
laws Of the State OF Louisiana, partlcu
larly Act 267 Of 1914. relative 10 the Or
vanization Of corporations. they do, by
these presents. agree and bind themse selves.
as well as such other persons as may mere
after become associated with them, 10
form and constitute a corporation for the
objects and purposes and under the ar
ticles and stipulations following, to-wt:
ARTICLE THE name and title Of this
corporation shall be Modern Homes In,
corporated, and, under that name, IL shall
have and enjoy all the rights, auSan.as .e
and privileges granted by law to corpora
tions and shall exist for the full term
and period Of ninety nine years from uale
hereof. 1t shall have power and authority
use a corporate seal, and the same TO AFTER
OF break at pleasure; to hold, receive,
lease, purchase, sell and convey, as wen as
to mortgage, hypothecate and pledge pro,
perty, real personal and mixed, corporeal
and incororeaI; to have and appoint such
managers, directors, officers, agents ana
other employees as its interests ana con
venience may require, ana TO maze anu
from time to time such bylaws. rules
and regulations as may be necessary anu anu
expedient for the proper management. anu
government Of the affairs OF SAID corpoia-
ton.
ARTICLE 1.-THE domicile of this cor
marathon shall be in the City of New Ut
leans, State of Louisiana, ana all clta ,
tions or other legal process shall De serNeu
upon Its president, or, IN MS aosen'e
upon its secretary-treasurer.
ARTICLE IU-The objects and pur'
noses for which this corporation Is OF
ganized and the nature OF the business =.
he carried on by Ii are hereby ueclareu y
be: To rent. deal In, PuIcnas Ss auau' Of
mortgage and hypothecate lands ana req
property of every kind and class; TO sup
divide, develop. manage ana Improve w
same; to construct, erect alter ana repair
houses and buildings. and to buy and sci
ali kinds of materials used by builders
and generally to do a general req. es.a =
business in all its details for ITSELF OF a
agent for others, with full power TO lssu
honds debentures notes or other obll ga
tions Of the company, from time 70 tlm
for any Of the objects or purposes oI W.
company, and to secure the same oy lnuI
gage pledge deed of trust or OTHERWISE
and to loan and invest money, secured
unsecured; to purchase. hold ana re-lssu
the shares Of its capital stock III the man
ner and to the extent permitted o oS "a !;
laws OF the State of Louisiana, ana !
Ceheral, to do anything necessary me me
dental or connected with the said oD1ect
and purposes, as well as to exercise a
rights and powers conferred on corpord
tions by Act 261 OF 1914.
ARTICLE Iy-The capital stock Of thi
corporation Is hereby fixed at one milho
dollars. $1,000, OOOO0). to be divided I'M mi
and represented by forty thousand. (4O
OOO), shares of the par value or twenty
five dollars, ($25 OO), each to be paid fO
q. in cash at such time and manner as ma
DE determined by the board OF director
Dr which may be issued at not less ina
par value for services rendered or fo
property or rights received by or assigne
to the corporation.
This corporation shall become goin
concern and shall be authorized 10 con
mence business as soon as fifty. (oO), pc
cent Of its capital stock shall have bee
subscribed. and fifty, (50) per cent
all stock subscribed for shall in fact ha'
been paid for, either in cash, by service
rendered or by property or rights receive
by or assigned to the corporation.
The capital stock of this corporatio
may be Increased to a sum not cxceedin
two million dollars, iS2,OOO,OOO.OO).
ARTICLE v-All the corporate power
Of this corporation shall be exercised 0
n board of directors of not less than thr'
nor more than eleven stoekholders' III
jority of whom shall constitute duoru
for the transaction OF business. The d
rectors may vote in person or by VIII
ten proxy in favor Of another directo
The board of directors shall elect annual
from among their number a president
yice-president and a secretary treasurer
The first board Of directors shall col
sist Of Edward J. Tonguis, John X. Ree
and Henry Il. Reese. whose present a.
dresses are set opposite their respecti'
names to the subscription to the capt.
stock Of the corporation, with the sa
Edward ]. Tonguis as president. Hem
B. Reese as vice-president. and John J
Reese as secretary treasure r These asssS a
rectors shall serve until their successor
have been duly elected and qualified.
The annual meeting Of the stockholdel
for the election Of directors shall be hel
on the second Thursday OF June In eac
wear. unless said day be a legal holida
then on the next bank day thereafte
tors by death. resignation or otherwis
shall be filled by election for the une'
pired term by the remaining directors.
Each subscriber hereto sets after h
name, his post office address and a stat
ment Of the number Of shares Of stock
the corporation which he agrees to tax
At all elections every stakeholder sha
be entitled to one vote for each share
stock outstanding In his name on u
books Of the corporation to be cast In pc
son or by written proxy. A majority
votes cast shall elect.
ARTICLE Win the event Of the hqu
dation or dissolution Of this corporat,o
the stockholders shall elect three liquids
tors from among their number. ut a NEE
ing convened for that purpose. after III
teen, (15), days written notice sent
each stakeholder, by mail, to his la
known address; said huquidators sha
have the authority to wind mp the bus
ness and affairs Of this corporation.
case of the death Of q liQuidat0r, the su