The herald. [volume] (New Orleans, La.) 1905-1953, 1922-08-10
CHARTER.

| the regulation and government of its
affairs, and the manner OF certificatlon
| and registration of it's stock. 1t may
wind up and dissolve itself, or be wound
up and dissolved in the manner pre-
scribed by law. 1t may conduct bust
ness in this State, or other states thI
| Possessions of the United States, and In
any foreign country. 1t shall have power
| to invest its Board of Directors with all
| its corporate powers, subject to such re-
| strictiOns as may be named in this char
| ter. And il generally shall possess all
| the powers, rights, privileges and I'M
muhitics which corporations are and may
hereafter be authorized to possess under
and particularly under Act Number 26i
of the General Assembly of 1914, and all
! laws amendatory thereof.
| ARTICLE 1.-THE domicile of this cor
poration shall be in the City OF New Or
! leans, Parish of Orleans, State of LOuisi-
ana and all citations and other legal pro-
cess shall be served upon the president,
and in case of his absence, upon the vice
president, or i'll the absence OF both Oh
these officers, upon the secretary of this
corporation.
ARTICLE III-The object and purposes
for which this corporation is formed and
the nature of the business to be carried
on by it are hereby declared to be:
To buy, sell, deal in, lease, hold or i'm
prove real estate, and the fixtures and
personal property incidental thereto, or
connected Herewith. and, with that end
in view, to acquire by purchase, lease,
hire or otherwise, lands, tenements, heri-
ditaments, or any interest therein, and
TO improve the same, and generally to
hold, manage, deal in and improve the
property of the company, and to sell
lease, mortgage, pledge or otherwise dis
pose OF the lands, tenements, heredlta-
ments, or other property of the company ;
TO construct, erect, equip, repair and I'M
prove houses, buildings, public or private
oil fra m raj
voirs, irrigation and drainage bitches,
wharves, sewers, tunnels, cOnduits; to
make, enter into, perform and carry out
contracts for the construction, altering,
decorating, maintaining, furnishing and
fitting up and improving buildings of
every sort and kind; to advance money to
and enter into contracts and arrange
ments of all kinds with builders, prop
erty owners, and others, to carry on in all
their respective the business of builders,
contractors, decorators, dealers in stone,
brick and timber, lumber, hardware and
other building material or requisites.
ARTICLE Iv-The authorized capital
stock OF this corporation Is hereby de-
clared to be the sum of Ten Thousand
Dollars, $50 00000), which capital stock
may be increased in the manner provided
by law to the sum of one hundred th0us-
and dollars, (s1OO,OOO0W. The pre- ,ently
authorized capital stock of this corpora
ton shall be represented by one hundred
shares of the par value of one hundred
dollars, (Sl0O.OO), each. The said capital
stock shall be represented by certificates
and shall be personal property. No trans
fer of said capital stock shall be binding
upon this corporation unless made in ac-
cordance with its charter and bylaws al
recorded on the books thereof.
ARTICLE V-The capital stock Of this
corporation shall be fully paid and non
assessable when issued, and shall be is
sued only for labor done services rem
dered or for property actually received,
mr. for ash ta at N.ah i'm. and
in such amounts and after such notices
as may be determined by the Board of
Directors.
ARTICLE vI-The powers Of this cor
poration shall be vested in and exercised
by Board of Directors of not more than
seven. and not less than three directors,
each OF whom shall hold in his own name
at least one share of stock. Said Board
Of Directors shall be elected annually on
the first of July of each year; the first
election TO be held in 1923. Ali such cleo
lions shall be by ballot at the office of the
corporation, under the supervision of two
commissioners to be appointed by the
Board of Directors, and in the absence of
any commissioners, the president shall
have the power to fill the place by ap-
pOintment, and all such elections. as we'll
as all Of the meetings of stockholders,
except for the purpose of liquidation or
dissolution. or otherwise required by
law. ten days notice shall be given by
mailing to each stakeholder who appears
as such on the books of the corporation,
at his last designated address or at the
general delivery of New Orleans, if he
has not designated an address, an an
nouncement stating the time and place
of the meeting. Each shareholder shall
be entitled to one vote for each share of
stock standing in his name on the books
of the corporation, to be cast in person
or by proxy, and majority Of the votes
cast shall elect. The Board of Directors
shall have power to fill all vacancies that
may occur in the Board. Failure to elect
directors on the day above specified shall
not dissolve the corporation, but the di-
rectors then in office shall remain in
office until their successors are elected
and qualified. Due notice of another cleo
ton shall forthwith be given, as above
provided. Such notice Of election shall be
continued to be given until an election is
held. The Board of Directors at their
first meeting shall elect from their num-
Der a president, vice-president. a sec
rotary and treasurer, and such other
officers as the Board of Directors shall
deem necessary. The Board of Directors
shall have power, in its discretion, to
unite two or more offices, and the same
to confer on one person, and shall have
power to fix the salaries of all officers, |
and all such other officers and employees
as they deem necessary. The Board OF
Directors shall have power to make and
establish, as we'll as alter and amend, |
all bylaws, rules and regulations neces- |
sary and proper for the support and man
agement of the business and affairs of the !
not inconsistent with its
charter. Said Board shall also have full
power and authority to borrow money. |
and through the president or some duly |
authorized agent or agents, to execute |
mortgages, issue notes, bonds, or such |
other obligations, in such amounts and |
on such terms as in their judgment may |
be advantageous; and. generally to do all !
things reasonably necessary for the prop |
er carrying on of the business of this |
and also to issue and deliver |
full paid shares of stock and bonds or |
obligations of this corporation, in pay |
ment of money borrowed or money labor |
and services, and property or rights ac-
tually received, by this corporation, as |
heretofore set forth: and shall have power |
to do and perform all such acts and |
things that may be necessary to carry I
out the objects and purposes for which |
this corporation is organized.
n majority Of the Board of Directors |
snail constitute a quorum for the trans
action Of any business. At any meeting |
Df the Board any director absent from the |
meeting may be represented by any other |
director, who may cast the vote Of said |
absent director according to the written
Instructions of said absent director. The
Board OF Directors shall have the power |
BY vote OF not less than a majority there
d, 10 sell, lease. mortgage, by bond-mort-
gage or otherwise, or to pledge any and
al the property, movable or immovable
belonging to the corporation, or to re-
'e1ve in exchange thereof, money or
stock, or bonds, or other obligations of
ihother corporation without referring to
ne stockholders for the power to do so
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