Le Louisianais. [volume] (Convent, La.) 1865-1883, 1869-09-18
ARTICLE II.

and temporarily in need of funds, for the support
of themselves aud families, aud also aid the mer.
camille community in business, il shall have
and authorization to receive deposits
{, ON all persons, all sums of money, from one
upward, aud pay ont The same by
or Otherwise, for which sums OF money
interest shall be allowed IN accordance with
the provisions of this &C. and the bylaws OF
His corporation provided. that nothing con.
tanned in This ac, shall be construed I" allow
the deposit Of any article except by the consent
of The actual owners Of such attiC hes ar money.
or to p,even, The recovery from said Savings
and Pawner,' Bank Of any article which may
have been stolen or frandu|ently obtained hy
The deposi,ots from the owners thereof,
SEC. .. Be il further enacted, ETC, That
it shall have power to make and enter into all
manner of contracts and agreements for the
pledge of, and TO receive in pledge, movable
property, TO make, execute, issue and receive
certificates of pledge Of any kind and nature
whatsoever, for the pledge Of movable pro-
pst,y, and to ito and perform generally every
act and thing to the business Of Ioaning money
on security Of pawn OF pledge belonging or in
anywiss pertaining 10 the same.
ARTICLE III.
SECTION. l, BE- il further enacted, etc, That
all citations, notices, whatsoever shall be served
upon the president or manager.
ARTICLE ".
SECTION. 1. BE il fn.lher enacted, etc. That
the capital stock Of this bank shall be one hun.
Ired thousand dollars, divided into one thou
sand shares OF one hunlfed dollars each, which
capital stock may be increased five hundred
thousand dollars by two tllrd votes q all The
slockhnlders. in general assembly convened j,
may begin business as soon rs fifty thousand
dollars has been subscribed the ibers 10
| The stock shall pay into the hands Of the CASHIER
the sum OF ten dollars on each and every share
subscribed by them upon The organization for
business. and the balance in Ins,ailmenis no:
exceeding ten dollars each, after fifteen days
notice from the board Of directors, who are
cashier.
AETtcLEv y.
SEcTios ! Be ii farther enacted etc,, Tia.
ali prwrr> 60 roratc Of This hank Shall be vested
in a hn,,d Of d,1eclors 10 be composed Of five
stock oIders, from among which they shall
elect their president and cashier; said board
shalt be elected on The fl, Monday Of Decem.
Der ncA, and eve,y year thereafter, in general
meeting Of all slorkho!lc,s convened between
such hours AS may be designated by the board
Of directors, IN case Of death or resignation OF
any member OF said board, the vacancy shall
be filled by the board Of directors in which
shall be eligible 10 "A dlfecioIsIup unless at The
time of his election and durin. his continuance
Of office he Shall own IN his own name or IN
that Of a commercial fun, in which he forms
pall lheteol, al least len shares OF the capital
stuck Of the bank One montll'- notice shall be
given before the election takes place, and The
president. in conluncl on with the cashier,
>loali appoint three competent persons tom
among the stockholders, not directors or off
| ce,s. for the purpose Of conducting and manag.
ttr Inc election ai tHe pDhiH, tHpsc tf's''f"S
a majority Of all votes cast shall be declared
duly elected, and take their seats Oh the second
| Monday after HE election. In case o! no cleo
ton on the ,lay Il Sed, III. preslden, shasl cause
after, after due notice. The following PERSONS
are hereby declared 10 be The frs, board Of
directors r. NJ Montgomery, d |" Shearer,
B. J.. Montgomery, William Saunders, James
T. Summers. who shalt, Immediately ate
or yaniza,inn, elecI iheit president aud cashier,
! appoint, all officers, clerks and employees Of
this bank, adopt the by laws, rules and regnia.
lions, AMI do and perform all acts necessary
to carry into full eff {, the workings and object
Of this bank; provided, tina, noltiug in The by
laws shall %co"flic, with the laws Of this State,
or the true in,sn, and meaning Of this act.
ARTICLE VI.
SECTION /. b. i. further enacted, ETC, Tha'
i, shalt be the duty oil the board OF directors
10 regulate, from time TO time, the rate o.
interest TO BE- allowed deposl,ors, so tina, they
shall receive, as nearly as can be computed
u lar iate, ana 'lat 'heS W. ''c'tpl ahliiti'L cu
should the condition of this back at any tint
render il eXpedien,, TO discriminate the ate o
irteres, to be allowed deposi,nrs, and to reduce
the rate TO be allowed IN al cases where ,he
amount deposited shall exceed the sun Of one
Thousand dollars, the objec, Of the pfesen
Incorporation being 10 give the greatest pos
sibIe premium on the savings Of tn" poor an,
hard working classes OF This community.
SEC. 2. BE il further enacted, ETC., Tha
The bank shall be a authorized TO hold at in,eIes
subjec, 10 the rate provided by the bylaw
any ,sns, fund or mony belonging 10 m,no,
or oihsr parties as shall by or under an,
dec rec Of any court within the State be ordere,
to be deposited therein.
, ARTICLE VII. s
SEcTIoS l. BE il further enacted, etc, Tia
all loans shall be on a fixed time, and no, owe
one year. the pawner shall have a right q
redeem'ng This property a, any time with
The specified pc iod ix.d, on The payment q