New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-04-10

Of money from one dollar upward, and to
pay ont the same by check or otherwise.
without the authorization of the parent or
tutor of minors, or the husband OF the mar.
ried woman, for which money SO deposited
| flor savings) interest shall be allowed as
hereinafter set forth and for all moneys
| thus deposited special and seperate BOOKS
| and accounts shall be kept, and the invest
| ment of these funds shall b. strictly limited
to the purchases of the public debt OF the
United States, of the State of Louisiana or
of the city Of New Orleans, contracted by
the Legislature Of this State, and to loans
upon pledge of such securities, or OF the
paper ofany parishin the State or the towns.
of Opelousas- and Washington, duly issued
by the proper authorities, and to loans
| secured by mortgage on unlncumbered and
| improved real estate within the limits Of
| such parishes as the Board of Directors shall
| determine.
Art. XI. The Board of Directors shall
| regulate, from time to time, the rate OF in
| terest to be allowed to such depositors re-
ferred to in the preceding article.
| Art. XII. The Board of Directors shall,
| twice in each year, If the profits Of the bank
Justify it, after paying all the expenses OF the
corporation, declare and pay such amount
of dividends SIS they may deem proper, and
| give notice of such dividends in one or
more newspapers inthe parish OF st. Landry.
Art xiii. Books for the registry and
| transfer of shares Ct the capital stock shall
! be opened, and al transfer of shares shall
be made Oh said books and signed by the
shareholder or his attorney, and which
books the directors may close, but not for 3
longer period ttan five days at
time, as often as convenience or
expedienoy may require the dl-
rectors may also delegate to their agents,
officers, or committees of their own body
such powers as they may think proper or
| expedient. No transfer of stock shall be
valid until it is ente.ed on the transfer book.
| 43rt. XIV. No certificate OF stock shall be
| issued until the full mount be paid thereon.
| art. I,V. Al all meetings for the election
| of directors or other purposes, each share
| holder shall be emitted, directly or by proxy,
| to one vote on eact share OF stock he'd by
him, provided the person or persons Offering
| to vote shall have owned his share or shares
! TOR three months pIior to the day OF voting,
and provided that 10 individual or corpora
ton shall be entitled to d greater number OF
| votes than fifty.
-zrs. WI No two partners shall be eligi-
| BILE, at the same time, as directors OF tie
| institution. nor shall a director Of any other
bank or his partner be a director in this
| bank.
Art. XVII. Minutes of ali the proceed
| jngs of the Board OF Directors shall be kept
by the cashier, and verified by the presi-
dent: and the president and cashier shall
sign all notes, certificates OF stock and evil
dences of debt of the corporation, and
copy of the minutes Of any or ali the pro-
ceedings Of the Board of Directors. certi-
fed by the cashier or president under the
seal OF the bank, shall be received il evil
dence, and have the effect OF the original III
all the courts in this State.
Art. XVIII. The Board Of Directors may
accept Professionally any power or privilege
conferred On this bank by any amendmen.
of the law under which the same is formed,
or by the adoption Of any new act OF the
Legislature; but the final acceptance Of such
power Or privilege shall be submitted to the
stockholders for approval in the manner
prescriber by law.
Art. XIX. The bank shall have the RICH.
to purchase any real property necessary
for carrying or the business Of the
corporation, and sell the same at
pleasure and shall be further
authorized to purchase real property in
Payment of any debt due the bank, either st
private or forced sale, and, if necessary, TO
pay any balance of the purchase considera-
ton Overland above the debt due the bank,
and to sell the same at pleasure, and TO p1r'
chase and sell personal property at pleasure.
-irt. Xxx. The affairs of this bank shall
De liquidated by three commissioners ap-
pointed by the stockholders at a meeting
convened for that purpose, after the delay
and in the manner prescribed for the cleo
ton OF directors; said hquidatOrs shall be
solvent persons, residents in this State, not
indebted TO the bank; their time " Office
shall be assigned; al necessary powers
shall be conferred Oh them; the period for
liquidation snail be fixed, as also their com.
pensation in such manner as The stock
holders may, by resolution in general mee.-
ing convened, determine.
Art. XII. The directors Of this bank are
hereby authorized TO convert this bank into
national bank under the laws Of the
United States whenever the laws Of the
United States shall authorize additional
national banking capital.
taignedl MORTIMER CARR,
Speaker OF the House OF Representatives.
(Signed) OSCAR J. DUNN.
Lieutenant Governor and President OF the
Senate.
Approved -, 1870.
(Signed) H. c. WARMOTH,
Governor of the State Of Louisiana.
A true copy.
GEO. Z. BovEF,
Secretary Of State.