The Donaldsonville chief. [volume] (Donaldsonville, La.) 1871-current, 1874-04-04
No. "a.
An Act
To incorporate the Ban

temple 5. kouns, NJ. G. Maxwell. S. Gait
efs, Dennis O'Brien, Samuel S. Harris
Spencer Roach, j. H. Laws, Moses FLYER.
man ana Curtis Pollard. are hereby created
and constituted a body cornorata and
polite under the name and title of the
Bank OF Delta" with all the powers and
rights set forth In the following articles, viz
The name and title of said corporation
snail be the !" Bank of Delta" and its domi-
Gle is hereby established in the town of
Delta, Madison parish, Louisiana, and shall
exist for term sof twenty-five wears from
the passage of this act. 1t shall have mower
to contract, sue and be sued, and shall have
ana use common seal of such device as
be may deemed proper.
ARTICLE II.
The object and purpose of said associa-
tlon are TO carry on the business of banking
In all its branches, by receiving deposits
buying and selling gold and silver, bullion
and bills of exchange, loaning money on
real and personal property, discounting
Diils, notes and other evidences of debts.
ana generally to exercise such privileges
and powers as may be conferred on them by
law.
ARTICLE III.
The capital stock of the association shall
be three hundred thousand dollars, divided
into three thousand shares of one hundred
dollars each, payable at tho time and in the
manner following, viz: Ten dollars per
shares in cash at the time of subscription to
said stock, and the remaining ninety dol
lars of each share in installments, of NOT
more than ten dollars at any one time. and
not more than once in any one monh.
which payment shall be called for and
payable in the town of Delta. and n notice
n that affect ahaD he mi ftehaI a.
in at least one newspaper in the town of
Delta and one newspaper in the city of
Vicksburg, Mississippi, and shall be PAYABLE
at the office of said company, and any stock
holder failing to pay any installnlent shall
forfeit the shares of stock subscribed for and
the amount already paid by him, and the
same shall revert to the company; provided,
that in no case no newspaper be published
in Delta, notice of calls for payment of stock
shall be posted in hand bills in at least ten
places in the said town. Said
shall commence business az soon
as one hundred thousand dollars shall have
been subscribed and ten per centuH thereof
paid in.
ARTICLE ".
All corporate powers of said association
shall be exercised by board of directors.
each of whom shall possess in his own right,
and during his continuance in office at least
twenty shares of stock of said association
The c0rpOratoRs named in this act shall
the first board of directors, and
shall hold their seats until the second Mon
day in December, 1873, or until their sue
cessors in office shall have taken their
places.
ARTICLE v.
On the first Monday in December, 1879,
and annually thereafter, an election for
eleven directors by the stockholders shall
be held at the Office of the company, of
which previous notice of at least fifteen
days shall be given in one newspaper pub
ished in Delta, and one published in Vicks-
burg, Mississippi; and in case no paper
being published in Delta, hand bills must
be posted IN at least ten conspicuous places,
giving due notice of all elections to be held
BY the association. In case no election is
held for any causes, ON the next day fixed,
The president shall cause an election to be
held within ten days thereafter, and it is es- /
pecially provided for, that the failure TO
slect a board of directors shall not forfeit |
this charter, but the directors shall remain
until their successors shall have taken their
places.
ARTICLE VI.
Said directors shall at their first meeting |
after their election select from. among their
1umber a president and vice-president
The president shall preside at all meetings |
IT the board and in his absence the vice. |
PRESIDENT, or in absence of both. one of said |
board shall be selected by the members |
present. and the officer thus selected and /
presiding shall exercise only the casting /
'ote m case of an equal division IN the vote
# those present The president or cashier I
hall be the proper person on whom all cita- +
ions of legal process or notice shall be
erved.
ARTICLE VII.
The board of directors shall appoint and |
* the amount of the compensation of all |
Ulcers, clerks and employees of the associ-
tion and regulate the duties and fix the
eeurities of all the employees, whose posi-
IONS shall be subject to the will of the
'oard They shall make and adopt bylaws,
uies and regulations for the proper govern
aent of he association and the transaction
1 its business, and alter the same at
leasure, provided the same is not in con-
ict with the laws of this State OF true in
ent and meaning of this act.
ARTIcL VIM.
The humber of directors necessary for
accounting paper and purchasing bills of
xehange shall be determined by the by
AVIS. A majority of the board shall con-
tltute quorum, and decision of such
aaJority shall be valid corporate act.
ARTICLE TX.
Said corporation shall be authorized to
eeeive on deposit from all persons all sums
money from one dollar upward, and to
ay out the same by check or otherwise
Tithout the authorization of the parent or
ntor of minors, or the husband of the
larried woman, for which money SO de-
osited flor saving) interest shall be al
,wcd.
ARTICLE K.
The board of directors shall regulate from
me to time the rate of interest to be al
WED to such depositors.
ARTICLE xI.
The board Of directors shall, twice in each
ear, if the profits of the association Justify
, after paying or providing for the paw
ent of all the expenses of the corporation.
eclare and pay such amount of dividends
.. they may have declared, and give notice
such dividends in one newspaper pub
she'd in the town of Delta or in the eifx- of