The clarion. [volume] (Jackson, Miss.) 1883-1888, 1883-07-04

SEC. XII IL shall be the duty OF the Secretary to
keen accurate minutes Of the proceedings OF the
Association and Board of Directors He shall keep
strict and correct account with the members, re-
eeive all moneys paid to the Associations pay the
same over to the Treasurer within three days after
the receipt thereof, taking his receipt as voucher
correctness of the accounts aud perform such other
duties as may be required by the Directors To Sc,
cure the faithful performance oil his duties ne snail
enter into bond, with two securities, III the sum
Of not less than two thousand dollars, and shall re-
ceiye for his services such compensation az the
Board Of Directors may allow.
SEC XIII. 1t shall be the duty Of the treasurer
to receive all moneys paid 10 the Association from
| the Secretary, giving him receipt Tor the same
He shall pay all the drafts ordered by the Board
of Directors, attested by the President and Seere
tary. He shall keep correct account OF all moneys
received and paid out, and his books and accounts
shall be subject at ali times, 10 the inspection O
| the Directors or any member. He shall when re
! questcd make report OF the financial affairs
| the Association To secure the faithful perform
ance Of his duties, he shall enter into bond witt
two on more securities, In a sum not less than hvt
thousand dollars. He shall deliver over to his sue
cessor in office all moneys, books, papers and prop
erty, OF every kind, belonging to the Association
within two weeks after the election OF his success
sor and for the faithful performance Of his dutie
he may receive such compensation as the DlrectOfl
may allow.
See XIV The bonds Of all officers shall be made
payable to the President, his successors in office
and may be put in suit by order OF the Board 0
SEC. XIV. The Attorney Attorneys shall ex
anime all title papers, and procure the necessary
searches for property offered 10 this corporation az
security for money loaned otherwise, and certify
| the result Of the same In writing. He shall pre-
| pare all bonds, mortgages, agreements and othei
writings of legal nature, to he given or taken be
| the corporation; and shall he entitled to receive
from the property liable for the same, not less than
five nor more than twenty dollars, except In cases
/ of extra labor and research, when more may bt
allowed at the discretion of the Finance Commit
| too 4 IN he CHARGES
! shall be settled by the Board Of Directors.
| SEC. XVI. The President shall, annually, at the
first regular meeting OF the Board OF Directors mp,
| point from their number Finance Committee OF
three whose duty II shall be to net in conjunction
with the President To examine and audit all claims
against the Association, and generally 70 attend "a
| ali financial business Of the Association. They
shall report in writing, at the last monthly meet
| ing Of each corporate year, giving full statement
Of the financial condition Of the Association 70 the
| Board Of Directors and majority OF the Finance
| Committee shall be competent to act
SEC, XVII. The President shall also, at the same
| time and In the same manner, appoint Valuation
Committee Of three, whose duty II shall be To eN-
anime and determine the value Of all securities Of
Tered 70 this Association and shall report theiI
| conclusions to the President and the Finance Com
mittee for action by them A majority Of this com
mittee shall be competent TO act.
| SIC. XVIII. The above committees may adop'
such rules for their government a. they may SEE
it, provided the same are not contrary TO this char
ter and bylaws.
SEC xix. Al the stated monthly meetings Of the
Association the funds on hand, II 70 the amount o.
one share or more shall be offered for loan, and the
stakeholder who shall bid the highest premium fol
the preference priority Of loan, shall be entitled
TO receive a loan Of two hundred dollars for eacl
share Of stock held by such stOekholdcr, and goot
and ample security real estate shall be given By
the borrower 10 secure the repayment Of the loan
In case the borrower shall neglect TO offer security
or shall offer security that is not approved Of By
the Board of Directors by such time is the charte
may prescribe, he she shall be charged with on
months interest together with any expenses incur
, red, and the money shall be res0d at the mex
stated meeting. In Of non-payment Of install
ments or interest by borrowing Stockholders, 10
: the space of four months, payments OF pTincipn
and interest, without deducting the premium paid
or interest thereon, may he enforced by procecdn
on their securities according 70 the terms Of IN
contract under which the loan Is made
SEc. Xxx. Interest on all loans shall he az The rat
Of eight per ceHf per annum, from the time ~ max
e ing said loans and shall be paid in monthly in
: stalments In advance, and At the same tine tia
the regular dues are paid and such loans sbali b
for lie purpose " mailing the borrower thereof