The clarion. [volume] (Jackson, Miss.) 1883-1888, 1883-06-27
THE CHARTER
Incorporation of the Building and
Loan Association, of Jackson,
Mississippi.

TIL, purpose for which this incorporation is form
ed is tbs aecumulati u % fund which may be
loaned ON ssd real estate security 20 the members
thereof thereby enabling them TO procure homes,
and To make such other investments as may he
provided for In this Charter
SECTION l. This corporation shall be composed Of
the following named persons, to-wit; X. H. sauh-
ders, q. ID. Subway, ID. n. Barrows, Byron lemly,
w H. Perkins, Robert kells, NJ, ). Graft g T.
Wilder Jr, H. NJ Taylor John Mcdonnell, W. l.,
Hemingway, r. +. Cooper, i. Nirden, L. futile,
Jr, s. L. Virden, ]. Strauss. W L. Nugent, !. !"
Harris, oliver Clifton, D +. Porter, g. Y. Free
man. j d. stewart W H. III. Green, ]. l., Power
r. k. Jayne John McGill Geo. G.. Mckee
| J. b. Fuller, and a.. t. Galceran, and such others
as have associated or may hereafter associate WIN
them for the purposes herein named VINO shaii hy
this Charter be incorporated under the name Of the
| Building and Loan Association oil Jackson, MisSls-
sippi and by that name may sue and be sued, plead
| and be impleaded in all courts Of law Or equity
| may adopt and use corporate seal and alter OF
| change the same at pleasure, and in general may
possess all the rights, powers and privileges CON
| ferred by the laws Of this state on corporations
created in the mode and manner q provided ~, ~
feonsistent with the purposes OF this corporation
and the provisions Of this Charter
SEC. ii. The stock OF this Association shaii ~
| limited to two thousand shares OF two hundred dol
SIC III. An certificates Of stock must he signed
by the President aud attested by the Secretary
with the seal Of the Association attached, ana mus
| he duly numbered and recorded
SEC ~ No one person shall hold more than bi
| shares iufthis Association; Pr0rtded That parent
or guardians may hold stock Tor Minors
| SEC r. On each share there shall be pald
| montbIy intaIlment Of one dollar in advance. Per
sons wishing to take stock after the organization
| must pay up all installments which may have be
, | come due, with such premium as the Board Of III
| rectOrs NAV require, 10 make the cash payment o.
new stock equal to the cash value Of old stock
SFr VI Each and every stakeholder or uuste
who shall neglect or refuse TO pay ms monthly dn'
1 nfta the shall Dprnmn 6Tl
and payable, shall forfeit and pay the additions
sum 81 ten cents monthly on each and every doIla
due by him; dues Of each month taken separately
SEC VII All claims for dues, interest, fines an
penalties shall be held lien against the stock
. delinquent members or their assignee and vine
Y such claims shall amount 70 a sum equal TO II
! amount Of dues actually paid by such deitnquen
the said stock shall be forfeited and cancelled On q
e books Of the company.
n SIC. vIII. All tines, penalties and interest sha
| be payable with regular dues.
!. SEC TX. The affairs of the Association shall
d managed by Board Of eleven Directors, who sba
h be elected annually, at such time and place IN Y
= City OF Jackson the Board Of Directors for Y
time being shall appoint, and shall hold their ON
for 0ne year or until their successors are elect
: ana qualified Said election shall he by ballot
| majority Of stockholders voting allowing one 70
a To every share Stockholders not personally prs
4, ent may vote by proxy made IN writing TO I
- persons representing them at such election.
10 SIC r. The Board Of Directors shall, AZ soon
may he after the first election, and thereafter .
nually, at the first regular meeting Of the boa
: succeeding each election, choose out Of their nu
re her one person TO act as President and one a. vi
"a President, They shall also appoint SecTeta
\, Treasurer and Attorney or Attorneys, and 81
" other officers and assistants 70 them may sc
necessary prescribe their duties, fix their comp
III sation. and take from them such security az q
: may deem necessary for the faithful pertormM
n Of such duties.
at sEc XII Ii shall be the duty 81 the Preside
and In his absence the Vice President, 10 preside
~ MI meetings 81 the Association and Board Of Din
,st tors 10 preserve order therein, % administer
Az laws 81 the Association, and perform such ~
= duties as may be prescribed 10 this Charter, or
Bylaws made in pursuance Thereof.