The clarion. [volume] (Jackson, Miss.) 1883-1888, 1886-04-21
NEW ADVERTISEMENTS
AMENDMENTS I'd THE CHARTER
Of Incorporation OF the Building aud
Loan Association OF Jackson, Mis-
sissippi.

Article one, Section. two four, ave. ten, twelve,
thirty-one, thirty six and forty of the charter Of
the Building and Loan Association OF Jackson,
Mississippi, hereby repealed, and in lieu there
of the following with corresponding numbers are
adopted and substituted as part Of and amendments
to- the said charter and 10 be Incorporated therein
that is TO say:
SIC. 2. The stock of tsis Association shall be
limited to one thousand shares, Of two hundred
dollars each, in any ons series or class.
SIC I. No Ons person or firm, frm shall
hold more than ten shares in any series; pro
vded that parents or guardians may hold stock Tor
minors
SEC. 5. On zach share there shall BE paid month
" instaliment Of one dollar in advance Per.oDs
wishing 10 take stock in any series shall pay up all
installments which may have become due
sount Of such series, together with such premium
- the Board Of Directors may hK on the
SIC. TO- The Board OF Directors shall a soon r.
may be praetcabs alter the fret election aud
thereafter annually, Al the FIRST regular meeting OF
the Board succeeding each election. choose out Of
their number one person 70 act a. President, and
one Nice-President. They shall 40 appoint
Secretary, Treasurer, and Attorney or Attorneys,
and szch other officers and assistant. as - them
Y. prescribe duties,
such security - they may deem necessary,
for the fzithiu performance Of such duties.
hey shall have iUl control OF ali contracts,
deeds nIoue e., papers, books. accounts mort gagss
and property OF every description belonging 10
Association, and SHALL at each annual meeting Of
the Association submit to the stock holden. full
and complete report Of the Association condition
aud oil lis various transactions during the year.
SIC II. 1t shall be the duty OF the secretary u
Directors and 10 keep full and accurate minutes Of
the proceedings Of such meetings. lie shall keep
an accurate account With each stakeholder, and
attest all orders drawn the treasurer for the pay
ent OF m-Bey. he shall attend 70 the collection
Of aud receive, all dues, hnes other monies paid
the Association, turn the 10 the
Treasurer within ten days after its receipt taking
has receipt therefor, provided, however, that all
day OF each month. lie shall he charged With the
keeping Of All books, accounts aud records Of the
Association, aud shall be held responsible for the
correctness Of the same. He shall also have charge
Of all papers or property o. the Association not
otherwise provided the Directors may instruct.
Itshall be his duty aud know tha all rontraets
cages deeds or agreements made 70 with this
Association snail he duly Acknowledged aud re-
recorded. he shall also that all houses mort
K4ged 10 this Association are kept fully insured in
good aud responsible tnpaHes, approved by the Ii
nauce COMMITTEE, and that the policies deposit
cd ia his Office and made payable 20 this Association
that ali taxes on all real estate - m0Tiga-ed are
promptly paid, and the eipt deposited vita hinI
And upon tae failure OF any holder 70 ren--
ais insurance or 70 pay ms taxes - Aforesaid X al
De tie duty Of the Secretary = draw from the
Treasurer the amount Necessary to -aeh
insurance pay such taxes aud charge the same Il
the toekholder TO be paid with MS dues before the
next monthly meeting, or collected a. provided FOL
in Of other dues, fines peualtie. due tht
Association He shall make 10 the Beard Of Diree
tors at each meeting or often may be required
= iui report in writing o. the financial condition
and general affairs Of the Association, aud senii
annually shall prepare for publication the stock
holders compete .tstem-n t Of the entire business
eonditicn and Affairs If the Association, and .hs
perform suG1 Ntber duties a. may lie required b
Tie Board of Directors los cure The faithful per
forn.nce Of his duties. he shall enter into a bon,
With security, TO be approved by the Board o
Directors IN the sum OF not iess than two thoas.n
dollars
sEc 81 Whenever the asset. Of the Associate,
stall reach the par value o al share. Of stock il
force then It's affairs shall be placed n liquidation
and each and every member shall 2 hive the fui
par value OF all shsr-s held by him JssAer, either il
reeo shall be satisfied and discharged: pro idej
however, that no stockholde shall be entitled {
liens Of record against him satisfied until he h,
faliy paid all dues, fines, interest and al 9th.
sh2fge. that be may o~s the Association.
Ssc. IS All vacancies in the Board Of Director
shall be Allied By election provided in secti0
o. al special meeting be called for that purpo.
sac. 40 These articles may BE- altered smende
BY two-thirds vote Of all members Of the Assoc /
tica, provided, that those mem oers who are indete
70 the Association for loans shall not be emitted
vote upon proposition. TO alter amend
Article 1so. The following Sections are aiopts
as amendments of, and additions to. the said Cha
ter, and 70 be numbered eonsecutively a. state
Sac Al. The President shall be the custodian
the bends OF any officers Of whom bonds may
SEC AZ. Any menber wishing TO withdraw fro
the Association, and who shall give thirty da
notice in writing TO the sosrd Of Directors, shs
be entitled to receive back in cash, on the sure
der OF his stock. its Withdrawal value, which shs
be determined BY the Board Of Directors; provide
arrears for dues, ines interest penalties; al
provided further, that at time shall more thu
one third OF each month receipts be applied to u
payment OF such Withdrawal claims.
SEC 49, The Board OF pirec ors may issue. at AZ
time, series of stock tor the formation OF ne
clas>es, provided. that they shall not be started
periods OF less than six months apart Said class
shall be numbered and shall In all rsspeets. csnfor
% this charter and By laws. aud Be subject 20 I.
oficers and directors OF the Assoeiasisn just u
same a the drst seriee The funds and business
each class shall be kept separate aud shall be ioan<
emily to members thereof aud ne stock hslders IN e
one elias. shall have any rights or privileges IN e
other class OF which he Is mot member. -
class shall pay is proportion 81 - ~,
70 carry on this Association when snAii y 49,
mined ~ the Board Of Director.-