The clarion. [volume] (Jackson, Miss.) 1883-1888, 1886-05-05
AMENDMENTS II IHE CHARrrR
OF Incorporation OF the Binding and
Lean ASse citation or Jackson, Mis-
sissippi.

Article one, Sections Two, four, I've ten, tseiye,
thiEIyone, thirty six aud forty, OF the charter Of
Mississippi, hereby repealed, and in lieu there
Of the following with corresponding numbers
adopted and substituted part Of and MOI
To- the said charter, and 70 be incorporated therein
that i 10 say:
SIC. p The stock OF tAis Association SHAH be
hisited 70 one thousand shares, Of two huudred
dollars each, IN any one series or class
SIC. 4. No one person firm, GFm, shall
hold more than ten shares in any enc series, pro-
vlded, that parents guardians aay hold stock Tor
minors
So. 5 On each share there shall be psid MONTH
ly instalment of one dollar in advance Persons
wishing 10 take stock in any series shall nay up all
install iments which may have become due
count OF such series, together With sGch premium
as the Board OF Directors may hx on the same
SIC. 10. The Board OF directors shall,
may be practicable after the first election and
thereafter annually, At he first regular meeting
their number one person 70 act President. and
one as Nice-fTesideut. They shall 8 appoint n
secretary, IreasHreT, and Attorney Attorneys
and such other officers and assistants them
may Seem neceSsa Y. prescribe their duties.
~ their compensation, and tate from then
such security as they may deem necessary,
Tor tie faithful performance OF such duties
they shall have fun control Of an contracts
deeds monies, papers, books, accounts, MOI. cages
and property OF every description belonging 10 The
Association, and shall, each annual meeting OF
the Association submit 10 the stock holders iuli
and conn vte report # the Associations condition
amt OF liz various transactions during the year.
SIC II II eball be the daty OF the SECRETARY 10
directors ana TO keep fnll and minutes o.
the proceedings OF such meetings. lie BAH keep
IN aecui ate account with each st ekholder, and
ATTEST On defs uia~n ON the treasurer Tor the pay
meHt OF Nancy. He shall attend TO the collection
Of, aud receive, all dues hnss other monies paid
| t. the Association, turn the same TO the
Treasurer within days after It's teeipt taking
ms receipt therefor, provided however, that ali
monies on hand shali De so turned over on the frs
J day OF each month. He shall he charged with the
keeping OF All books, accounts and oris OF the
Association, and shall he held responsible for the
correctness Of the same He shall also have charge
OF ali papers or property OF the Association not
otherwise prov died. the Directors may instruct.
II shall be his duty and know all
mortgages deeds or agreements made TO or with thts
| Association shall be duly acknowledged AMI re-
| recorded he shall also see that all houses mort
gagged 10 this association are kept fully insured in
good and responsible comp anies app by the i
nance Committee, and that the policies deposit
ed ia his flee and made payable 10 this Association
| that all taxes ON all real estate m0rtgaged are
promptly paid, and the eipJ deposited with him
| Aud upon the future Of any stock holder renew
his insurance TO pay his taxes Aforesaid il shall
| be the duty OF the Secretary 10 draw IRON the
| Treasurer the amount necessary to renew such
insurance pay such taxes and charge the same tC
Ihe tockhulder TO be paid with his dues before the
next monthly meeting, or collected As provided oi
! in case OF other dues, fines penalties due the
| Association. He shall make TO the Board of Direc-
tors al each meeting or often may be required
a tull report in writing OF the financial condition
and general affairs OF the ASS citation, and semi
annually shall prepare Tor publication 10 the stock
holders, complete statement OF the entire business
conditiC and Affairs OF the Association and shall
| perform such other duties may be required by
the Board OF directors To the faithful per
formance of his duties, lie shall enter into a bono
| with security, to be approved by the Board %
directors in The SUM Of not less than two thousand
dollars.
| SIC. 81. Whenever the assets Of the Association
shall reach the par value oil all shares OF stock il
force then its affairs shall be placed in liquidation
and each ana every member shall receive The ful
par value OF all shares held by him her, either in
cash or in their own securities; and ali liens o.
record shall be satisfied and discharged; prov dcd
| however, that stakeholder shall be entitled t,
have his securities released collaterals returned
liens II record against him satisfied until he la,
fully paid all dues, fines, interest and all othe
charges that he may owe the Association.
SIC. Sc All vacancies in the Board Of Director
shall be filed by election provided in Section
g. at special meeting to he called for that purpose
SEC. 40. These articles may be altered or amende,
by two-thirds vote of all members Of the Assoc a
ton, provided, that those mem bers who are indebted
to the Association for loans shall not be entitled
vote upon propositions TO alter or amend
! Article Two. The following Sections are adopte.
As amendments Of, and additions 10. the said Char
ter, and to be numbered conseeutiveiy as stated
| to-wit
SIC Al. The President shall be the custodian {
the bonds Of any officers OF whom bonds may b
r required.
SIC A.. Any mem Der wishing to withdraw fro1
the Association, and who shall give thirty day
notice in writing to the Board OF Directors, sha
be entitled to receive back in cash, the surrer
der OF his stock, its Withdrawal value, which sha
he determined by the Board Of Directors; provide,
that the stock is not PLEDGED and that it is not
arrears for dues, fines interest or penalties; an
=
one-thrd of each month receipts be applied to Il
| payment OF such withdrawal claims.
SIC 43. The Board of Direc may issue, at an
| time new series OF stock oI the formation OF ne
classes, provided, that they shall not be starts
periods OF less than six months apart Said class
shall be Numbered and shall in ali respects, confor
, to this charter and by laws, and lie subject to II
officers and directors of the Association, just Il
| same a. the first series The funds and business
each class shall be kept separate and shall he loan
only TO members thereof, and stockholders in al
class shall have any rights privileges in al
other class OF which he is not member. kaC
class shall pay its proportion OF expenses neceSsa
| to carry this Association. which shall be dete
!, mined by the BOARD of Directors.
SEC A.. Each series class of shares may
, | placed in liquidati' and its affairs separate
;, wound up. provided in Section &c of this eharte
| Alter the liquidation of the Association, of ar
It series OF its shares, in the manner prescribed
section 81, should there be any surplus still renal
ing, this shall be divided rata TO the respe ii
shares among the mem bers
H NJ. TAYLOR, President.
J. W beatty, Secretary.
apl21, 'S6-3w.