The Lake Charles echo. [volume] (Lake Charles, Parish of Calcasieu, La.) 1876-1898, 1886-11-27
CHARTER

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-oF THR-
Lake Charles Homestead
and Loan Association.
STATE OF LOUISIANA, PARISH OF CALuAsIEU
DE 1T KNOWN, THAT ON THIS
ID nineteenth day of the month of 0c-
tober, In the year one Thousand eight
hundred and eighty-six, before me,
THOMAS KIEINPETER, a duly
commissioned and qualified Notary
Public in and for the Parish of Cal
casieu, in the State of Louisiana, dom
ieiliated In the said city and parish,
and In the presence of witnesses here
matter named and undersigned, per-
sonally came and appeared the several
persons whose names are hereunto sub
scribed, who declared that availing
themselves of the provisions Of the laws
of this State relative to the organize
ton Of corporations, they do, by these
presents, covenant, agree and bind
themselves, their associates and success
sors 10 form and constitute a corpora
ton for tho objects and purposes and
under the stipulations and regulations
following, to-wit:
ARTICLE 1.
The name and title of this corpora
ton shall be the LAKE CHARLES
HOMESTEAD AND LOAN ASSOCI-
ALTON, aud under it's said corporate
name 1t shall have power and authority
TO have and enjoy succession for the
term OF ninety-nine years from the date.
hereof to contract, sue and be sued;
to make, have and use corporate seal
and the same to break, alter or amend
at pleasure; to hold, receive, lease,
purchase and convey under its corpor-
ate name property, both real and per-
sonal; to lend money on security to
name and appoint such officers, mana
gers, directors and agents as the inter
esis and convenience of said corpora.
ton may require to make and estab-
iish such Bylaws, rules and regulations
Tor the proper management and regu-
lation of the affairs of said corporation
as may be necessary and proper, and
the same TO change and alter at pleas
ure and TO do all other acts and things
as are or may be necessary and proper
to carry out the objects and purposes
OF said corporation.
ARTICLE Ii.
The domieile of said corporation shall
be in the CITY of Lake Charles, in the
State of Louisiana, aud all citations or
other legal process shall be served upon
the President of said corporation, or,
IN his absence npon the Vice Presi-
dent, or, in the absence of both of these
officers, upon the Secretary.
ARTICLE Ill.
The objects of said corporation shalt
be the accumulation of fund from the
weekly installments on account of sub
to the capital stock, rentals,
premiums and interest on ioans-the
fund so accumulated to be used for the
purchase and sale of real estate, the
building. renting and sale of home.
steads, and the lending of funds upon
mortgage, or realty, or other security,
in the city of Lake Charles but no
loan upon other than real estate seen
rity shall be made without the consent
Of at least two-thirds Of the whole
Board OF Directors.
ARTICLE Nv.
The capital stock of said corporation
shall be limited to FIVE HUNDRED
THOUSAND DOLLARS $500, 000l,
divided into $500 shares, each repre-
seniing Two Hundred Dollars, payable
IN weekly installments Of twenty-fiv
cents per share per week, and said cor
porati0n shall begin business when one
hundred shares of the capital stock
have been subscribed. Said stock shall |
Do issued in series, designated respect
yely as series A, b, G, etc, of which
he stock now existing shall be known
IS series A bat no one series shall con-
ain more than five hundred shares.
The Board of Directors shall have
'oWer 10 close each series before open
ng q following one. Whenever the
hares representing any series.shall, by
enson OF payment OF installmeuts and
ccumulations Of profits. be worth the
ar value of two hundred dollars each,
lch series shall be liqnidated as speed
y as is consistent with the interest of
Ie subscribers. and whenever the
lares representing the last remaining :
ries shall be worth the sum of two !
indred dollars each, the Association
all be liquidated by three commits !
oners selected by the Board Of Direc- a
rs from among the stockholders. v
ARTICLE v. 8
The corporate powers Of the Associa- :
u shall be exercised by Board of 8
rectors, to consist of eleven stock y
lders, owning at least four shares u
sh, who shall be elected by The stock a.
lders on the second Monday in March Il
nnally, commencing with the second ii
onday ~ March, 1887, each share OF
ok represented ut said election and
Z ln default being entitled 10 one
NptaHe a Aala election shall be given Y
\ ~ least one week bg puFsIaeakioas IN e
" 9k MQfe nAMspapasa published la q
y e1tH % Lake Charles. Said elact;os, Il
AL 1e w ballot, ana ahall I'D hels ~ i,
e u9mish pf this p0rpo ticn Iss,ass, 1 n
a. supervision 81 thtae stock holders !;
ppQAnfeA ~ the Board ii Directors M II !,
aeAaat III eoetlssae rega Tar meeting khere. y
Inc atoclhpldeFh receiving Il ma.
9FltY 81 the votes cast ahan Id dacsaraa
leetea. The failure 10 hold ah elee-
on on the day specified aaall not IN. !
siEe the eOrppfntluA hut the Direct0re i
oflIce shall hold over until an eIec. /
on BE- held, after ten DAYS notice n q
e time and place thereof.
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