St. Landry democrat. (Opelousas, La.) 1878-1894, 1888-04-21
CHARTER
-Ot IHE--
ST. Landry Homestead and Building
Association
STATE OF LOUISIANA. PARISH OF }

STATE OF LOUISIANA. PARISH OF
ST. LANDRY.
day of March. A. D. One Thousand Fight Hum
dred and Eighty Eight. before me- VIM. Chas.
Perraut. q Notary Public in and for the above
Parish and State duly commissioned. quaili1ed
and sworn, in presence of the witnesses herein
after named and undersigned, personally came
and appeared the several persons whose names
are hereunto subscribed. who declared that
availinr themselves of the provisions of the
laws of this State relative to the organization
of corporations, they do by these presents coy
enant agree and bind themselves their asso-
ciates and successors. TO form and constitute a
corporation for the objects and purposes and
under the stipulations and regulations follow
ing. to-wit:
Art 1st Thename and title of this corporation.
shall he the est Landry Homestead and Loan
Association and under its said corporate
name. it shall have power and authority to
have and enjoy succession for the term of
Twenty-Five wears, from the date hereof, to con-
tract sue and be sued, to make. have and use a
corporate seal. and the same to break, aller or
amend at pleasure, to hold. receive, lease pur-
chase and convey. under its corporate name,
real estate to lend money on mortgage secl1-
rity, to name and appoint such officers. mana
gers. directors and agents, as the interests and
canvenences of said corporation may require.
to make and establish such bylaws. rules and
regulations for the proper management and
regulation of the affairs of said corporation. as
may be necessary and proper. and the same to
change and alter aT pleasure ard do all other
acts and things as are or may he. necessary
and proper to carry out the objects and purposes
of said corporation
Art 3D. The domicl of said corporation, shall
he in the town of OrelouSas. Ia. and all citations
and other legal process shall he served urnn
the President of said corporation. or in his ah-
sence. upon the Fice-Presiaenf. ~ in tiin ABB
sence of both of these officers, upon the SecTe
tarY.
Art 3D. The objects of said rorporatin shall
he the accumulation of a fund from the weekly
installments on account OF subscriptions TO the
fn1 c{nn1 rnn flI inf nrnct
on loans. the funds so accumulated to he used
for t, e purchase and sale of real estate, the
building. renting and sale OF homasteads. and
i the lending of funds upon mortgage or realty,
az other security in the Parish of st. Landry
lint no loan upon other than real estate sernri-
ty. shall he made without the consent of at
least twe-tbirds of the whole Board OF Directions
Art 4tll. The said capital stock of this Cor
porafien shall be Five Hundred Thousand
Dollars. divided into Five Thousand Shares
each representing One Hundred Dollars pay
able In weekly installments of twenty five
cents per share. per week, and said corporation
shall begin business when two hundred 5000
shares of the eanital stock have been snbscribad
said stock shall be issued respectively i'm series
designated as series A. r. G. etc, of which the
stock now existing shall he known as series A.,
Int one series shall contain more than Five
Hundred shares. The Board of Directors shall
ilaxe power to close each series before opening
a following one. whenever the shares repre-
senting any series. shall by reason of payment
of installments and accumulation Of profits he
worth the par VdlHe OF TINE hundred DOLLARS
each, such series shall beliquidated as speedily
isconsistent with the interest of the sllbscrib
ers. and whenever the shares representing the
last remaining series shall be worth the sum of
One Hundred Dollars each. the Association
shall he iiauidated by three commissioners Sc
lected by the aoard Of Directors from among
the stockholders.
Art. 9Th. The corporate powers of the Asso-
citation shall he exercised by Board of Direct
ors to consist of Eleven Stockholders owning
at least two shares of stock each. who shall be
elected by the Stockholders on the Sd Monday
IN March. annually commencing on the Sd
Monday in March A. d. One Thousand Eight
Hundred aud EighfY-Nine 1880 each share
Of stock representea at said election and not in
default being entitled to one vote. Notice of
said election shall be given for at least one
week by publication in one or more newspa
ners published in the Parish of ST. Landry.
Said esentinn shall be by ballot and shall be
held at the dosaie.ie Of this Corporation. under
the supervision of three stockholders appoint
ed by the Board of Directors Mt the Lass pre-
eeling regular meeting thereof. The stock
holders receiving n majority of the votes cast
shall sse declared elected. The failure to hold
an election on the day specified. shall not dis