St. Landry democrat., 1888-07-14
AMENDMENTS
TO THE
Charter of the st. Landry Homestead
and Loan Association.
OPELoUsAs, La. April 5th, lsss.

OPELoUsAs, LA, April 5th, 1898.
| The stockholders OF the st. Landry Homestead
| and Loan Association met, in pursuance to
| call of the Board of Directors thereof, for the
purpose of taking into consideration amend
ments to the Charter of said Association, viz
! list. To amend Art. 4, by increasing the capt.
tai stock to one million al, 0000OO) dollars dlvi
ded into five thousand 5000, shares OF. two hun
| dred (S200.00l dollars each.
cd. To amend Art 7, by substituting the mum.
| Der C0) ten instead of the number (90) twenty
| in the limitation of the number OF shares on
| which a stakeholder may borrow from the AS
! ISOLATION.
Sd. For the purpose of making any other
amendments necessary to carry out the Dur
poses and intent OF the above FAMED amend
ments.
| All the stockholders having been regularly
notified of the meeting by written notices set
ting forth the objects and purposes. the time
rived, the meeting was called to order by JOS.
Bloch, Esq. member of the Board Of Direct
| ors of said Association, who on motion duly
seconded and carried, was called to the chair
as President Pro: Tenn. the President and Vice
President being both absent.
The Chair thereupon announced the pur-
poses and objects of the meeting, and declared
the meeting in order, and the Secretary hav-
! ing been instructed to call the roll of stock
holders, and the same having been done, it was
ascertained that 1886 two hundred and ninety.
six shares of stock were represented in person
and by proxy, the said shares represented
being more than "a three-fourths of the stock
subscribed.
The Chair then announced the consideration
of theamendments i'll order, whereupon it was
moved aud seconded, that the proposed amend
ments be voted npon at one and the same time
and no objection having been made thereto
the Chair announced the same unanimously
carried
Whereupon, it was moved and seconded that
the following articles OF the Charter OF the
Association be amended and re enacted 20 as
10 read as follows, viz:
Art 4: The capital stock of said corporation
shall be One Million Dollars, divided into Eve
Thousand shares each representing two hun.
dred dollars, payable in weekly instalments OF
TWENTY-FIVE cents per share per week. and
said corporation shall begin business when
two hundred shares of the capital stock shall
have heen subscribed; said stock shall be is-
sued in series, designated respectively as Sc
ries, A, B, G, ETC., OF which the stock now e1-
listing shall be known as series A. but no one
series shall contain more than 5000 Ave hun
bred shares. The Board o. Directors shall have
power to close each series before opening fol-
lowing one
Whenever the shares representing any series
shall by res7on of payments of installments,
and accumulation or profits, be worth the par
value OF two hundred dollars EACH such series
shall be liquidated as speedily as is consistent
with the interests of the subscribers and
whenever the shares representing the last re-
naming series shall be worth the sum of two
hundred dollars each, the association shall be
liquidated by 80 three commissioners selected
by the Board of Directors from among the
stockholders.
Art. I. Each stakeholder for each share Of
the stock he may hold in the Association shall
be eligible to receive from the funds of tho AS
ISOLATION loan OF two hundred dollars, less the
Treasury shall Warrant one or more loans shall
be disposed OF TO the stockholders Offering the
highest voluntary premium in such manner as
the Board OF Directors may determine; pro-
vided that no loan shall be made for less
premium than ten per centum. No stockhold-
er shall be eligible to loan on more than ten
shares. No stakeholder shall be eligible to q
loan who is in arrears to the association
Stockholders taking loans shall pay interest
thereon Ton nominal loan by weekly payments
at the rate of six per cent per annnm. In
case of failure to give satisfactory security for
such loans within one month Of the date Of
purchase, the interest shall be charged to such
purchaser, together with all costs and charges
or expenses attending the examination of titles
and SEARCHES, and the money revert to the As
ISOLATION. Security shall not be deemed sum
Gent unless approved by at least a majority of
the Board of Directors present."
The Chairman having asked the stockhold-
ers If they were ready to vote upon the amend
ments, and they being ready. the Chair ap-
pointed three stockholders. viz O. a. Terwi.
Tiger, Albert Bloch and Dr. r: M Littell as tel |
lers, who after the casting of the votea, pro
ceeded to count the votes given in favor of and
against said amendments, when il was ascer-
tanned that two hundred and ninety-six votes
were cast in favor OF said amendments, and
none against. The votes cast in favor thereof
being more than threefourths of the total num-
Der of shares of said stock taken, the Chair
man announced the amendments carried and
ordered the Secretary to record the same
And there being no further business befere
the stockholders, and a motion having been
made, seconded and carried, the meeting ad.
jOurned. JOS, BLOCH
Attest: President Pro- Tenn,
W. c. PERRAULT, Secretary.
A true copy.
VIC. PERRAuLT Secretary.