St. Landry democrat. (Opelousas, La.) 1878-1894, 1888-06-23
AMENDMENTS
TO THE
Charter of the St Landry Homestead
and Loan Association.
OPELoUsAs, La. April 5th, 1888.


The stockholders of the St. Landry Homestead
and Loan Association met, in pursuance to a
call of the Board of Directors thereof, for the
purpose of taking into consideration amend
ments to the Charter of said Association, viz:
Est. To amend Art. 4, by increasing the capl-
tai stock to one million 81, 0O0) dollars, dlyi
ded into five thousand $4,000 shares of two hun
dred tS200O0) dollars each.
I'd. To amend Art. 7. by substituting the num-
Der QO) ten instead of the number (2O) twenty
| in the limitation of the number of shares on
which stakeholder may borrow from the AS
ISOLATION.
Sd. For the purpose of making any other
amendments necessary to carry out the pur-
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
and place of meeting, and the hour having ar
| 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 har-
ing been instructed to call the roll of stock
holders, and the same having been done, 1t was
ascertained that (296) 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 the amendments i'll order, whcreupOn il was
moved and 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 he amended and re enacted so as
to read as follows viz:
art. 4. The capital stock of said corporation
shall he One Million Dollars, divided into five
Thousand shares each representing two hum
dred dollars, payable in weekly instalments of
said corporation shall begin business when
two hundred shares of the capital stock shall
have been subscribed said stock shall be is
sued in series, designated respectively as se-
ries, A, B. c, etc. of which the stock now ex-
listing shall be known IT'S series A, but no one
series shall contain more than $500 five hun
drcd shares. The Board o. Directors shall have
power to close each series before opening "A fol-
lowing one.
Whenever the shares representing any series
shall by reason OF payments of installments,
and accumulation or profits, he worth the par
value of two hundred dollars each, such series
shall be lquidated as speedily as is consistent
with the interests of the subscribers; and
manning series shall te worth the sum of two
hundred dollars oaeh, the association shall I've
liIuidateu by 60 three commissioners selected
by the Board of Directors from among the
stockholders.
Art. Z. Each stakeholder for each share of
the stock he may hold in the Association shall
be eligible to receive from tho funds of tho As
ISOLATION a loan of two hundred dollars, less the
premium offered. Whenever the funds in the
Treasury shall warrant. one more loans shall
be disposed al TO the stockholders offering the
highest voluntary premium i'll 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 stOckIold-
er shall be eligible to a loan on more than ten
shares. No stakeholder shall be eligible to a
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 annIlm In
case of failure to give satisfactory security for
such loans within one month Of the date of
purchase the interest shall he 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 sufi-
cent unless approved by at least majority of
the Board of Directors present"
The Chairman having asked the stockhold-
ers if they We're ready to vote upon the amend
mcnts, and they being ready. the Chair APP
pointed three stockholaeFs. VIZ o, II. Terwil-
Tiger, Albert Bloch and Dr., r. n, Llttell as tel
lers. who after the casting of the votes, pro-
ceeded to count the votes given in favor of and
against said amendments, when it was ascer-
tanned that two hundred and ninety-sx votes
were cast in favor of said amendments, and
none against. The votes cast i'll favor thereof
being more than three-f0urths of the total num-
Der of shares of said stock taken, the Chair
man announced the amendments earned, and
ordered the Secretary to record fhe same.
And there being 40 4ar&hee business before
the stockh9alaSers, aid a motion having been
made seconded and carried. the meeting ad-
Journed. JOS. BLOCH,
Attest: President Pro, Tenn,
VIC. PERRAULT, Secretary.
VIC. PERaAuLr Secretary.