St. Landry democrat., 1888-06-02
AMENDMENTS,
TO THE
Charter of the st. Landry Homestead
and Loan Association.
W. +. COCHRA
OPELoUsAs, La. April 5th, 1888.

The stockholders of the St. Landry Homestead
and Loan Association met, in pursuance to Il
call of the Board OF Directors thereof, for the
purpose of taking into consideration amend
nents to the Charter of said Association, viz !:
LIST. To amend Art. 4, by increasing the capt.
tai stock to one million Isl 900 0O0l dollars tliv-
ded into five Thousand $4,000 shares of. two hun
dred $500. 00) dollars each.
cd, To amend Art. 7, by substituting the num-
Der (1ol ten instead OF the number (20 twenty
in tile limitation Of the number of shares on
which stakeholder may borrow from the AS
sociation.
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 az
rived, the meeting was called to order by JOS
Bloch, Esq. a 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 hay
in" been instructed to call the roll of stock
holders, and the same having been done, it was
aScprtaned that f296) two hultdred and ninety
six shares of stock were represented in person
and by proxy, the said shares represented
being more than g three-founths of the stock
subscribed.
of theamcndmCnts i'll order, Nhereupon it was
moved and seconded, that tho proposed amend
mcntS be voted npOn at one aid the same time,
and 10 objection having been made thereto,
tile Chair announced the same unanimously
carried.
Whcreupon 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 A. The capital stock of;sad corporation
shall be One Million Dollars, divided into five
thousand shares each representing two hun
dred dollars, payable i'll weeks instalmcnts of
said sMdt Corporation shall bcsi! BUSINESS WHEN
two hundred shares Of the eaEtaIl stock shall
sued in series, designated respectively us Sc
ries, A, B, G, etc, Of which the stock now ex-
listing shall he known as series A. but no one
series shall contain more than 5000 five hun
bred shares The Board o. Directors shall have
power to close each series before opening q fol-
lowing one.
Whenever the shares representing any series
shall by reason OF payments OF inStallments,
and accumulation or profits, be worth the par
value of two hundred dollars each. such series
shall be lqnidated as speedily as is consistent
with the interests of the subscribers aud
whenever tile shares representing the last re
naming series shall lie worth the sum of two
hundred dollars eaeh the association shall be
liquidated by t3) three commissioners selected
by the Board of Directors from among the
stockholders.
Art. T. Each stakeholder for each share of
the stock he may hold in the Association shall
he eligible to receive from the funds of tho As
ISOLATION loan of two hundred dollars less the
premium offered. Whenever the funds in 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-
ylded that no loan shall be made for less
premium than ten per eentum. NO stockhod=
ep shall be eligible to a loan on more than ten
shares No stakeholder shall be eligible to q
l8an who ia III arrears to the association
Stockholders taking loans shall pay interest
thereon ION nominal loan by weekly payments
at the rate of six per cent per annnm. In
case of failure to give satisfactory security for
such leans within one month of the date of
purchase. the interest shall be charged to such
purchaser, together with all costs and charges
90 expenses attending the examination of titles
and searches. and tha money revert TO the As
sociation. Security shall not be deGmed 5ufi-
Gent unless approved by at least 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-
pointeiktllree stockholders. viz o. III. Terwi-
iiaeY, Albert Bloch and DF. r. M. Littell as tel
iers who after the casting or the votes, pro-
eeeded TO count the votes given III favor OF and
against said amendments when it was ascer-
famed 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 three-foHrths of the total num-
Der Of shares of said stock taken, the Chair
man announced the amendments carried, and
ordered the SrGfGtary to record the same.
And t4lere pelpS no iHrpher business before
the stoeilDaers, and a motion having been
made seconded and carried, the meeting ad-
iourned. JOS. BLOCH,
Attest. PRESIDENT Pro. TEN,
w. c. PERRAULT, S, cretary.
true copy.
W. c. PEREAULT Secretary.