St. Landry democrat., 1888-05-05
CHAPTER
ST. Landry Homestead and Building
Association
STATE OF LOUISIANA, PARISH OF

STATE OF LOUISIANA, PARISH OF
| ST. LANDRY.
Be it Known. that on this Twenty-second
day of March. A. d. One Thousand Eight Hum
bred and Eighty Eight. before me, VIM. Chas.
! Perrault, a Notary Public in and for the above
| Parish aEd State. duly commissioned. qualified
| 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
availing themselves of the provisions of the
! laws of this State relative to the organization
/ of corporations, they do by these presents COW
/ enant, agree and bind themselves their asso-
| ciates and successors, TO form and constitute a
| corporation for the objects and purposes and
under the stpulations and regulations follow
1 ing. tO-wit:
Art 1st The name 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 years, from the date hereof, to con-
tract. sue and be sued, to make. have and use
| corporate seal, and the same to break, aller or
| amend at pleasure TO hold. receive, lease, prr-
| chase and convey. under its corporate name,
real estate to lend money on MORTGAGE secu-
| rity, to name and appoint such officers. mana
gers, directors and gents, as the interests and
conyeniencps 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 he necessary and proper. and the same to
change and alter at pleasure ard do all other
| acts and things as are, or may be, necessary
and proper TO carry OUT the OtcCtS anu purposes
of said corporation.
Art. Cd The d0micil of said corporation, shall
be in the town of Oneousas, La, and all citations
and other legal process shall be served upon
the President of said corporation. or i'll bis alb
sence. upon The Vice-President, or in the ab-
sence OF both of these officers, upon the Secre-
tary.
be the accumulation of a fund from the weekly
fnstallments on account of subscriptions to the
capital stock, rem tails, premiums and interest
on loans the funds SO accumulated to be used
for the purchase and sale of real estate, the
building, renting and sale of homesteads, and
the Ienatng of funds upon mortgage Or realty,
or other security in the Parish Of ST. Landry,
but no loan upon other than real estate securi-
ty shall be made without the consent of at
least two-thirds of the whole Board of Directors.
Art 4th. The said capital stock of this Cor
paration 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 t200)
shares of the capital stock have been subscribed;
said stock shall be issued respectively in series
designated as series A. d. G. etc. of which tho
stock now existing shall he known as series A.,
hut no one series shall contain more than Five
Hundred shares. The Board OF Directors shall
Gave power to close each series before opening
4 following,one. Whenever the shares repre-
senting any series. shall by reason Of payment
of installments and accumulation of profits be
worth thapar value OF one hundred Dollars
as is consistent with the interest of the subscrb
ers and whenever the shares representing the
last remaining series shall be worth the sum of
One Hundred Dollars each the Association
shalt be liquidated by three commissioners Sc
iected ny the Board OF Directors from among
the stockholders.
Art 5th. The corporate powers of the Asso-
citation shall he exercised by Board of Direct
ors trtconsist of Eleven Stockholders owning |
at least two shares of stock each. who shall be
elected by The Stockholders on the Sd Monday |
m March ANNUALLY. commencing the Sd |
Monday in March A. d. One Thousand Eight |
Hundred and Eighty-Nine qss9) each share |
of stock represented 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-
pers published in the Parish of St. Landry.
Said election shall be by ballot, and shall be
held at the domicile OF this Corporation, under
the SUPERVISION of three stockholders appoints
ed by the 3oard of Directors at the last pre-
ceding reguler meeting thereof The stock
holders rece wing a majority OF the votes cast
shall be declared elected. Tie failure to hold
aaelectioa on the day specified, shall not dis