St. Landry democrat. (Opelousas, La.) 1878-1894, 1888-06-09
AMENDMENTS
TO THE
Charter of the st. Landry Homestead
and Loan Association.
OPELOUsAs, La, April 5th, IS


The stockholders of the st. Landry Homestead
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 capl-
tai stock to one million 81, 900 ,O0O) dollars, dvi-
ded into five thousand $4,000 shares of two hun
dred (S20000) dollars each.
cd. To amend Art 7, by substituting the num-
Der GO) ten instead of the number (20) twenty
in the limitation of the number of shares on
which stakeholder may borrow from the AS
ISOLATION.
amendments necessary to carry ont 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. 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,
ing been instructed to call the roll of stock
holders and the same having been done, it was
asccrtained that t296) two hundred and ninety
six shares OF stock We're represented in person
and by proxy, the said shares represented
being more than ca three-fourths of the stock
subscribed.
The Chair then announced the consideration
of the amendments i'll order, whereupOn it 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 be amended and re, enacted so as
to read as follows viz:
art l. The capital stock of said corporation
shall be One Million Dollars, divided into five
thousand shares each representing two hun
bred 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 been subscribed; said stock shall be is
sued in series, designated respectively as Sc
res, A, B, G, etc. of which the stock now eX-
listing shall be known as series A. but no one
series shall contain more than $500 five hum
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 is consistent
with the interests of the subscribers and
whenever the shares representing the last re-
manning series shall he worth the sum of two
hundred dollars each, the association shall he
liquidated by 81 three commissioners selected
by the Board OF Directors from among the
stockholders.
Art. 7. 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
sociation loan of two hundred dollars. less the
premium offered. Whenever the funds in the
Treasury shall warrant, one more loans shall
he 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 a
loan who is in 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 satisfactorily 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
sOciation. Security shall not be deemed suffi-
cient unless approved by at lenst q majority of
the Board of Directors present"
The Chairman having asked the stockhold-
ers If they were ready to vote upon theamend-
ments, and they being ready. the Chair ap-
pointed three stockholders. viz o. H. Terwil-
Tiger, Albert Bloch and DR.. r. N. Littell 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 aseer-
tanned that two hundred and ninety-siX votes
were cast in favor of said amendments. and
none against. The votes cast in faynr thereof
being more than three. fQnrths Of the total num-
Der of ghafas OF Said stack taken, the Chair
man ANNOUNCED the amendments carried and
ordered the Secretary to record the same.
And there being no further business before
the stockholders, and motion having been
made, seconded and carried. the meeting adj
journed. JOS. BLOCH,
Attest: President Pro, TEN,
VIC. PERRAULT, Secretary,
true copy,
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