The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1889-12-18
CHARTER
OF THE
Alexandra and Pineville Building and
Loan Association.

Alexandra and Plnevllle Building anu
Loan Association.
STATE OF LOUISIANA,
PARISH OF RAPIDEs.
DE IT KNOWN THAT ON THIS. THE
ID 29th day Of November, Ammo -Domini
One Thousand Eight Hundred and Eigh-
ty-Nine, before me, Andrew j. Cammack,
a duly commissioned and qualified Notary
Public in and for the Parish of Rapides
and State of Louisiana, and in the pres
ence of the witnesses hereinafter named
and undersigned, personally came and
appeared the several persons whose names
are hereto subscribed, who declared that
awaiting themselves of the provisions Of
the laws of this State relative to the or
ganization of corporations, they do by
these presents covenant, agree and bind
themselves, their associates and success
sors to form and constitute Il corporation
for the objects and purposes and under
the stipulations and regulations follow
ing, tu-wit:
ARTICLE l. The name and title of this
corporation shall be ''The Alexandria and
Pineville Building and Loan Association"
and under its said corporate name it shall
have power and authority to have and
enjoy succession for the term of ninety
nine years from the date hereof; to con-
tract, sue and be sued; to make, have and
use a corporate seal, and the same TO
break, alter or amend at pleasure; to
hold, receive, lease purchase and convey
under its corporate name, property, both
real and personal; to lend money on secu-
rity; to name and appoint such officers,
managers, directors and agents as the in
terests and convenience Of said corpora
ton may require; to make and establish
such bylaws, rules and regulations for
the proper management aud regulations
Of the affairs of said corporation us may
be necessary and proper, and the same to
change and alter at pleasure, and to do
all other acts and things as are
OF may be necessary and proper to carry
ont the objects and purposes Of said
corporation.
ARTICLE 2. The domicile of said corpo-
ration shall he in the city of Alexandria,
Parish OF Rapides, State offs Louisiana,
and all citations or other legal process
shall he served upon the President Of said
corporation, or in his absence, upon the
Vice President, or in the absence of both
of these officers, upon the Secretary.
ARTICLE 3. The object Of said corpora
ton shall be the accumulation Of a fund
from the monthly installments on account
of subscriptions to the capital stock, rem
tails, premiums and interest Oh loans-the
funds so accumulated to be used for the
purchase and sale of real estate, the bull
ding and the lending of funds upon mort
gage or realty, or other security in the
city of Alexandria and Pineville and inn
mediate vicinity; but the preference shall
always be given to members wishing to
build; provided the premium bid for 9th
er purposes does not exceed that for bull
ding by six per centum; but no loan upon
other than real estate security shall be
made without the consent of at least two
thirds of the whole Board Of Directors.
ARTICLE 4. The capital stock OF said
corporation shall be two hundred and tit-
ty thousand ($250, GG0) dollars, divided
into $500 shares, each representing one
hundred ($100) dollars, payable i'll month
ly installments of sixty (60) cents pei
share per month, and said corporation
shall begin business when five hundred
shares of the capital stock have been sub
scribcd.
Said stock shall be issued in series, DIES
| ignated respectively us series A, B, c, etc
of which the stock now existing shall bt
known as series A; but 10 one series shall
contain more than one thousand 1OO0
shares.
The Board of Directors shall have pow
er to close each series before opening ;
following one. Whenever the shares re
presenting any series shall, by reason o
payment of installments aud accumula
| I, -.,1 n
one hundred ($100) dollars each. such Sc
res shall be liquldated as speedily as il
consistent with the interest of the sub
scribers, and whenever the shares repre-
senting the last remaining series shall
be worth the sum of one hundred {$l00
dollars each, the Association shall be Ii
quidated by three commissioners seler.l CT
by the Board of Directors from anon!
tho stockholders.
ARTICLE 5. The corporate powers of TIL
Association shall be exercised by a Boar'
of Directors, to consist OF nine (9) stock
holders, owning ut least ten shares each
who shall be elected by the stakeholder
on the third Monday i'll November annu
ally, commencing on the third Monday il
November, A. d. 1880, each share Of stocI
represented at said election and not il
default being entitled to one vote. Nc
tice Of said election shall be given for a
least two weeks by publication i'll one o
more newspapers published in the city G
Alexandria; said election shall be by bal
lot and shall be held at the domcile q
this corporation, under the supervision c
three stockholders appointed by the Boar
of Directors at the last preceding rcgul;s
meeting thereof.
The stockholders receiving q majorit
of the votes cast shall be declared elected
. The failure to hold an election on til
; day specified shall not dissolve the corpc
ration, but the Directors in office sha
hold over until al election he held, atle
ten days notice of the time and plac
thereof. The Directors shall elect frol
their number /: President, and u Vice
f President, aud five Directors shall be
quorum for the transaction OF business
The Directors shall elect or appoint
| Secretary and Treasurer and such othe
{ officers as may be necessary, but no salar
shall be paid except to the Secretary; an
said Directors shall have power to enaC
bylaws not repugnant to this Charter; t
select a place for meetings; to suspen
any officer for neglect of duty or miscol
, duct, and to have general authority t
carry ont the objects and business of th
Association. But they shall not hav
power to purchase real estate except ft
cash, nor contract any Indebtedness villa,
ever in excess of the amount Of on
months installments.
ARTICLE 6. The members of this Ass,
citation mnst be residents of Louisiana
Minors may hold stock through their tt
!. tors, and women in their own right. A