The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1889-12-04
CHARTER
Alexandra and Piueville Building and
Loan Association.

Ola r Ut 1IOGlSiANA,
! PARISH OF RAPIDEs.
DE IT KNOWN THAT ON THISsTHl
IL 29th day of November, Ammo Domin
One Thousand Eight Hundred aud Eigl
ty-Nine, before me, Andrew j. Cammach
a duly commissioned and qualified NGtar
Public in and for the Parish of Rap,le
and State Of Louisiana, and in the pres
ence of the witnesses hereinafter name,
and undersigned, personally came an.
appeared the several persons whose name
are hereto subscribed, who declared tina
awaiting themselves of the provisions O
the laws OF this State relative to the or
ganization of corporations, they do b,
these presents covenant, agree and bint
themselves, their associates AID success
sols to form and constitute corporation
for the objects and purposes and unde
the stipulations and regulations follow
ing, to.wit:
ARTICLE l. The name and title of th
corporation shall be "fhe Alexandria ant
Pineville Building and Loan Association,
aud under its said corporate name it shall
have power and authority to have ant
enjoy succession for the term Of ninety
nine years from the date hereof; TO con
tract, sue and DC sned; to make, have an,
Use Il corporate seal, and the same Il
break, alter or amend at pleasures; tt
hold, receive, lease purchase aud conve,
unucf lis corporate name, property, boil
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 maxi and establish
such bylaws, rules and regulations TO,
the proper management and regulation.
of the affairs of said corporation us may
be necessary and proper, and the same tC
change aud alter at pleasure, and to dc
all other acts and things as are
or may be necessary and proper TO carry
out the objects and purposes of said
corporation.
ARTICLE 2. The domicile of said corpo.
ration shall be in the city of Alexandria,
Parish of Rapides, State of Louisiana,
and all citations or other legal process
shall be served upon the President of said
corporation, or i'll his absence, npon the
Vice-President, or in the absence of botb
of these officers, upon the Secretary.
ARTICLE 3. The object of said corpora
ton shall be the accumulation of ID fund
from the monthly installments on account
of subscriptions to the capital stock, rem
tails, premiums and interest OH Oans.-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 Pineviile and im-
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 hat for bull
ding by six per ccntnni; 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 fiji
ty Thousand ($250,0U0) dollars, divided
into $500 shares, each representing one
hundred (Sl00) dollars, payable in month
~ instaliments Of sixty (6O) cents per
share per month, and said corporation
shall begin business when five hundred
shares of the capital stock have been sub
scribed.
Said stock shall he Issued in series, des-
gnated respectively AS series A, b, G, etc ;,
Of which the stock now existing shall be
known as series A; but no one series shall
contain more than one thousand lUOU)
shares
The Board Of Directors shall have DOW
IT to close each series before opening a
following one. Whenever the shares re-
any series shall, by reason Of
payment OF installncnts and accumui;,-
lions of profits be worth the par value of
me hundred ($l0U dollars each, such Sc
'ies shall be liquIdated as speedily as is
with the interest of the sub
'cribers, and whenever the shares repre-
'cnting the last remaining series shall
De worth the sum of one hundred ($ltO)
lollars each, the Association shall be Ii
undated by three commissioners selected
~ the Board of Directors from among
he stockholders
ARTICLE .. The corporate powers of tue
shall be exercised BY Board
If Directors to consist of nine (9) stock
FOLDERS, owning ut least ten shares each,
who shall be elected by the stockholders
III the third Monday in November anna
lily, commencing on the third Monday in
November, A. ID. 1890, each share of stock
represented at said election and not in
tefault being entitled to one vote. No
ice of said election shall be given for at
east two weeks by publication in one or
more newspapers published in the city of
AleXandria; said election shall be by bal
OF and shall be held at the donicile Of
his corporation, under the supervision of
hree stockholders appointed by tile Beard
IT Directors at the last preceding regular
Meeting thereof.
The stockholders receiving a majority
# the votes cast shall be declared elected.
TheEaIlure to hold an election on the
lay specified shall not dissolve the corpo-
alton, but the Directors in Office shall
lold over until an election be held, after
ell days notice of the time and place
hereof. The Directors shall elect from
heir number Il President, and Vice
President, and five Directors shall be
Quorum for the transaction of business
he Directors shall elect or appoint a
secretary aud Treasurer aud such other
Ulcers as may be necessary, but no salary
hall be paid except to the Secretary; and
aid Directors shall have power to euact
'y-laws not repugnant to this Charter; to
elect a place for meetings; to suspend
ny officer for neglect OF duty or naiscon-
uct, and to have general authority to
AIRY out the objects and business of the
But they shall not have
ower to purchase real estate except for
ash, nor contract any Indebtedness what.
yer in excess of the amount of one
lonth's installments.
ARTICLE 6. The members of this Asso-
iation must be residents of Louisiana
iiuors may hold stock through their tn
ors. and women i'll their own right. All
pplication for membership shall be sub
set to the approval of the Board Of Di.
ectOrs.
ARTICLE I. Each stakeholder, for each
hare of stock he may hold in tho Associ-
ton shall be eligible to receive from the
lnds of the Association q loan of One
hundred Dollars, less the premium of
cred Whenever the funds in the treas