The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1889-12-11
CHARTER
Alexandra and Pineville Building and
Loan Association.

STATE OF LOUISIANA, !
PARISH OF RAPIDEs.
DE 1T KNOWN THAT ON THlSlTiiE
D 29th day of November, Ammo Dominl
One Thousand Eight Hundred and Elgh-
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
availing themselves of the provisions OF
the laws of this State relative to the Or
ganization of corporations, they do by
these presents covenant, agree ana Dlna
themselves, their associates and success
sors to form and constitute corporation
for the objects and purposes and under
the stipulations and regulations follow
ing, to-wit:
ARTICLE l. The name and title OF this
corporation shall be "rhe Alexandria and
Pineville Building and Loan Association"
and under its said corporate name 1T snail
have power and authority to have and
eniOy succession for the term OF ninety
nine years from the date hereof; to con-
tract, sue and be sued; to make, have and
use corporate seal, and the same 10
break, alter or amend at pleasure; to
hold, receive, lease purchase aud convey
under its corporate name, property, botn
real and personal; to lend money on secu-
rity; to name and appoint such officers,
managers, directors and agents as the III
terests and convenience Of said corpora
ton may require; to make and establish
srch bylaws, rules aud regulations tor
the proper management and regulations
of the affairs of said corporation as may
be necessary and proper, and the same to
change aud alter at pleasure, and to do
all other acts and things as are
OF may he necessary and proper to carry
out the objects and purposes OF SAID
corporation.
ARTICLE 2. The donlici]e of said corpo-
ration shall be in the city OF Alexandra,
Parish Of Rapides, State of Louisiana,
and all citations or other legal process
shall be served upon the President OF said
corporation, or in his absence, upon the
President, or i'll the absence OF both
of these officers, upon the Secretary.
ARTICLE 8. 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 50 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 Ill the
city Of Alexandria and Pineville and i'm
mediate vicinity; but the preference shall
always be given to members wishing t.
build; provided the premium bid tor oth
er purposes does not exceed that tor bull
[ ding by six per centnm; but no loan upol
other than real estate security snail d
made without the consent of ut least two
thirds of the whole Board OF Directors
ARTICLE 4. The capital stock OF sal
corporation shall he two hundred and til
F.. ty thousand ($250,G00D dollars, divide
into $500 shares, each representing on
hundred ($100) dollars, payable in month
lv installments of sixty (6O) cents pc
share per month, and said corporatlo
j, shall begin business when five hundre
s. shares of the capital stock have been sui
i. scribcd.
Said stock shall be issued in series, de-
|ignated respectively as series A, b, Z, etc
Of which the stock now existing shall l.
known as series A; but no one series sha
contain moro than one thousand (lO0t
\ shares.
The Board of Directors shall have pov
:, er to close each series before opening
+ following one. Whenever the shares
J.. presenting any series shall, by reason I
u payment of installments and accumul
D. tons of profits be worth the par value
l. one hundred ($10O) dollars each, such
ries shall be liquidated as speedily as
20 consistent with the interest OF the su
2 scribers, and whenever the shares repr
W senting the last remaining series shf
IL be worth the sum Of one hundred ($lU
= dollars each, the Association shall be
- undated by three commissioners selela
d. by the Board of Directors from amol
the stockholders.
. ARTICLE 5. The corporate powers of t
" Association shall be exercised by Boa
~ of Directors, to consist of nine (9O stOc
no holders, owning at least ten shares eac
!, who shall be elected by the stockholde
'l- on the third Monday in November ann
80 ally, commencing on the third Monday
November, A. d. 1890, each share OF sto
e. represented at said election and not
"a default being entitled to one vote. \
y tice of said election shall be given Tor
o. least two weeks by publication in one
II. more newspapers published III the city
cf Alexandria; said election shall be by b
- lot and shall be held at the doinicile
" this corporation, under the supervision
three stockholders appointed by the Boa
of Directors at the last preceding reSu
meeting thereof.
e" The stockholders receiving a major
of the votes cast shall he declared elcct'
The failure to hold an election on
- day specified shall not dissolve the corr
IT, ration, but the Directors i'll office sh
he hold over until an election be held, at
i'd ten days notice Of the time and pls
i'd thereof. The Directors shall elect fl
d. their number President, and u vi
l. President, and five Directors shall b
:, quorum for the transaction of business
It, The Directors shall elect or appoint
Secretary and Treasurer and such oil
officers as may be necessary, but no sail
ria shall be paid except to the Secretary; a
. said Directors shall have power to en-
70. bylaws not repugnant to this Charter;
IN. IN, select q place for meetings; to suspt
'iS any officer for neglect of duty or mise
duct, and to have general authority
carry ont the objects and business OF
Association. But they shall not b;
as power to purchase real estate except
cash, nor contract any Indebtedness VIII
ever In excess OF the amount Oh
months installments.
a. ARTICLE 6. The members OF this AS
tS5 citation mnst be residents of Louisiana
Minors may hold stock through their
tors, and women i'll their own right.
SH application for membership shall DO s
at iect to the approval of the Board of
'tu- rectOrs.
of ARTICLE Z. Each stockholder, for e.
we share of stock lie may hold in the Ass'
For alton shall be eligible to receive from
,ess funds of the Association a loan of
tJ,ndral noll,rs lass tho nre,ninm