The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1889-12-25
CHARTERS:
Alexandra and Pineville Building and
Loan Association.

STATE OF LOUISIANA, J
PARISH OF RAPIDEs.
/ REI IT KNOWN THAT ON THIS TIT
Il 29tli day of November. Ammo Domin
One Thousand Eight Hundred and Eth
N-Nlne, before me, Andrew J. Canmocl,
duly commissioned and qualified Notar,
fuhlIc Ill and for lie Parish of i,api,le
and State of Louisiana, and in the pres
eilce OF the witnesses hereinafter named
ana Undersigned, personally came unt
appeared the several persons whose, na,u4,
are hereto subscribed, who declared tha,
awaiting themselves of the provisions o.
the laws OF this State relative to the or
! ganlzation of corporations, they do b,
| IneSe presents covenant, agree and bind
| themselves, their associates AID Succes.
sors to form and constitute corporation
iof the objects and purposes and under
the stipulatlonS and regulations follow.
ing, to-wit:
ARTICLE l. The name and title of this
corporation shall be 1.-The Alexandria a nd
Plnevi'le building and Loan Association. y
ana uhdcr It's 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 corporate seal, and the same 10
break, alter OF amend at pleasure; to
mold, receive, lease purchase and convey
under Its corporate name, property, both
real and personals: to lend money on secu-
rity; to name and appoint such officers,
managers, directors and agents as the i'll
terests and convenience OF said corpora
tion may require; to MAKE and establish
such bylaws, rules and regulations fer
the proper management and regulations
OF the affairs Of said corporation as may
DC necessary and proper, and the same to
change and alter at pleasure, and to do
all other acts and :hinss 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 tic city of Alexandria.
Parish OF Rapidcs, State of Louisiana,
and all citations or other legal process
shall be served upon the President of said
corporation, or III his absence, upon the
Vice-President, or in the absence of both
OF these officers, upon the Secretary.
ARTICLE 5. 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, ren-
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 ot Alexandria and Pineviile and i'm
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 centnnl; 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 fit
y Thousand ($250,0O0) dollars, divided
nto $500 shares, each representing one
hundred ($l00) dollars, payable IN month,
y installments of sixty (GD) cents per
share per month, and said corporation !
hall begin business when five hundred
lares OF the capital stock have been sub
cribcd.
Said stock shall be issued in series. des-
lated respectively as series A, b, c, etc ),
II winch the stock now existing shall he |
,nOwn as series A; but no ore series shall /
0ntain more than one thousand {IO1O) |
Ii ;res.
The Board of Directors shall have pow
I to close each series before opening a
one. Whenever the shares re-
rcscnting any series shall, by reason of
ayment OF installments and accumula-
ions of profits lie worth the par valne of
ne hundred ($l00) toliars each, such Sc
les shall be liqudated as speedily as is
onsistent with the interest of the sub
cribers, and whenever the shares repre-
enting the last remaining series shall
G worth the sum of one hundred (bluO)
ollars each, the Association Shall be Ii
Undated by three commissioners selected
y the Board of Directors from among
ne stockholders
ARTICLE D. The corporate powers of tue
shall be exercised by Il Board
Directors, to consist of nine (9) stock
Oiders, owning mt least ten shares each.
l'o shall be elected by the stockholders
the third Monday in November annu-
~, commencing on the third Monday in .
ovember, A. ID. 1880, each share of stock
presented at said election and not in
'fanlt being entitled to one vote. No
ce OF said election shall be given for at
asst two weeks by publication in one or I
ore newspapers published in the city OF I
exandrin; said election shall be by bal +
t and shall he held at the domicie of =
is corporation, under the supervision of i
rec stockholders appointed by the Board =
Directors at the last preceding regular +
Getting thereof.
The stockholders receiving a majority i
the votes cast shall be declared elected. 9
The failure to hold an election on the
y specified shall not dissolve the corpo o
ton, but the Directors in Office shall ),
i'd over until an election be held, after g
II days notice of the time and place g
ereOf. The Directors shall elect from
cir number a President, and Vice e
esident, and five Directors shall be a ;,
Drum forthe transaction of business u u
'e Directors shall elect or appoint q /,
crctary and Treasurer and such other @.
lcers as may be necessary, but no salary 4
all be paid except to the Secretary; and p,
id Directors Shall have power to enact u
laws not repugnant to this Charter; to {.
ect a place for meetings; to suspend r
y officer for neglect of duty or miscon- A
ct, and to have general authority to 7
Try out the objects and business of the 4
ISOLATION. But they shall not have 7
wer to purchase real estate except for r
'h, nor contract any Indebtedness what. Y
er in excess of the amount of one y,
'ntll's installments.
ARTICLE 6. Tha members of this Asso- A
ton mnst be residents of louisiana 4
nors may hold stock through their tu-
8. and women i'll their own right. All
plicatIon for membership shall be sub 6.
t to the approval of the Board of Di- p
tors.
Article Z. Each stakeholder, for each
ire of stock he may hold in the Assoei- .,
on shall be eligible to receive from the .,
Ids of the Association u loan of One II
ndred Dollars, less the premium of
ed Whenever the funds in the treas. n
! SHALL warrant, one or more loans ..