Iuka reporter. (Iuka, Miss.) 1888-1894, 1889-02-14
The Charter OF Incorporation OF
1.-THE Bank OF Iuka.'
SECTION /.

loan OF tho town OF lukH In the county
OF Tishomingo and State OF Mississippi.
together with those VINO may hereafter
become stockholders, their associates.
successors and assigns and the assigns
OF such assigns, forever be and they are
hereby Incorporated and created BODY
corporate under the name And style OF
"The Bank OF Iuka" and as such shall
havN perpetual succession may sue and
b sued. plead and DO implicated in all
the courts of law and equity. aud BY
that name, may contract and be con-
tracted with, acquire, hold, and alien
property, both real and personal, and
may have . common seal, which may
% changed or altered ~ pleasure, and
by that name may do. and perform I'll
the acts and possess all the powers and
privileges OF bodies polite and corpo-
rste.
SECTION 2.
The capital stock OF said Bank shall
be ten thousand dollars divided into
shares OF one hundred dollars each,
which capital stock, may be increased
By the stDckolders from time to time, to
any amount deemed advisable and
proper BY them; the certificates oil
shares to be made payable to the stock
holders BY name, and negotiable and
assignable BY endorsement and delivery,
and each share shall entitle the holder
thereof to one vote.
SECTION 8.
Tho Management Of said Bank shall
be confided u board OF not less than
two nor more than SIX directors to be
elected annually by the stock holders of
said Bank, and they shall hold their Of
noes until their successors are duly cleo
ted and qualified. The said directors
may make aud adopt such rules and
regulations and BY laws tor the govern
ment'of said Bank and the transaction
OF the business thereof as they may
deem expsdient and best for effsctlng
the objects Of said corporation and
furthering it's interest provided they
shall make no rule, regulation or by law
n conflict with the constitution or laws
Of this state or OF the United States :
may provide for the election and sala.
riss Of the officers Of said Bank. and for
the appointment and pay Of its xgents
and employees, for filling vacancies in
ofEice and for removing any officers,
agent or employee for misconduct, or
incapacity or other good cause, for the
subscription OF stock the purchase and
sale OF the Bank stock and property, for
the manner. in which said Bank shall
advance and loan money, provided the
rate OF interest on money loaned shell
mot exceed ten per cent per annum, or
other valuable things. May make all
other regulations for the management
and business of the Bank not in conflict
with the consultation and laws of this
state or Of The United States; may &C.
quire and hold real, personal and mike d
property BY purchase or otherwise Ak
may sell, mortgage, alien or dispose Of
the same and do all acts incident to
bodies corporate aud polite. NAV I'M
vest the capital Of said Bank in gold
and silver COIN, bUllion, bank notes. sill
vor certificates, god certificates of de-
posit. and any and all moneys current
and uncurrant. bonds Of the United
states and Of any stsGe. county or mu-
nicips corporation and in any public or
private securities OF vsiue. may invest
IN mortgages, trust deeds, bills of ex-
chasge and all other evidences OF debt,
may receive in trust or on deposit gold
and silver COIN. bullion, bank notes, eur
rent and uncurrent money, gold and
silver certificates, certificates Of deposit
ana any other thing of value and may
loan the same. may borrow and loan
money and other securities at such rate
OF interest and for such period Of time
- nay be agreed upon by the parties
IN writing provided such rate of inlei est
shall not exceed ten per Cent per al.
mum. may buy and sell notes, bills
single, draftss accounts, United States
and state bonds, municipal and coanty
bonds, warrants and alf other valuable
public and private current and uncur>
rent securities, may do bank collec
ton discount and exchange business
and general business such as 10 Gus.
tomaiy with Banks.
SECTION 4.
Said Bank shall have power to take
deeds In trust, mortgages, bills of sale.
pledges and deposits and other convey
ances OF real, personal and mixed prop.
erty rs security for money loaned, NAV
hold, own and possess any real estaie
and personal property the directors may
Deem necessary or convenient to enable
said Bank to carry on its business and
also any property real personal or mixed
which at any time may be purchased or
AIKEN IN payment Of any debt to said
BANK ana said Bank may alien, sell or
dispose Of the same as 1t may deem best.
may issue certificates of deposit stating
ne terms OF deposit but shall issue no .
'aper 70 circulate as money.
SECTION q.
The domioil Of said Bank shalr be al
!uka In the county OF Tishomin. o and
state Of Mississippi and 1t is incorpora.
ed with the rights and privileges enum-
rated above under chapter Is of the
'ode q 1850 and chapter 26 of the acts
i 1882 said chapter 90 was approved {
darch It'll, 1882 and chapter Sc OF the
cts Of lS 4, said chapter 81 was aprroy d
Qarch 18th, 1884.
Signed this 7th day Of February, A. D. !
c. !. HYATT.