The Meridional. (Abbeville, La.) 1856-1906, 1890-07-26
CHARTER.
ART. l.

CHARTER.
ART. 1.
Section H.. The. name and title Of
this corporation shall be the
4 BBEylLLE BUILDING AND LOAN
ASSOCIATION. LIMITED"
and under its said corporate name, it
shall have the power to contract, sue
and be sued, to make and use corr
porate seal, and the same to break and
alter at pleasure, to hold, receive, lease,
purchase, convey and pledge. under. its
corporate name, property both real
and personal; to- lend money on secur-
ity, to name and appoint such officers
and agents as the interests and con
venience of said, corporations may re-
quire, to make and establish such by
laws, rules and regulations for the
proper management and and regula@
lation of the affairs of said corporation,
as may be necessary and proper, and
the same to change and alter at pleas
ure, and to do all such acts and things
at are or may be necessary and proper
to carry out the objects and purposes
of said corporation and said corpora
ton unless sooner dissolved tinder the
provisions of this charter Shall exist
for period Of ninety mine years.
H. ART. II.
Sec. L. The domfcile Of said corpor-
alton shall De in the town of Abbeyille,
in the State Of Louisiana, and all cita-
tions or other legal process shall be
served upon the President of said cor
poration or in his absence upon the
Vice-President, or. in the absence of
both of these officers upon the Seere
tary. n...
Sec. l.. The object Of the association
shall be the accumulation of o. fund.
from the weekly installments on ac4.I
count of subscriptions to. the capital
rentals, premiums or discounts and
interests on loans and from other
sources, The fund so accumulated to
be used for the purchase and sale of
real estate, the building, renting and
sale of homesteads, and the lending
Of funds upon mortgage security In the
parish of Vermilion, and upon shares
Of this corporation as provided in the
Section ?. No loans shall be made
except to share holders, and no loans
for a sum greater than the face of the 4
shares owned by the borrower.
Sec. 3. All loans shall be under the
control and direction of, the Board Of
Directors, who shall have Che power to
make such rules, regulations or by
laws regulating the same as they may
deem necessary OF expedient.
ART. Nv.
Sec. /. The capital of said corpora
ton shall be One Hundred and Fifty
Thousand Dollars $3.50, 10000 with
the right of increasing the amount to
Three Hundred Thousand Dollars
$500, ,OOO. .00y provided the consent of
the stock holders is first obtained, and
shall be issued in shares each repres-
enting Two Hnndred Dollars ($200.001
to be paid up in weekly installments
of twenty-five cents per Share, and
said corporation shall begin business
when One Hundred and Fifty shares
are subscribed,
Sec. 2. Minors may hold shares
through their parents or tutors, and
married women in their own right.
Sec. 5. At the close OF each tiscald
year the net profit shall be lpportioned |
and diyident credited to the value Of
each share il force, in such manner
as the board Of directors may deter
mine.
Sec. 4. Tie fiscal year shah end on
the first Saturday Of January of each
year.
Sec. S. Whenever the shares Of any
one series by reason Of the payment on |
account Of Subscription thereto, to-
gether with the addition Of the profits |
and Accommodations thereto shal be
worth the par value of two hundred |