The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1890-01-01
CHARTER
OF THE
Alexandra and Pineville Building and
Loan Association.

PARISH OF RApIDEs.
DE II KNOWN THAT ON THIS THE ;
ID 18th day of November, Ammo Domini |
One Thousand Eight Hundred and EigA- |
ty-Nine, before me. Andrew j. Cammack, |!
Il duly Commissioned and qualified Notary |!
Public i'll and for the Parish OF hapides |
and State of Louisiana, aud i'll the pres
ence of the witnesses hereinafter named |
and underSi gned, 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
nanization of corporations, they do by
these presents covenant, agree and bind
themselves, their associates aad success
sors to form and constitute Il corporation
Tor the objects and purposes and under
the stpulutions and regulations follow
ing, to-wit:
ARTICLE L. The name and title of this
corporation shall be "The Alexandria and
Pineville Bai!ding and Loan Association"
and under its said corporate name it shall
have power and authority to have and
enjoy succession for the term of ninety
niue years from the date hereof; to con-
tract, sue and be sued; to make, have and
use corporate seal, and the same to
break, alter or amend ut pleasure; to
hold, receive, lease purchase and convey
under its corporate name, property, both
real and personal; to lend money on secu-
rty; TO name and appoint snch officers,
managers, directors and agents as the III
terests and convenience OF said corpora
ton may require; to make and establish
such bylaws, rules aud regulations tor
the proper management and regulations
A. ,,,f. Il ~
be necessary and proper, and the same to
change and alter at pleasure, and to do
all other acts and things as are
or may be necessary and proper to carry
ont the objects and purposes OF said
corporation.
AkrlcLE2 2. The domici]e 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 in his absence, upon the
Vice President, or in the absence of both
of these officers, upon tie Secretary.
ARTICLE 3. The object of said corpora
ton Shall be the accumulation OF fund
from the monthly inStallments on account
of subscriptions to the capital stock, rem
tails, premiums and interest on loans--thG
funds SD 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 III the
city of Alexandria and Pinevi!le and inl
mediate vicinity; but the preference shal
ALWAYS be given to members wishing tt
build; provided the premium bid for 9th
er purposes does not exceed that for Dull
: ding by six per centum; but no loan upol
other than real estate security shall b'
made without the consent OF ut least two
thirds of the whole Board of Directors
ARTICLE /. The capital stock OF sale
corporation shall be two hundred and nj
ty Thousand $3.50, 0oO) dollars, divided
into $500 shares, each representing ont
) hundred (Sl9V dollars, payable IN month
share per month, and said corpora,.lo,
shall begin business when five hnhare,
shares OF the capital stock have peeh 81. :
: scribed. =, .o,;.s do.
!, ipnate,l respectively as series A, b, Z, etc
Of which the stock nov existing shall b
; known us series A; bat no one series stla
contain More than one thousand (lGGu
+ shares.
! The Board of Directors shall have pow
or to close each series before opening
following one. Whenever the shares II
presenting any series shall, by reason
nayment of installments and accniGul;
tions Of profits be worth the par value
5 one hundred l$1Oo) dollars each. such So
ries shai! be liqul,lated as speedily rs
consistent with the interest of the sn'
j. scrib.rs, ana whenever the SHARES repre-
9 sentiur the last remaining series sha
q ina worth the sum of one hundred i$lJt
+i,a inf shall
' undated by three commissioners sclecte
Nv thc Board of Directors from anon
the stockholders.
: ARTICLE 5. The corporate powers OF I'll
: Association shall he exercised by I. Buai
: of Directors, to consist OF nine (9) stocl
q holders, owning at least ten shares eacl
' who shall be elected by the stockholde
! on the third Monday in November ann!
). ally, commencing on the third Monday
November, A. ID. 1890, each share OF stoC
5 represented at said election ana not
9 default being entitled to one vote. n
: tice of said election shall be given for
! least two weeks by publication in one {
It more newspapers published i'll the city
u Alexandria; said election shall be by ba
lot and shall be held at the domicile
this corporation, under the supervision
n three stockholders appointed by the Boal
tas-Directors as the last preceding resul
= meeting thereof.
The stockholders receiving MAORI,
/; of the votes cast shall be declared elccte
The failure to bold an election on IL
day specified shall not dissolve the corp
: ration, but the Directors in Office sha
hold over until an election be held, aft,
, ten days notice of the time and plai
l | 'hn .fnu ,,,l1 al f,,
= their number a President, and a Vic
President, and five Directors shall be
quorum for the transaction of business
The Directors shall elect or appoint
= Secretary and Treasurer and such othe
officers as may be necessary, but no salar
shall be paid except to the Secretary: an
| said Directors shall have power to ente
bylaws not repugnant to this Charter; !
select place for meetings; to stsfeu
any officer for neglect of duty or 'ttiseeli
duet, and 10 have general authority Il
: carry ont the objects and business 0f Il
) Association. But lie; ssiall Hat a4s
power TO pir;o..,.se real estate excen4 70
cash, nor contract any indebtetness what
ever in excess of the amount of on
months instai!ments
Il ARTICLE 81 The members of this Asso
J; eiatiol Binst be residents of Lntisiana.. =
Minors may hold stock through their tn
tors. aud women in their own right. AL
application for membership shall be sub
.ect to the approval of the Board Of Di
rectOrS.
ARTICLE 7. Each stakeholder, for eac
share of stock he may hold in tho Associ
alton shall! be eligible to receive from TIL
funds of the Association Il loan of On
Hundred Dollars, less the premium OF
ferel Whenever the funds in the treas