The Meridional. (Abbeville, La.) 1856-1906, 1890-08-23
CHARTER.
STATE OF LOUISIANA; PARISH OF
VERMILION.

and in presence of the witnesses herein.
after named and undersigned, person
ally came and appeared the person
whose names ale hereunto subscribed
who declared that availing themselye
of the provisions of the statutes o
Louisiana, relative to the organiza.
tion of corporations, they do BY Ysthese
present, covenant agree and binC
themselves and those who NAV here
after become members of this oreaniza.
ti0n, to form and constitute CORPORA
ti0n for the objects and purposes and
under the stipulatiens and regulations,
tO-Witt
CHARTER.
ART. l.
Section 1. The name and title og
this corporation shall be the
'ABBEVhLE BUILDING AND LOAN
ASSOCIATION, LIMITED.
and under its said corporate name. 1t
shall have the power to contract, sue
and be sued, to make and use a cor
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-
n nn ipcT Tf esaiI
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
tion unless sooner dissolved under the |
provisions of this charter shall exist |
for period of ninety 4nine years
ART. ii.
See. l. The domieile of said corpor- |
alton shall be in the town of AbbeVille, |
in the State OF Louisiana, and all cita-
tons 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 Secre-
tary.
ART. III.
Sec. /. The object Of the association
shall be the accumulation of a fund
from the weekly installments on ac-
count of subscriptions to the capital
rentals, premiums or discounts and Il
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
by laws. X
Section 2. No loans shall be made
except to share holders, and no loans
for a sum greater than the face Of the
shares owned by the borrower.
See. 8. All loans shall be under the
control and direction of the Board of !
who shall have the power to
make such rules, regulations or by !
laws regulating the same as they may J
deem necessary or expedient.
ART. ". :
Sec. l. The capital Of said corpora /
tion shall be One Hundred and Fifty a
Thousand Dollars $3.50, ,00000) with Y
he right of increasing the amount to t
Three Hundred Thousand Dollars
$500, ,00000) provided the consent of t
he stock holders is first obtained, and
,haIl be issued in shares each repres- s.
,nting Two Hundred Dollars ($20000 a
% be paid up in weekly installments n
If twenty-five cents per share, and a
laid corporation shall begin business b
when One Hundred and Fifty shares Il
ire subscribed. tt
Sec. 2. Minors may hold shares a
trough their parents or tutors, and b
married. women in their own right. a.
Sec. 8. At the close of each fiscal v
ear the net profit shall be apportioned III
nd divident credited to the value of Vi
aeh share in force, in such manner u
S the board of directors may deeer- 81
line. al
Sec 4. The fiscal year shall end on hi
be first Saturday Of January of each hi
ear. W
Sec. 5. Whenever the shares Of any to
ne series by reason of the payment on ce
ecount of subscription thereto, to- in
ether with the addition of the profits m
nd accumulations thereto shall be W
'orth the par value of two hundred SD
ollars {$20000) each, the shares re- in
reSenting the series so arrived at par, va
hall be lquidated and paid over to ht
ne holders thereof as the surrender OF tn
leir certificates, and whenever the 'liG
mares Of the series last issued shall be :