The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1890-01-08
CHARITIES
Alexandra and Pineville Building and
Loan Association.
STATE OF LOUISIANA, !
OF THE

! *
IL 29th day of November, Ammo Donini
One Thousand Eight Hundred and Eigll-
| ty-Nine, before me, Andrew j. Cammack,
IL duly commissioned and qualified Notary
Public in and for the Parish of Rapides
and State Of Louisiana, and in the pres
ence of the witnesses hereinafter named
and Undersigned, 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
ganization OF corporations, they do by
these presents covenant, agree and bind
themselves, their associates aad success
sors to form and constitute corporation
for the objects and purposes and under
the stipulations and regulations follow
ing, to-wit:
| ARTICLE l. The name and title of this
corporation Shall be "Thc Alexandria and
Pincvile Building and Loan Association
and under its said corporate lame 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 or amend at pleasure; to
under its corporate name, property, both
| rity; to name and appoint snch officers,
managers, directors and agents as the in
| terests and convenience Of said corpora
ton may require; to mako and establish
such bylaws, rnles and regulations for
| the proper management aud regulations
of the affairs OF said corporation as may
In, nd n,,l I,n M ty,
change and alter ut pleasure, and to do
all other acts and :hings 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 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
VicePresideut, or i'll the absence of both
OF these officers, upon the Secretary.
| ARTICLE 3. 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, rell-
| tails, premiums and interest on loans--the
funds 50 accumulated to be used for the
purchase aud sale of real estate, the bull
ding and the lending of funds upon mort.
gage or realty, or other security in the
city of Alexandria and Pineville and i'm
mediate vicinity; but the preference shall
always be given to members wishing tt
build; provided the premium bid for 9th
CT purposes does not exceed that for bull
ding by six per ccntnm; but no loan upon
other than real estate security shall bt
made without the consent of at least two
thirds of the whole Board of Directors
ARTICLE 4. The capital stock Of salt
corporation shall be TWO hundred and tit
ty thousand ($250, 0U0) dollars, divided
into 25o0 shares, each representing one
hundred ($l0O dollars, payable in month
ly insta!lments OF sixty coy cents pei
share per month, and said corporation
shall begin business when five hundred
shares of the capital stock have been sub
scribed.
Said stock shall be issued in series, DIES
ignatcd respectively as series A, u, c, etc.
OF which the stock now existing shall bt
known as series A; but no one series shall
contain more than one thousand 1000
shares.
The Board Of Directors shall have pow
CT to close each series before opening +;
following one. Whenever the shares re
presenting any series shall, by reason o
payment of iustallments and accumi,la
tons Of profits be worth the par value o
one hundred ($100) dollars each. such Sc
ries shall be liquidated as speedily as il
consistent with tho interest of the sub
scribers, aud whenever the shares repre-
senting the last remaining series s!lal
be worth the sum Of one hundred ($1u0
dollars each, the Association shall be Ii
quidated by three commissioners selected
by the Board Of Directors from anon;
tho stockholders.
ARTICLE 5. The corporate powers of tn
Association shall be exercised by u Boar,
of Directors, to consist OF nine (0) stock
holders, owning ut least ten shares each
who shall be elected by the stakeholder
on the third Monday in November annu
ally, commencing on the third Monday il
November, A. d. 1890, each share of stool
represented at said election and not il
default being entitled to one vote. No
lice of said election shall be- given for a
least two weeks by publication in one o
more newspapers published in the city o
Alexandria; said election shall be by bal
lot and shall be held at the domicile o
this corporation, under the supervision o
three stockholders appointed by the Boar,
of Directors at the last preceding regula
meeting thereof.
The stockholders receiving majorit
of the votes cast shall, be declared elected
The failure to hold an election on tn
day specified shall not dissolve the c0rpo
ration, but the Directors in Office sha]
hold over until an election be held, afte
ten days notice of tho time and plac
thereof. The Directors shall elect frol
their number President, and Vice
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; am
said Directors shall have power to enac
bylaws not repugnant to this Charter; t
select a place for meetings; to suspend
any officer for neglect of duty or miscol
duct, and to have general authority t
carry out the objects and business of tn
Association. But they shall not hay
power to purchase real estate except 70
, cash, nor contract any indebtedness what
ever in excess of the amount OF on
months installments.
ARTICLE D. Inc members VI UulS ASSC
citation mist be residents of Louisiana
Minors may hold stock through their tt
: tors, and women in their own right. A
, application for membership shall be sui
ject to the approval Of the Board of D.
rectorS.
ARTICLE 7. Each stakeholder, for eac
share of stock he may hold in the Assoc
alton shall be eligible to receive from til
7 funds of the Association q loan of On
Hundred Dollars, less the premium O.