The Meridional. (Abbeville, La.) 1856-1906, 1890-08-16
CHARTER.
STATE OF LOUISIANA; PARISH or,
NERAIII ION


Ninety, before me, William Pierrepont
Edwards, duly commissioned and
qualified Notary Public in and for the
parish of Nermilion, State of Louisiana.
and III presence of the witnesses herein
after named and undersigned, person
ally came and appeared the persons
whose names aIe hereuRto subscribed,
VINO declared that ayailing themselves
3f tho provisions of ehe statutes et
Louisiana, relative to the organiZa-
Li8n Of corporations, they do by these
present, covenant agree and bind
themselves and those who may here
after become members of this organiza-
ton, to form and constitute corpora
fian for the objects and purposes and
uadgl the stipulaticns and regulations,
C3-wit
CHARTER.
EiaT. |.
Section /. The name and title of
corporation shall be the
ABBEvlLLE BUILDING AND LOAN
ASSOCIATION, BfMITED."
and ander its said corporate name, lit
shall have the power to contract, sue
and be sued, to make and use q cor
.perate seal, and the sametto break and
alter at pleasure, to hold, receive, lease,
purchase, convey and pledge under its
corporate name, property both real
and personal; t0;lend money on secur-
ity, to name and appoint such officers
and agents as sthe 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 sId proper, and
the same to change and alter at pleas
ure, and to do all suchsacts 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 under the
provisions Of. this charter shall exist
f9r a period of ninety -nine.years.
ART. II.
Sec. |. The domicile of said corpor-
alton shall be in the town OF AbbeVllle,
in the State of Louisiana, and all cita-
tions OF other legal process shall be
served upon the president OF said cor
poration or in his absence upon the
Vice president,jgr in the absence OF
both Of these otffeerS upon the Secre-
tary.
See. | The object of the association
shall be the accumulation of a fund
from the weekly iRstallments on ac-
count Of subscriptions to the capital
rentals, premiums or discounts and
interests on loans and from ether
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 lendiR
Of funds upon mortgage security in the
parish of Vermilion, and upon shares
of this cooperation as provided i'll the
bylaws.
Section ?. No loans shall be made
ezcept to share holders, and no loans
for a sum greater than the tace Of the
shares owned by tile boerower.
Sec. 3. All loans shall be under the
eonfroland direction of the Board of
Directors, who shall have the power to
make such rules, regulations on by
laws regulating the same as they may
deem necessapy,oI expedient.
ART. ".
Sec. u The capital of said corpora
ton shall .be One Hundred and Fifty
Thousand Dollars ($150, ,00000) with
the right Of increasing the amount to
Three Hundred Thousand Dollars
($300 ,000.00) provided the consent Of
the stock holders is-frst obtained, and
shall be issued iii shares each repres-
entinc Two Hundred Dollars ($2000O4
to be bald. up in weekly installments
of twenty-five cents per share, and
said CORPORATION shall begin business
when one Hundred and Fifty shares
,ro subscribed.
sec. 2. Minors may hold shares
through their parents or tutors, and
married women in their own right.
Sec. 8. At the close of each fiscal
year the net profit shall be apportioned
.na /. divident,credited to the value OF
sch share in force, in such manner
as th5 board of directors may deter
mine.
sec. 4. The fiscal year shall end on
tbe first saturday,of January OF each
See. 5. Whenever the shares of any
oHe series by reason of the payment on
account of subscription thereto, to-
gether with the addition OF the prolts
and accumulations thereto shall De
worth the par value of two hundred
dollars (S2O0.00) each, the shares re-
presenting the series SO arrived at par
Shall he Iquidated and paid over 20
the holders thereof as the surrender OF