The Meridional. (Abbeville, La.) 1856-1906, 1890-08-02
CHARTER.
STATE OF LOUISIANA; PARISH or
VERMTLION.

One 1nOuSana Eight Hundred and
Ninety, before ME, William PierTeport
Edwards, a duly commissioned and
qualified Notary Public in and for the
parish of Verfnilion, State of Louisiana.
and in presence Of the Witnessesherein-
after named ahd undersigned, person
ally came and appeared the persons
WhoSe names ale hereunto subscribed,
who declared that availing themselves
of the provisions of the statutes of
Louisiana, relative to the orgahfza-
tion of corporations, they do by Bhese
present, covenant agree and bind
themselves aid those who may here
after become members Of this organfza-
tion, to form and constitute aSc0rpora-
ton for the objects and purposes and
under the stipulations and regulations,
eto-Wls:
CHARTER.
ART. l.
Section l. The name ana title Of
this corporation shall be the
'ABBEyILLE BUILDING AND LOAN
ASSOCIATION, LIMITED.
and under its said corporate name. if
shall have the power to contract, sue
and be sued, to make and use q 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-
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 under the
provisions Of this charter shall exist
for aperiod Of ninety mine years.
ART. II.
Sec. /. The doniieile of said corpor-
alton shall be in the town of AbbeVille,
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 Secre-
tary. s
ART. III.
Sec. /, The object of the association !
shall be fhe accumulation of a fund !
from the weekly irfstallments on ac- |
count of subscriptions to the capital S
rentals, premiums or discounts and 9
interests on loans and from other q
sources. The fund 30 accumulated TO 9
be used for the purchase and sale of
ealestate, the building, renting and
sale Of homesteads, and the lending s
of funds upon mortgage security itl the g
parish of Vermilipn, and upon shares !
of this corporation as provided In the
bylaws. Q
Section 2. No loans shall be made y
except to share holders, and no loans 7
for sum greater than the face of the 7
shares owned by the borrower.
Sec. 8. All loans shall be under the
control and direction OF the Board of Fl
Directors, who shall have the power to Il
make such rules, regulations or by 81
avs regulating the same as they may 81
deem necessary or expedient. 81
ART. " a
Sec. I. The capital Of said CORPORA p
ion shall be One Hundred and Fifty a
Thousand Dollars l$150, ,06O0O) with W
he right of increasing the amount to Il
Three Hundred Thousand Dollars fo
$500, ,000.00l provided the consent of te
he stock holders is first obtafned and b
hall be issued in shares each repres- Sc
nting Two Hundred Dollars f$200.00l as
0 be paid up in weekly installments re
# twenty five cents per share, and al
aid corporation shall begin business b;
Wien One Hundred and Fifty shares th
re subscribed te
SEC. 2. Minors may hold shares az
through their parents or tutors, and bf
larrfed women in their own right al
Sec. 3. At the close of each fiscal ve
ear the net profit shah be apportioned ne
nd divident credited to the value OF. va
ach share in force, in such manner VI
s the board Of directors may deter So
line. at
Sec 4 The fiscal year shall end on hi
he first Saturday Of January Of each hI
ear. vi
Sec. 5. Whenever the shares of any to
ne series by reason Of the payment on ce
ccount of subscription thereto, to- IN
ether with the addition Of the profits N;
nd denominations thereto shall Le We
orth the par value Of two hundred 50
ollars {8200001 each, the shares re in
i6senting the series SO arrived ct par, va
1ail be liquidated and paid over to III
he holders thereof az tha surrender If th