The Meridional. (Abbeville, La.) 1856-1906, 1896-07-25
CHARTER.

LOAN ASSOCIATION, IMTD.,-
STATE or L0UISIANa-PAR-
ISL OF EERMILI0N.
Belt known, That On this twenty
fourth day OF June, Ammo Domini, One
Thousand Eight hundred and Ninety
Six;
Before me, William B. White, q No
taTy Public. duly commissioned and
qualified in and for said state and par
ish, and in presence Of the witnesses
hereinafter named and undersigned,
Personally came and appeared Clar-
ence j. Edwards, Of lawful age and re-
siding at Abbeville, La. herein appear
ing as the President OF the Board of
Directors OF the AbbeviIle Building and
Loan Association, Limited, a corpora
tiGn duly organized and created under
the laws of the State of Louisiana and
domieiIed at the town of AbbeviIle
aforesaid;
And said c. J.. Edwards, President
aforesaid, declares that he. appears and
acts herein by virtue of resolutions
adopted by the stockholders of said As
oOAlC~licIL ava IIENUjll9 bCll dU=ilS@ Sdiu
domicile, authorizing and directing him
to carry out the object of said resoiu-
tons which provided for the amend
ments of certain articles and portions
thereof Of said Charter of said Associa-
ton, and that after al the foTmalities
of the laws of the state, and OF the
Charter of said Corporation had been
complied with, all the stockholders of
the said Abbeyille Building ard Loan
Association, Limited, present and rep
resented at said meeting of said Asso-
citation held IN the 22nd day of May '96
unanimously voted in favor OF said pro
posed amendments, all of which is more
fully shown by q duly certified copy of
said resolutions hereto annexed and
made part hereof:
And said G. j. Edwards, President,
then declared that pursuant TO said
resolutions, he does amend and declare
to be amended, the articles of said
Charter, ali IN the manner and form
and substance, as follows:
That section five of article five of the
Charter be amended so as to read:
Section 5-The Directors shall elect
or appoint q secretary and such en-
ployees as may he necessary and may
fix their compensation, but no salary
shall be paid to any member OF. the
Board Of Directors or officers except
She Secretary and the president; aud
they shall have power to enact bylaws
not ropugnant to this Charter to elect
a place Of meeting; TO suspend any Of
fcer or director for neglect of duty or
misconduct; and to nGme and appoint
their successors rs provided in the by
laws, and shall have general authority /
10 carry ont the objects and business !
OF said Association. But they shall not
have power to purchase real estate px-
cept III case OF necessity to protect the
Association, nor contract any indebted
ness whatever il excess of two months
installments.
That section four AZ of article four
~ be amended 81 as to read:
Section 1.-THE fiscal year shall end
on the first Saturday Of July of each
year.
That section one IL of article FIVE
t5) be amended so as to read:
Section THE corporate powers Of
the Association shall be exercised by
seven Directors, each of whom shall
own not less than two shares and who
shall be elected by the share holders
the Third Tuesday of j uly annually.
Each stakeholder represented at said
election and not in default being enti-i
tied to votes as follows: For one share
up to five inclusive he may cast one
vote. From five shares up to ten in
elusive he may cast tao votes. From
ten shares up to twenty inclusive he
may cast three votes. For twenty
shares or more he may cast four
votes.
Thus done and passed at my office at
the town Of A~bbeyille, La, in presence
of Edward W. Berdine and Eugene I.
Addison, competent witnesses, who
sign these presents with said appearer
and me, Notary, on the day and date
aforesaid, after due reading Of the
whole.
G. j. EDWARDS,
President.
Witnesses: