The Meridional. (Abbeville, La.) 1856-1906, 1896-06-27
CHARTER.
AMENDMENTS TO CHARTER OF
THE ABBEVILLE BUILDING &
LOAN ASSOCIATION. LMTD.,-
STATE OF LOUISIANA-PAR-
LSu AE AtEnNLII

IOAN lON. I'M ~
STATE OF L0UISIANA-PAR-
ISL OF VERMILION.
Be it known, That on this twenty
fourth day Of June, Ammo Domini, One
Thousand Eight hundred and Ninety
Six
Before me, William B. White, a No
tary Public, duly commissioned and
qualified in and for said state and par
ISL, 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 Abbeyiile Building and
Loan Association, Limited, a corpora
tion duly organized and created under
the laws Of the State OF Louisiana and
domiciled at the town Of Abbeyilie
| aforesaid;
And said G. j. Edwards, President
aforesaid, declares that he appears and
! acts herein by virtue OF resolutions
adopted BY the stockholders of said As
ISOLATION at q meeting held at its said
domicila, authorizingan directing him
70 carry out the obiect OF said res0su-
tons which provided for the amend
ments Of certain articles and portions
thereof of said Charter OF said AsSocia-
tion, and that after all the formaiities
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 and Loan
Association, Limited, present and rep
resented at said meeting Of said Asso-
citation held on the 22nd day Of MAY sc
unanimously voted in favor of said pro-
posed amendments, all ofWhieh is more
fully shown by a 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, be does amend a~nddeclare
to be amended, the articles of said
Charter, all 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 a secretary and such en-
| ploVees as may be necessary and may
fix their compensation, but no salary
shall be paid to any member Of the
! Board of Directors or officers except
the Secretary and the president; and
they shall have power to enact bylaws
| not repugnant to this Charter to elect
a place Of meeting; to suspend any Of
ficer or director for neglect of duty or
misconduct; and to name and appoint
their successors as provided in the by
laws, and shall have general authority
to carry out the objects and business
of said Association. But they shall not
have power to purchase real estate ex-
cept in case OF necessity to protect the
Association, nor contract any indebted
ness whatever in excess OF two months
installments.
That section four az of article fou
(4l be amended so as to read: T
Section THE fiscal year shall end
on the first Saturday Of July of each
year.
That section one (11 of article five
{5) be amended so as to read:
Section 1.-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
on the Third Tuesday of July annually.
Each stakeholder represented at said
election and not in default being enti-
tied to votes as follows: For n share
up to five inclusive he may cast one
vote. From five shares up to ten in
elusive be may cast W 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 AbbeFille, La, in presence
of Edward w. Berdine and Eugene /.
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. ]. EDWARDS,
President,
Witnesses: