The Houma courier. (Houma, La.) 1878-1939, 1896-09-26
CHARTER
Of
THE PEOPLES BANK,
HotsTna. La.
STATE OF LOUISIANA,
PARISH OF T~ERREBONNE.

w Al
BE 1T KNOWN. That on this Fourth day or
the month OF August. in the year Of Our Lord
tine Thousand Eigh5 Hundred and Ninety
six; before me. Aubin BOnrg. Clerk of the 18th
judicial District Court, Ex-Oiirio Recorder
and NJtary Public, duly qualified aud sworn
in and for said Parish of Terrebomne. State
aforesaid and in the presence of the witnesses
hereinafter named and undersigned, person
ally came and appeared the several persons
whose names are hGreuntO subscribed. who
declared that avuiling themselves of the pro
visions OF the laws of this State relative to
tue formation of cerp0r ttiOns. and especially
Act No. 50 of 1882 and Act $50 of 1888 and the
amendments thereto relative to the formation
of banks and banking corporations they do
Ivy thrse presents covenant, agree and bind
themselves as we'll ts such other persons as
nitv hereafter become associated with them,
to forlu and constitute % corporation or body
polite ~ law for the purpose and under the
agreements and stipulatiOns following, tO-wit
ARTICLE |
The name, style aid title of the corporation
shall be THE PEOPLES BANK" its dOmi-
cile and place for doing banking business
shall be III the town OF Huuma, Parish of
T4rrebunne State of Louisiana. and shall be
j a going corporation with a Capital Stock of
TWENTY-FIVE THOUSAND DOLLARS,
and shall be- authorized to begin business
whenever FIFTEEN THOUSAND DOL
LARS shalt bnve been subscribed, aud leu
Thousand Dollars shall have been paid in
cash Said capital stock of TWENTY-FIVE
THOUSAND DOLLARS is to be divided iutO
Two Hundred and Fifty Shares of Ono Hui-
I bred Dollars each the appeaPers being the
shareholders and their places of residence and
the number of shares aud amounts held by
each fOf them respectively being set forth OPP
pOsite the signature of each OF them. one-haif
of which shares is to he paid cash, and the
other half within twelve months from the
date of the existence Of this corporation sub
ject to the call of the Board OF Directors.
AIT. III.
The said corporation shall commence itsex-
istenGe from the date OF this act for n period
Of NiAety-nime years, aud by its corporate
natTe may sue and be sued, plead aud be i'm.
pleaded, appear, answer and prosecute in any
and all coCrtstu ut decentralization, The
President of this corporation shall he the
: officer On whom citations shall be served.
Art III.
This corporation is organized Tor the purpose
Ofdoin9 u general Banking business, and I'M
der the laws of this state shall have power to
discount bills, notes and other evidences of
debt to receive deposits, buy and sell gold
and silver coin ana bills of exchange; to lend
money, on real and personal security and to
exercise all incidental powers necessary to
EcaTry on O general Banking business. The
said corporation shall also have the power to
hold, receive, purchase and convey, buy, and
under their corporate name such property,
real and personal, az may be Indispensable to
the object of this corporation.
ART. ~,
The said corporation shall be managed by a
Beard OF Eleven Directors, who shall be ac-
tual rpsidents and citizens of this State and
actual stockholders of the said corporation to
b6 elected by ballot on the Second Thursday
of June Of each year, five Of whom shall com.
pose a quorum for the transaction of any and
all business; and said Directors 'shall hold
Office fOroi year or until their successors shall
lave been elected and qualified, All elections
| aInl hp nOOHuRfpn u0unp the SunnrVlSiOn al
three stock holders who ale not Directors
appointed by the Board of Directors for that
pnrpsse, and i'll case OF any one OF said Com
missinners of Election declining or failing tC
act the President shall appoint another to fill
| his place, the persons receiving the highest
number OF totes shall he declared elected.
, The said Board of L ~irectOrs shall elect from
their number a President and Vice President
They shall also elect all other offices Of the
! Bank aud fix their salaries. All vacancies
occurring in the Board of Directors shall bt
filed by the Board.
Previous uotice of at least ten days shall b.
given of each annual election by written no
tice, or by publication in II ne wspaper pub
lished in the town of Houlna; and in case 0
NO election on the day fixed the President o.
the Board OF Directors shall cause an election
to be held as soon thereafter as possible. A
failure to elect IL Board of Directors shall no
forfeit the Charter but the Directors in Office
shall remain until their successors AVE beef
olCCbCu ~ tu"hASN'
ART. ".
The said Board of directors shall make AM
ordaim such BY Laws for the proper manage
ment OF the affairs OF said corporation as ma,
be necessary and proper III conformity wit
the provisions of laws of the State and thi
act, and such bylaws to alter, amend an
change or repeal at pleasure and they sha
adopt for the use of the corporation u seal {
the following description A circular disk o
the margin of which is inscribed, ''rhe PEI
plies Bank Houma, La, in the ceuter
which circular disk is the Louisiana coat
arms,
ART. vi.
Whenever this corporation is dissolved eitl
er by limitation or for any other cause j
affairs shall be liquidated under the superv
sion Of three Commissioners to be app0inte
from the stockholders at a general meetir
convened for that purpose after thirty da,
prior notice by publication in a newspaper
HOuIna, La, and with the assent of thr'
fourths of the stock represented at snch met
ing, said / commissioners to remain i'll OIL,
until tn affilirs of the corporation shall ha'
been fully liquidated.
ART, VII,
This act of Incorporation may be change
modified or altered, or said corporation mi
be dissolved 1T d special meeting of the stOc
holders convened for that purpose after thir
days prior notice by publication in a new
paper published in Houna with the assent
three fOurths of tue capital stock of said &C
poratiOn. Any change OF alteration as to Z
capital stock CT said corporation shall lequi
the assent of three-fOurths of the amount
the entire capital stock OF the cOrp"ratl
subscribed and paid for, aud in addition
the required thirty days prior notice by pu
location Il forty days prior notice in writing
any meeting called for that purpose shall
mailed TO surh StOckhOldprS.