The Greenville times. [volume] (Greenville, Miss.) 1868-1917, 1898-09-17


ESerman, n. Goldstein, ) II Robb. J
brown, S McCutohen, VIM, Isenberg, Lyr
Startling, W W stone. p. =. mass. 4. \
lhomas Van Il. B0ddlc Henry T. Irsys, Jr
ana thclt AZ oclates aud successors are, by tn
GheTter, incorporated under the name OF ii
Greenylllr, MsS. and BY that name nav an
aud be hllrd plead and be impeaded IN
courts OF law and equity may adopt a corpa
rate seal, and utter the same nj pleasure and 4
d general may passeig all the rights p0yers an
u privileges conferred by The laws ~ this stat
= on corporations, created IN the mode and MAJ
her provided In Chapter % Of the Code Of lS9l
Whith are not inc nslstent with the purpose
and provisions Of hls charter
, hHllCLh IL. section L. The purpose fol
| winch tins corporation IL formed n the aeon,
% mutation Ofa fund W' ish may he loaned On
GOOD req estate secu ijv, 10 the msmbars there.
u, enabling them 70 purchase homes; and "a
HSaS s s.C other lnyc ment' as may be pro-
'I,sI ior IN NE charter
ARTICLE III sectipul The stock Of this
NHsocnuon shall Do limited to one Thousand
anaI 81, OF Two hundeld dollars each, in any
one olass or series
SECTION No one person M firm, sss Arm
ala'I l,glu more man sd shares OF stock In any
ome heTles or TINS Association provided. how
sNoli mat parents or guardians may hold stock
loT minors In manner provided BY law
section .. All cert Incatcs II stock must be
gnsu nI the president aud pttested by the
secretary win the seal OF tho Annexation nj
''Sheu, ana must be numbered aud recorded
Seot.3h on each share there shall Ia paid
monthly lnstallment Of one dollar, In nj
vance. Persons wishing 10 lake stock IN any
| ohe series shall pay up all installments which
| may nave become due on such series tuQetb.r
r!tn sueh premiums ON the same A. the board
ARTICLE ~. Section The Snnir. oftbI,
| association shall be managed by a board of
uIf.ttors, VINO shan he stockhoder, Of Tho Ns-
| sorlat'ou, ana four OF whom shall ,IU,t, ha
| non, borrowing Stockholders said directors
.uail ne elected annually ut such time and place
NJ tne bylaws shall provide; but If ut any
hIlc IOur OF sHld directors shall become hOr-
roNels from said A sSOciAtiOn then the onls.
| Oh tne lasl director borrowing shall become i'm
nnneu,a,eIy Vacadt' and his successor shall be-
elected nt once as hereinafter nroviJad fnr
The election Of directors shall be nv bnIIoi
| auowlng one vote 10 eJch share SlpckhoIdcrs
nUs pei,sonai,iy present may vote by proxy
HAM HAM ~ WE,iInE 70 ne persons representing
tiIelll az the SAID election.
. oecuon :. The board Of directors shall at |
sIlo uIoI regular meeting Of the board succeed.
ING each election choose ono of thoIr number
as president, and one az vlcc-preaidrnt Tbsy
shiii also appoint q secretary a treasurer, ana !
an attorney, or attorneys. and such other ON
o,s anu asslat4nts as may seem TO them nee
esasly prescribe their duties and nN their com
pensntn n snd they shall require the secretary |
shd treasurer to make bond each IN ruarnii- /
W. Conpahy 70 be approved by the president /
!he secrettr" bond shall be in n sum of moi |
ess than three thousand dollars, and the rrcas-
Hrer bond shall b9 in a sum not lass than /
~ 'ihousanu loilarsi the condition Of each eff
SUI DQhds snail be for the faithful discharge |
Of the duties OF each of their Offices respecIivc.
:! Dut me board may atnny time increase the |
peuuIle7 o. Glther or both Of said bonds Tho /
SCARF shall have fun control of all books, rs
Pet5 amt property feVery dcscrIptIon belong
my 10 we association, aud the bOurd'shAll sub /
ii,G 10 {ne stockholder5 at each annual meeting
complete report Of the AssOclatIouis con1Ie /
uth snu OF the transactions during thu ypar
section B. The board Of directors shall nave
power Pow. 10 make and adopt such rules and by
!tHWS Ior me government OF the Association A.
this charter.
o, Section IL, & Vacancies in the Board shall be
ntleq by election, ~ provided in Article "
section at special meeting to be ca led bv
me president FOR that purpose
AhI tCIE Section The president shall
%onra ~ ~ ,ne hr,t regular meeting Of the
ISl after the election appoint from their mum
Der finance committee Of three, whose duty
1 Slait ne TO Nct IN conjunction with the prcsi-
ign 10 examine and audit all claims against
the Association They shall repor In vriiing
Al me last monthly meeting of the corporate
year: giving full statement of HE financial
COM con lIlon OF the Association to the board OF -
ttettofs and majority Of the committee shall
be competent to act
section ? The president shall.uI at the
.tilc liIle ana IN the same mann r appoint
suhll De to examine and determine the yolue of
MI securities offered 10 the Association and re-
pD 1 Loelr conclusions to the president and H.
nance committee for notion A majority Of the
committee shall be competent to ACT
section .. The above commlttuea muy atopt
sus4 lies for their government as they may {
I
ARTICLE VI. Section Al the Etnted
monthly meetings of the Association the funds
1 b, nen o y amounting to one share or mere,
IAu ne offered for loan, and The stakeholder
Who shall bid the highest premium for IN Of
renee or lilorlty of loan shnll he entitled To
S 5ce loan Of two hundred dollars for each
,oaT o., STOCK hed ny such stookhoder; and
,onu anu ample security shall be given By the
10 secure the repayment of tho loan
n Ga ,t ne borrower shall neglect to nIor So
turtles within ten days, or shall offer such So
4 n o1rl NJ IA
cctQrs, he or she shall be char. Cd with one
honth interest, together with my expenses
nat may be incurred, and the money shall he
e-sold Mt the next stated meeting
section 3 In case of nOnpaymeut of install
nents Of Interest for the period ofthreo months
nyinont OF same without deducting the prsmi-
III Palu OF interest on same may he enforced
y proceeding on their eeCurties according TO
ne Iotih' Of the contract under which the loan
male and the Board shall not have the pow
! 70 eNlenu suCh payments except by consent
tWo- thirds of The stockholders expressed at
special meeting called by the president for
Section 3 Interest on all Ioaus shall he nj
ne rate Of ten per cent per annum from date Of
pan an the amount actually loaned, nd shall
e PAID IN monthly lnstallments at The same
me ana place that regular dues are paid
section All fees for examination of titles fC
u Ionns, and preparing and recording papers
lnll be paid by the borrower
section D. When m0mber receiving lonu
e en- 70 mud 0rimprove property the money
lay nc advanced in sums necessary for the
rosecutlon or the work until Its conviction |
is nSs9ciation executing an agreement to thai N,
lect NJ its own expenee, In sush case the -
OiroWer snail present 3 certificate from the
uuuer engaged In the work, certified TO nv | -
&c cI'uF hnan OF ths valuation committee Of the
Oaru OF directors Of the sum necessary for the n
1rpOse ~ | u
Section s The valuation committee .holI
ave ave tnG right to require any borrower 10 In =
.ease hls security If Mt any time they find the
hlue OF me same deprecated below the amount
.s ~ aGSS,epted oy Them ns sufficient aud In 30
~ niIC n hIoIlcai0n of sane, unless the Dor
e property o. repRyhg part of the losu, The
1a-d 9tdireotors shall have the right 10 pro-
ed against such borrower and his securities
per terms OF contract.
ARTlCEI VII Section Shqres On which
ans nave been may be Transferred, subject 10
Re rights OF the Association, in the following II
amer: First, when the assignee il tho mr. |
luser of the mOrigaged promises The shsSes
ay be transferred 10 him upon his Assuming III
e obu legations of the aSsiTnoE aud becoming q
laser OF tho s,ares may substitute, a. his own
Pehee, yther property satisfactory to the fl
!, IlhtAon committee, MS security for the loan. :,
men me Lrst mortgage shall be cancelled aud Is
.stoyed intro the mortgager. by paying tho
mount OF money loaned, with all interest due -
ny receive hack his shares so as to transfer
Section 2 On the arrival of any minor IN
age of2i years the board of directors may
Anster TO him or her the shares of stock held
ny or her name, and they shall be entitled
all the privileges Of stockholders
section ;. Members who transfer their shares
otners must DO so on the transfer books Of q
e Association, surreudering old certificates E,
III Paying transfer fes OF Is cents II
ARTICLE VIII. Section l. When the AGaSts fl
this Association. as shall he determined by
9 soard Of directors. shall reach the par lC
Ilue OF oil shares Of stock OF any one serica i'm
rec, the affairs of such series shall be put in ,
lumaton, aud each and every member of
ch serlet shall receive The fall par valus Of
shares held Ivy hsal or her, either In cash or
his OF her own seCuritles, and all liens Of Il
cord IN such series shA'l be satisfied and dis l.
arged Provided, however, that no stock {
'lder shall be entitled to have HE or nor srru- ,
lies returned or liens Of record against him y
tsled, until al dues, fines md other charges {,
hich he may owe the Association IRE paid ~