The Meridional. (Abbeville, La.) 1856-1906, 1899-12-16
II ART E r
ACNE SAVING ASSOCIATION.
-OF THE
STATE OF LOUISIANA,
PARISH OF VEH2MILION.4

ana quailleu, anu Ill pltscHCG VI bHo WIZ
nesses hereinafter named and signed, per-
s~sonally came and appeared the several
persons whose names are hereulfto sub
scribed, who ~severally declared, that
vavalling themselves of the laws OF Louis
lama for the organization OF works OF
public utility and advantage n others,
they nave contracted and agreed, and do
by these presents ~convenant and agree,
and bind themselves as well as all Others
who may hereafter associate themselves
with them or their successors, to form
and constitute a corporation and body
polite in law for the objects and purposes
and under the agreements and stlpula-
tions following, t0-wit:
ARTICLE /.
The name and title Of said corporation
shall be the "Acme Saving Association"
and under it's said corporate name it shall
n have power and authority to have and
enjoy succession for the full term and
period OF ninety-nlnc years from and at
ter the date hereof to contract, sneihnd
be sued; to have aud to use a corporate
seal and the same to alter and change at
pleasure; to hold, receive, lease, pur-
chase. sell, convey, mortgage and pledge
under its corporate name property both
real I'M personal to issue bonds, to loan
I'M borrow money on security, to name
and appoint such officers, directors and
agents as the interests or need OF SAID
corporation may require, and to make
and establish such bylaws, rules and
regulations for theproper management Of
the affairs of said corporation as may be
necessary and proper. and the same co
change, alter and amend at pleasure, and
to do and perform all other acts and
things that may be required and neces-
sary to carry out the objects and purposes
OF said corporation.
ARTICLE II.
The domicile of said corporation shall
be at Abbeville, La, and all citations or
other legal process shall be served on the
president of said corporation, or i4r his
tabsence on the Vice President. and in the
absence of both on the Secretary of the
ARTICLE III.
The obieetan purposes for which this
corporation is established and the nature
sof the business to be carried on by 1T are
declared and specified to be:
1st-To furnish 10 safe and profitable
method of investing the savings of the
people, and thereby encouraging them to
save their earnings.
2nd-T0 aid the members of the a~ssacia-
ton i'll building, purchasingor improving
houses and property generally and es-
pecially homes.
3rd-To accumulate q FUND from INSTALL
mentS, rentals. premiums, interests and
subscriptions for stock, to be loaned to
members to aid them in acquiring or I'M
proving hOinesteads or other real estate
and in purchasing real estate for the benz
eit of the members and improving and
building on the same and selling the same
to member on terms convenient to them,
and for paying Oft nfatured stock.
ARTICLE w.
The capital stock shall be Five Hum
dred Thousand $500. O00) Dollars, an,l con-
sist of fl We thousand 5000 shares of one
hundred t$l00l dollars each, par value, and
be divided into the following classes:
obstetrics A Stock, to he paid for in
monthly installments of seventy cents
PER share. and one dollar per share ad-
missioA fee.
2nd-Series B Stock, to be paid for in
quarterly, semi-annlal OF annual INSTALL
ments. in such amount as shall be equiv-
alent to the monthly installInents of sew
enty cents per mouth as the bylaws may
provide with like membership fee of one
dollar per share.
3rd-FHll Paid Stock, which must be
paid for in cash at the time OF subscrip-
ton at the rate of Fifty Dollars per share.
and one d0lar admission fee per share.
4th-Deposit or Irregular Installment
Stock. the value of which will depend on
the amount paid in, and the interest ac-
cumulatlOns thereto at six per cent per
annum. Payments oil this stock may be
tmade at any time according to the ability
of the stakeholder and may be closed at
LF NAN1 49, NJ bHC VA tlL1N ulDSO1IHItluCu
as provided by bylaws.
5th-Gilarantee Stock, one hundred
shares OF this stock at the par value OF
one hundred dollars per share, amounting
% $1,000, shall be issued consecutively
and paid for in installments, as needed at
the direction of the board of directors.
The holders of this stock guarantee AL
other stockholders against all costs.
fcharges and expenses of operating the
business OF the corporation taxes eN-
sceptedi in excess of tile expense fund aris-
ing from the ten cents per share per
month. the admission, transfer and with
sdrawal fees herein provided for the eN-
Spenses 81 the corporation. And the held
ers of this stock as such, shall not parti-
sciDate in the profits, interest or benefits
OF any other class Of stock beyond the
amount set-apart and assessed as afore-
said on said stock. But the payments Of
the installments of said guarantee stock
shall only become due and payable after
due assessment by resolution Of the board
ARTICLE v.
Minors may hold shares through their
tutors or parents and married women in
their own separate right. At the close of
each fiscal year the net profits shall be APP
+portioned and q dividend credited to the
&yalue of each share inatorce in tile man
ner that may be- determined BY the direc-
Tor. whenever any series >Of shares, by
reason of payment of installments there
on, together with the interest and profits.
the accommodations and dividend credited
thereon. shall be worth tire snm of one
hundred dollars each, the shares SO arriy-
ed ut ps: shall be deemed mature, and on
surrender of the certificate sh all be liqni-
dated and paid off as determined by the
board of directors. Any shareholders of
series stock who shall fail to pay the in
stallments IN lis shares for a period of
one month after the same shall have he
come due, shall forfeit and pay u penalty
of ten cents per share per month on each
share on which he has failed or omitted
to pay the instalIments due. and such