The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-07-08
The name and title of this corporation
shall be
The LAKE PROVIDENCE BANK.

Its domicile and place for doing business
shall be in the town Of Providence. parish
of East Carroll, State of Louisiana. Its capt.
tai stock shall be Fifty Thousand Dollars.
divided into one thousand shares OF Fifty
Dollars each. The said Bank shall COM
mence business when three hundred shares
of its stock shall have been subscribed and
paid for. The stock of this corporation not
subscribed for at the date of its OrganlZa-
ton, may be issued by the unanimous vote
of the entire board of directors. on terms
and conditions to he fixed by the said
board; provided, that the stockholders I'm
this corporation at the date Of issue of said
stock shall have the first privilege of SUBJ
scribing to said stock, each in proportion to
the number of shares owned by them. The
appearers being shareholders and their
places of residence and the number of
shares held by each OF them respectively,
being set opposite their names. which said
shares are to be paid for in cash on or be-
fore August 5th, 1899.
ARTICLE II.
Said corporation shall commence its exis-
tence from the date of these presents, and
shall continue for period of ninety-nine
years, and by it's corporate name may sue
and be sued. plead and be impleaded, APP
pear, answer and prosecute, In any and all
courts of justice here and elsewhere. The
President of this Bank shall be the officer
on whom citation may be served; in his
absence on the Vice-President.
ARTICLE III.
This corporation is organized tor the
pure ose of doing general banking bust
ness: and under the laws of this state, shall
have the power to discount bills. notes aud
other evidences of debt; to receive depos-
its; to buy and sell gold and silver coins;
bills of exchange; to lend money on real
and personal security, and to exercise all
incidental power necessary to carry on the
banking business. Said corporation shall
also haye power TO hold, receive, purchase
and convey, buy, and under their corporate
name, such property, real and personal, as
may be deemed indispensable to the objects
of the Association.
ARTICLE Nv.
The said corporation shall be managed
by board of seven directors, who shall be
citizens of this state and actual stockhold-
ers Of this corporation, to be elected by
ballot on the first Monday of September OF
each year, commencing in September 1900.
The said board of directors shall hold Office
duly elected and qualified. A failure to
elect shall not dissolve the corporation.
but the incumbent directors, In case Of a
failure to elect, shall hold over until the
next annual election, or until their success
ors are duly elected aud qualified.
All eIectlOnS SnAi De COuuucteu uuCeI
the supervision of three members to be APP
pointed by the board of directors for that
purpose, and in case any one OF said COM
missioners of elections declining or failing
to act. the president shall appoint another
to fill the place.
The seven persons receiving the highest
number of votes shall be declared elected.
In case of a tie between any two or more
among the number exceeding seven re-
ceivinp the highest number of votes then
the ties shall be determin ed by casting lots.
The said board of directors shall elect
from their number president and vice.
president, also secretary and treasurer.
or cashier. The board of. directors shall
have power TO fill vacancies occurring on
the board.
ARTICLE v.
Said board Of directors shall make and or
dain such bylaws for the proper manage
ment of the affairs of said corporation as
may be necessary and proper In conformi-
ty with law, and such laws TO alter amend
or repeal at pleasure; and they shall adopt
for the use of the corporation seal, having
as device two concentric circumference,
separated by q small annular space, in
which space shall be the words. THE
LAKE PROVIDENCE BANK. and the
words. "Providence, Louisiana; the small
er circumference surrounding and enelos-
ing the word corporate Seal"
ARTICLE, vi.
The stock Of this corporation shall be
transferred only on the books Of the Assoc
citation, and will not be transferred until all
Indebtedness to the corporation by the
persons 10 whom the stock Is issued has
been paid OF satisfied. All the stock Of this
b,