The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-07-15
The name and title of this corporation
The LAKE PROVIDENCE Back,


It's domicile and place for doing business
shall be in the town of Providence. parish
of East Carroll State of Louisiana It's capi-
tai stock shall he 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 fthis corporation not
subscribed for at the date of It's organlza-
ton. may be issued by the unanimous vote
OF the entire board of directors. on terms
and conditions to be fixed by the said
board; provided, that the stockholders in
this corporation at the date Of issue of said
stock shall have the fist privilege of sub
scribing to said stock, each in proportion 10
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-nne
years, and by its corporate name may sue
and be sued. plead and be implicated. ap-
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 Oh the Vice-President.
ARTICLE III.
This corporation is organized for The
purr ose of doipga general banking busi-
ness; and under the laws of this state, shall
have the power to discount bills, notes and
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, aud 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 w.
The said corporation shall he 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
for one year. or until their Successors are
duly elected and qualified. A failure to
Fleet shall not dissolve the corporation,
but the incumbent directors.i case of
failure to elect, shalt hold over until the
next annual election. or until their success
ors are duly elected and qualified.
All elections shall be conducted under
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 ofelections declining or falling
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 tie between any two or more
among the number exceeding seven re-
ceiying the highest number of votes, then
the ties shall be determined 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 a sen Having
as device two concentrie cireun ences.
separated by small anEular syzee, in
which space shall be the words. THE
LAKE PROVIDENCE BANK. and the
words, "Proyidence, Louisiana; the small
er circumference surrounding and enclos-
ing the word corporate Seal.''
ARTICLE, VI.
The stock OF this corporation shall be
transferred only on the books of the Asso-
citation. and will not be transferred until all
persons TO whom the stock is Issued has
been paid or satisfied All the stock OF this