The Meridional. (Abbeville, La.) 1856-1906, 1899-12-23
C. Fl A r T E r
or THE
ACNE SAVING ASSOCIATION.
STATE OF LOUISIANA,
PARISH OF VERMILION.S
.-OF THE

state ABOVE WTlGGeH, uuly GOulLuiSSlohou
and qualified, and in presence OF the VIII
nesses hereinafter named and signed, per-
ssonally came and appeared the several
persons whose names are hereunto sub
-scribed, who ~severally declared, that
savalling themselves of the laws OF Louis.
lana for the organization of works OF
public utility and advantage and others,
they have contracted and agreed, and DO
by these presents covenant and agree,
and bind themselves as well as all otneFs
who may hereafter associate themselves
with them or their successors, TO form
polite in law for the objects and purposes
and under the agreements and Stlpula-
:tions following, to-wlt:
ARTICLE I.
The name and title of said corporation
shall be the sAcme Saving Association
and under it's said corporate name 1T shall
have power and authority to have ana
enjoy succession for the full term and
period of ninety-nine years from and ats
ter the date hereof; to contract, sue and
he sued; to have and to use q corporate
seal and the same to alter and change at
pleasure; to hold, receive, Lease, pur-
chase, sell, convey, mortgage ana pledge
nnder it's corporate name property both
real and personal to issue bonds, to loan
and borrow money on security, 20 name
and appoint such officers, .directorsfand
agents as the interests or need of SAID
corporation may require, and to make
and establish such bylaws, rules and
regulations for the proper management OF
the affairs of said corporation as may be
necessary, n proper. and the same 20
change, alter and amend at pleasure, ana
to do and perform all other acts and
things that may be required and neceS-
.sary to carry ont the objects aud 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 in his
absence on the Vice President. and in the
absence of both on the Secretary of the
corporation.
ARTICLEI LII.
The object and purposes for which this
corporation is established and the nature
of the business to be carried ON by it are
declared and specified to be:
1st-To furnish a safe and profitable
method of investing the savings of the
people, and thereby encouraging them to
save their earnings.
2nd-To aid the members of the associa-
stion in building, purchasing or improving
houses and property generally and eS-
,pecially homes.
3rd-To accumulate q fundfrom INSTALL
.ments, rentals, premiums, interests and
odD OS1l OAO " cGpCh3 w ~ viz W.
members to aid them in acquiring or i'm
proving homeSteads or other real estate
and in purchasing real estate for the BEN
: eft of the members and improving n
building on the same and selling the same
ITO members on terms convenient to them,
and for paying off matured stock.
{ ARTICLE Nv.
The capital stock shall be Five Hun
,dred Thousand $500, 000t Dollars, and con-
tciSf of ii on thouS nd {5OH0l shnrpS nf ona
hundred ($lD0) dollars each, par value, and
he divided into the following classes:
1st-Series A Stock, to be paid for in
monthly ,installments Of seventy cents
per share. and one dollar per share adj
mission fee.
2~nd-Series B Stock, to be paid'fo in
quarterly, ~semi-annual or annual INSTALL
ments, in such amounts as shall be equiv
.alent to the monthly i~nstallments of sew
.enty cents per month as the bylaws may
provide with like membership fee of one
dollar per share.
3rd-Fnll Paid Stock, which must be
paid for in cash at the time of subscrip-
tibn at the rate of Fifty Dollars per share.
and one dollar admission fee per share.
4th-Deposit or Irregular Installment
Stock. the value Of which will depend on
the amount paidi in, and the interest ac-
foundations thereto at six per cent per
tannum. Payments on this stock may be
made at any time according to the ability
of the stakeholder and may be closed at
sthe option of the owner and discontinued
us provided by bylaws.
5~th-Guarantce Stock, one hundred
sshares of this stock at the par value Of
zone hundred dollars per share, amounting
to $4,000, 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,
echarges and expenses of operating the
business of the corporation taxes ex-
scepted) in excess of the expense fund aris-
ing from the ten cents per share per
month, the admission, transfer and with
.drawal fees herein provided for the ex-
.penses of the corporation. And the hold
erS of this stock as such, shall not parti-
scipate in the profits, interest or benefits
of any other class of stock beyond the
iamount set-apart and assessed as afore1e
said on said stock. But the payments of
the installments of said guarantee stock
shall only become due and payable after
due assessment byresolntiOn Of the board
,of directors.
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
iportioned and q dividend credited to the
value of each share in force in the man
sner that may be determined by the direc-
Etor. 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 the sum of one
hundred dollars each, the shares so arriv-
ed at par shall be deemed mature, and on
surrender of the certificate sb all be liqui-
dated and paid off as determined by the
.board of directors. Any shareholders of
series stock who shall fail to pay the in
,ctaIIrnautS On his SbaraS for n narind of
sone month after the same shall have be-
come due, shall forfeit and pay a penilty
of ten cents per share per month on each
share on which he has failed or omitted