The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1899-07-22
The name and title Of this corporation
shall he
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 capl-
| tai stock shall be Fifty Thousand Dollars.
divided into one thousand shares OF Fifty
| Doi.ars eaeh The said Bank shall CON-
menee business when three hundred shares
! of its stock shall have been subscribed and
paid for. The stock of this corporation not
| subscribe 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 0fissue of said
stock shall have the first privilege of sub
| 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, 1909.
ARTICLE III.
Said corporation shall commence its exis-
tence from the date of these presents, and
| shall continue for period of ninety-nine
| years, and by its corporate name may sue
and be sued. plead and be implicated, 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 for the
purpose of doing general banking bnsi-
ness; anc 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, 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 ~.
The said corporation shall he managed
hy n 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
| failure to elect, shall hold over until the
next annual election, or until their success
| ors are duly elected and qualified.
A
| the supervision of three members to be ap-
pointed by the board Of directors for that
purpose, and in case any one of said COM
missioners of elections declining or falling
| to act the president shall appoint another
| to fill the place. .
| number Of votes shall be declared elected.
| In case Of a tie between any two or more
| among the number exceeding seven re-
ceiving 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 a secretary and treasurer.
or cashier. The board of directors shall
| have power to fill vacancies occurring on
the board.
ARTICLE
| 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 coniormi-
| ty with law aud 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 a 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 enclos.
ing the word corporate Seal"
ARTICLE, VI
The stock of this corporation shall bt
transferred only on the books OF the Asso
citation. and will not be transferred until al
Indebtedness to the corporation by thu
persons 10 whom the stock Is issued ba.
been paid or satisfied. All the stock OF Thu