The Meridional. (Abbeville, La.) 1856-1906, 1899-12-02

lNAA tNhbNA = 4 'SSkAtitJ > S"4N ~ -
ercise all incidental powers necessary
to carry on the business for which it
is organized. TO have and enjoy !
succession in its corporate name; to
contract, to sue and be sued, plead and
be implicated, appear, answer and pros
ecute in any and all courts of justice
and elsewhere, to hold, receive, pur-
chase and convey, by and under its
corporate name, such property, real
and personal, as may be indispensable
to the objects Of the corporation, LIST,
Such us may be necessary for the prop
er transaction of its business; End, Such
as shall have been mortgaged to it in
good faith as security for loans; 3rd
Such as shall be conveyed to it in sat
isfaction, for debts previously contract
led, bona tide in the course of its bust
ness; 4th, Such as it may purchase at
sale under Judgment Q" mortgages held
by it, or in which it may have an in
%teresU, by being subrogaled to the
rights, according to Article 2l57 of the
Civil Code to make and use a corpor-
ate seal having as a degica a circular
disc on themargin of which is inscribed
"THE BANK OF VERHILION,
Incorporated January l, 1902 and in
the center an American Eagle; to name
and appoint such managers and dlfec-
tors to administer the affairs of the
corporation as may be necessary and
proper and 70 fix the compensation OF
all persons in its employment, provided
all the directors and managers shall be
citizens of this State. To make and
ordain such bylaws for the proper
management of the affairs of the cor
pdration as may be necessary and
praper and in conformity with the pro-
!, visions of law and these Articles OF in
corporation and such bylaws to repeal,
alter and annul at pleasure.
ARTICLE III.
It shall be IL going corporation with
a capital stock Of Twenty-Five Thous-
and ($25. coo. 00) Dollars. and shall be
f authorized to begin business as 500 as
+ Fifteen Thousand Dollars shall have
been subscribed. Said capital stock
shall be divided into Two Hundred and
Fifty shares of One Hundred Dollars
each the appearers being the share
l holders and their places Of residence
and the number Of shares and amounts
/; held bv each of them respectively be-
:, ing set forth opposite the signature OF
t. each of them All stock subscribed
t shall lie paid up in full in lawful mon
Q ey of the United States within twelve
months after the c%orpdcation shal!
/, have commenced business aud upon
e call ot the Board of Directors.
ARTICLE Nv.
Thc said corporation shall commence
!, operation >frum the date, January !.
1890 and shall exist for the period %
:, ninety-niue years unless sooner dis.
: solved.
> ARTICLE Y.
All the corporate powers of this cor
g porution shall De eyeEti&od by q hnarf
/ of directors composed nf seven stork
y. hoiGers,nf the corporation, each hold
|, ing in his " name. or in the namf
Y of Il firm of which he may he a member
y at least five shares Of the stock Of sale
70 corporation. They shall be elected an
\. nuallv at u general meeting OF Thu
n stockholders convened for the purpoSt
e at the banking hoase Of said corpora
ton, on the first Monday of January o
n each year commencing in 1901. Pre-
e vious notice Of at least ten days sh al
g be given of each election By publication
III in Il newspaper published in the tow
Of AbbeviIle, Ia, and also by write!
~ notice addressed to each stakeholder
n, Said election shall be conducted b.
d three stockholders not members ofth
I'd board to be appointed by the board 70
that purpose, and at each election th
persons receiving the highest humble
of votes cast shall be declared cleo ed
- In case of no election on the day fiXe'
the president shall caHse an election t
be held thereafter as soon as possibl
Oh giving the above required notice
i, A failure TO elect a board of director
u shall not forfeit the charter but the di
!" ~rectors in office shall remain until thei
successors shall have been elected an
shall have taken their places. All cleo
lions shall be by ballot and each stock
holder shall be entitled in person or b
written proxy to cast one vote for eac
y share Of stock held by him, or her. Th
o. board of directors shall at their frs
10 meeting after their election elect troI
among their number a president, and
vice president. Said board shall ais
D. select some suitable person to act a
cashier, and also such other help or as
ne ~sistance as may be required for thesaf
D. and proper conduct of the affairs Of tn
ng corporation and they shall fix the CON
p%ensation ofsuch persons or employees
20 and require bond and security as the
ne may deem proper. They shall MAX
and adopt bylaws, rules and reguls