The Meridional. (Abbeville, La.) 1856-1906, 1899-12-30

W garry Oil uu6 DuSIQeSS lOE WHICH III
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 as may be necessary for the prop
er transaction OF its business; 2nd, Such
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 previouslyscontract-
ed, bona fide in the course of its bust
ness; 4th, Such as it may purchase at
sale under Judgment or mortgages held
by it, or in which it may have an in
teresT, by being %subrogated to the
rights, according to Article 2l57 of the.
Civil Code to make and use a corpor-
ate seal having as a device a circular
disc on themargin of which is inscribed
ssTHE BANK OF VERMILT0N,
Incorporated January l, 1900" and in
the center an American Eagle; to name
and appoint such managers and direc-
tors to administer the affairs of the
corporation as may be necessary and
proper. and TO 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 or
poration as may be necessary and
proper 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.
1T shall be a going corporation with
a capital stock of Twenty Five Thous-
and 1925. G00,00) Dollars. and shall be
authorized to begin business as COR 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
holders and their places of residence
and the number of shares and amounts
held by each of them respectively be-
ing set forth opposite the signature of
each Of them All stock subscribed
shall be paid up in full in lawful mon
.ey of the United States within twelve
months after the corporation shall
have commenced business and upon
call of the Board of Directors.
ARTICLE ".
The said corporation shalleommance
operation from the date. January /.
1900 and shall exist for the period Of
ninety mine years unless sooner dis
solved.
ARTICLE Y.
All the corporate powers of this o
.poration shall De exercised by Il board
of directors composed Of seven stock
holders of the corporation, each hold
ing in his own name. or in the name
of a firm Of which he may be anemher.
at least FIVE shares of the stock Of said
corporation. They shall be elected an
nually at a general meeting of the
stockholders convened for the purpose
at the banking honse of said corpora
ton, on the first Monday OF January of
each year commencing in 1901. Pre-
vious notice. of at least ten days shall
be given of each election by publication
in a newspaper published in the town
of AbbeVilie, La, and also by written
notice addressed to each stakeholder.
Said election shall be conducted by
three stockholders not members of the
board to be appointed by the board for
that purpose, and at each election the
persons receiving the highest number
of votes east shall be declared cleo ed.
In case OF no election on the day fixed
the president shall cause an election to
be held thereafter as 500 as possible
on giving the above required notice.
A failure to elect a board of directors
shall not forfeit the charter but the di-
rectors in office shall remain until their
successors shall have been elected and
shall have taken their places. All cleo
tions shall be by ballot and each stock
holder shall be entitled in person or by
written proxy to cast n vote for. each
share of stock held by him, or her. The
board Of directors shall at their first
meeting after their election elect from
among their number a president, and a
vice-president. Said board shall also
select some suitable person to act as
cashier. and also such other help or as
sistance as may be %requlredfor thesafe
and proper conduct Of the affairs of the
corporation and they shall fix the com
pensation ofsuch.persons or employees,
and require bond and security as they
may deem proper. They shah make
and adopt bylaws, rules and regula-
tons for the government of the corpor-
alton and the transaction of its affairs
and business and alter the same at