The Meridional. (Abbeville, La.) 1856-1906, 1899-12-30
C H A
Or THE
ACNE SAVING ASSOCIATION.
OF THE.
STATE OF LOUISIANA,
PARISH OF VERMILION.S

state above written, duly commissioned
. and qualified, and in presence OF the Wit
nesses hereinafter named and signed, per-
~sonally came and appeared the several
persons whose names are hereunto SUD
scribed, who severally declared, that
awaiting 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 we'll as all Others
who may hereafter associate themselves
with them or their successors, to form
and constitute a corporation ana body
polite in law for the objects and purposes
and under the agreements and stipula-
lions following, to-wlt:
ARTICLE /.
The name and title of said corporation
shall be the "Acme Saving Association"
and under its said corporate nam 1T shal
have power and authority to have and
enjoy succession for the full term and
period of nin%ety-nine years from and at,
ter the date hereof to contract, sue ana
De sued to have and to use a corporate
seal and thes same to alter and change at
pleasure; to hold, receive, lease, pur-
chase. sell. convey, mortgage and pledge
under its corporate name property potn
real and personal; to issue bonds. TO loan
and borrow money on security, to name
and appoint such officers, directors ana
agents as UUG IHUGEBSBS VI HCCu o1 SoAu
corporation may require, u to make
and establish such bylaws, rules and
regulations for the proper management OF
the affairs of said corporation as may be
necessary and proper. and the same TO
change, alter and amend at pleasure, and
to do and perform all other acts and
things that may be required and neces-
.sary to carry out the objects and purposes
of said corporation.
ARTICLE II.
The domicile of said corporation shall
be at Abbeville, La, and all citations or
other legal process hall 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.
ARTICLE III.
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 a%ssocia-
ton in building, purchasing or improving
houses and property generally and es-
pecially homes.
3rd-fo accumulate a fund from INSTALL
ments, rentals, premiums, interests. and
gu b9I " SUNNI ~ ~ FsiA@ w
members to aid them i'll acquiring or i'm
proving homesteads or other real estate
and in purchasing real estate for the ben
eft of the members and improving II
building on the same and selling the same
to members on terms convenient to them,
and for paying Oft matured stock.
ARTICLE ".
The capital stock shall be Five Hun
dred Thousand fS500, G00l Dollars, anil con-
sist of fl i've thousand $4,000 shares of one
hundred (Sl90l dollars each, par value, and
be 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.
2nd-Series B Stock, to be paid for in
quarterly. ~semi-ann6al or annual INSTALL
ments. III such amounts as shall be equiv
alent to the monthly installments of sew
enty cents per month as the bylaws may
provide with like membership fee of one
dollar per share.
3rd-Full Paid Stock, which must be
paid for In cash at the time of subscrip-
ton at the rate of Fifty Dollars per share.
and one dollar admission fee per share.
4th-Deposit or Irregular Instaliment
Stock. the value of which will depend on
the amount paidin. and the interest ac-
foundations thereto at six per cent per
anpum. Payments on this stock may be
made at any time according to the ability
# ol blb ChuUI uILu fuut NC CIOStG db
the option of the owner and discontinued
as provided by bylaws.
5th-Gnarantee Stock, ono hundred
shares of this stock at the par value of
one hundred dollars per share, amounting
to $4,000, shall be issued consecutiyely
II 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,
charges and expenses Of operating the
business OF the corporation taxes eX-
ceptedl in excess of the expense fand arts
ing from the ten cents per share per
month. the admission, transfer and with
drawaI fees herein provided for the ex-
penses of the corporation. And the hold
ers of this stock IT'S such, shall not parti-
ciDate in the profits, interest or benefits
of any other class of stock beyond the
amount set-apart and assessed as afore-
said on said stock. Bnt the payments of
the installments of said guarantee stock
shall only become due and payable after
due assessment byresolution Of the board
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
portioned and n dividend credited TO the
value of each share in force in the man
ner that may be determined by the direc-
tor. Whenever any series of shares, by
reason of payment of installments there
on, together with the interest and profits.
the accommodations IL 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 shall 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
stallmentso on his shares for 4 period Of