The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1900-02-24
Act of Incorporation
or THE
LAFAYETTE BUILDING ASSOCIATION.
STATE OF LOUISIANA,
PARISH OF LAFAYETTE.


Be it known, That on the 18th day Of
February in the year of our Lord nineteen
hundred, and of the independence Of the
United States one hundred and twenty
fourth, before me, Orther G. Mouton,
notary public, duly commissioned and sworn
Louisiana, and in the presence CT witnesses
herein after named and undersigned, per
sonally came and appeared the parties
whose names are subscribed, who declared
that availing themselves of the provisions OF
the statutes of Louisiana, relative to the or
ganization of corporations. they covenant,
agree and bind themselves, and those who
may hereafter become members of this AS
ISOLATION for the objects and purposes and
under the stipulations following, to wit:
ARTICLE
The name and title of said corporation
shall be THE LAFAYETTE BUILDINGASsOCI-
ATION,' and under its said corporate name,
it shall have power to contract; sue and be
the same TO break or alter at pleasure;
to hold, receive, lease, purchase. convey
and pledge under its corporate name, prop
erty, both real and PERSONAL; to lend money
on security; to name and appoint such Off
GERS and agents as the interests and conve-
nience of said corporation may require; to
make and establish such y-laws, rules and
regulations for the proper management and
regulation of the affairs of said corporation
as may be necessary and proper, and the
same TO change and alter at pleasure, and
to do all such acts and things as are or may
be necessary and proper TO carry out the OBJ
Jects and purpose of said corporations; and
said corporation, unless sooner dissolved
under the prov sions of this charter, shall
exist for period of nine y-nine (oo) years.
ARTICLE II. The domcle Of said cor
Poration shall be in the town of Lafayette,
parish of Lafayette, State of louisiana, and
all citations or other legal process shall be
served upon the president of said corpora
lien, or, in his absence, upon the vice resi-
dent, or, in the absence OF both of these Of
ficers, upon the secretary.
ARTICLE III. The object of this Asso-
citation shall be the accumulation of fund
from the weekly installments on account of
to the capital, rentals, pre-
niums and loans, the funds SO accumulated
to be used for the purchase and sale of real
estate, the building. rental and sale of
homesteads. and zoAeu necessary naSisabLe,
The loaning of money mortgage security,
N the parish of Lafayette.
ARTICLE ". The capital of said cor
ooration shall be one million dollars
Zach representing two hundred dollars
$2oo,) to be paid in weekly installments of |
wenty- five cents per share.
Minors and married women may hold, |
n the manner prescribed by law.
At the close of each fiscal year, the net
Profits shall be aPportioned and a dividend
redited to the value of each share in force,
u SuCh HauneE as INC DOard OF directors
nay determine.
Whenever the shares of any one series,
~ reason of the payments account of
inscriptions thereto. together with the adj
ition of the profits and Accommodations
hereon shall be worth the par value of two
hundred dollars $4,000 each, the shares re-
the series arrived at par sholl
re liqudated and paid over to the holders
hereof, on the surrender of their certificates;
nd whenever the shares of the series last
'sued shall be worth the par value of two
undred dollars $4,000 each. the Association
hall be hquidated by three commissioners,
elected by the Board of Directors from
mong the shareholders. The shares shall
he Board of Directors. The Board of Di-
ectors shall have the right when deemed
dvisable to issue paid up stock on the pay
rent at one time of one hundred dollars.
Said paid up stock shall be transferable
person or by written power of attorney,
nd only on the books of the Association. /,
This paid up stock may be called in and I
ancelled at any time BY said Association I
tier giving thirty days notice to the owner I
pom payment of the face value, plus ac- {
'ued interest. Notice mailed to the adj I
ress given when the stock was issued or
ansferred shall be sufficient, and all inter /
t on said paid up stock SO called in shall j
:ase at the date of redemption given in said i
,tice.
The holder of said stock is otherwise en- t
led to all rights in the Association as pro- e
ded by the charter and bylaws, except as |
participation in the profits of the Associa- >
on. nor can persons holding such stock a
tie on such stock, nor can they in any case s
members of the Board of Directors. c
The said paid up stock shall draw inter- I