The Meridional. (Abbeville, La.) 1856-1906, 1900-01-13
C r z r
ACME SAVING ASSOCIATION.
STATE OF LOUISIANA,
PARISH OF VERMILION.S
THE

PARISH OF fEkMlLlON.
Be it known that on this the 18th day
of November, A.. D., 1899, before me,
WILLIAM PIERREP0NT EDWARDS, a no,
tary public, in and for the parish ana
state above written, duly commissioned
and qualified. and in presence of the wit
nesses hereinafter named aud signed, per,
Sonally came and appeared the several
persons whose names are hereunto SUD-
scribed, who seyeraily declared. that
awaiting themselves Of the laws OF Louis.
lana for the organization OF works OIL
publicutility and advantage and others,
they nave contracted and agreed, ant 40
by these presents ~convenant anu agree,
and bind themselves as well as all others
who nay hereafter associate themselves
with them or their successors, 70 form
aud constitute a corporation ana bouy
polite in law for the objects and purposes
and under the agreements II btlpula-
lions following, to-wit:
ARTICLE I.
The name and title Of said corporation
shall be the "Acme Saving Association"
and under its said corporate name 70 shai,
have power and authority to have and
enjoy succession for the full term and
period of ninety-nine years from and al,
ter the date hereof; to contract, sue ana
be sued to have aud to use q corporate
seal and the same to alter and change az
pleasure; to hold, receive, lease, pur-
chase, sell, convey, mortgage and pledge
under its corporate name property both
real and personal; to issue bends, to loan
and borrow money on security, to name
and appoint such officers, directors and
agents as the interests or need OF SAID
corporation may require, ana 70 make
and establish such bylaws. rules and
regulations for the proper management OF
the affairs of said corporation ms may be
necessary IL proper. n 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 shall 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
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 o 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 associa-
tion in building, purchasing or improving
houses and property generally and es-
pecially homes.
3rd-To accumulate a fund from INSTALL
ments,. rentals, premiums, interests and
subscriptions for stock, to be loaned to
members to aid them III acquiring or inn
proving homesteads OF other real estate
and in purchasing real estate for the ben
eft of the members and improving and
building on the same and selling the same
10 members OH terms convenient to them
and for paying Oft matured stock.
ARTICLE Nv.
The capital stock shall be Five Hun
dred Thousand $500, OO0l Dollars, and CON
sist Of five thousand $4,000 shares of one
hundred [$l001 dollars each, paryalue, and
he 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-annual or annual INSTALL
ments, in such mounts as shall be equiv
alent to the monthly installments of sew.
geIty 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 i'll cash at the time of subscrip-
bIutt db LllC IdbCO III Il tbJ D0lIdIc pEI DIiitlCs
and one dollar admission fee per share.
4th-DepGsit or Irregular Installment
Stock, the value of which will depend on
the amount paid in, and the interest ac-
.cumulations thereto at six per cent per
annum. Payments on this stock may be
made ut any time according to the ability
of the stakeholder and ma be closed at
the option of the owner and discontinued
abs provided by bylaws.
5th-Guarantee Stock, one hundred
shares of this stock at the par value of
one hundred dollars per share, amounting
to $4,000, shall be issued consecntively
and 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-
gcepted) in excess of the expense fnnd aris-
ing from the ten cents per share per
month, the admission, transfer and with
drawal fees herein provided for the eX-
penses of the corporation. And the hold
ers of this stock AS such, shall not parti'
scipate 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. But the payments o.
the installments of said guarantee stocE
shall only become due and payable after
due assessment by resolution OF the board
ARTICLE v.
Minors may hold shares through theii
tutors or parents and married women il
their w separate right. At the close oi
each fiscal year the net profits shall be ap
portioned and d dividend credited to tile
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 and dividend credited
thereon, shall be worth the sum of on
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