The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1900-03-10
Act of Incorporation
OF THE
LAFAYETTE BUILDING ASSOCIATION,
STATE OF LOUISIANA,
PARISH OF LAFAYETTE,

Be it known, That on the 18th day of
February in the year of Lord nineteen
hundred, and of the independence Of the
United States one hundred and twenty
fourth, before me, Orther G.. Mouton, a
notary public, duly commissioned and sworn
in and for the parish of Lafayette, State of
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:
ARTICLEI.
The name and title of said corporation
shall be 1.-THE LAFAYETTE BUILDINGASsOCI-
ATOM and under it's said corporate name,
it shall have power to Contract; sue and be
the same to break OF alter at pleasure;
to hold, receive, lease, purchase. convey
and pledge under its corporate name, prop
erty, both real and personals; to lend money
on security; to name and appoint such Off
GERS and agents the interests and conve-
nience of said corporation may require; to
make and establish such bylaws, 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
he necessary and proper to carry out the OBJ
jects and purpose of said corporations; and
said corporation, unless sooner dissolved
under the provisions of this charter, shall
exist for period of ninety-nine (oo) years.
ARTICLE II. The domicite Of said cor
Poraton 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
!icn, or, in his absence, upon the vice Presi-
dent, or, in the absence of both of these Of
fcers, upon the secretary.
ARTICLE III. The object of this Asso-
citation shall be the accumulation of fund
from the weekly installments account of
subscriptions to the capital, rentals, pre-
miums 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 or advisable,
the loaning of money mortgage security,
in the parish of Lafayette.
ARTICLE ". The capital of said cor
poration shall be one million dollars
81, ooo,o oo,) and shall be issued in shares,
each representing two hundred dollars
($2oo,) to be paid in weekly installments Of
twenty five cents per share.
Minors and married women may hold,
subscribe for, transfer and withdraw shares
in the manner prescribed by law.
At the close of each fiscal year, the net
profits shall be apportioned and dividend
credited to the value of each share in force,
in such manner as the Board of Directors
may determine.
Whenever the shares of any one series,
by reason of the payments account of
subscriptions thereto, together with the ad-
dition of the profits and accumulations
thereon shall be worth the par value of two
hundred dollars $4,000 each, the shares re-
presenting the series SO arrived at par ShsIl
he hquidated and paid over to the holders
thereof, ON the surrender of their certificates:
and whenever the shares of the series last
issued shall be worth the par value of two
hundred dollars $4,000 each. the Association
shall be liquidated by three commissioners,
among the shareholders. The shares shall
be issued in series determined upon ny
the Board of Directors. The Board of Di-
rectors shall have the right when deemed
! advisable to issue paid up stock on the pay
ment at one time of one hundred dollars
Said paid up stock shall be transferable
| in person or by written power of attorney
and only on the books of the Association.
This paid up stock may be called in and
after giving thirty days no,ice to the owner,
upon payment of the face value, plus ac
crued interest. Notice mailed to the ad
| dress given when the stock was issued Of
| transferred shall be sufficient, and all inter
est on said paid up stock SO called in shall
| cease at the date of redemption given in sale
J notice.
! The holder Of said stock is otherwise en-
titled to all rights in the Association as pro
vlded hy the charter and bylaws. except a
| to participation in the profits of the Associa
| ton. nor can persons holding such stool
vote on such stock, nor can. they in any cas-
be members of the Board of Directors.
J The said paid up stock shall draw inter