The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1900-12-19
THE CHARTER
Of Incorporation Of the Bank Of Brook.
haven. Bro0khaven. Mississippi.

,, SEoTIoN |, Be i remembered, thai i. Y
Brady; Jr, u. Newton, Jr W. ID. Davis. I'll
Perkins, s.: Kohlman, Brookhaven Lumber and
Mfg, Co.. IL. LeWenthal, {. ;, Butterhcld, and
those hereafter associated with them, and thel
successors, are hereby constituted a body cor.
porate under the name of the
BANK OF BHO0KHANEN;
and by that name may sue and be sued beforeaBt
court; may have corporate seal; may cOntra9
and be contracted with, may acquire. and hold,
alien. incumber. and otherwise dispose of prop
erty both real and personal. necessary for tie
transaction OF its business: and generally shall
have all the powers conferred by Chapter q
Code 1892 The domicile of the said corporation
shall be Brookhaven, State of Mississippi
SEC. 2. This corporation is hereby authorized
to carry on Il general banking business. including
both the business or bank OF discount and de-
post and a savings bank with all of the powers
expressed or implied, thereto; to receive and
hold or deposit and in trust, aud rs q eetnllR
real eStalsi anu. islSdnai ptopeify.' Including
notes. bonds. obligations, mortgages, chooses h
action Of individuals. corporations, municipal
ties, states and United States; and the same 70
purchase, collect, adjust, supply, sell and dis.
pose 81, with OF without It's guaranty OF indOrSe
ment; to re eise and loan money on pledges and
securities of all finds, real or personal to act as
agent for the negotiation of loans for any indL
yldual or corporation, and to charge Such cOm'
pensation or commission as may lie agreed upon,
SEC. 3. The capital stock of said corporation
shall be fifty thousand dollars $4,000, divided
into shares of one hundred dollars 5000 each,
The corporation may commence business when
twenty five thousand dollars (S25,OOO) of the
StOfk has been subscribed and paid in, The
stockholders shall not he liable for any amount
exceeding the unpaid portion of the par valued
the stock subscribed by them respectively The
corporation shall havea lien on the stock for any
debt due to il by the subscriber or holder thtred
SEC. /. The management of the corporaton
shall be coniided to Board of Directors. TO con
slst OF three or more members, OF whom a na'
jority shall be Il quorum to transact business
Members of the Board of Directors shall al "
stockholders. and shall be elected annually M
the stockholders.
SEC. 5. When any debt to the corporation
shall be secured by deposit of collateral. or 0thd
securities, and ii shalt become necessary to sell
the corporation. it shall be unlawful for any on.
Ger or empl0ye of the bank. or member OF las
Board OF Directors, to pay the debt SO sefutel
TO the corporation and, diiectly OF Indirectly ali
prOprate The securities to his individual use anu
prolit; but such securities shall be sold and ds
posed of solely for the use, benefit and protF
the corporation.
SEC. 9. The Board of Direc' ors shall haW
power, by proper by -laWs. to fix the nllnbeE Y
officers of the bank. and TO make. adopt aD9
alter such rules ami regulations OF election Y
the bank as they may deem proper, proNldbq
such bylaws, rules and regulations shall MOI ~
in conflict with the proyslonS OF this charter, wv wv
laws and constitution OF Mississippi, or OF 'na
United States. ;
SEC. Z. The ineorpnrators. or majority q
them, may meet at such time and pace as tIio'
wish. and organize under this charter. IL.
SEC. 3. This charter shall take ellect uloh !"
approval by the Governor