The Lafayette gazette. [volume] (Lafayette, La.) 1893-1921, 1900-03-03
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 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
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 availipg 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
NAV hereafter become members of this AS
ISOLATION for the objects and purposes and
under the stipulations following, to wit:
ARTICLE I.
The name and title of said corporation
shall be THE LAFAYETTE BUILDINGASsoCI-
ATOM and under its said corporate name,
| it shall have power to contract; sue and be
sued; to make and use corporate seal and
| 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 personal; to lend money
| on security; to name and appoint such OH
| GERS and agents as 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
| lie necessary and proper TO carry out the OBJ.
| iects and purpose of said corporations; and
| said corporation, unless sooner dissolved
| under the provisions of this charter, shall
| exist for a period of ninety-nine (o9) years.
| ARTICLE II. The domicile of said cor
| poration shall be in the town of Lafayette,
| parish of Lafayette, State of Louisiana, and
| all citations other legal process shall be
served upon the president of said corpora
! lion, or, in his absence, upon the vice-Pre
dent, or, in the absence OF both OF these or
fcers, upon the secretary.
! ARTICLE III. The object of this Asso
| citation shall be the accumulation of fund
from the weekly installments on account OF
subscriptions to the capital, rentals, pre-
| miums and loans the funds accunlula ted
| to be used for the purchase and sale of rea
estate, the building. rental and sale o.
homesteads. and 7oAen necessary or aaa'fSabIc
the loanng of money on mortgage security
in the parish of Lafayette
ARTICLE w. The capital of said cor
poration shall be one million dollar:
Isl 900, ooo,) and shall be issued in shares
each representing two hundred dollar:
($2oo,) to be paid in weekly installments o.
twenty five cents per share.
Minors and married women may hold
subscribe for, transfer and withdraw shares
in the mannef prescribed by law.
At the close of each fiscal year, the ne
profits shall be apportioned and DIVIDEND
credited to the value of each share in force
in such manner as the Board of Director
may determine.
Whenever the shares of any one series
by reason of the payments on account o
subscriptions thereto, together with the ad
dition of the profits and accumulation
thereon shall be worth the par value of tw'
hundred dollars $4,000 each, the shares re
| presenting the series SO arrived at par Sh9l
he liquidated and paid over to the holder
thereof, on the surrender of their certificates
and whenever the shares of the series las
issued shall be worth the par value OF tw
hundred dollars $4,000 each. the Association
shall be lquidated by three commissioners
selected by the Board of Directors fror
, among the shareholders. The shares sha
be issued in series as determined upon %
the Board of Directors. The Board of ID
rectors shall have the right when deeme
: advisable to issue paid up stock on the pay
r ment at one time of one hundred dollars.
Said paid up stock shall be trrnsferabl
in person or by written power OF attorney
, and only on the books of the Association.
This paid up stock may be called in an
7 cancelled at any time by said Association
: after giving thirty days no,ice to the owner
upon payment of the face value, plus az
crued interest. Notice mailed to the az
s dress given when the stock was issued
. transferred shall be sufficient, and all int
est on said paid up stock so called in sha
cease at the date of redemption given in sal
. notice.
= The holder OF said stock is otherwise e'
J. titled to all rights in the Association as pr
vided by the charter and bylaws, except
to participation in the profits OF the Assoc'
It ton nor can persons holding such stoe
vote on such stock, nor can they IN any ca
y be members of the Board of Directors.
The said paid up stock shall draw int