The Meridional. (Abbeville, La.) 1856-1906, 1900-01-06

1890 ~ y 80 AAob0y VIZ
real and personal security, and to ex-
ercise all incidental powers necessary
to carry on the business for which it.
is organized. To have and enjoy
succession in it's corporate name; to
contract, to sue and be sued, plead and
be impleaded, appearl answer and pros
ecute in any and all courts of Justice
and elsewhere, to hold, receive, ptI-
chase and convey, by and under its
corporate name, such property, real
and personal, as may be indispensable
to the objects of the corporation, 1st,
Such as may be necessary for the prop
er transaction Of its business; End, Such
as shall have been mortgaged to it in
good faith as security for loans 3rd
Such as shall be conveyed to it in sat
isfaction, for debts previously contract
ed, bona tide in the course of its bust
ness 4th, Such as it may purchase at
sale under Judgment or mortgages held
by it, or in which it may have an in
teresT, by being subrogaled to the
rights, according to Article 2157 of the
Civil Code to make and use a corpor-
ate seal having as a device a circular
disc on themargin of which is inscribed
"THE BANK OF VERMILION,
Incorporated January l, 1900" and in
the center an American Eagle; to name
and appoint such managers and direc-
tors to administer the affairs of the
corporation as may be necessary and
proper. and TO fix the compensation of
all persons in it's employment, provided
all the directors and managers shall be
citizens Of this State. To make and
management of the affairs Of the cor-
poration as may be- necessary and
proper ami in conformity with the pro-
visions of law and these Articles OF in
corporation and such bylaws to repeal,
alter and annul at pleasure.
ARTICLE III.
1t shall be a going corporation with
a capital stock of Twenty-Five Thous-
and 1926. 000.00) Dollars. aud shall be
authorized to begin business as soon as
Fifteen Thousand Dollars shall have
been subscribed. Said capital stock
shall be divided into Two Hundred and
Fifty shares of One Hundred Dollars
each the appearers being the share
holders and their places of residence
and the number of shares and amounts
held by each Of them respectively be-
ing set forth opposite the signature OF
each Of them All stock subscribed
shall be paid up in full in lawful mon
ey of the United States within twelve
months after the corporation shall
have commenced business and upon
cali of the Board of Directors.
ARTICLE ".
Thc said corporation shall commence
operation from the date, January ],
1900 and shall exist for the period OF
ninety-nine years unless sooner dis
solved.
ARTICLE Y.
All the corporate powers of this cor
poration shall be exercised by d board
t of directors composed of seven stock
holders of the corporation, each hold
ing inc his own name, or in the name
of Il firm of which be MAY be amemher,
at least five shares of the stock of said
corporation. They shall be elected an
!, nuallY At a general meeting of the
stockholders convened for the purpose
at the banking house of said corpora
| ton, on the first Monday of January OF
) each year commencing in 1901. Pre-
vious notice of at least ten days shall
be given of each election by publication
. in a newspaper published in the town
of Abbeville, La, and also by written
notice addressed to each stakeholder.
Said election shall be conducted by
three stockholders not members of the
board to be appointed by TIE board fol
: that purpose, and at each election the
t persons receiving the highest number
of votes cast shall be declared cleo ed.
In case OF no election on the day fixed
the president shall cause an election to
be held thereafter as soon as possible
on giving the above required notice.
A failure 10 elect a board of directors
shall not forfeit the charter but the di-
, rectors in Office shall remain until their
successors shall have been elected and
shall have taken their places. All cleo
tons shall be by ballot and each stock
! holder shall be entitled in person or by
> written proxy TO cast one vote for each
share Of stock held by him, or her. The
board of directors shall at their frsl
meeting after their election elect from
/ among their number a president, and a
: vice-presidens. Said board shall also
select some suitable person to act as
cashier, and also such other help or as
sistance as may be required for the safe
and proper conduct ofthe affairs of the
corporation and they shall fix the com
5 pensation ofsuch persons or employees,
} and require bond and security as they
? may deem proper. They shall make