The leader., 1900-12-05
THE CHARTER
of incorporation Of the Bank OF Brook
haven. BroOkhaven, Mississippi,

SECTION /. Be it remembered that II, v
MlllSaps, u. ID, Davis, &. Il. AleNanuelt i i
Brady, Jr. o. Newton. Jr., W. d. DAVIS ~,
Perkins. $: kohlman. Brookhaven lumte,
Mig Co., ii. Lewenthal. G. ). Butteritld' any
those hereafter associated with them, ana tIeI
successors, are hereby constituted BODY COT
p0rate under the name OF the
BANK OF BROOKHANEN;
and by that name may sue and be sued betoreany
court; may have corporate seal; may e9htrStGI'
ana be contracted with. may acquire, anu hoiu'
alien, incumber, and otherwise dispose OF pfVF
erty both real and personal, necessary lor lne
transaction of its business. and generdlil shan
have all the powers conferred by ChdWer -
Code 1892. The domicile OF the said corPorduoh
shall be Bro0khaven, State of Mississippi. -,
SEC. 2. This corporation Is hereby authormeu
to carry on general banking business. incllldHg
both the business OF a bank OF discount ana nc
post and a savings bank with all OF the pO"els;
expressed or implied, thereto; to receive ,I anu
hold on deposit and in trust, and as SeGlrIA
real estate and personal property, lnciuuHis
notes, bonds: obligations, mortgages, emo e. u
action OF individuals. corporations, mlhlclpatn
ties, states and United States; and the same ~ y
purchase, collect adjust, supply. sell ana als
pose of, with or without its guaranty or lndois5
ment; to receive and loan money on pledges anu
securities of all kinds, real or persona TO ac n
agent for the negotiation OF loans for any inli
vidual or corporation, and to charge slch COM;
pensatlon or commission as may be agreed up ,on
SEC g. The capital stuck Of said corp99II 1lIoa
shall be nifty thousand dollars 10000 }, diFnsnu
into shares Of one hundred dollars (SlOOl eac,
The corporation may commence business Wnssaa
twenty five thousand dollars 81, 900 OF w
stock has been subscribed and paid IN. lle
stockholders shall not be liable for any amolihs
exceeding the unpaid portion OF the par yalVg "
the stock subscribed by them respectively. ln s
corporation shall have lien on the stock lor aus
debt due to il by the subscriber or holder theieo,
| SEC 4. The management of the corpofation
shall be confded to Board of Directors, 10 gu" ,a
slst OF three or more members, oil whom 4 as
iority shall be quorum to transact blsillesaSs
Members of the Board OF Directors shall al ~ ~
stockholders, and shall be elected ANNUALLY ="
the stockholders. .,o,
SEC. 5. When any debt to the corporalplo'a
shall be secured by deposit OF collateral or o' III
securities, and 1t shall become necessary 10 se
or dispose of the securities to pay the deDl u ss
the corporation it shall be unlawful for any V tss
Ger or empl0ye OF the bank, or member VI r VA
Board OF Directors. to pay the debt so secn an
10 the corporation and, directly OF indirectly M
propriate The securities to his individual use a.
proht but such securities shall be sold al ~ ~ Il
posed OF solely for the use. benent ahd pio"'
the corporation. F., have
SIC. Is. The Board of Directors shall nav, "
power, by proper bylaws. to fix the nnihoe. md
officers of the bank and to make, ae.p ~" @t al
alter such rules and regulations OF ei eeaos a
officers and the government OF the busino,led
the bank as they may deem proper. ~ he
such bylaws, rules and regulations shal n the
in conflict with the provisions Of this charter ne
laws and constitution of Mississippi or u y
United States. ,.tv al
SEC. Z. The incorporators, or a maJorii3h s y,
them, may meet at such time and place as ~
wish. and organize under this charter. =, on Il.
| SEC. s. This charter shall take eheet VI VN :
approval by the Governor