The Meridional. (Abbeville, La.) 1856-1906, 1900-01-06
C r
ACNE SAVING ASSOCIATION.
OF THE.
STATE OF LOUISIANA, !
PARISH OF VERMILION. {

of November. A. D.. 1899. before me,
WILLIAM PIERREPoNT EDWARDS. q nc,
tary public, III and fer the parish and
state above written, duly commissioned
and qualified, and in presence OF the Wit
nesses hereinafter named and signed, per-
esonally came and appeared the several
persons whose names are h~ereunfo sub
sScribed, who severally declared, that
awaiting themselves of the law of Louis
lana for the organization OF works OF
public utility and advantage and others,
they have contracted and agreed, and 90
by these presents covenant and agree,
and j themselves as well as all others
who may hereafter associate themselves
with them or their successors, to form
and constitute q corporation and BODY
polite in law for the objects and purposes
and under the agreements and stlpula-
tions following, to-wit:
ARTICLE I.
The name and title of said corporation
shall be the "Acme Saving Association
and under its said corporate namel it shall
have power and authority to have and
enjoy succession for the full term and
period of ninety-nine years from and af-
ter the date hereof to contract, sueiand
be ued; to have and to use q corporate
seal and the same to alter and change at
pleasure; to hold, receive. lease, pur-
chase. sell, convey, mortgage and pledge
m Y 10 WI Hot 1NAAAS AoHNA gobA
real and personal; to issue bonds. to loan
and borrow money on security, Ito name
and appoint such officers, directors and
agents as the interests or need of said
corporation may require, n to make
and establish such bylaws, rules and
regulations for the proper management OF
the affairs OF said corporation as may be
necessary and proper, and the same to
change, alter and amend at pleasure, and
to do n perform all other acts and
things that may be required and neces-
sary to carry ont the objects and purposes
of said corporation.
ARTICLE II.
The domicile of said corporation shall
be at Abbeyille, La, and all citations or
-other legal process shall be served on the
President of said corporation, OF in his
absence on the Vice President. and in the
absence of both on the Secretary of the
corporation.
ARTICLE III.
The object and purposes for which this
corporation is established and the nature
of the business TO be carried on by it are
declared and specified to be:
1st-To furnish a safe and profitable
method of investing the savings of the
people, and thereby encouraging them to
save their earnings.
2nd-To aid the members of the assoeia-
ton i'll building. purchasingor improving
houses and property generally aud es-
pecially homes.
3rd-To accumulate q fund from INSTALL
ments, rentals, premiums, interests II
subscriptions for stock, TO be loaned to
members to aid them in acquiring or inn
proving homesteads or other real estate
and in purchasing real estate for the ben
eft of the mepnbers and improving and
building on the same and selling the same
to members OIL terms convenient to them,
and for having Oft matured stock.
ARTICLE ".
The capital stock shall be Five Hun
dred Thousand $500. 600 Dollars, and con-
sist of ise thousand 5000 shares of one
hundred (Sl00l dollars each. par value. and
be divided into the following classes
1st-Series a Stock, to be paid for in
monthly installments Of seventy cents
per share. and n dollar per share adj
mission fee.
2nd-Series B Stock, to be paid for in
tQuarterly, -semi-annual or animal INSTALL
ments. in such amounts as shall De equiv
alent to the monthly installments of sew
senty cents per month as the bylaws may
provide with like membership fee of one
dollar per share.
3rd-Full Paid Stock, which must be
paid for i'll cash at the time of subscrip-
tim at the rate of Fifty Dollars per share.
and n dollar admission fee per share.
4th-Deposit or Irregular Installment
Stock. the value of which will depend on
the amount paid in, and the interest ac-
foundations thereto at six per cent per
annunl. Payments on this stock may be
made at any time according to the ability
of the stakeholder and may be closed at
the option of the owner and discontinued
as proyidea by bylaws.
5th-Guarantee Stock, one hundred
shares of this stock at the par value Of
vone hundred dollars per share, amounting
to $1,000, shall be issued consecutively
a II paid for in installments, as needed at
the direction OF the board Of directors.
The holders of this stock guarantee nj
other stockholders against al costs.
Acharges expenses of operating the
business of the corporation takes eX-
7cepted1 in excess of the expense fund aris-
-lng from the ten cents per share per
month. the admission, transfer and with
Sdrawal fees herein provided for the ex-
penses OF the corporation. And the hold
ers of this stock rs such, shall not parti-
vcipate IN the profits, interest or benefits
of any other class of stock beyond the
amount set-apart and assessed as afore-
said OIL said stock. But the payments OF
the in~stallments Of said guarantee stock
shall only become due AMI payable after
due assessment by resolution of the board
of directors.
ARTICLE v.
Minors may hold shares through their
tntors Or parents and married women in
gtheir own separate right. At the close OF
each fiscal year the net profits shall be APP
portionea and u dividend credited to the
value of each share III force i'll the man
ncr that may be- determined Ivy the dircc-
tor. Whenever any series of shares, by
reason of payment of installments there
on. together with the interest and profits,
the accommodations and dividend credited
thereon. shalt be worth the sum of one
hundred dollars each, the shares so arriv-
ut par shall be deemed mature, and on
surrender Of the certificate shall beliqui-
dated and paid off as determined by the
board OF directors. Any shareholders Of
series stock who shall fail to pay the in
S|talIraents on his shares for a period of
nnA raanEk inter- thA snnan shnll hnun L.