The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1901-09-28

wh0oWe ndthing upon tileir shares, may
Withdraw fion the Association by giving
thirty daysnotice in writing to the Presi-
dent, when said shareholder, on snrren-
der of his certificate, shall be refunded all
stallments on shares made by him, less
any unpaid fines or charges and pro-
rata OF the current years expenses and
losses, if any, up to the date of his notice;
provided that Il shareholder with, lrawing
after his shares have been in existence
over one yeaE, shall receive, in addition
to the above, ten per cent of the profits
on said shares for each year they have
been in existence. Each written notice
of withdrawal shall be registered and
numbered by the Secretary in the order
OF their receipt, and withdrawing share
holders shall be paid in rotation. as reg
lstered, ont OF the first unappl opriated
moneys i'll the treasury.
On the death of any shareholder,
whose share is notrpledyrd to the Assn-
citation, his or her legal representative
shall be entitled to receive in cash the
withdrawal value of the share at the
time or the last payment made by such
deceased shareholder, less any unpaid
fines or charges, or said representative
shall be entitled to either transfer said
share to others, or continue the same
by payment of the monthly installments,
provided that said share be redeemed or
transferred, or notice given of continuing
1T, within the six months next following
such death, and in default of action
within that time said share aud all ac-
cumulatlons thereon shall become forfeit
ed and revert to aud become the property
OF the ASSOCIATIONS withoHtfurther notice.
Article X-No share shall he transferred
except on the books of the Association.
III the presence of the Secretary, upon
the surrender OF the certificate therefor,
provided M share in ar. ears can be trans
terred, and the person to whom the shares
are transferred shall sign the bylaws in
like manner rs any original mem er. For
each share so transferred there shall be
charged fee oftwenty-tiye cents.
Article AI-Special meetings of the
shan eholders shall be convened at the re-
quest in writing of ten shareholders, stat
ing the time and object of such meeting.
Art All-No shareholder shall ever be held |
liable or responsible for the contracts or
faults OF this Association in any further
sum than tie amount OF his Indebtedness !
TO the Association, nor shall any mere
Inl0rmallty III organization have the cf- |
iect OF rendering this act null. or ofeX-
posing IL shareholder to any liability be-
You'd the amount OF his or her shares.
ptipln Y III -'Ihic nnt - y, !.
can be altered, amended OF modified bv
vote OF three tonrthS of the shares
present or represented at IL ge eral meet
ing convened for that purpose, or the
Association dissolved by Il vote of two
tn rns OF the capital subscribed. at u wpn-
elaI meeting convened for that purpose
after ten days notice by the Secretary
by mailing and publishing same. Tie
capital of the Association shall not be
increased unless Il majority Of all the
shares in force shall vote in favor ofauch
Increase, nor until such notice be given
and such publication be made and such
tolmalltleS complied with It's are or nav
be required by law.
Thus done and passed in my office, III
the town If ST. Francsvile. Parish and
State aforesaid, on the day, month ami
year above written, in the presence Of
NeSSrS. l.. p. kllbourne and w. f.. Town
witnesses of lawful age, residing in SAID
parish, who have signed these presents
with the said parties and me, after due
reading of the whole.
JOS L Golsan,
Amedee 5 Leonard,
James kilbournc,
James Is Thcmls,
jill Clack,
H Percy,
A ViIleret,
JR Matthews,
w 7 Forester,
X NJ Leakc,
w w Leake,
Witness: Az Barrow,
Il Kilbourne,
W + Town,
A. YILLERET.
Clerk and EX-Officio Not Pnb.
This is TO certify that have examined
the above and FOREGOING act of inc0rpora-
ton and am Of opinion that the purposes
and objects of said corporation IN specified
III sad act are legal and that none of the
provisions therein contained are con-
trary to law.
Done this 18th day ofSept 1901,
Robt WICKLIFFE,
Dist-Atty, 9th Jnd Dist.
the undersigned clerk and ex -offico
'ecorder, in and for the parish of West
telIclana, State of Louisiana, do hercb,
certify that the above and foregoing q ct
If incorporation of the Mutual Building
nd Loan Association was This day dnly
ecordcd ill my Office in book ''P'' folio
rs ~ !
ST Francisville, La, Sept 25 1901
A VILLERNT,
= Clerk and Ex-Uflicio Recorder.
esg1xzEzaEszSgEs MISREPRESENTATION