The weekly Iberian. (New Iberia, La.) 1894-1946, 1901-06-29

reached the value Of Two hundred
Dollars (s2oo.Oo) per share; when
the said property shall be trans
ferred to the owner of said stock
I'm all cases where the Association
lends money to shareholders blo-
ding a discount therefor as JusV
above provided, it shall have the
RIGHT at the maturity OF sad STOCK
to compensate and set OFT the
/ amount due said shareholder on MS
pledged said stock against the sum
loaned him and TO retain saia
amount in payment of his loan;
and no part of any such loan shali
be considered as paid until the
stock loaned on has matured ana
conversation has been effected.
No property shall be purchased oy
the Association except for cash.
Shareholders obtaining advances
on shares, failing to tender salts
factory security therefor, within
thirty days from date OF the ao-
Indication, shall forfeit same
fproyided that the Board of Dlrec-
! tors may for good and satisfactory
: reason, extend the time), and all
costs and charges or expenses
attending the examination or
titles and searches, together with
the interest for not less than four
weeks. or such further time as may
have elapsed, shall be charged to
the borrower, and be a lien against
his or her shares until paid.
All fees of Attorneys, Notarles,
q Recorders, Registers and al ex-
- penses incurred in making or can
n ceiling loans, shall be paid by the
q respective borrowers.
The Board of Directors may
=, make such rules and regulations,
d or Bylaws to govern loans or ad
PC vances on stock as they may set
g. proper provided they do not con
flict with this Article.
D. ARTICLE VII
n. PAYMENTS on shares, installment:
" and interest shall be due and pay
IL able weekly ON each Saturday, a
er the office of the Association, ant
II. any shareholder in arrears fiv
ey weeks in the payments either 0
VS. installments or interest on share
to shall forfeit and pay as penalt
U.s. the sum of five cents per share
or on shares on which no advance ha
ct. made, and the sum of ten cent
lc per share on shares on which a
sy- advance has been made, and til
raj same for each similar subsequeI
cts default. and said fines must /
IN. paid before any further install
to ments and interest can be recei
for ed.
ed Any shareholder who shall b
.he come six months in arrears IN I'll
all payment of the installments or il
terest due on his shares, shall, /
ent reason of such failure, and wit
ust out notice, forfeit all paymen
ute previously made by him, togeth
ub- with the profits, interest and a
of cumulations thereon, which sh;
ess revert to and become the proper
uch of the Association. Interest ma
) al at the discretion of the Board
on Directors, be allowed on month
Try. payments made in advance
those due within the current
ion month)at rateto be fixed from til
nay to time by the Board of Director
and not to exceed six per &C
to annum for the time said payme1
run; provided no interest shall
on allowed on payments in advar
are for a shorter period than TIL
) of months.
Jay ARTICLE VIII.
con, Any shareholder who has
.ock ceived loan or advance upon
in shares, desiring to settle and
/ Of quidate such Indebtedness pr
n is the muturlty Of the loan, may
Y to so either in part or in whole,
ring paying the net amount cash
ceived on each share, plus I
hall eight of the discount bid for sa
, ad- for each year or fraction Of y
cred that said shares have been in
bid |istence, and if desired the pied,
l-l. 1 II