New Iberia enterprise. (New Iberia, La.) 1885-1902, 1901-06-01
CHARTER.
United States of America, State of
Louisiana, Parish of Iberia.

Be it known that on this 30th day O
April. A. d. 1901, before me Fred W
Bauman, a Notary Public in and for tn,
Parish of iberia, State Of Louisiana, duly
commissioned and qualified and in presenc.
of the witnesses hereinafter named ant
undersigned, personally came and ap
peared A. B. Murray, President, J. P
Suberbielle, Secretary and A. j. Cammack
who declared that they and each of then
are shareholders in the Teche Building
and Loan Association of New Iberia, Louis
lana, and that acting in conformity witt
law, meeting of the shareholders of said
Teche Building and Loan Association, was
held at the Office of said Teche Building
and Loan Association, in New Iberia, Ibe-
ria Parish, Louisiana, on the second day oi
April, 1901, in conformity with the call and
in the manner set out by law and as re-
cited in the process verbal of the proceed
ings filed with the Secretary of State, to
which special reference is made.
The call for said meeting having been
regularly issued by the board of directors,
the publication for more than thirty days,
having been made in the "Observer' and
the notices required to be mailed to each
shareholder for more than forty days prior
to said meeting having been waived by
each and every shareholder in said Teche
and Loan Association, before said
meeting and said meeting being especially
called for the purpose of changing, amend
ing, altering, substituting and adopting a
new charter in place of the present charter
Million Dollars, and all other requirements
Of law having been complied with the
was submitted to the share
holders, and each shareholder present in
person or by proxy voted in favor of the
adoption and substitution Of the following
nine (9) Articles as its charter, viz (:
ARTICLE NAME AND POWERS.
l. The, name and title Of said corporation
shall be TECHE SAVINGS AND LOAN
ASSOCIATION, and under its corporate
name, it shall have the power to contract /;
to sue and be sued to make and use o
seal and the same to break or
alter at pleasure to hold, receive. lease,
purchase, convey and pledge under its
name, property, both real and
personal to lend or borrow money on
security to establish and maintain out Of
It's receipts Of any source such special
funds as may be necessary to cover losses,
or meet the liability for redemption or
Of matured shares to name and
appoint such officers and agents as the
interests and conveniences Of said corpora
lion may require to make and establish
such bylaws, rules and regulations for the
proper management and regulation of the
Affairs Of said corporation as may be neces-
Bary and proper /; and the same to change
and alter ct pleasure, and to do all such
acts and things as are, or may be neces-
sary and proper to carry out the objects
and purposes Of said corporation; and said
unless sooner dissolved under
The provisions Of this charter shall exist
Tor period Of ninety years.
ARTICLE II.
1. The domicile of said corporation shall
be- in the City of New Iberia, in the State
Df Louisiana. All citations shall be served
Dn the President, or in his absence, on the
Vice President, or in the absence Of both
81 these officers, upon the Secretary.
ARTICLE III.
l. The objects and purposes OF said
are declared TO be: Toprovide
/ means for the regular, and profitable
Of the savings Of its members,
by the weekly installments on
account Of its capital stock, and to loan
he funds accumulated from such savings,
lrom bonuses and interest upon loans,
lrom rentals and other sources to those
who may desire to borrow por-
ions Of same, upon mortgage or other
DecuFity in the State Of Louisiana, or on
he shares Of tho Association, a. provided
IN the bylaws whereby such borrowing
will be enabled to build or pro-
ride themselves with dwelling houses, to
purchase buildings lots or other real prop
srty, or to do such other things - they
may desire.
ARTICLE Nv.
l.. No loan shall be made except to
2. All loans shall be under the control
md direction Of the Board Of Directors,
Who shall have the power to make such
rules, regulations or rby-laws regulating the
,ame - It may deem necessary or expedi-
3nt.
ARTICLE v.
l. The capital stock OF said Association
hall be Two Million Dollms, (92, ,O0O, ,000)
Ind shall be issued in shares OF One
Hundred Dollars each.
2. The shares Of this Association may be
II two kinds, Running Shares, and Paid Up
running shares shall be paid in
weekly or monthly payments Of 1t least
;welve and one-half cents, az 21x) per share
per week. Paid mp shares shall be paid
Up IN full ct the date Of their issue; pro-
vided, payments ON account Of paid up
,hares may be made at any time, in sums
4 ten dollars, or any multiple thereof per
hare, for which payment the Association
hall issue receipts, which shall be eonver-
ible into certificates OF paid mp stock upon
he surrender Of such receipts, or they
nay be cashed by their holders In the
lame manner and under the rules govern
ng the withdrawing Of shares; such pay
nents shall draw interest q the rate ol
lot more than four per cent per annum,
,ayabls - the Board Of Directors may
determine.
Paid Up Shares BY the holders paying the diff
erenee between the present and lace value
( esuch shares, or when sueh shares reach
heir lass valns provided that no csrti6-
'ates ofpaid up shares shall be issned in any
lvsnt, unless anthorised BY, and subject
., such tefms and eondItions - the hoard
4 DReeeore may prescribe.
4. Running u paid up shares shah b.
esued In snoh manner - may b provided
y the bylaws.
s. lnstallments on stock and interest on
oans shali b due and payable st the
I6lee Il The Association weokly On each
3akurday, md stockhoa6eru fofasing or
le9lee<ing - pay the instaIlments a dnes
= 3mhnronk Asp fSuea 1S,r,~n,ne,hs~pa s~aa3r.