New Iberia enterprise. (New Iberia, La.) 1885-1902, 1901-06-08
CHARTER.
United States of America, State OF


April. A. d. 1901, before me Fred w
Bauman, Notary Public in and for the
Parish OF iberia, State of Louisiana, duly
commissioned and qualified and in presence
of the witnesses hereinafter named and
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 them
are shareholders in the Teche Building
and loan Association of New Iberia, Louis.
lana, and that acting in conformity with
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 OF
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
ines 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
Building 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
anu to increase the capital stock to Two
Million Dollars, and all other requirements
of law having been complied with the
os,ns tnA m fho ho po-
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.
|. 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 q
corporate seal and the same TO break or
alter at pleasnye ! hold, rseeiye,~ lease,
purchase, convey and pledge under it's
corporate name, property, both real and
personal to lend or borrow money on
security to establish and maintain out Of
its receipts Of any source such special
funds as may be necessary to cover losses,
or meet the liability for redemption OF
payment Of matured shares to name and
appoint such officers and agents as the
interests and conveniences of said corpora
ton 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-
sary and proper and the same to change
and alter at 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
corporation, unless sooner dissolved under
the provisions Of this charter shall exist
for period Of ninety mine years.
ARTICLE II.
1. The domicile of said corporation shall
be in the City Of New Iberia, in the State
OF Louisiana. All citations shall be served
on the President, or in his absence, on the
Vice President, or in the absence of both
OF these officers, upon the Secretary.
ARTICLE III.
L. The objects and purposes of said
corporation are declared to be: Toprovide
q means for the regular, and profitable
investment of the savings of its members,
represented by the weekly installments on
account of its capital stock, and to loan
the funds accumulated from such savings,
from bonuses and interest upon loans,
from rentals and other sources to those
members who may desire to borrow por-
tions Of same, upon mortgage or other
security in the State Of Louisiana, or on
the shares Of the Association, a provided
in the bylaws whereby such borrowing
members will be enabled to build or pro-
vide themselves with dwelling houses, ia
purchase buildings lots or other real prop
erty, or to do such other things a. they
may desire.
l. No loan shall be made except to
shareholders.
2. All loans ahall be under the control
and direction Of the Board Of Directors,
who shall have the power to make such
rules, regulations or bylaws regulating the
same as 1t may deem necessary or expedi-
ent.
1. The capital stock OF said Association
shall be Two Million Dollars, CO, 900, ,00O)
and shall be issued in shares Of One
Hundred Dollars each.
2. The shares Of this Association may be
OF two kinds. Running Shares, aud Paid Up
Shares running shares shall be paid in
weekly or monthly payments Of 1t least
twelve and one-half cents, (12x per share
per week. Paid up shares shall be paid
up in full at the date Of their issue; pro-
vided, payments ON account OF paid up
shares may be made at any time, in sums
Of ten dollars, or any multiple thereof per
share, for which payment tho Association
shall issue receipts, which shall be conver-
tible into certificates of paid mp stock upon
the surrender Of such receipts, or they
may be cashed by their holders in the
same manner and under the rules govern
ing the Withdrawing Of shares; such pay
ments shall draw interest at the rate Of
mot moro than four per cent per annum,
payable - the Board Of Directors may
determine.
3. Running shares may be converted into
Paid UpGhares BY the holders paying the dif-
ference between the present and face value
Of such shares, or when sueh shares roach
their facs value provided that no esrti6-
Gates ofpaid up shares shall b Issued in any
event, unless authorized BY, and subject
70, sueA terms and conditions q the Beard
d Directors may prescribe.
I. Rnnning q paid up shagss shall Be
issned In saeh manner - may be provided
BY The by.laws.
s. lnstallnents on stock and interest o.
loans shall be due and payable = the
oGlce of tbs Association weekly % eaeh
Saturday, and stoekholdsts Ip1nsing q
negleefing to pay the installmenks Of dusa
or Interest Tor Eve consecutive weeks,
shall be iudge6 il delanlt, snd shall poy
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