New Iberia enterprise. (New Iberia, La.) 1885-1902, 1901-05-18
CHARTER.
United States of America, State of

l
i April, A. D. 1901, before me Fred V
Bauman, a Notary Public in and for I'll
Parish of Iberia, State of Louisiana, du
commissioned and qualified and in present
of the witnesses hereinafter named an
undersigned, personally came and al
peared: A. B. Murray, President, J.
Suberbielle, Secretary and A. J. Cammacl
who declared that they and each of thel
are shareholders in the Teche Buildin
and Loan Association of New Iberia, Louis
lana, and that acting in conformity wit
law, a meeting of the shareholders of sal
Teche Building and Loan Association, wa
held at the Office of said Teche Buildin
| and Loan Association, in New Iberia, Ibe
| ria Parish, Louisiana, on the second day Q
April, 1901, in conformity with the call an
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, t,
which special reference is made.
The call for said meeting having beel
regularly issued by the board of directors
the publication for more than thirty days
having been made in the "Observer' ant
the notices required to be mailed to eacl
shareholder for more than forty days prio
to said meeting having been waived BY
each and every shareholder in said Techt
Building and Loan Association, before sait
meeting and said meeting being especially
called for the purpose of changing, amend
ing, altering, substituting and adopting 9
new charter in place Of the present charter
and to increase the capital stock to Two
Million Dollars, and all other requirement.
of law having been complied with the
proposition 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 I.-NAME AND POWERS.
l. The name and title of said corporation
shall be TECHE SAVINGS AND LOAN
and under its corporate
name, it shall have the power to contract /;
to sue and be sued to make and use o
corporate seal and the same to break or
alter at pleasure to hold, receive, lease,
purchase, convey and pledge under its
corporate 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,
Dr. meet the liability for redemption or
payment of matured shares to name and
appoint such .oficers and agents as the
and cOnveniences of said corpora
ion may require to make and establish
'uch bylaws, rules and regulations for the
proper management and regulation of the
lffairs of said corporation as may be neces-
Iary and proper and the same to change
Ind alter at pleasure, and to do all such
lets and things as are, or may be neces-
'ary and proper to carry out the objects
md purposes Of said corporation and said
unless sooner dissolved under
he provisions Of this charter shall exist
or a period Of ninety-nine years.
ARTICLE II.
l. The domicile of said corporation shall
,e in the City of New Iberia, in the State
t Louisiana. All citations shall be served
N the President, or in his absence, on the
ice President, or in the absence Of both
1 these officers, upon the Secretary.
ARTICLE III.
1. The objects and purposes of said
are declared to be: To provide
means for the regular, and profitable
Investment Of the savings Of its members,
epresented by the weekly installments on
ccount Of its capital stock, and to loan
he funds accumulated from such savings,
rom bonuses and interest upon loans,
rom rentals and other sources to those
,embers who may desire to borrow por-
0ns Of same, upon mortgage or other
ecurity in the State Of Louisiana, or on
ae shares Of the Association, as provided
! the bylaws whereby such borrowing
lembers will be enabled to build or pro- |
ide themselves with dwelling houses, to
urchase buildings lots or other real prop
rty, or to do such other things as they |
lay desire.
ARTICLE Nv. !
1. No loan shall be made except to |
2. All loans shall be under the control |
nd direction Of the Board Of Directors,
no shall have the power to make such |
lies, regulations or bylaws regulating the |
lme 40 it may deem necessary or expedi-
1t.
ARTICLE v.
1. The capital stock OF said Association
lall be Two Million Dollars, ($2, ZOO, ,OOO)
Id shall be issued in shares OF One /
undred Dollars each.
2. The shares OF this Association may be
two kinds. Running Shares, and Paid Up
1aIes; running shares shall be paid in
eekly or monthly payments Of at least
relve and one-half cents, (121k) per share
r week. Paid up shares shall be paid
, in full at the date Of their issue; pro-
ded, payments ON account Of paid MP
ares may be made at any time, in sums
ton dollars, Or any multiple thereof per
are, for which payment the Association
all issue receipts, which shall be conver-
Die into certificates Of paid mp stock upon
. surrender Of such receipts, or they
~ be cashed BY their holders in the
me manner and under the rules govern
the Withdrawing Of shares; such pay-i
snts shall draw interest 1t the rate Of
{ moro than four per cent per annum,
yable - the Board OF Directors NAV
termine.
5. Running Shares may be converted into {
I'd UpShares By The holders paying the diff
renee between the present and face value
such shares, or VIXEN such shares reach
Dir face value provided that NO eertif-
tes ofpaid up shares shall he inued in any |
ent, unless authorised BY, and smbjsct
such terms and conditions - the Board
Ddreceore may prescribe. II
1. kunning or paid mp shares shall Be II
ued IN such manner = may b providsd Ii
tie y-laws. FL
5 lnseallments on stock md interest a / 4
lns shall BE- due and payable 4 ~ Ia
~ q the As1oeiafion uoek1y q each
furday, and stockholders refusine q |
giocting - pay the installmenfs of dnes .
intssesk for ~ consecufive weeks. i
" - jndged IN default, ard ahall nay III
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