The weekly Iberian. (New Iberia, La.) 1894-1946, 1901-06-22
4 +ba volun of Two hundred

reached the value OIL IAo iiuilNtie
Dollars 5000. Oo) per share; when
the said property shall be trans
ferred to The owner Of said stock
In AL cases where the Association
lends money to shareholders bid
ding a discount therefor as just
above provided, it shall have the
right at the maturity of said stock
to compensate and set OFT the
amount due said shareholder on his
pledged said stock against the sum
loaned him and to retain said
amount in payment of his loan;
and no part of any such loan shall
be considered as paid until the
stock loaned on has matured and
compensation has been effected
No property shall be purchased by
the Association except for cash.
Shareholders obtaining advances
on shares, failing to tender salts
factory security therefor, within
thirty days from date OF the ad-
Indication, shall forfeit same
provided 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 OF
| 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, Notaries,
], Recorders, Registers and al ex-
penses incurred in making or can
ceiling loans, shall be paid by the
respective borrowers.
The Board of Directors may
, make such rules and regulations
, or Bylaws to govern loans or ad
vances ON stock as they may set
proper provided they do not con
t1ict with this Article.
ARTICLE VII
/ Payments on shares, installnent'
y and interest shall be due and pay
l. able weekly on each Saturday, a
r the office of the Association, ant
:. any shareholder in arrears fiv
v weeks in the payments either 0
s installments or interest on share
o shall forfeit and pay as penalt,
$ the sum of five cents per share
" on shares on which no advance ha
t. made, and the sum of ten cent
G. per share on shares on which a
y advance has been made, and til
al same for each similar subsequen
IS default, and said fines must h
4. paid before any further install
10 mentS and interest can be recei'
or ed.
d. Any shareholder who shall b.
le come six months in arrears in til
Il payment of the installments or il
terest due on his shares, shall, b
Mt reason of such failure, and wit
st out notice, forfeit all paymen
te previously made by him, togeth'
b. with the profits, interest and a
of cumulations thereon, which sha
SIS revert to and become the proper1
ch Of the Association. Interest ma
a at the discretion of the Board
on Directors, be allowed on month
v payments made in advance
those due within the current
on month)at ratet to be fixed from tin
ay to time by the Board of Director
nd not to exceed six per ce
TO annnm for the time said paymen
run; provided no interest shall
ON allowed on payments in advan
re- for shorter period than thr
of months.
" ARTICLE VIII.
N, Any shareholder who has
ok ceived loan or advance upon |
in shares, desiring to settle and
of qnidate such Indebtedness pr
is the muturlty Of the loan, may
to SO either in part or in whole,
NO paying the net amount cash
ceiyed on each share, plus o
all eight of the discount bid for sal
Id for each year or fraction of We
ed that said shares have been in
i'd istence, and If desired the pledg
is shares may be surrendered
4 \