The weekly Iberian. (New Iberia, La.) 1894-1946, 1901-06-15
I fine yalue of Two hundred

cached the value OIL INo HtiHoi oN'
Dollars $500. 0o) per share; when
he said property Shall be trans
eerred 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 off the
amount due said shareholder on his
pledged said stock against the sum
loaned him and 70 retain sald
amount in payment OF his loah'
and no part of any such loan shall
be considered as paid until the
stock loaned on has matured ana
compensation has been effected.
No property sha be purchased by
the Association except for cash.
Shareholders obtaining advances
on shares, failing to tender satls-
factory security therefor, within
thirty days from date of the adj
Indication, shall forfeit same
crowded that the Board OF Direc-
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 foul
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,
Recorders, Registers and | 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
yances on stock as they may SET
proper provided they do not con
tiict with this Article.
ARTICLE VII
Payments ON shares, installment'
and interest shall be due and pay
able weekly on each Saturday, a
the office of the Association, ant
any shareholder in arrears fiv
weeks in the payments either Q
installments or interest on shares
shall forfeit and pay as a penalt.
the sum of five cents per share
on shares on which no advance ha
made, and the sum of ten cent
per share on shares on which a
advance has been made, and til
same for each similar subsequen
i default, and said fines must b
paid before any further install
ments and interest can be recei,
| ed.
! ANY shareholder who shall b,
4 come six months in arrears in til
payment of the installments or il
| terest due on his shares, shall. b
reason of such failure, and witt
out notice, forfeit all payment
previously made by him, togetht
with the profits, interest and a
cumulations thereon, which sha
; revert to and become the propert
i of the Association. Interest ma,
lat the discretion of the Board {
/ Directors, be allowed on MONTH
payments s(made in advance {
those due within the current
month)at rate to be fixed from tin
to time by the Board of Director
not to exceed six per Gel
J annnm for the time said paymen
run; provided no interest shall
/ allowed on payments in adyan,
for a shorter period than thr,
months.
ARTICLE VIII.
5. Any shareholder who has r
ceived a loan or advance upon b
/ shares, desiring to settle and
quidate such Indebtedness pri
the muturlty Of the loan, may {
} so either in part or in whole,
! paying the net amount cash I
ceived on each share, plus o.
eight of the discount bid for san
for each year or fraction Of We,
that said shares have been in e
listence, and if desired the pledg,
shares may be surrendered