The Jennings daily record., 1902-08-02
CHAR TER
OF THE
Jennings Building 4 Loan Asso.
citation.
State of Louisiana,
Do nish lon siall

Parish OF CalcaSleu.
Be it known that on this sixteenth :,
day OF June, in the Year one Thousand
nine hundred and two, before me, j.
commissioned and qualified, in and
for the said parish OF Calcasieu, State
of Louisiana, and in the presence of |
the witnesses hereinafter named and |
undersigned, personally came and APP |
peared the parties whose names are
hereunto subscribed, who declared: |
That availing themselves of the pro-
visions of the laws OF this State 1ela-
tive to the organization of corpora
tions, and especially OF th acts of the
Legislature Nos. lis and l5l of the
session Of 1883, they have covenanted
and agreed. and do, by these presenss,
covenant and agree and bind them
selves. and those who may hereafter
become associated with them, to form
1hemselves into and constitute d cor
poration for the objects and purposes
hereinafter set forth.
ARTICLE 1.
The name and title OF this corpor-
a,ioa shall be the Jennings Building.
s. loan Association and under its
S tid corporate name it shall have the
power and authority to contract, sue
and be sued: 10 make, have and use
corpora g seal, and the same TO break,
alter or amend at pleasure: TO hold,
receive, lease, purchase and convey,
and pledge, under its corporate name.
property. both real ana personal: to
| lend money on security: to name and
appoint such officers. directors and
agents as the interests ana convenience
o.-@ al ru'{,U ;iJio7 InMy require: to
make and esGa DliSh such by-it."S rules
and regulations for the proper man
agernent and regulation of it's affairs
as it may deem necessary ANA proper
and the same to change and alter at
plea sure, and to do all other acts and
things as are or may be necessary and
proper to carry out the objects and
purposes of said corporation;ands said
corporation, unless sooner diss lved
in accordance with this Charter, shall
exist and continue for and during
ninety-nine years from date hereof.
ARTICLE II.
The domicile of the said corporation
shall be in the city of Jennings. in
the State of Lo .isiana, and all cita.
tons or other legal processes shall
be served upon the President of this
corporation, Or. in his absence, upor
the first Vice President, or, in his alb
ScAC0, upOA t1lc ScCOIu v 1Cc>I IcSl
ldent, or, in the absence Of all these
officers, upon the Secretary.
ARTICLE III.
The object of this Association shall
be the accumulation OF funG iron
the weekly installments on account o
subscription to the capital stock, ren
T tails, bonuses, inter est on loans ant
!. other sources; the funds SO accumu
| lot M k,o nhns N.
sale of real estate, the building, rent
ing and sale of homesteads, and tn
. lending of funds upou mortgage Sc
. curity in the city OF Jennings in tn
State of Louisiana, and upon share
/ of this corporation as provided by tn
bylaws.
5 No loan shall be made except t.
shareholders, and no loan fora grea,
|. er sum than the face of the share
!. owned by the borrower.
AL; loans shall be under the contrt
g and direction of th- Board of Ditet
+ tors. who. shall have the power t
+ make such rules, regulations and b,
/. laws regulating the same as it ma
+ deem necessary or expedient.
/ ARTICLE Hi
7 /. The capital of said corporate
/ shall hc five million dollars ($5.OOC
= bO". .Vn). and shall be issued in share
of one hundred dollars each, and tn
- corporation shall beg,n business
= once, 219 shares having been SUI
At scribed for by the, original signel
n hereto.
~ 2. The shares in this corporate
may he. of. tw kinds, cunning
shares and ''paid up" shares. "Ru
nj g,.' shares shall be paid for
weekly or monthly payments Nof
least twenty-five cents per share p
week. On shares pledged for add
tional security for real estate loan
weekly interest on such lOahs shall
first deducted from each payment, al
the difference credited as payment {
the stock; provided, additional pa
~ ments may be ma le at any tlne or
. any amount, at the option of t.
shareholder. 'Paid upo shares shs
VI be paid up in full at the date of the
3 issue; provided, payments on accou
b of "paid up" shares may be made
a any time, in sums of ten dollars,
S multiple thereof per share, for viii
3 payments the Association shall iss
2 receipts which shall be convertit
s into certificates of "paid up' shar
$ Iupon the surrender of such receipts i,
i. p they may be cashed by their holde
~ in the same manner and under
- rules governing withdrawing
- shares, Such payments shall dr.
!. interest at the rate of not more tn
g. four per cent per annum,, payable
"a the Beard of Directors may determiI
3. drumming" shares mny be. &C
verted. into paid up shares by I
holder paying the difference betwe
n 1.-THE present and face value of su
|Sharea,. ~ when such shares res
u their face value; provided that cert
Gates of paid up stock shall be issr
only when authorized by and subj
to such terms and conditions q
terms rs the Board of Directors n