The Jennings daily record., 1902-07-12
CHAR T E r
OF THE
Jennings Building 4 Loan Asso'
ciation.
State of Louisiana,

State Of Louisiana,
Parish OF Calcasieu. !
Re it known that on this sixteenth
day OF June, in the Year one thousand
nine hundred and Two, before me, !.
G.. st. Germain, q notary public, duly
conmi ssiOned and qualified, in and
for the said parish o1 Culcasleu. state
of Louisiana. and in the presence OF
the witnesses hereinafter named and
undersigned. personally came anu APP
reared the parties whose names are
hereunto subscribed, who declared:
I'hat ayailing themselves OF the pro-
yi>i.,ns oi Lile laws OF this State rela-
4iv tn Linz ura .niAatiUu of corpora
,'nns and especially of tn" ;icGs OF the
30; .:a;ur. Nvs. III, aud loi of the
session OF 1855, ilAey nave covenanted
and agreed. and uo, Ny these presenss,
covenant and agree ana Dlnd them
selves. and those who may hereafter
become associated with them. to form
themselves into and consulate cor
pora,ion Tor the objects ahd purposes
hereinafter set forth.
ARTICLE 1.
The name and title OF this coipor-
alton shall be the Jennings bultuin9
X Loan Association ana under its
sd i'll corporate name it shall nave The
power ana authority to contract, sue
and pe sueu: 10 mike, have and use Il
corporate seal, and tie same To break,
alter or amend nj pieasure; to hoid,
receive, lcase. purchase aud convey,
ana pledge, u4oer It's corporate name,
property, BON real ana PERSONAL: to
lena luo,.ey on security: To name ana
appo1nt sucn officers, directors and
agents as the interests and convenience
OF said corporation may require: 20
make ana esy;: bii. such by laws, rules
and regulations ior the proper nian-
aweuenL and regulation OF Its altairs;
as it may deem necessary and proper.
and the se.ue TO change and alter e;
| peas ure, and to do all other acts anu
things as are or may be necessary and
| proper 70 carry out The obJects ana
purposes OF said cOrpuratiou;ands saiC
| corporation. unless sooner disS ived
in ;.crUrdaure with this Charter, shall
exist and continue for and uuing
| n uety -nine years from date hereof.
ARTICLE II.
! The GVlnicile Of The So ii corporation
| shatt be IA (he cily oi Jennings. II
the State of louisiana, and all clta
uons or otaer legal processes shall
be served upon the President OF TIA!
corporation. or, III his absence, upon
the tirst Wee PRESIDENT, or, in his a .
sence, upon the second Nice-Presi
DEM. or. in the absence OF all thes
o:!.cers. upon the Secretary.
ARTICLE III.
The object OF this Association shal
i,c lue accumulation OF q funo trol
the weekly iustallments on account {
Suhscripliou 90 the capital stock, ref
tais. bonuses. interest on loans an
Ether sources: the funds SO acct11uJ
lated - pt used ior the purchase an
sale. o. real estate. the building. rem
ing and sale of hulnestead>. and II
: lending q; funds uPou mortgage -
curry IN The city uf Jennings III Il
| state OF Louisiana, and upon snare
OF thiS corporation as provided by Il
y-laws.
shareh huluers, and no loan fora gree.
owned 10y the borrower.
Al loans shall be under TIE contr
and direction of th- Board of Dit c
tors. who shall have the power
make such rules, regulations and .
laws regulating the sane as it IL;
deem necessary or expedient.
ARTICLE III
l. The capital OF said corporate
sla llsnv five million dollars iSa.t0'
CIV. o.. and shall be issued in shar
81 one hundred dollars each, and vi
curpuration shall begin business
once, 2a9 shares having been su
scribed tor Ly the Original signe
hereto.
>. The shares in this corporate
may tie ct wv, kinds, "runn,n.
i, shares and paid up shares. ''Ru
nj g" shares shall be paid for
weo KY or monthly payments OF
, lea ST twenty-five cents per share Y
week. on shares pledged Tor nu'
tiunal .ecurity Tor real estate loal
weekly interest on such loahs shall
first deducted from each payment, (.
the difference credited as payment
\ Tie stock: provided, additional pa
nents may he made at ANY time or
any amount, at the option OF
=, shareholder. "Paid up shares ,h
: be paid up in full at the date OF tn
y issue: provided. payments on ;.cco'
OF paid up SHARES may be made
any time, in sums of ten dollars,
= mul iple thereof per share, for VIII
payments the Association shall is:
receipts which shall be convert
into certificates of paid upH sha
upon the surrender OF such receipts
they MAY be cAshed by their hold
;; in the same manner and undcr
i: rules governing Withdrawing
$ shares, Such payments shall q.
=. interest at the rate of not more ii
Il tour per cent per annum, payab bic
Il the Board Of Directors may deterihi
Il }. "Running" shares mny be Z
e verted into paid up shares by
M holder paying the difference betw
Y the present and face value OF 5
s shares, or when such shares re
q t cir face value: provided that ce1
81 Gates ot paid up stock shall be is
n vnlY when authorized by aud sub