The southern sentinel. (Winnfield, La.) 1883-1910, 1903-08-28

the minimum premium fixed in - aie oelp
for which loans will be made, the peaaats
Directors may, in their discreiinn Doasda
surplus fund on hands upon the S,o ma lie
association provided said loan sbar o. Til
coed the Withdrawal value Of tba not a.
pledged: or the Board o. Directors ,sIoex 4
authoEity 70 use surplus funds in retiri.aa ,se
outstanding stock of the association he
ARTICLE TX.
Upon the death Of a stocShoider. h;s
representatives may continue 10 ers,ien
rights and privileges that belong TO .Sg he
deascd, o. they may receive bari ,ke at
actually paid by the deceased. ard .Ls are
, ton boon OF nso,;,o any o profits ia, n,
penalties, etc, that may be due So. enc.
deceased stock-oider; provided. If sae
is pledged TO the association, the an. Ct
be first redeemed by sid rcpTesenta,iys saaa
ARTICLE Y.
The Board of Directors shall. s.ui.s,u.-r
ut the first meeting in July and Tsnnaag
each and every year. declare. the y.;.hSay9
than eighty per cent. OF the G1es paid ana -
value so fixed shall remain the pr;ce s- -I Hs
q member may withdray shares until rbs g.
semi annual valuation. neA
ARTICLE XII.
ANY member not indebted TO this assoc;....
may withdraw one or more SHARES % $50
held by binsupon giving one month"; ,,r;.se<
notice to the President, and shall be mid 8
every snare OF stock 50 withdraw .. TX
equal to the withdrawal valuation n, IN ~
time being.
ARTICLE XII.
Each and every stocktolder or trustee ~.
shall neglect or refuse 20 pay mis- month";
dues or interest IS Often as the sane shai
become cue and payable, shall forfeit and ~
the additional sum OF ten cents monthly 4,
each and every dollar due by him; dues ofs.ss
month taken separately.
All Claims for dues, interest. fines and ns,-
allies shall be held IS q lien against the 49,
Of delinquent members or their assignees ~
when such claim shall amount to the n
equal to the amount OF dues actually paid =
such delinquent, the same shall be sold to D.
highest bidder, after five DAYS written notie<
sale applied to the delinquency.
ARTICLE XIII
The Board of Directors shall have uovern
settle with borrowing stockholders, either nsr.
TALLY or full, at any time before the stock Ia.
reached par value, and upon the applicatou
of such stakeholder in a manner equitable a
the association and such stakeholder.
ARTICLE XIV.
All transfers of stock shall be made On ths
books of the association. No shares SIAN b
transferred until after the payment Of tweuty.
five cents by the transferee for each certifcs.e
transferred and the transfer approved BY ths
Board OF Directors
ARTICLE XIV.
No stakeholder shall ever be held liable far
more than his unpaid balance on his stock
nor shall any mere informality in the organi-
zation have the effect of rendering this charts
null, or of exposing q stakeholder to any L.
bility beyond the amount of his stock.
ARTICLE XVI.
This charter can be altered, amended Or
modified, or this corporation dissolved By
vote of three-fourths Of the capital stock :sp-
I'd a
that purpose, after ten days notice, publisAel
in one Of the newspapers of the city.
ARTICLE XVII
Special meetings of the stockholders shau
be convened at the request, in writing oit0
stockholders. stating the time and object q
such meeting; but no other business tAn
that for which such special meeting was called
shall be transacted thereat.
ARTICLE XVIII
All certificates of stock must be signed b
the President and attested by the secretar,
with the seal of the association attached "a
must be duly numbered and recorded.
ARTICLE XIX.
The following shall constitute the Board d
Directors and they shall hold Office until TIE
third Monday IN July. nineteen hundred ssd
chosen and qualified: N. NJ. Hyde, J. D. Pa.
J. L. Wallace, II T. Pye. p K. Abel LIZ. Ses
E. G. Drew; with E. G. Drew, President; j. D.
Pace, Vice President; and h. L. Pye, Treasurer
ARTICLE Xxx.
The Board of Directors shall have the posu
at any time they deem it 10 the interest Of tie
association to sell fult-paid dividend stock in
addition to the series stock provided il Article
Four, of this charter.
This dividend stock shall be issued il shafs
Of Two Hundred Dollars each. and shall -
be sold for less than the par value Of fvo
Hundred Dollars in cash per share, in ~
amounts, and ut such times as the Board q
Directors may direct. A dividend Of one a.
lar tSl-00) shall be paid monthly ON each shas
holder of same, and said stock shall rot pr
ticipate in any other way in the e1rninu@
profits of this association, except tLr monthly
dividend of one dollar per share above mea-
TONED, but the holder of said stock sLah eng
the same right to vote in any stockhotden
meeting that Is accorded TO any holder y
series stock of this association, each share
Two Hundred Dollars being entitled fo0e
vote.s
In order to accommodate small investors
The Board of Directors may issue this stotk
in fractional parts of ore-Aaif share, or ene-
quarter share, and said fractional part So
enjoy in Ike proportion the benefits enp!N
by full shares, two half shares, or four qu1r9
shares, being equal to one full share. IN
dividend stock can be transferred on The boo1
OF the association under the same ccndinos
ana requirements covering the TRANSFER =
series stock.
The holder of said dividend stock shall haFs
the right to withdraw same al any time |.
giving the association sixty days notice =
writing. ant. shall be paid in cash. al The WIZ.
dTawal value OF same the full face value 9
said stock, together with any accrued -
unpaid dlvide1ds, provided the Board o. "
rectors shall not be required TO use more -
one-haf of the receipts of the asscciatloa
wards paying off this class OF stock. "
Board OF Directors shall also have the n9mU
call and retire this dividend stock at any -
they deem il to the interest of the associenos
paying to the holder of same the fuil ne
value of said stock, and any accrued unpsA
dividends.
The number of shares Of dividend STOCK 80
standing at any time shall not exceed ~
total member of shares Of series stock 81
standing in all the series.
Nothing in this shall be sconstrued - ens@s
ing or changing in any way the series STOCK
this association.
Thus done and passed On this the IL ].
August, A. D., 1905. in the presence OF ~
Riser and j. w. Teddlie, legal and compes.
witnesses, who hereuntc su bseribe their naDs
with the said appearers. and me, Notary.
lie. Siess shsr
: e. c. Drew - -
j. d. Pace ---. -
H. T. Pye - -
n. NJ. Hyde per e. C. Drew -
apsl - -
j. Wallace.-----------------.------- ---------s
Attest.
j. w. Teddlie