The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-04-18
Act of Incorporation of the
St. Mary Building Asso-
citation Of Patterson,
St. Mary Parish, Louisiana.
(Amcn,lel.)

At the annual meeting of the stockholders
of the st. Mary Building Association of Pat
tersOn, st. Mary Parish, Louisiana, conv ened
on the 10th day Of January. 1908, tten days
notice of said meeting having been given by
mail by the Secretary to all the stOckhold-
ers) the charter rs originally adopted by this
Association and amended on the 18th day of
January, 1898, was altered. modified and
amended to read as follows, to wit
Article /.
The name and title of said corporation
shall be THE st. Mary Building Association"
and under its corporate name it shall have
power to contract, sue and be sued; to max G
and use corporate seal and the same to
break and alter at pleasure; to hold, receive,
lease, purchase, convey and pledge under it's
cOrpOrat" name, property both real and per-
sOnal; to lend money on security: to name
and appoint such officers and agents as the
interest and convenience of said CORPORATION
may require; to make and establish such
by laws, rules and regulations for the proper
management and regulation of the affairs of
said corporation rs may be necessary and
proper, and the same to change and alte- at
pleasure; and to do all such acts and things
as are or may be proper and necessary to
carry out the objects of said corporation.
Article 2.
The domicile of said corporation shall be
in the town OF Patterson. Parish of st. Mary,
State of Louisiana, and all citations or other
legal process shall be served upon the Presi-
dent OF said corporation, or In his absence
upon the Vice.President, or in the absence OF
both these officers upon the Secretary.
Article 3.
The object of this corporation shall be:
!. To provide Il convenient. safe and pro
fltable method of investing the subscriptions
of its stockholders.
2; 70 furnish them with tue opportunity
of borrowing money on real estate security.
To carry out these objects the corporation
shall accumulate fund from the weekly
payments on subscriptions to the capital
loans, and from money received from OF her
lawful sources; the fund so accumulated to
he used for the purchase and sale of real es
tate and for the loaning Of money ON real
The corporation is hereby prohibited from
lending. money to any but its own stockhold-
ers and from accepting as security for such
loans property situated ousside of the par
ish of st. Mary.
The corporate powers of the corporation
shall be exercised by a board of nine direct
Ors, each of whom shall own not less than
five shares, who shall be elected by the
stockholders present, or represented at q
meeting to be held on the third Tuesday IN
January annually.
Each stockhOlder present or represented
at said election and not in default, shall be
entitled to one vote for each share possessed
by him or her.
shall be given by the Secretary through the
mail. Said election shall be BY ballot and
shall be held Mt the domicle of this corpora
ton under the supervision OF three stock
at the preceding regular meeting. The nine
stockholders receiving the highest number
OF votes cast shall be declared eiected.
The failure to hold an election on the law
specified shall not dissolve the cornnrsfinr
but the directors In offjce shall fnld over
until an election be held after ten daus ~
tice shall have been given by mail ~ the
time and place thereof.
The directors shall elect from their NUM-
Der president and vice -presIdent Fonr
directors shall be quorum for the transac.
ton of business. The directors shall elect .
secretary, y treasurer and such other ofiicers
and employees as may 81 necessary: and
they shall have power TO enact bv laws NOT
repugpant to. this. charter, TO select their
places OF meetings, to suspend any officer or
director for neglect Of duty or misconduct.
and name and appoint their successors 81
provided for in the bylaws, and shall have
general authority to carry out the objects
and business OF the corporation.
Article5.
The capital stock Of said corporation shall
be one million dollars, which shall from the
date of January 10th, 1903, be issued n sncil
smoInss - sne BOARD q directors shall de-
sc1 'n'ne unuor o..c ~ tne TOUR plans, to-wit:
serial stock.
serial STOCK snaIi pc issued in quarterly
SSeEses 2! nos poEe tnaH two hHndred and
FLY snaIes Gacn ., nacn snare shan represent
swC . l1h9aeu GOiiaIs anu Snaii De paid for by
MA N. .nGi.;, y ~ p cents per share