The southern sentinel., 1903-09-11
CHARTER
WINFIELD BUILDING AND LOAN
ASSOCIATION.
ARTICLE 1.

,n;ax sccess;on under its ssid corporate name
or aycrm of ninety nine ye.srs from the GATE
hereof unless sooner dissolved IN the manner
provided for; to contract, sue and
be sued, to mcke and use corporate SEAL
and the same to break or alter at pleasure;
10 hold, receive, lease, purchase ana convey,
nnder its corporate name, property, ootn real
and personal; to lend money on security; 10
name and appoint such officers and agents as
the interest and convenience OF said associa-
ton may require. to make and estahiisn snch
5yiaws. reles end regulations for the proper /
affairs OF said corporation IS may De necessa,
~ and proper, and the same to change ana
such actsa and things as are or may be requisite
and necessary to carry ont the on1ects ana
purposes Of this corporation
ARTICLE II.
The domicile of said corporation shall be in |
the town OF Winfield, parish Of Winn, state
the President, or in his absence, on the Vice
President.
ARTICLE HI.
The objects and purposes Of said. corpora
ason shall be the accumuiatioA OF q hnd from
The monthly installments paid ON account OF
subscription to the capital stock Of this asso-
citation, from rentals, premiums, anc interest
on loans.
the purchase and sale of real estate, the build
ing, renting and sale Of homesteads, and the
lending os noney upon mortgage or otner
security in the parish of VIM, but no loan
made without the consent OF at least two
thirds of the Board of Directors
ARTICLE w.,
The carital stock of this corporation shall be
million dollars divided .nto nxe inoasain msa Ia
three classes, designated as class class
i.B,i. and class .sC's, payable in inctallments
q stnek. OK and one dollar and fifty cents
500 per month for class stock.
Each class of stock shall be issued IN series
aomi~ated respectfully, A, B, G. etc.
The Board OF Directors shall regulate the
issue Of each series provided there be an inter
val of st least three months between eacn
No member shall own more than twenty.
Eve shares in each series, unless, ana excep,
for the purpose of borrowing thereon IN wnlcn
event q stakeholder may purchase ana owl
any number of shares in any one series, pro
vidcd he becomes a borrower on ali ms shares
sasuch series within ninety days aiter ne
borrow on all his shares within the specinec
time the Board OF Directors shall ~ the ex-
piratson of ninety days cancel the e!cess o.
stcck over twenty-five shares fprovided nc
OArt Of tNe soan be cancened) and pay TO the
owner of same THE withdrawal value OF tnt
stock at the tins~ OF Cancellation. whenever
ofsuayu.ents of issseal.me nts and accumnls-
hundred dollars each, suck series shall be
liaaidased As 5. specify Pee - = c1 asS whenever ever
sesres ~srr.sentinf III !. last remaining series
shah be worth two nnr dred dolA rs each, OF u
case of dissolution or terminastion OF Inn tnis
Be liquidated BY I'VE commissioners selectsu
by the Board Of Directors from among the
stockholders, said commissioner 2 nave sns n
sclecfinr from the stockholders any one eiagi-
Bile under this charter - Director.
ARTICLE v.
al no~ers OF this corporation shall BE exer-
cised BY Board Of Directors from among tnt
q stock q tie sssocsssion. said Directors e
Sc elected q . general meeting convened To-
that purpose on the fourth Aonday IN yuy
Of July. nineteen hundred and four.
Notics Of such meeting shall be published Y
one OF more of the newspapers OF Wlnnneid
for the space Of ten days, immediately pre-
ceeding said election.
Said election shall be by ballot at the domi
cile OF this corporation under the supervision
not directors, appointed by the board OF direc
tors ct the last preceding meeting. The poll
shall be opened for voting at such election
I Eaca share Of Of stock is entitled to one vote
and the stockholders receiving = majority o
the votes cast shall be elected: Failure 4
dissolve this corporation, but the directors il
Office shall hold power until an election b
held. altar ten DAYS notice Of the time ant
The dirtctors shall elect from their numbe
President, y Vice President and Treasurer
Five directors shall b . quorum for tn
iority Of the board shall be required in orde
S Gle: IS shan al 6e Siied 81 remaining members
stockholders. tc % The President % shsil select an,
appoint = Secretary, and the directors shAl
select an Attorney, . Notary, and such othe
e Is Ssa e g
Board of Directors may allow and pay prope
compensation to other employees and oacer
Of the company e. ,eavlce, rsndesed e q snsn s1
laws, defining duties OF ofhccrs; TO select
place Of meeting; to suspend any and .
ccsrs Snd have s1ssaGS.y 3 sSa 20 CAT
But they shall not have power to purchas
real estate, except for cash, NOR contract m
indebtsdnsss N excess Of the amount Of or
treasury previously paid in.
The Secretary and Treasurer shall each, Il
the fsisnin, a o. s h,s H. OF nsr dTf1s q
one thousand dollars, and the Treasurer in
sum not less than three thousand dollars.
ARTICLE VI.
Each stockholder for each share Of stock /
may hold in the associotion. shall be elligib
to receive from the funds Of the association
loan Of two hundred dollars, less the premium
offered. Whenever the funds in the treSsul
shall warrant, one OF more loans shall be dil
est voluntary premium, in such manner - Il
Board OF Directors may determine.
stockholders taking loans shall pay interes
eight per cent. per annum.
In case Of failure 70 give satisfactory secu
ity for such loan within one month Of the d.
said purchases, together with Ill costs q
charges or expenses attending examinatic
OF titles and searches. and the money aha
be deemed suf1cient unleas anuroved Nv