St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1903-10-10

that both of said notices, set out the
said purposes and objects, as well al
the time and place of said meeting:
that the same had been called to de.
termine whether or not the Charter Of
said corporation should be changed
altered or amended, added to or en-
larged, by changing the name of said
corporation from the Bank of Coving-
ton, to the Covington Bank and Trust
| Company, and to increase the capita
stock thereof to one hundred thousand
dollars, (Sl0U,000,) and also to enable
said corportion to avail itself of the
benefits and advantages of Act No. 45
Of the General Assembly of the State
Louisiana, of the year 1909, by accept.
ing the provisions of said Act and
amending the charter CT said corpora.
tion accordingly.
That on the above said date the meet
ing convened, and there was present OF
represented, more than two-thirds OF
the capital stock Of said corporation,
and by q vote of more than two thirds
of the capital stock, the charter of the
Bank of Covington was altered and
amended, SO as to be made to read az
| follows:
ARTICLE /.
The name of this corporation shall be
| CONVICTION BANK AND TRUST
COMPANY, domiciled in the town OF
Ccvington, St. Tammany Parish, Lou
iSiana.
ARTICLE II
This association shall have and pos
sess all the powers granted to banking
associations, savings, safe deposit and
trust banks under the provisions of
Act No. l66, approved March Is, 1865,
entitled can Act to establish a general
system of free banking In the State of
louisiana" as amended and re. enacted
by various subsequent statutes of the
State of Louisiana, and particularly by
the provisions of Act No $50 of the
Acts of 1888, approved July IL. 1888;
Art No. 50, of the Acts of 1892, ap-
proved July Z, 1892, and Act No. 45 Of
the Acts of 1902. approved June 81, 1902.
ARTICLE III.
The amount of the Capital Stock of
this Company is hereby established at
One Hundred Thousand Dollars (elOO.
0OO) divided into one thousand (l0OO)
shares of one hundred dollars each.
ARTICLE v.
Its affairs shall be managed BY q
Board of Directors of twenty-five per-
sons, seven of which shall constitute
quorum to do business. the first Board
of Directors under this amended char
ter to be elected when these amend
ments go into effect, which will be on
Monday. November 2, 1908; that said
Board shall serve until the second
Tuesday In January, 1905, on which
date, and on the same date each year
thereafter, there shall be elected q
Board of Directors annually. The cleo
tions shall be by ballot and conducted
by three commissioners appointed by
the Board of Directors. Notice of such
election shall be given by publication.
not less than ten days prior to such
election in one of the Newspapers pub
lished in the town of Covington. Every
holder of stock shall be entitled to one
vote for each share of stock standing
in his name on the books of the Asso-
citation, to be cast in person or by
proxy, and the majority Of the votes cast
shall elect.
Any vacancy on the Board Of Direc-
tors, shall be filed by the remaining
Directors. A failure to elect Directors |
on the date above specified shall not
the Corporation, but the Dr.
rectors then in Office shall remain In |
Office until their successors are elected |
and quilted, and shall cause another
after notice has been pub
lished as above provided. The first
Board Of Directors elected under this
Charter, and the Boards there
after elected, shall elect from their own
number by ballot, q President and as
MANY Vice Presidents as tile Bylaws
shall direct. Said Bosrd of Directors
may appoint from time to time, such
officers, agents or clerks and other en-
ployees as they deem necessary for he
purpose and business of said corpora
lion. who shall hold Office at the pleas
IRE of the Board of Directors. The said
Board of Directors may make and es-
tablish, as we'll as alter and amend, any
md all bylaws. rules and regulations,
necessary and proper for the conduct
md management of the business and
sffa1rs of said Corporation. All the
oOwers Of this Corporation are hereby
vested in the Board of Directors. ex-
,ept those specially reserved by law and
~ this Charter to the Stockholders.
The Cashier appointed by the Board of
Directors shall be custodian OF the seal
IN which shall be engraved "COVING-
TON BANK AND TRUST COMPANY,
Corporate Seal, Covington, La"
ARTICLE TX. /,
This act of incorporation may be
modified, changed or altered. or said