The weekly Iberian. (New Iberia, La.) 1894-1946, 1903-05-02

said Corporation shall be and is
amended so as to read as follows
ARTICLE VII.
Payments on shares, nstallments,
and interest shall be due and payable
weekly on each Saturday, at the office
of the Association. Any shareholder
in arrears five weeks in payment eth
er of installments Or interests on
shares shall forfeit and pay as a pen
altv the sum of five cents per share on
which no advance has been made, and
the sum of ten cents per share on
| which an advance has been made, and
the same for each similar subsequent
default, and said fines must be paid be-
| fore any further inst allments and in
terest can be received.
Any shareholder who shall become
six months in arrears in the payments
of the installm ents or interest due on
his shares shall by reason of such fail
ure and without notice, forfeit ipso
facto and without need Of any declar-
ton of forfeiture, all payments pre-
viously made by said shareholder, to-
gether with profits, interest and &C
cumulations thereon which shalt re-
vert to and become the property of
the Associations; provided that any
shareholder whose stock is thus for
feited may within sixty days after no.
tice of said forfeiture by letter deposit
ed in the postoffice at New Iberia.
addressed to the stakeholder at his
usual place of residence Or, if this
has not been made known to the Sec
rotary in writing, then addressed to
him at New Iberia, La, redeem the
stock thus forfeited by payment to the
Association OF an amount equal to ten
per cent of the difference between the
book value and the maturity value of
the shares thus f ,rfeited, said pay
ment to be credited to the profit ac-
count of the Association and upon the
further payment of all arrearages OF
installments, interest. fines. taxes, To-
cal assessments, insurance premium,
charges, etc.
Interest may, at the discretion of
the Board OF Directors, be allowed on
monthly payments made in advance
of those due within the current
month"; at rate to be fixed from time
to time by the Board of Directors. not
TO exceed six per cent per annum for
the time said payments run; provided
no interest shall be allowed on pay
ments in advance for shorter pei iod
than three months.
Thus done and passed at my Office
in the Town of New Iberia, Parish of
Iberia, La, on the day, month and
year first above written, in the pres
ence of Messrs. Albert Ribbeck and
William Bauman good and competent
witnesses who have signed these pres
ents with the parties and me, No
tary after due reading Of the whole.
f. F. Millard, Pres.
Walter J. Burke
j. w. Taylor
Lazard King
G. c. Laughlin
X. s. Mcmahon
Chas. L. Provost
Witnesses:
Albert Ribbeck
VIM. Bauman.
William G. Weeks, Notary Public.
State OF Louisiana,
Parish of IBERIA.
/, the undersigned District Attorney
in and for the 18th Judicial District
Court of Louisiana having read the
foregoing amendments to the Articles
of Incorporation of the Iberia Build
ing Association and finding nothing
therein contrary to the Constitution
of the United States of America or to
the Constitution and Laws of LOuisi.
ana, hereby approve the same.
Given officially this 2lst day of
April A. D. 1903.
Anthony N. Muller, Dist. Atty. 18th
Jud. Dist. Court
State of Louisiana,
Parish CT IBERIA.
], the undersigned authority, do
5 hereby certify the above and fore
: going to be true and correct copy of
e the original now on file and of record
in Miss, Book No. 4 folio of my
e office.
: In faith whereof witness my sigma
n ture and seal of Office, this 2arI.. day
y of April A. d. 1903.
Chas. L. Provost. Dt'y., Clerk o
u Court