The southern sentinel., 1903-09-18

n;rsctnrs NAV. in their discretion, lend the
snrpIus fund on hands upon the STOCK OF tnls
association provided sad loan shaii stnct nos q
pledged; or the Board of Directors snail nave
authority to use surplus funds in retiring the
outstanding stock of the association.
ARTICLE TX.
Upon the death of stockholder, his legal
rights and privileges that belong to the de-
deased, or they may receive back the dues
actually paid by the deceased, and the por-
ton Of nx prGnts sna' nss may
penalties, etc., that may be due from said
deceased stock-older; provided. if the stock
is pledged to the association, the same shall
be first redeemed by said representative.
ARTICLE X.
The Board of Directors shall, semi
at the first meeting in July and January OF
each and every year, declare the withdrawal
value of stock, which value shall never be less
than eighty per cent. OF the dues paid, and the
value so fixed shall remain the price at which
a member may withdray shares until the next
semi annual valuation.
ARTICLE XI.
Any member not indebted to this association
may withdraw one or more shares OF STOCK
held by him upon giving one months written
notice to the President, and shall be paid for
every share of stock so withdrawn a sum
equal TO the withdrawal valuation for the
time being.
ARTICLE XII,
Each and every stockholder or trustee who
shall neglect or refuse to pay his monthly
dues or interest as often as the same shall
become ftFe and payable, shall forfeit and pay
the additional sum oi ten cents monthly on
each and every dollar due by him; dues of each
month taken separately.
All claims for dues, interest, fines and pen
alties shall be held as lien against the stock
of delinquent members or their assignees, and
when such claim shall amount 70 the sum
1of n arfulfty
such delinquent. the same shall be sold to the
highest bidder. after FIVE days written notice
20 The DELINQUENT, and the proceeds OF suc.
safe applied to the delinquency
ARTICLE XIII.
The Board OF Directors shall have power to
settle with borrowing stockholders, either par
tally or full, at any time before the stock has
reached par value, and upon the application
of such stockboider in a manner equitable to
The association and such stakeholder.
ARTICLE XIV.
All transfers of stock shall be made on the
books of the association. No shares snail be
transferred until after the payment of twenty
FIVE cents by the transferee for each certificate
transferred and the transfer approved by the
Beard of Directors.
ARTICLE XIV.
No stockholder shall ever be held liable for
more than his unpaid balance on his stock
nor shall any mere informality IN the organi-
zation have the effect of rendering this charter
null, or of exposing stockhoider to any ha-
bili.y beyond the amount of his stock.
ARTICLE XVI.
This charter can be altered, amended oil
modified, or this corporation dissolved by Q
resented at general meeting convened fol
that purpose, after ten days notice, published
in one of the newspapers OF the city,
ARTICLE XVII.
Special meetings of the stockholders shall
be convened al the request, in writing OF ter
hold cfa st,<y> "a and fc.r n,
Such meeting; but no other business thar
that for which such special meeting was called
shall be transacted thereat.
ARTICLE XVIII.
All certificates of stock must be signed BY
he President and attested by the Secretary
with the seal of the association attached, ane
must be duly numbered and recorded.
ARTICLE XIX.
The following shall constitute the Board o
Directors. and they shall hold office until tn,
| third Monday in July. nineteen hundred ane
chosen and qualified: N. NJ. Hyde, j. ID. Pace
y. I. Wallace, II T. Pye. P. K. Abel, lie. Siess
| g. G. Drew; with e. C. Drew, President; }. d
| Pace, Vice President; and II. T. Pye, Treasurer
ARTICLE XXX.
| The Board OF Directors shall have the powe
| at any time they deem it to the interest of tn,
association to sell full paid dividend stock in
addition to the series stock provided in Articl'
This dividend stock shall be issued in share,
CT Two Hundred Dollars each. and shall no
be sold for less than the par value of TIVE
Hundred Dollars in cash per share, in suci
amounts, and at such times as the Board o
Directors may direct. a dividend of one dol
| lar lSI.o0l shall be paid monthly on each shars
| of Two Hundred Dollars of this stock to tn,
holder of same, and said stock shall not par
1 t;cipate in any other way in the earnings OF
/ profits of this association, except the MONTH,
dividend of one dollar per share above men
toned, but the holder of said stock shall enjol
l q
meeting that is accorded to any holder q
series stock of this association each share o
Two Hundred Dollars being entitled to on,
| vote.
In order to accommodate small investors
The Board OF Directors may issue this stool
in fractional parts Of one-half share, or one
quarter share, and said fractional part shal
/ enjoy in like proportion the benefits enjoyes
/ by full shares, two half shares, or four quartz
shares, being equal TO one full share. Thi
dividend stock can be transferred on the book,
| of the association under the same conditions
and requirements covering the transfer o
series stock.
the right to withdraw same ut any time b,
giving the association sixty days notice ii
i writing, and shall be paid in cash. at the with
drawai value of same the full face value O
said stock. together with any accrued an,
unpaid divide ads, provided the Board of Di
rectors shall not be required to use more thai
wards paying off this class of stock Th
Il Board Of Directors shall also have the right 4
call and retire this dividend stock at any tim
they deem IL 70 the interest of the association
paying to the holder of same the full fac
value of said stock, and any accrued unpai
dividends.
The number of shares of dividend stock out
standing at any time shall not exceed tn
4 total member of shares OF series stock ont
standing in all the series.
Nothing in this shall be sconstrued as effect
ing or changing in any way the series stock 0
this association.
l Tins done and naSsed nm +b;s tha,o.h
August, A. D., 1868, in the presence of Cla
Riser and j. W. Teddlie, legal and competen
witnesses, who hereunto subscribe their name
with the said appearers. and me, Notary.
| 1. E. Siess s--.. -.-....... ! Share
| e. G. Drew-..- ....5 & q
j. d. Pace--...-........
Ii. It. Pye----~.---
II. NJ. Hyde per E. G. Drew.-....s5
l Z z. Aoci---- -.-------------.-------- -
]. T. Wallace -.------...-.-.---.--..--..-....5
Attest:
Clay Riser
j. w. Teddlie
DB. COATES