The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1903-03-14
Act of Incorporation of the
st. Mary Building Asso-
citation of Patterson,
St. Mary Parish, Louisiana.
(Amcnded.)

| At the annual meeting of tho stakeholder
| of the st. Mary building Association of Pat
terson. e. Mary Parish. louisiana, convene,
| on the 10th day Of January, 1903, tten day
notice of said meeting having been giveu s.
| mail by the Secretary to all the stockhold
ers) the charter as originally adopted by THU
January, 1883, was altered, nodded ant
amended to read AS follows, to wit:
Article /.
The name and title Of said corporation
shall be "The st. Mary Building AssOciat
and under its corporate name it shall have
power to contract, sue and be sued to make
and use corporate seal and the same Ia
break and alter at pleasure; to hold, receive
lease, purchase, convey and pledge under its
corporate name, property both real and per.
sOnHl; to lend money on security: to name
and appoint such officers and agents rs the
inei u and convenience Of said corporation
by laws, rules and regulations for the proper
management and regulation of the affairs Of
SAID corporation % may be necessary and
proper, anu the same to change and alter ut
~ are or may be proper and necessary 70
curry out the objects Of said corporation.
Article 2.
in the a0miG,ie Of said cooperation shall be
state OfA.ouisiana. and all citations or other
legal prOcess shall be served upon the Presi-
dent u said corporation, or in his absence
upon the vice,President, or In the absence Of
Article 8.
Tne OBJECT OF this corporation shall be;
l.. To provide convenient, safe ana pro.
a y 70. method 81 investing the subscriptions
z. To furnish them with the OppOrtunitv
y borrowing money on real estate secpritv
, To carry out thcs. objects the corporation
ny x,n av.amaiatS fund from the weekly
tOck' tug monthly payments Of interest on
Oans, ana from money received from other
awful sources; the fund 50 accumulated to
" used for the purchase and sale of real ..s.
ate and for the lOaninK Ut money on real
state security.
The corporation is hereby prohibited from
ending money to amy but its own stoc khoId-
pans property situated outside OF the mar.
Oh Of 81. Mary.
Article4
Inc corporate powers of the corporation |
nall be- exercises by board Of nine direct-
rs, each Of whom shall own not Iess than
We shares, who shall be elected Nv the
.ock noiuere present, or fepresented ut 4
,SS.,ng 20 .. held ON the third Tuesday in
Each stockhOider, present or represented
saiu election and not In default, shall bs.
ntitled to one vote for each share possessed
Y him or her.
At least ten days notice of said election
iaii be given by the Secretary thronRh the
Nil. Said election shall be by balIe,t and
lAli Dc held ut the domicile of this corpora.
o oia. ansor .ne supervision Of three stock.
o!aers appointed by the Board Of Directors
the preceding regular meeting. The nine
OckhOiders receiving the highest numher
r votes cast ~; shall be declared elected.
. nnS . lure 70 aoia an election on the day
It the directors In ofiice shall hold oysr
It'll an election be held after ten DAYS no.
e snail nal n have been given by mail II the
The directors shall elect from their num-
r presidents and vice. president, -four
rectOrs shall be quorum for the transact. !
IN OF business The directors shall elect a
c u treasurer and such other officers
ey shall nave power TO enact By laws not
pugnant to this charter, to select their
noes OF meetings, to suspend any Ofiicer or
.sc ,o 10. s, neglect Of duty or misconduct,
divided TOR In the BY laws, and shall have ,
neral authority to carry out the objects ..
d business Of the corporation.
Article5.
The capital stock Of said corporation shall j
one million dollars, which shall from the ;
te OF January 10th, 1903, DO issued in such !.
counts - the board Of directors shall de. /
mine pnder one Of the four plans, to.wit: I
Serial stock.
'crial stock shall bo issued In quarterly =
YES OF not more than two hundred and I
y shares each. Each share shall reprcsent
y hundred dollars and shall be paid Tor by
~. c mstI,men i, ct ct . cent? per share
snare % such dividends rs may be appor- !.
ned to IL by the board Of directors. Xt the 7
~ ~ ~ S eGcn quarter or ecch year as the
i period shall Do apportioned in such man.
as tne Board OF direct0rs may determine.
adivtdend In accordance Herewith shall
credited to the maturity value OF each
lre In force at that time. e
Whenever the shares Of any series by rea. ;
OF tho payment ON account Of subscrip-
- thereto, together with the additions Of =