The progress., 1904-12-31
THE CHARTER. OF INCORPORA
TION OF THE OCEAN SPRINGS
STATE BANK.

| of December A. D.. 1904. q. j.. Bailey.
Geo e. Arndt, H. +. Russell, r. j.
Lnndy. A. L. Staples and l.. A. Lundy.
BY virtue OF the provisions Of Chapter
twenty-five (25) of the Annotated Code
OF Mississippi. and the acts amendmtory
thereof, do hereby found and organize a
corporation for the objects and purposes
hereinafter enumerated; and 10 that end
and purpose they do by these presents.
with The approval OF the Governor Of
the State of Mississippi. form ard con-
stltute themselves and all such other
persons as may hereafter become as
sociated with them. whether by sub
scripiion. purchase or otherwise. into
body polite and corporate in law under
the following articles of the Charter OF
said Corporation, towit
ARTICLE lsT. The name and stvle Of
this CORPORATION shall he the OCEAN
SPRINGS STATE BANK, and in
that name it shall exist for fifty years
from the date of the approval of this
Charter, and may by purchase or other
wise acquire, have. hold and enjoy such
real and personal property as may he
| required for the purposes for which
this organization is formed. not TO eA-
coed however the limit fiyed by the
laws Of the State Of Mississippi, for
corporations Of this character; and shall
l.in-addition possess all the rights, powers
and privileges which corporations nm
der,fthe general laws Of he State Of
Mississippi are authorized to exercise or
possess. ~
ARTICLE 2ND The domicle of ths
| Corporation shall be At Ocean Springs,
Jackson County. Mississippi.
O..i.S -
I this corporation is hereby fixed at Fiji
teen Thousand Dollars ($l5.000.0W. di-
vided into Fifteen Hundred shares of
One Hur dred Dollars $500 00) each but
NAV al any time be increased 10 Twenty
Five Thousand ($25. 100000 Dollars. by a
vote or the majority OF the Stockholders.
ARTICLE .4TH. AS soon as his char
Iter shall. be approved the said q.
L Bailey. GEO. e Arndt. II. f. Russell.
F.'J Lundv A. l.. Staples aud l., A.
LuntlN. shall at the domicle of the COR
poralion open books of subscription 10
the stock Of said bank, and when Nine
Thousand ($9.0O00O) shall have
been subscribed a meeting OF such
subscribers and stockholders shall be
called. Of which meeting all subscribers
10 stock. shall have notice, and al
stock, or stockholders. shall elect
Seven Directors of said bank. each of
whom shall be the owner of at least one
share of The stock Of said bank. TO serve
as such until the first Monday IN Janu-
airy A. d 1906.
ARTICLE 5TH The corporate powers
of this corporation shall be vested in q
Board Of Seven Directors. each OF whom
hall l,.n Il, l, 4, lar "a n
shall be elected bv the Stockholders
within thirty DAYS after the approval Of
this chartet. and on The first
Monday in January. A. d.. 1905
and annually thereafter on. the
first Monday in January Of each |
year. Elections shall be by ballot ard |
each stock holder shall be entitled 10 |
one vote for each share Of stock !
held by him. TO be cast by the Owner or
by his written proxy. The Board of
Directors at their first meeting and
ANNUALLY hereafter following every
electiontof stockholders shall organize
by rlecling President. Il Vlce-Presi-
dent. Cashierand an AssistanlCashier,
provided that the Offices of Cashier and
Assistant Cashier may be held by per-
'ons .gho, are not Directors of said
Bank.
Yhe Directors and Ollie elected
sna!l Did office until their successors
IRE elected. Vacancies occurring on
be Board of Directors may be filed by I
Er ckholdrrs at an election to be
ltid for that purpose on ten davs notice
@ be gi1en IN writing to each person
hen holding stock in said bank as
Shown by the books of the Bank. A
majority of the Board>of Directors shall
.onsthAte u quorum; said Board may
lppoint from lime 10 time. also dismiss
IT their pleasure such ollicers. agents,
Jerks or other employees as they may
leem necessary for the business and
purposes of SAID bank they may estab-
Ish. as well asAlter and amend all such
bylaws. rules And regulations as they
nay deem NECESSARY for the manage
nent Of SAID Bank.
In WITNESS WHEREOF. the said IN,
'orporators hereunto set their hands
he day aud year first above written.
q. l. Bailey.
Geo. 4. Arndt,
ii. F. Russell,
Frank J. Lundy,
A. J.. Staples.
L. A Lundy