The Opelousas courier., 1904-09-03
NO. 50

jeremiah Simon, two shares, George Davis,
two shares, Clayborne Lewis one share. LesSl9
Washington, two shares, Jude Allen. two shares,
Mrs. Emily Dejean, -, Mrs Ann Coleaaaa,
ARTICLE III.
The domicile OF this corporation shall ha in
the town of Opelousas, Parish of st. Landry.
State of Louisiana, and all citations. wrlta OF
legal process whatever, shall be- served on the
President, or in case of his absence or inability
to act, on the Vice President OF said corpora
tiOn.
ARTICLE III.
The object and purpose of this corporation.
and nature of the business to be carried on by
it, are hereby declared to be for the purpose
of assisting the members thereof In purchas-
ing, building. improving and repairing real
estate and homesteads, and removing incub-
brances therefrom, and for the purpose OF
loaning money to the members thereof, and
the conducting of such business IA may be
consistent with the terms OF this charter.
ARTICLE Nv.
The capital stock of this corporation IL here
by fixed at (@5O,OO0l fifty thousand ollars, and
the Association shall commences business an
soon rs seven thousand $4,000 shall have hern
subscribed. The same to be issued IN c0nse1u-
tive installments, or in one or more successive
series. The said capital stock shall be divided
into shares of one hundred dollars (s100), paya-
bic in monthly installments ut fifty cents per
share. This Association may also issue paid
up, full paid and permanent stock, payable on
such terms as may be hereafter fixed by the
bylaws. The capital stock OF this Association
MAY be increased at any future day by vote
of three-fOurths of the stockholders at any
meeting called for that purpose by publication
of at least seven days preceding said meeting.
ARTICLE v.
When upon due compliance with the forma'i-
ties required by law the stock of this Assocla-
ton shall be increased, the original st0ekhold-
ers shall by preference respectively have the
privilege OF taking shares in proportion to tho
shares already held by them, after which all
remaining shares shall be. disposed Of at not
less than par value by the board of directors to
the best advantage and interest OF the Asso-
citation.
ARTICLE VI.
Ali shares shall be payable by monthly in
stallments OF fifty cents. The board OF direct
Ors may allow discount of not less than six per
cent per annum upon advance payments on
stock.
ARTICLE VII.
Shares may be issued by the board of direct
Ors as paid stock in payment for property ae
quired by the Association, for payment OF labor
done. or for service rendered and accepted,
twothirds of the board eonsentipg
ARTICLE VIII.
The non payment OF monthly instalments on
shares shall subject the owner to an additional
liability Of five cents per month ON each share.
and a failure TO nav anch insfalments for thraa
consecutive months shall operate as an abso-
lutte forfeiture of the shares or share owned by
the delinquent, without notice. in favor of the
Association.
ARTICLE TX.
All corporate powers and the entire manage
ment of its business shall be vested in u board
of directors to be composed OF twelve stock
holders, seven of whom shall constitute u
quorum. for the transaction of business, each
of whom shall have in his own name ut least
three shares OF stock. From this board OF di-
rectors shall be chosen by the board. tho praai
dent and vice-president of this AssoaiatiSB.
Said choice to be made at the first meeting OF
each new board.
All checks or drafts for money shall be drawn
by the president, and shall be entered and oOhR
tersigned by the secretary of this Association
ARTICLE x.
The following named persons shall cOnatituts
the first beard OF directors, and so continna to
remain until the first Monday OF September,
1905, and until their successors shall have been
elected as herein provided, namely:
Finegan Hams, president; Sam Reed, vice.
president; David Locks, treasurer; Moses Bor-
| delon, secretary; Vim. johnson, Edgar Renty,
| Lawrence c. Simon, as Ballard. Felix Mack, ~,
| Henry White, III. e. Jones, Robert Rndolphe.
| ARTICLE XII.
The board of directors shall be elected hy the
stockholders by ballot on the first Monday tn
September, each succeeding year. Each share
| to be entitled to one vote, to be cast by the
| owner personally, or under his written proxy
to another stockholder, majority of the votes
1 cast eleeting. All vacancies on the board shall
be filled by the board from among the stock
| holders.
There shall be a secretary and treasurer
elected by the board of directors. Tho sec
retary shall receive such salary as may be de.
termined by the shareholders at their annual
meeting. They shall be removed by the board
for cause. The treasurer shall furnish bond
with solvent security, for the faithful per
formance Of his duties. the amount of the bond
to be fixed by the board, and the same to be
approved and accepted by them. The treasurer
shall deposit the monies of the Association in a
bank named by the board of directors.
ARTICLE XIII.
This charter may be changed, modified o.
| altered, or this corporation may be dissolve,
by and with the express assent OF three-fonrth
OF the stockholders at a special meeting ~
said stockholders called for that purpose, tel
days previous notice by mail, stating the ot
siect of the meeting.
II ARTICLE XIV.
No informality in the organization of thi
charter corporation shall have the effect of au
nulling the charter or expose any sbareholde
to any liability beyond the unpaid balance U
! his stock.
r The several offices as above mentioned i
this charter shall be respectively filled unit
| the next regular election for sHme by the TO
| president, Finegan Hams; Sam Reed, vies
Q president; David Locks, treasurer; Moses BO
delon, secretary, VIM. johnson. Edgar Renty
Q Lawrence G. Simon, James Ballard, Fell
n | Mack, sr, Henry White, Robert Rudolphe, H. i
Jones.
/ And member of this corporation who ma
thereafter wish to withdraw shall communica
his intention to that effect In writing to Il
board of directors at least thirty days In ~
kyance. Any shareholder Withdrawing With
one year after entering the Association mu
sell his stock to the highest bidder, less his pl
n rata OF expenses for the year. Any sharehold
x 4 withdrawing one year after entering the ass
citation shall receive only ten per cent OF ii
| profits of his share, to be sold with the stOt
as above. Transfers OF stock shall only
made upon the books OF the Association, IN
! by the issuance of new certificate thereto
, | for which charge of ten cents shall be mad
y ARTICLE XVII.
n All applications for stock shall be present
4 to the board of directors for approval
vi ARTICLE XVIII.
10 At the dissolution of this corporation
- | limit of time, by consent, or OtherA se,
3s affairs shall be Iiquidated under the sup
10 stockholders to be selected for that purpose
.. the board, who shall have full power to sell
" | assets OF whatever kind belonging to the As
s' citation, convey full and complete title there
. receive payment therefor, and generally to
y and perform all acts necessary for u faith
|" and complete settlement and liquidation OF
affairs.
Thus done, executed and signed before !
ta and in the presence of A. B. Pickett and x
va have signed with said appearers on the d
re- first above written
70 All errors and interiineatiOns made her
To was noted and approved by all parties bef
~ ~ Origi,,al Sig,.ed-s. Reed, P. l.. sllaa. Mo
- Bordelon, David u. Locks, Henry this x ma
av White, Robert this x mark Rud1lphe, Il