The Opelousas courier. [volume] (Opelousas, La.) 1852-1910, 1904-09-10
NO. l

Avn We n
jeremiah Simon, two shares, George Davis,
two shares, ClaybOrne Lewis, one share, lessio
Washington, two shares, Jude Allen, two shares,
Mrs. Emily Deiean, -, Mrs. Ann Coleman,
ARTICLE II.
The domicile of this corporation shall be In
the town of Opelousas, Parish of st. Landry.
State of Louisiana, and all citations, write OF
legal process whatever, shall be served on the
President or in case Of his absence or inability
to act, on the Vice e-President of said corpora
ton.
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 read
estate and hOmesteads, and removing inculD-
brances therefrom, and for the purpose OF
loaning money to the members thereof. and
the conducting of such business rs may be
consistent with the terms of this charter
ARTICLE Nv.
The capital stock of this corporation is here
by fixed at $3.50 0OO) fifty thousand collars, and
the Association shall commences business as
soon as seven thousand (s7 000) shall have b6eH
subscribed. The same to be issued in cOnsecu-
tive installments, or in one or more successive
series: The said capital stock shall be divided
into shares of one hundred dollars (sl0Ot, paya-
BILE in monthly installments at fifty oents per
share. This Association may also issue paid
up, fu paid and permanent stock, payable on
such terms as may be hereafter fixed by tho
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 formal
ties required by law. the stock OF this Assocla-
tiOn shall be increased, the original stockhoid-
ers shall by preference respectively have tho
privilege of taking shares in proportion to the
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.
All 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 aunum upon advance payments ON
stock.
Shares may be issued by the board of direct
| ors as paid stock in payment for property ac-
quired by the Association, for payment OF labor
| done, or for service rendered and accepted,
two-thirds of the board eonsentiDg.
| ARTICLE VIII.
| The non-payment of monthly installments on
shares shall subject the owner to an additional
| liability of five cents per month on each share,
| and failure to pay such installments for three
| consecutive months shall operate as al absO-
| lutte forfeiture of the shares or share owned by
|
ARTICLE TX
| Ali corporate powers and the entire manage
ment of It's business shall be vested i'll board
| of directors to be composed of twelve stock
| holders, seven OF whom shall constitute %
quorum, for the transaction of business, each
| OF whom shall have in his own name at least
three shares OF stock. From this board of di-
rectors shall be chosen by the board. the pres-
dent and vice-president OF this Association.
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 conn-
tersigned by the secretary OF this Association.
| ARTICLE K.
The following named persons shall constitute
the first beard of directors, and 80 oOntinne to
remain until the first Monday OF September,
1905, and until their successors shall have been
elected as herein provided, namely:
Flnegan Hams, president; Sam Reed. vice
president; David Locks, treasurer: Moses Bor-
delOn, secretary; VIM. johnson, Edgar Renty,
Lawrence G. Simon, Jas. Ballard. Felix Mack, ST,
Henry White, H. E. Jones, Robert Rudolphs.
ARTICLE XI.
The board of directors shall be elected by the
stockholders by ballot on the first Monday In
September, each succeeding year. Each share
to pe entitled to one vote, to be cast by the
owner personally, or under his written proxy
to another stockholder, majority of the votes
cast electing. All vacancies on the board shall
be filed by the board from among the stock
holders.
There shall be a secretary and treasurer
elected by the board of directors. The 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 tile 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 Oh
altered, or this corporation may be dissolved
, by and with the express assent of threefourths
OF the stockholders at o special meeting al
said stockholders called for that purpose, tel
J days previous notice by mail, stating the OBJ
lject Of the meeting
II ARTICLE XIV.
II No informality in the organization of thi,
charter corporation shall have the effect of an
nulling the charter or expose any shareholder
to any liability beyond the unpaid balance o
his stock.
The several offices as above mentioned IL
this charter shall be respectively filled unit
B the next regular election for same by the fol
! lowing named incorporators to-wit: That
president, Finegan Hams; Sam Reed. vice
! president; David Locks treasurer; Moses Bor
delon, secretary, VIM. Johnson; Edgar Rsnty
I Mack, sr, Henry White, Robert Rudolphe, II.
\ Jones. -
ARTICLE AVA.
. | And member of this corporation who ma
, hereafter wish to withdraw shall cOmmunicat
his intention to that effect In writing to tb
y board of directors at least thirty days In ad
vance Any shareholder withdrawing within
one year after entering the Association mus
sell his stock to the highest bidder, less his pr
rata of expenses for the year. ANY sharehOlde
| withdrawing one year after entering the asst
citation shall receive only zen per cent OF tn
/ profits of his share, to be sold with the stOc
as above. Transfers OF stock shall only b
made upon the books of the Association, an
by the issuance of a new certificate therefor
for which charge of ten cents shall he made
ARTICLE XVII.
All applications for stock shall be presemte
4 to the board of directors for approval
ARTICLE XVIII.
At the dissolution of this corporation u
= limit of time, by consent, or Otherwise, h
4 affairs shall be liquidated under the supe
vision of three commissioners from among ti
I stockholders to be selected for that purpose h
d the board, who shall have full power 10 sell q
= assets of whatever kind belonging tn the Asa
A citation, convey full and complete title theret
receive payment therefor, and generally TO q
/; and perform all acts necessary for faithf
% and complete settlement and liquidation OF /
affairs.
4 Thus done, executed and signed before n,
v and In the presence of A. B. Pickett and ke
have signed with said appearers on the da
- first above written.
- Ali errors and interlineations made here
~ ~ was noted and approved by all parties befo
4 signing.
= BordelOn, David b. Locks, Henry (hls x mar
a. White, Robert This < markl RudOlphe, La
rNn1.~ Do VlyNA MI G