The commonwealth. (Greenwood, Miss.) 1896-1923, 1905-04-22
The Charter of Incorporation of The
Bank of SidOn.

Kimbrough, L r. McShane, their asso-
ciates and successors are hereby
created a body corporate with the cor
porate name of the Bank of Sidon and
as such shall have succession for a
period of fifty years.
,. The domicile of said corporation
shall be Sidon, Mississippi.
3. Said corporation is created for the
purpose of conducting a general banking
business; it is authorized and en-
powered to loan and borrow money and
to give and take security therefor on all
kinds of property, endorsements, col
lateral or personal security Or in any
other manner; to receive deposits, to
discount and negotiate drafts, promis-
sorry notes, bills of exchange and other
evidences of debt; to buy and sell ex-
change, coin and bullion; to construct
and maintain safety deposit vaults for
others and charge and receive compen-
satiOn for the use thereof; to buy. own,
hold, sell or otherwise deal in all kinds Of
bonds, negotiable Instruments and all
chooses in action of whatsoever nature;
to acquire, hold and dispose of any and
all kinds Of property by it deemed nee
essary or proper for the conduct of it's
business; to act as agent for others in
the negotiation, purchase and sale of Sc
c]urities and chooses in action of all
kinds and Of all other property both real
and personal and in general to do any
and all things necessary or incident to
the purpose Of it's creation or proper or
convenient for the management Of it's
said business and welfare Of said cor
pOratiOn and said corporation shall
have, enjoy and exercise all the rights,
powers and privileges created or con-
ferred by Chapter % of the Annotated
Code of 1892 of the State Of Mississippi
and Of the Acts of the Legislature of
said state a~mmendatory thereof or sup
Elementary thereto.
4. The capital stock of said corpor-
alton shall be 100000 divided into
shares of $4,000 each.
). At any time after 100000 has
beer subscribed, the said corporation
may organize at a meeting to be called
for that purpose, by notice, in writing,
signed by n or moro of the above
named parties and mailed or delivered
to each of the subscribers not less than
two days before the time designated for
said meeting and after the sum of 81 800
90 has been paid in, the said corporation
may begin business.
6. The said corporation may, by a
majority vote of stock holders at any
regular or special meeting thereof adopt
bylaws for the government of said cor
pOratiOn, fixing the time and I'M of
calling, holding and conducting both
regular and special meetings of stock
holders and directors; determining the
mode of voting by proxy; prescribing
the duties and scope of authority of di-
rectOrs and of all officers elected by the
stockholders and directors or appoint
ed by cashier and president; n any
and all other bylaws necessary or prop
err for the welfare or convenience of
said corporation not contrary to law.
Z. Said corporation shall have a
board Of directors consisting of not less
than five nor more than members,
to be fixed by the bylaws. The said
directors shall be stockholders in said
corporation and shall be elected an
nually by stockholders of said cor
poration. The management and con-
troll of the business and the affairs of
said corporation shall be vested in said
board of directors, who may, subject
only to the bylaws of said corporation,
exercise any and all powers conferred
upon said corporation and, except when
otherwise provided by law or by bylaws
Of said corporation, may exercise the
same as fully and completely as might a
stakeholder of said corporation.
s. Said board of directors shall an
nually elect a president and v~ice-presi-
dent and cashier, all Of which said of
ficers and directors shall hold office I'M.
til their successors are elected. All
other officers, agents, and employees OF
said corporation shall be appointed by
and hold Office at the will of the cashier
with the approval and consent of the
president.
8 There shall be a lien in favor O
said corporation upon the corporate
stock of each stakeholder to secure the
payment of any and all Indebtedness OF
such stakeholder to said corporation
without regard to time when same was
contracted or when due and no sucf
stock shall be transferred until all in
debtedness of such ock-holder to sale
corporation shall ave been paid in full
The said lien may be waived at any tim.
by written endorsement, signed by the
president, vice-president or cashier o
said corporation.
10. Any stakeholder who may desir,
to sell the whole or any part of his cap
ital stock in said corporation shall. be
fore selling said stock, mail or deliYe