The Starkville news. (Starkville, Miss.) 1902-1960, 1905-11-24

The MERCHANTS AND
PLANTERS BANK
STURGIS, MISSISSIPPI.
SECTION /. Be 1t known that, FL. o. Nc
Main, Citronell, Ala, g. e. Galceran,
T. s. Jackson, A. F.Richardson, G. G.
Morgan, Sturgis, Miss, and their assoc
iates, assigns and successors are hereby
incorporated and made body politic
under the name and style of THE
MERCHANTS AND PLANT
ERS BANK and by that name may
sue and be sued, plead and be implead-
ed In ell the courts Of law and equity
In this state, and may have common
seal and alter same at pleasure. The
domicile of this corporation shall be in
the town o: sturgis, Oktibbeha county,
state of Mississippi, and it shall have
succession for period OF fifty (5O)
years from the date of the anthorta-
tive approval of this character.
SECTION 2. The Capital Stock of this
Corporation shall be the sum Of Twenty
five Thousand Dollars (se5, ,OOo) to be
divided into shares of value of Fifty
Dollars $4,000 each; said corporation is
under this charter authorized to begin
business whenever the sum of Fifteen
Thousand Dollars U5,O0O have been
subscribed, and the sum of Seven Thou
sand Five Hundred Dollars 5000
shall have been paid In cash and this
charter duly and authOratatiVely ap.
proved. No share holder shall be held
liable for any amount over and above
the gross amount of the face value of
the shares of stock by him held, for the
debts and liabilities of this corporation,
and this corporation shall have lien
on the stock OF the shareholder for any
debt due the corporation including any
balance left unpaid of the amount OF
shares of the Capital Strck of this cor
poration shall be transferable only up
on the books of the corporation.
SECTION 3. The objects and purpos'
es Of this corporation are, and is hereby
and hereunder empowered to transact
the business of receiving deposits ot
monies, discounting notes and securi
ties and doing and performing all man
nor Ct acts pertaining to the general
banking business consistent with the
laws of the State of Mississippi, Oh
corporation by the annotated code OF
Eighteen Hundred and Ninety Two
IS92) and the acts amendatory there
to.
SECTION 4. The officers of The cor
poration sh III be president, Vice-pre
ident, cashier and board of directors
The board Of directors shall consist oi
not less than seven (7) persons and
shall be elected by the share holder a,
the regular annual stockholders meet
ings which shall be held OH the 18th day
of January each consecutive year, ex-
cept when such day shall be legal
holiday, in which event said meeting
shall be held on the next succeeding
dav. All vacancies in the board OF di-
rectors caused by death shall be filled
for the remainder of it's unexpired term
by two-third's majority vote OF the
remaining Directors, each director shall
exercise tho functions of his position
until his successor has been duly elect
ed and qualified. The President, Vice.
president shall be elected by and from
the Board of Directors. The Cashier
she'll be elected by the Board OF Direc-
tors which shall determine their res
pective compensation, duties and term
of Office.
SECTION s. Said corpol alton shall
have the power to adopt all reasonable
and necessary bylaws, rules and regu-
lations for the management and con-
duct of the business of said corporation
not inconsistent with the laws of the
State of Mississippi and OF the laws of
the United States of America.