The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1905-09-16
The Charter of Incorporation of
The Bank OfHOlcOmb.

Section 1-D. I; Holcomb, 4; p, Williams,
J. w. Wood: J IS. Early. Z: A. Staten. II. y.
Jones, E.. II. Mcs6ane and Others, their ASSOC
ciates and successors, are hereby created q
body corporate with the corporate names Of
The Bank OF Holcomb, and as such shall
have q corporate seal and succession for the
period OF fifty years.
Section 2-The domicile of said corporation
shall be In the town OF Holcomb, Grenada
County, Mississippi.
Section 3-The said corporation is created
for the purpose OF carrying on IL general
banking. exchange and brokerage business,
receiving deposits, designating paper and
making loans on real and personal security,
and said corporation is authorized and en-
powered to buy, lease, or otherwise acquire
and hold, OVID, rent, cucumber, sell or other
wise dispose or real estate. and may own
and acquire any and all kinds OF personal
property, bonds and other securities, and
obligations, and may sell, convey and trans
| fer the same, may borrow and lend money.
and may give and take securities for the
payment Therefore; and generally shall have
all the powers, and privileges conferred or
created by Chapter rs of the Annotated
Code Of Mississippi, and acts ~amendatory
thereof.
Section 4.The capital stock Of said corpo:
ration shall be one hundred thousand dol
lars (S10O,00 .00), divided into shares OF one
hundred dollars 100000 each.
Section Sat any time after fifteen thOus-
and dollars of the said capital stock has
been subscribed, twenty per cent of which
shall have been paid in, and not before, the
said corporation may organize and begin
business. at a first meeting to be called for
that purpose, by Il notice in Writing of the
time and place of said meeting, signed by
one or more OF the above named persons
and mailed or delivered TO each subscriber
at least five days before the time appointed
for said meeting.
Section 6-Said corporation may, by Il ma
iority. vote Of the stockholders at any regu-
lar or special meeting thereof, adopt bylaws
Tor the government OF said cOFnOratiOn.
fixing the time and manner of holding and
conducting meetings. both regular and
special. OF the stockholders and directors;
determining the number of shares that shall
entitle a member to vote, and the mode of
voting by proxy; prescribing the duties. sal
aries and scope OF authority OF all officers
and directors, and the terms of Office of such
officers as are not provided for in this char
ter; the course and extent of the business
OF said corporation; and all and any other
bylaws needful or proper for the welfare or
convenience OF said corporation, so long as
the same are not contrary to law.
Section Said corporation shall have a
board OF directors consisting OF five or more
persons. the number thereof to be fixed by
the bylaws OF said corporation, who shall
be stockholders of said corporation. and who
shall be elected annually by the stockhold-
ers and shall hold office until their success
sOrS are elected. The management and con-
troll OF the business and affairs of said cor
p~oration shall be vested In the said board of
directors, whO may, subject only to the by
laws of said corporation. and except where
otherwise provided by law or the bylaws of
this corporation. exercise such powers as
fully and as completely as might the stock
holders of said corporation.
Section s. The said board OF directors shall
annually elect a president. vice-president
and cashier of said corporation. and such
other officers and agents and employees as
they may deem necessary or proper for the
welfare of said corporation, who shall hold
Office at the will of the said board Of direct
ors. and receive such compensation as may
be fixed by said board. 9-9-3t