The leader., 1905-06-21
CHARTER OF INCORPORATION
Of Planters Bank, BOgue ChittO,
Mississippi.

SECTION 1.--Be it remembered that d. C.
CoNEY, DAN BoIIAN, FRANK CONVERSE,
AND b. r. BRIsTER and those hereafter asso-
ciated with them and their successors, are here
by constituted body polite and corporate
under the name and style of PLANTERS BANK,
and by that name may sue and be sued, plea
and be impleadedin all courts of law and equi-
ty and have a common seal; may contract and
be contracted with; may acquire, hold alien,
cucumber and otherwise dispose of property,
both real and personal, necessary for the trans
action Of its business. and shall possess and en-
Joy all powers, rights and privileges of such
corporations prescribed by Chapter Twenty-Five
(25f of the Annotated Code of Mississippi, 1892,
and the amendments thereto. The domicile Of
Mississippi.
SECTION 2-This corporation is hereby au-
thoriZed to carry on general banking business.
including both the business of discount and de-
posit, and savings bank with all of the powers,
express or implied thereto; to receive and hold
on deposit and in trust, and as security real
estate and personal property, including notes,
bonds, obligations, mortgages, chooses in action
Of individuals, corporations, municipalities,
states and United States, and the same to pur-
chase, collect, adjust, supply, sell and dispose
of, with or without its guaranty or endorsement;
to receive and loan money on pledges and Securi-
ties of all kinds, real or personal; to act as loan
broker, and as agent for the negotiation of loans
for any individuals or corporation, and to charge
such compensation or commissions as may be
SECTION 3-The capital stock of said corpor-
alton shall be Ten thousand dollars $40 O00) and
may be increased by resolution of the stock
holders to Thirty thousand dollars 1880 000), and
the stock shall be divided into shares of One
Hundred dollars ($10Ol each The corporation
may commence business when Five Thousand
dollars ($5 000) of the stock has been subscribed
and paid in. The stockholders shall not be liable
for any amount exceeding the unpaid portion
of the par value of the stock subscribed by them
respectively.
SECTION 4.-The management OF the coFpo-
ration shall be confided to board of directors,
to consist of three or more members, of whom a
majority shall be a quorum to transact business.
Members of the board of directors shall all be
stockholders and shall be elected annually by
the stockholders.
SECTION 5.-W men any deDG due the corpora
tion shall be secured by the deposit of collateF-
ais, or other securities, and it shall become n G.
essary to sell or dispose of the securities to pay
the debts due the corporation, 1t shall be unlaW-
full for any officer or employee of the bank, OF
member of the board of directors, to pay the
debt so secured to the corporation, and directly
or Indirectly appropriate the securities to his
Individual use and profits; but such securities
shall be sold and disposed Of solely for the use,
benefit and profit OF the corporation.
SECTION 6.--The board of directors shall
Der of officers of the bank and to makey adopt
and alter such rules and regulations for the
election of officers and the government of the
business of the bank as they may deem proper;
provided such bylaws, rules and regulations
shall not be in conflict with the provisions Of this
charter, the laws and constitution of MiSSSSSip-
pi, or Of the United States.
SECTION THE incOrpOrat0rS, or majority
OF them, may meet at such time and place as
they wish and organize under this charter.
d. @. CONEY ET AL.