The Columbus weekly dispatch. (Columbus, Miss.) 1902-1905, 1905-06-15
Charter OF Incorporation Of the BuiId-
ings and Savings Association. OF
Columbus. Lowndes County,
MiSsiSsiDpi.
Mississippi.

Mississippi.
Section /. Be It remembered that
c. f. Sherrod. ID. T.. Davis, T. III.
Sykes. Joseph Donoghue. John A.
Stinson. e. C. Chapman. Newman
Cayee, Battle Bell, E. G. Grace, F.
w. Maer, John ID. Odeneal. Walter
+ Weaver, w. n. Pickett. John Nc
Ginnis, w. G. Mcclure, J. 5. Rob-
ertsOn, John II. Mayo. ID. $. Nc
Clanahan and such other persons as
may hereafter become associated with
them, are hereby created a body cor
porate under the name and style of
The Buildings and Savings Associa-
ton of Columbus, Mississippi, and
by that name may sue and be sued,
plead ana be implicated in any court
of law or equity in this State: may
have common seal and do and per-
form all acts and privileges of bodies
| corporate so far as the exercise there
of may be authorized by Chapter p
| of the Annotated Code of 1892 of
Mississippi and the amendments
thereto and not inconsistent with the
constitution and laws of the State,
and to have the right to exercise such
acts and privileges for the term of
fifty 800 years from the date of the
organization of said Association.
Section ?. The purposes for which
this Association is created are the ac-
emulation of fund by the issuance
of certificates of stock to be paid for
| in installments, interest on loans and
fines as may be provided for by the
bylaws; said fund TO be loaned at
interest and upon real estate to mem
bers of the Association Except as
may be provided for in the bylaws
of the Association to enable them to
purchase real estate, Improve the
same and to remove encumbrances
therefrom, or to erect buildings for
dwellings or for business or manu-
featuring purposes.
Section 3. The stock of this Asso-
citation shall not exceed five hundred
shares of one hundred dollars each
in any one serial. Stock certificates
shall in all cases be- signed by the
President and Secretary, with the
corporate seal attached, and they
shall be numbered and recorded by
the Secretary in the book to be known
as the Stock Ledger.
Section 4. After $50 shares of stock
have been subscribed in this Associa-
ton, the subscribers may meet on
written call of any three incorpor-
ators, stating the time and place of
meeting. mailed three days before the
date of meeting, and proceed to or
ganize and TO elect Directors.
Section 5. Every person on be-
coming member of this Association
shall subscribe to and agree to abide
by its constitution and bylaws.
Section 8. All payments on stock
shall be atthe rate of one dollar per
month in advance on each share of
stock, payable at such time as may
be fixed by the bylaws of this Asso-
citation and such interest, fines. and
forfeitures as may be provided by
said bylaws. All meetings shall be
held as provided by bylaws
Section 7. All claims for dues, in
terest, fines and penalties shall be
lien upon the stock of delinquent
members or assignees and whenever
such claims shall amount to sam
equal to the amount of dues actually
paid, the stock shall be sold in the
manner prescribed by the bylaws.
Section 8. Said Association may
make and adopt such bylaws and
regulations as they may deem neces-
J sary for the government of the bust
ness: may provide for the election of
their officers and members: the sub
scriptions of stock to the Association;
the purchase and sale of their own
stock and property and the manner
in which they may advance and loan
money; the terms by which they shall
make said loans and all other regu-
lations for the government and man
agement of the business affairs of
said Association: may acquire and
hold real and personal property by
purchase or otherwise and may sell or
dispose of the same.
Section 3. If at any time there
should be a surplus fund on hand not
desired by any member, the Board of
Directors may invest the same for the
Association in the purchase of real
estate and the erection of buildings in
the name of and as the property of
the Association, but purchases shall
not be made nor money disposed of
under this section save by a three
fourth vote of all the Directors.
Section 10. Whenever the assets of
any serial of this Association
shall reach the par value of
then its affairs shall be placed in
liquidation and each and every mem
Der receive the full value Of all shares
in that series held by her or him,
either in cash or their own securities,
and all liens of record shall be salts
fed. provided that no stockholder
shall have his or her securities re-
leased or collaterals returned or
record liens cancelled until he or she
has fully paid all dues. fines, inter-
est and other charges due the Asso-
citation.
Section IL. This Charter shall not
be amended except at an annual meet
ing OF stockholders or at a special
meeting called for that purpose and
after five days notice of such meeting
and such proposed amendments
mailed to each stockbolder, and then
only by a two-third affirmative vote
of all stock represented at said
meeting.