The Tupelo journal., 1905-12-01
The Charter Of Incorporation Of the
Farmers Bank and Trust Co.

The Charter Of Incorporation Of the
Farmers Bank and Trust Co.
Section L: Be it known that Asa w
Allen, Written Duncan, Shelby Topp,
A. T.. Houston, T. J. German, @. Wood,
L @. Caruth, H. B. Heard, O K. Gary
Tom Stubs, e. D. Matthews, K. A
Patterson, v. H. Phillips, T. A Real
and their associates and successors are
hereby Incorporated under the name
and style of The Farmers Bank anc
Trust Company, and by that name
shall have succession for the period OF
fifty years, and by that name may sue
and be sued, plea and be implicated in
all courts of law and equity, and by
that name make contracts, have a sea-
and alter the same at pleasure, and by
that name may do and perform all the
acts and possess all the powers and
privileges of bodies polite and corporate.
Section q: The capital stock of said
Bank and Trust Company shall be
| SlOO, 900 90 divided into shares of $780,
90 each, but it may commence business
subscribed and $50, 000. 90 Of it's stock
/ Udlu Ill. lIlC uOllllCIC VI Sdlu COI HVl0-
ton shall be in Tupelo, Lee County,
Mississippi, but it may establisha Bank
at Baldwin in said county and state
and such other branch banks in the
State of Mississippi as the directors
may deem expedient
Section 3: The purposes for which
said Bank and Trust Company is in
corporated is to carry on a General
Banking business, and as such it may
carry on the business of receiving
money on deposit, and allow interest
thereon, and of buying and selling ex-
| change of every kind. money orders,
gold, silver and foreign coin, bonds of
| all kinds, warrants of all kinds, notes,
mortgages and other evidences of debt;
of loaning money on mortgages or trust
deeds upon real or personal property,
collateral and personal security at inter-
est not exceeding the legal rate; bor-
row money and discount it's notes or
evidence of debt and transact business
of every kind incident to modern banking.
Section a: In addition to it's business
as a banking corporation the said Bank
and Trust Company may receive money
in trust; accept and execute all such
trusts and perform such duties of every
description as may be committed to it
by any person or corporation, or that
may be committed or transferred to it
by order of any court of record; to take
and accept by grant, assignment,
transfer, devise, or bequest, and hold
any real or personal estate or trusts
created according to the laws OF this
State or other States or of the United
States; to act as agent for the invest
ment Of money of other persons; to act
az administrators or executor of the
estate of deceased persons; to act as
guardian for any minor or insane par
son under appointment Of any coucr OF
record having jurisdiction OF the per-
son or estate ofsuch person; guar ntee
the fidelity and performance of their
duty of persons holding places OF public
or private trust; to loan money on real
estate or collateral security. payable at
such times and upon such terms as may
be agreed upon not exceeding ten per
cent per annum, and do all other acts
and things authorized by Chapter 80 OF
the Acts of the Legislature of the State
of Mississippifor the year 1897, amend
mcnts thereto, OF that may hereafter
be authorized by the laws of the state
of Mississippi.
Section 5: The said Bank and Trust
Company may own real estate suitable
and convenient for its banking houses,
and may rent such parts of its buildings
as are not used by it, and may W such
otller real estate as it may acquire in
the enforcement and collection of debts
due it.
Section 6: The management of said
Bank and Trust Company shall be con-
fded to a board of directors, not less
than five Or such additional number as
the stockholders may authorize, all of
whom shallb be stockholders of the Bank.
The said directors shall make and adopt
such rules, bylaws, and regulations for
the government and management of the
Bank and the transaction of it's business,
as they shall deem best and most ex-
pedient for effecting the objects of the
corporation, provided they shall make
no rule or bylaw in conflict with the
laws of the United States or State of
Mississippi The officers, agents and EN-
ployees shall be elected or appointed by
the Boa ID of Directors. The directors
shall be elected annually by the stock
holders and shall hold office one year
and until their successors n elected
and qualified. The first meeting of the
subscribers to the capital stock of said
Bank shall be held in Tupelo, Miss, up
on the call of three OF the subscribers,
ten days notice to be given in some
,ews, ,aper published in said city or by
mai To each of the subscribers.
section z: In addition to tn, powers
and privileges herein enumerated, the
said Bank and Trust Company may ex.
ercise all other powers and tran :act all
other business co nnonly done by Banks
and Trust Companies in this state, not
inconsistent with the laws of this State
or OF the United State.
Commissioners Sale
Bank of Trpe.o Gurd.
vs.. mo. EZ3o