The Brandon news. (Brandon, Miss.) 1892-1961, 1905-09-28
THE CHARTER OF lINCORPORA-
TON OF RANKIN COUNTY
RANK

Section I. Be it known that H. A.
Busick, G. w. White, S. S. Carter. w.
B. Collier, VIM. Buchanan, j. T. B.
Berry, P. P. Walker and M. E. Ward,
their associates, assigns and successors,
are hereby created body corporate and
polite under the name and style of Gram
kin County Bank" its domicile shall be
| in town of Brandon, County of Rankin,
State of Mississippi, and shalt have sue
cession for period of fifty years.
Sec. 2. Said corporation may sue and
be sued, plead and be implicated, prose-
cute and be prosecuted to judgment and
satisfaction before any court. May have
corporate seal; may contract and be
contracted with within the limit of its
| corporate powers; may buy and hold real
| and personal property, not to exceed in
value the amount limited by law; may buy
and hold real and personal property in
satisfaction of debts due to it; may sell,
convey, dispose of, mortgage or otherwise
cucumber its property, real, personal or
| mixed; may make all necessary bylaws,
| not contrary to law, and may have and
enjoy all the rights, privileges and i'm
| munltleS accorded to corporations by
Chapter IS of the Annotated Code of
| 1892, of Mississippi, and the amendments
| thereto as fully and completely as if the
same were more specifically set out herein
| Sec. 8. The capital stock of said cor
| poration shall be fifteen thousand dollars,
divided into fifteen hundred shares of the
denomination of one hundred dollars each.
Said corporation shall be and is hereby
authorized to begin and carry on its busi-
ness when the fifteen thousand dollars
shall have been subscribed and actually
paid in cash for said stock.
| Sec. q. The purposes for which said
corporation is created are: 1t is hereby
authorized and empowered to do a general
banking business, in all its branches, in
Guiding the savings bank feature, the re-
ceiving of deposits, borrowing and lending
money, taking security on real estate and
personal property and other securities;
| buying and selling exchange, bills, notes,
bonds, chooses in actions, and other Sc
curities, and may pay interest on deposits
and fix terms upon which any and all de-
poSitS may be received and withdrawn,
and may do and perform all acts incident
to general banking business in all its
branches.
Sec. 5. The stockholders of said cor
poration shall, at their first meeting after
the approval of this charter, and annually
| thereafter at set time to be fixed by the
| bylaws of said corporation, elect board
of directors consisting of not less than five,
nor more than nine members, who shall
| hold their office for twelve months, and
until their successors are elected and quail
| fed. Said board of directors shall have
control of the business of said corporation
and may make all necessary bylaws for
governing its business; the officers of said
corporation shall be president, vice preSi-
dent and cashier, and such other officers
as the board of directors may from time to
time establish and elect.
| Sec.6. No stakeholder and no subscrib-
er to the capital stock of said corporation
shall be liable for the debts or liabilities of
said corporation beyond the amount of
| the balance that may remain due or un-
paid for its stock subscribed for by him,
and his liabilities to the amount of such
balance shall only apply and extend to the
| debts of said corporation, contracted dur
! ing his ownership of said stock, and shall
not continue longer than one year, after
sale or transfer of his stock by his en-
dorsement and delivery of the stock GER
tifcate, and the registery of such transfer
| in the books of said corporation.
Sec. ?. No stakeholder shall sell or
lotherWise dispose of his stock without
I first rendering it to the stockholders of
said corporation through its proper officer
/ at a regular stakeholder S meeting, and all
/ transfers must be approved by board of
directors.
! Sec. 8. The first meeting of persons in
Interest NAV be held on three days verbal
or written notice of the time and place OF
holding same given by any two or more
persons named in this charter.
Sec. o. Said charter shall be in effect
from ana after its approval by the Gov
ernor Of the state Of Mississippi.