The Brandon news. (Brandon, Miss.) 1892-1961, 1905-10-19
THE CHARTER OF INCORPORA
TON OF RANKIN COUNTY
RANK

Section /. Be it known that H. A.
Busick, 9. w. White, S. S. Carter, w.
B. Collier, VIM. Buchanan, j. r.. 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 domicie shall be
In town of Brandon, County of Rankin,
State of Mississippi, and shall 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
a 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
muntleS 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. 3. 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
authorizedto begin and carry on its bust
ness when the fifteen thousand dollars
shall have been subscribed and actually
paid in cash for said stock.
Sec. a. 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
curlties, and may pay interest on deposits
and fix terms upon which any and all de-
posts may be received and withdrawn.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
| fled. 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