The Starkville news. (Starkville, Miss.) 1902-1960, 1905-11-17
CHARTER
OF
INCORPORATION
OF
THB MERCHANTS And
PLANTERS BANK
AT
STURGIS, MISSISSIPPI.

- l. ~ lL\ AxAASSA0SA4 I L
SECTION /. Be 1t known that, H. o. Nc
Main, CitronelI, Ala, G. E. Galceran,
T. s. Jackson, A. F.Richardson,. G. G.
Morgan, SturgIs. Miss, and their assoc
istes, assigns and successors are hereby
Incorporated and made body polite
under the name and style of THE
MERCHANTS AND PLANT
ERS BANK and by that name may
sue aud be sued, plead ana Oe implead-
ed In all the courts of law and equity
In this state, and may have common
seal and alter same at pleasure. The
domicile OF this corporation shall be In
the town o. Sturgis, Oktibbcha county,
state OF Mississippi, and it shall have
succession for period OF fifty (5O)
tive approval Of this character.
SECTION 2. The Capital Stock of this
Corporation shall be the sum OF Twenty
five Thousand Dollars (s25, ,OOO) to be
divided into shares Of value of Fifty
Dollars $4,000 each; said corporation is
under this charter authorized to begin
business whenever the sum of Fifteen
Thousand Dollars u5,0oO) have been
subscribed, and the sum of Seven Thou
sand Five Hundred Dollars (S7,5OO)
shall have been paid in cash and this
charter duly and authoratatively ap-
proved. No share holder shall be held
liable for any amount over and above
the gross amount of the face value of
the shares of stock by him held, for the
debts and liabilities of this corporation,
and this corporation shall have lien
on the stock OF the shareholder for any
debt due the corporation including any
balance left unpaid of the amount Of
stock subscribed by him made. The
shares of the Capital Strck Of this cor
pora,ion shall be transferable only up
on the books of the corporation.
SECTION 3. The objects and purpos-
es Of this corporation are, and is hereby
and hereunder empowered to transact
the business of receiving deposits of
monies, discounting notes and securi-
ties and doing and performing all man
ner Cf acts pertaining to the general
banking business consistent with the
laws of the Stale of Mississippi, on
by the annotated code OF
u WIZ
1sos) and the acts amrndatory there
to.
SECTION 4. The officers of the cor
poration shall be u president. vice-pre-
ident, cashier and board OF directors.
The board of directors shall consist of
not less than seven (7) persons and
shall be elected by the share holder at
the regular annual stockholders meet
ings which shall be held on the 18th day
of January each consecutive year, ex-
cept when such day shall DC legal
holiday, in which event said meeting
shall be held Oh the next succeeding
dav. All vacancies in the board of di-
rectors caused by death shall be filled
for the remainder Of its unexpired term
by two-third's majority vote of the
remaining Directors, each director shall
exercise the functions Of his position
until his successor has been duly elect
ed and qualified. The President, Vice.
president shall be elected by and from
the Board of Directors. The Cashier
she'll be elected by the Board of Direc-
tors which shall determine their res
pective compensation, duties and term
of Office.
SECTION 5. Said corporation shall
have the power to adopt all reasonable
and necessary bylaws. rules and regn-
lations for the management and con-
duct OF the business of said corporation
not inconsistent with the laws OF the
State of Mississippi and OF the laws of
the United States of America.
Tf our Business League was