The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-29

intention to do SO; and during five day
after such notification. the association
through its Board of Directors, shal
have the right to buy said stock at sucl
bona fide price as may be offered for same
The association shall reissue said stool
before the expiration of thirty day
from its purchase. Stock transferred t,
third parties in disregard of this articl,
shall be considered sold to the associa
ton at its market price and the old Ger
tificate shall be cancelled, and new one.
issued to the association.
! ARTICLE VII.
| This corporation shall be managed by
IA Board of Directors composed of lively.
stockholders. The following persons
are hereby nominated for the first Board
Of Directors, to-wit:
DONELSON CAFFERY. WILLIAM
KRAMER, j. B. RODRIGUEZ.
WILSON T. PETERMAN. JOHN D..
BELL, J. B. BROWN, J.. SULLY
MARTEL, WILSON McKERALL, J.
w. FOSTER, ID. CAFFERY, JR.,
JOHN NJ. MIGEOT, r. EMMETT
O'NIELL.
Said Directors shall hold office until
the second Tuesday Of January, 1907.
The President of this Bank shall be
Wilson McKerall, and the Cashier shall
be X. Emmett ONiell, and they shall
hold office until their successors are
elected. Donelson Caffery Jr., shall ~;
the Trust Officer of this Corporation.
and his term of Office shall expire when
a new Board of Directors is elected, and
his successor shall be elected from among
the Board Of Directors on the new
Board. j. w. Foster shall be First
Vice President, and DonelsOn Gallery
shall be Second Vice President.
ARTlCCE VIII.
The Board of Directors shall be elect
I'd annually on the second Tuesday of
January. of each year. No person shall
be eligible to serve on the Board of Di-
rectors who owns less than ten shares of
the capital stock of this corporation.
All such elections shall be by ballot and
conducted at the Office of the associa-
ton, under the supervision of three
commissioners. to be appointed by the
Board of Directors. Notice of such |
election shall be given by publishing
same for not less than ten days prior to |
said election, in one or more newspa-
pers in the Town of Franklin Each
share of stock shall be entitled to one
vote. The stockholders may vote by
written proxy, and majority of the
votes cast shall elect. Any vacancies
on the Board of Directors
shall be filled by it for the remainder of
The term of the board. In case an cleo
ion is not held rs provided for herein.
he Directors then in Office shall hold
over until their successors are elected
md qualified, and in that case, an cleo
lon shall be held as coon as possible.
Ifter notice has been given as above pro-
'ided for. Five Directors, including
he President or acting President shall
constitute quorum for the transaction
+ business, at the office of the Bank.
The Directors shall elect from their num-
'er President, one or more Vice. Presi-
ents. and Cashier. They NAV from
inc to time appoint and employ such
Ulcers, assistant cashiers, clerks and +.
Their employees, as they may deem
ecessary for the purpose of the BUSH .
ess OF this corporation, and they shall
old office at the pleasure of the Board.
ARTICLE TX.
The Board of Directors may make and
alter or amend any and all
y-laws, rules and regulations necessary
VI the proper management of the busi- l
ess and affairs of this corporation. All
powers are hereby vested in \
re Board OF Directors, or in such Com
ittecs or officers rs may be appointed BIZ n
e Board with sub-delcgation of author
=. f
ARTICLE X.
The seal of this corporation shall be
A Pelican feeding her young encircled j
It'll the words The St. Mary Bank and
'ust Company. Incorporated August NJ
O6".
ARTICLE XII. A
Neither the President or Cashier of r,
is bank shall ever be permitted to Dor "
from it, either with or without col y,
eral security any amount exceeding !
per cent of the capital stock of the
nix, and all such loans must be first "A
'c'ioned by the Board Of Directors. =,
the absence Of the applicant for the w
IN.
ARTICLE y
y henevcr this corporation is dissoly- Jo
either by Limitation or for any other
Use, its affairs shall lie liquidated bv Nj
ee stockholders, to be appointed at
leral meeting, notice of which shall p
published for thirty days in news
'cr Or papers published in the Town MI
Franklin, and majority of the stock
ders voting at said meeting will be ]
'lired I" elect. In case of vacancy
'ng the Commissioners, the remain MI
Commissioners shall elect new one
N among the stockholders. Mr.
ARTICLE XIII.
his Charter may he modified. altered
the said Corporation dissolv- A
viii Ii the assent If tuo.fbirJ, <,e a.