The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-22
AMENDED CHARTER OF
st. MARY BUILDING ASSOCIATION
Continued From First Page.
been recorded in their minutes.
ARTICLE XIII

ARTICLE XIII
Any stakeholder, who has received an
advance upon bis shares, desiring to set
tie and liquidate such indebtedness prior
to the maturity of his stock upon which
said advance have been made, may do So
either in part or in whole and if desired
the pledged shares may be surrendered
to the Association, and cancelled under
the conditions provided for Withdrawing
unpledged shares.
Any part payment under this article
shall be credited the borrowers note in
the sum Of the par value of each share
redeemed from pledge, and thereafter
interest shall be paid only upon the re-
mainder Of said note, and if desired the
vendors lien and privilege existing
against said property shall be reduced
Proportionately.
ARTICLE XIV.
No stakeholder shall ever be held liza
bic or responsible for the faults, con-
tract or Indebtedness Of this corporation
IN any further sum than the amount of
his Indebtedness to the corporation, nor
shal, any mere informally in the vrgani-
cation have the effect of rendering this
act null or exposing a stakeholder to any
liability beyond the amount of his in
debtedness to the corporation.
ARTICLE XIV.
Special meetings Of the stockholders
shall be convened by the President at
the request in writing Of ten stockhold-
ers, stating the time and object of such
meeting.
At all meetings of the stockholders held
after due notice of the same has been
given those present and represented
small constitute quorum.
ARTICLE XVI.
This act Of incorporation can be alter
ed. amended, or modified by vote of
three fourths of the shares present or
represented at an annual meeting or II
special meeting Of the stock holders con-
veDed for that purpose, or the corpora
ton can be dissolved by the vote of two
thirds of the capital subscribed repre-
scented at an annual meeting or a special
meeting convened for that purpose: all |
after ten days notice of the time and object |
thereof have been given by mail to each |
stakeholder, provided that the capital |
OF the Association shall not be increased |
unless the majority Of all the shares in |
force shall vote in favor Of such an |
increase.
ARTICLE XVII.
in the event Of the dissolution of this
corporation by Limitation or otherwise,
three stockholders shall be elected bv
the stockholders at special meeting
called for that purpose. who shall act as
a board OF liquidatOrs. and full power
and authority is hereby vested in
said Board to speedily wind up an
liquidate the affairs of the said corpora
ton. and for such purpose to sell all the
property and assets thereof, and TO col
lect and receipt for all notes and ac-
counts due, and to institute such suit as
necessary 10 enforce the same; and u
pay all the Indebtedness due BY the AS
ISOLATION. if any, and to distribute the
proceeds remaining amongst the stock
holders in proportion to the amount Of
heir holdings; provided that what
ever amount remains to the credit IF the 1
Permanent Surplus after the affairs of
he Association have been settled and be-
lore the proceeding to the distribution Of
Inc proceeds; shall be distributed only
amongst the holders of Permanent Stock
10 proportion to the amount of their
holdings. /.
In the event of any vacancy BY death,
resignation or otherwise, occurring in
lh- Board Of Liquidators, the same Shall
be filled by the remaining members of
The Board from the stockholders. Ii
The charter of the ASSOCIATE ton as thus
amended was adopted by the stockhold- i
DIS Of the Association vote, at y special
meeting called for that purpose of date i
August 4th, 1905, after ten days t
notice of the same had been given by Il
;ho unanimous vote of all the stock there
present and represented, to.wit:
kohl call of the votes adopting same
vas tO-wit: .
Wilbur H Kramer Miss Lizzie Muggah 4 | n
hrs Florence Lewis 10 David Wolf
Hrs Amelia Bellessien 10 Mrs g Trimble I'll
has pecOt JOS Sterling IP
Hiss Florence X Lewis 2 Sarah Osborne Il =,
iarcOurt N Levy Jno X Patterson
1win Fo!se Essis Hausmann 81
Cdwin FOse Jos Stirling
amuel We'll Edwin Kramer 81
OMis Levy 5 Chas Harris Lis
. & Allen Is Michel Glynn 10 -,
q Lyman Dumas NarbOnne ! g.
Bedell A 5 Kleinpeter 81
POpkin ) Mrs N b Treliue ir
w Kappel ) Ora May Sanders ~
II AddingtOn ~ Alberta Marshall =
Michel + Stansbury Or l Ia
H. D.,1.