The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-27

| 'zed agent. and shall be considered as
! Incorporated herein. No subscriber
shall sell his stock without first giving
written notice to the association of his
nten'iOn to do SO; and during five days
| 'fler such notification, the association,
| 'hrnngh it's Board of Directors, shall
fa,e the right to buy said stock at such
iona fide price as may be offered for same.
he association shall REISSUE said stock
cfcrr the expiration Of thirty days
rom its purchase. Stock transferred t.
third parties in disregard of this article
shall be considered sold to the associa-
ton at lis market price and the old Ger.
tlficate shall be cancelled, aud new ones
issued to the association.
ARTICLE VII.
| This corporation shall be managed by
4 Board Of Directors composed of twelve
stockholders. The following persons
are hereby nominated for the first Board
Of Directors, to-wit:
DONELsON cAFFERY. WILLIAM
KRAMER, j: B. RODRIGUEZ,
BELL, J. B. BROWN, ]. SULLY
MARTEL, WILSON McKERALL, J.
W. FOSTER, u. 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,
he K. Emmett ONielI, and they shall
nold Office until their successors are
elected. DonclsOn Caffery Jr., shall bt
hn of
and his term of office shall expire when
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 Caffery
shall be Second Vice President.
ARTICLE VIII.
The Board of Directors shall be elect
ID 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 he by ballot and
conducted at the Office Of the associa-
ton, under the supervision of three
commissioners. to he appointed by the
Board of Directors. Notice of such
election shall be given by publishing
same for not ess 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 b,
proxy, and a majority Of the
votes cast shall elect. Any vacancies
on the Board of Directors
shall lie filled by it for the remainder of |
he term Of the board. In case an cleo |
ion is not held as provided for herein.
The Directors then in Office shall hold |
over until their successors are elected
md qualified, and in that case, an cleo
ion shall be held as coon as possible,
lfrrr notice has been given as above pro-
'ihcd for. Five Directors, including
he President or acting President shall
constitute a quorum for the transaction
# business, at the Office of the Bank.
The Directors shall elect from their num-
yer President. one or more Vice. Prasi-
ents. and q Cashier. They may from
ime to time appoint and employ such
Ulcers, assistant cashiers, clerks and |
ther employees, as they may deem
ecessary for the purpose Of the bust
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 \
Or the proper management Of the bust
ess and affairs of this corporation. All \
Drporate powers are hereby vested in
le Board of Directors, or in such Com a
ttees or officers rs may be appointed by
le Board with sub-delcgation Of author n
y. l.
ARTICLE x. II
The seal of this corporation shall be =,
A Pelican feeding her young encircled
it'll the words The St. Mary Bank and |
rust Company. Incorporated August a
O6'. -
ARTICLE XII.
Neither the President or Cashier of n
il bank shall ever be permitted to Dor
W from it, either with or without COL A
teral security any amount exceeding
n per cent. of the capital stock of the v
INK, and all such loans must be first
nctioned by the Board Of Directors, q
the absence Of the applicant for the
~. IT,
ARTICLE XII, -
Whenever this corporation is dissolv- n
, either by limitation or for any other
use, its affairs shall lie liquidated by p
rec stockholders, to be appointed at =
neral meeting, notice Of which shall M
published for thirty days in a news
per or papers published in the Town T
and a majority of the stock.
ldsrs voting at said meeting will be NJ
Iuired to elect. In case of vacancy
ong the Commissioners, the remain NJ,
Commissioners shall elect new one
N among the stockholders. In
ARTICLE XIII.
his Charter may be modified, altered A
'mended, the said Corporation dissolv-
with the assent of twO-thirds Of the n