The La Jara chronicle., 1906-08-03
STOCKHOLDERS NOTICE
Proposed Amendments to the
Constitution and Bylaws
of The La lara Building
and Loan Association.
Ii Inn O.


At the annual meeting of the stoCkhold.
crs OF The La Jarn Building and Loan
Association. to- bc held at the office of the
secretary. in La JHrn. Colorado. on Nondu,.
evening. August 9Th. y. ID. 1906, at o'clock.
the following amendments to the Consti-
tuition and BY Laws will be submitted io
the stockholders for their adoption.
The petition for the proposed amend
mcnts il a- follows tn-wit:
To the stockholders Of The La Jnra Build
ing and Loan Association:
We respectfully submit for your adop-
tion the following amendments to our
Constitution and BN Laws viz:
CONSTITUTION.
Section one OF article three. of the Con
stitutiun. amended to read as follows:
All persons twcnty-unc years of age may
become stockholders in this nssociatiou
aud he entitled tu all its privileges as here
matter provided:
Minors fourteen years of age or more may
hold not To- exceed five shares. in theirov, II
right hut they shall not have thr privilvlr
uf borrowing uuncA. uu their stock uutu
they become of age.
section three oi article five. of the Con
stituton,amcudcd to read ns follows;
The Treasurer OF this association shall
receive the sum of live dollars per month
duties with such further remuneration u-
the Board uf Directors may deem it best to
allow.
Section one OF article six. of the Con
stitution, amended to read as follows:
| Each stakeholder for each and every
shnrc Of stock held in this Corporation.
shall be entitled to receive loan ct not
more than one hundred dollars. such loans
to bc disposed of to the priority 10y right as
y ,t.. 1 III.
shall pay the interest in monthly Install
ncnts. and shall also pay ali recording fees
and all other necessary expenses Incl
dental to- eNCCtiug his or her loan.
] 1t is also proposed to omit the last sen
tencc uf section two. OF article g Of the Con
stitution.
Section three of article six. OF the Cuusti-
tuition. amended to read as follows;
/ Any stakeholder of legal age may borrow
an amount of money not to ocNCecd the cash
value of his stock upon the surrender OF
the same. without further security. subject
t" the rules governing other loans.
I 1t j. also proposed to omit all Of section
two uf article seven. OF the Constitution.
HN LAWS.
Section three OF article one, of the BY
Laws. amended to read ~ follows:
The annual meeting uf the Board OF
Directors OF this Association shall be held
. ON the last business day Of July OF Zach
year, for the purpose of rccci" wing tho re
ports of the annual auditing and annual
apportionucnt committees. and for the
purpose of attending to any and all mat
tiers relating to the closing up of the years
business
1t is also proposed to omit the last sen
tcnCc OF section one of article three. OF the
. BY Laws.
Z Section two of article three, uf the BY
Laws, amended to read as follows:
All new stock subscribed for after the
beginning OF the fiscal year must paw all
dues uf whatsoever description buul, to the
bcginuing Of the said fiscal year. including
fine OF five cents share for the first
month. ten cents share for the second
month, fifteen cents "a share for the third
month. and so on.
Section three of article three. of the BY
Laws amended to read ns follows:
The fiscal year shall begin on the first
day "f August and end on the thirty first
day Of July of the calender year following.
Section seven Of article four. of the BY
Laws amended tn read ns follows:
The Secretary shall call a special stock
holders meeting to he held at the time of
the meeting OF the Board of Directors on
the first Monday of July in each year for
the purpose Of nominating candidates for
Directors to be voted Tor at the annual
stockholders meeting held uu the first
l Monday in August of each year
1t is also proposed to omit all of section
two of article seven Of the by Laws.
Section three OF article seven. uf the BY
Laws, amended to read us follows;
Section =.
\ The Secretary for non-nttcndanCc tipon
the meetings of the Board of Directors or
/ stockholders. shall be fined one dollar and
for ncgleCting or refusing to render u state
ment OF the operations of the Corporation
as required by article four. of the BY Laws
shall be fined five dollars at the uption of
the Board Of Directors.
1t is also proposed to omit all Of section
three OF article ten. of the BY Laws:
Section one of article eleven. OF th,. By
Laws, amended To read us follows:
At the regular 1nccting in July tor an
adjourned meeting thereof the Board of
Directors shall appoint three auditors. to
he selected from the stockholders not
officers of the Corporation. whose duty it
shall be to audit the books of the Secretary
and Treasurer as soon ns the business of
the fiscal year ending July 3lst can be
closed mp.
Said auditing committee must submit