The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-22

intention to do 50; and during five day
after such notification. the association
through it's Board of Directors, shall
have the right to buy said stock at sucl
bona fide price as may be offered for same
The association shall reissue said stocl
before the expiration of thirty day.
from its purchase. Stock transferred tt
third parties in disregard of this article
shall be considered sold to the associa
ton at its market price and the old Ger
tificate shall he cancelled, aud new ones
issued to the association.
ARTICLE VII.
This corporation shall be managed by
Board Of Directors composed of twelv.
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 u.
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 K. Emmett O'Niell, and they shall
hold office until their successors are
elected. DonelsOn Caffery Jr., shall be
the Trust Officer of this CORPORATION,
and his term of Office shall expire when
Il 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.
ARTICCE VIII.
The Board of Directors shall be elect
ed annually on the second Tuesday of
January. of each year. No person shall
be- eligible to serve on the Board of Di-
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 he appointed by tn.
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 ncwspa-
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
tie term of the board. In case an cleo
ion is not held as provided for herein.
he Directors then in Office shall hold
,ver until their successors are elected
md qualified, and in that case. an cleo
ion shall be held as coon as possible.
'fter notice has been given as above pro-
'ided for. Five Directors, including |
be 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. Pres-
Tents. and Cashier. They may from
ime to time appoint and employ such
Ulcers, assistant cashiers, clerks and
'ther employees, as they may deem
necessary 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
Or the proper management of the BUSH
ess and affairs of this corporation. All
powers are hereby vested in
ne Board of Directors, or in such Com
'ittees or officers rs may be appointed by
ne Board with sub.delcgatiOn of author
y.
ARTICLE X.
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
)O6''.
ARTICLE XII.
Neither the President or Cashier IF ,
il bank shall ever be permitted to bor-
W from it, either with or without col.
teral security any amount exceeding
n per cent of tho capital stock of the
INK, and all snch loans must be first
nctiOned by the Board of Directors.
the absence of the applicant for the
an.
ARTICLE
this corporation is dissoly-
, either by Limitation or for any other
use, its affairs shall tie liquidated bv
rec stockholders, to be appointed ut
neral meeting, notice of which shall F
published for thirty days in news
per or papers published in the Town n
Franklin, and majority of the stock.
ld.rs voting ut said meeting will be .
Iu'red I" elect. In case of vacancy
Ong the Commissioners, the remain N
Commissioners shall elect new one
III among the stockholders. N
ARTICLE XIII.
his Charte may he modified, altered
amended, the said Corporation dissolv- A
with the assent of twO-thirds of the