The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-11-10

| shall sell his stock withont first giving
J written notice to the association Of his
! intention TO do SO: and during five DAYS
1 after such notification, the association
: through It's Board of Directors, shall
have the right to buy said stock at snch
bona iide price as may be offered for same.
The association shall reissue said stock
before the expiration of thirty days
: from It's purchase Stock transferred 10
third pariies in disregard of this article
shall be considered sold to the associa-
ton at its market price and the old Ger
tificate shall! be cancelled, and new ones
issued to the association.
ARTICLE VII.
This corporation shall be managed by
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,
WILSON r. 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 r. 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
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.
ARTICLE VIII.
The Board Of Directors shall be elect !
ed annually Oh 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 apltal 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 .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 by
written proxy. and a majority of the
votes cast shall elect. Any vacancies
occurring on the Board of Directors
shall he filled by it for the remainder of :
TIE term of the board In case an cleo
ton is not held as provided for herein.
the Directors then in Office shall hold | ,
over until their successors are elected |
and qualified, and in that case, an cleo +
tion shall be held as coon as possible,
after notice has been given as above pro-
rided for. Five Directors, including
he President or acting President shall ,
constitute quorum for the transaction 1
If business, at the Office of the Bank.
The Directors shall elect from their num- .
Ter President, one or more Vice. Presi-
Tents. and Cashier They may from =
ime to time appoint and employ such
Ulcers, assistant cashiers, clerks and
ther employees, as they may deem y
necessary 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 L.
stablish. alter or amend any and all :,
y-laws. rules and regulations necessary W
Or the proper management Of the bust !,
ess and affairs of this corporation. All NJ
powers are hereby vested in
le Board of Directors, or in such Com
ittecs or officers as may be appointed By
ne Board with sub delegation of author NJ
y.
ARTICLE \. Je
The seal of this corporation shall be =,
A Pelican feeding her young encircled NJ
it'll the words The St. Mary Bank and
rust Company. Incorporated August al
,O6''.
ARTICLE XI. "
Neither the President or Cashier of
is bank shall ever be permitted to Dor
W from it, either with or without col
teral security any amount exceeding
n per cent of the capital stock OF the ",
ank, and all such loans must be first
ncrioneG by the Board of Directors.
the absence Of the applicant for TIE
an. ~
ARTICLE XII. 90
Whenever this corporation is dissOlv- =,
either by limitation or for any other MI
use, its affairs shall he liquidated by
rec stockholders, to be appointed at IA
neral meeting, notice of which shall =,
published for thirty days in news hr
per or papers published in the Town
Franklin, and a majority Of the stock
lders voting at said meeting will be \,
luired to elect. In case of a vacancy VII
ong the Commissioners, the remain !,
Commissioners shall elect a new one "f'
N among the stockholders.
ARTICLE XIII. JOS
This Charter may he modified, altered !,
lmended, the said Corporation dissolv- a
with the assent Of twO-thirds Of the -
ckhoIders present, or represented by ohd
KY at a general meeting of the stock -,
iers called for that purpose, after "r>
ice thereof has been given in one or