The St. Mary banner., 1906-10-06
Act Of Incorporation
ST. NARY BUILDING ASSOCIATION
OF PATTERSON. ST. NARY PARISH.
LOUISIANA.
(AMENDED.)

Il AT the annual meeting of the stock
holders of the ST. Mary Building As
soclation of Patterson, ST. AIRY Parish
La,. convened on the lth dav of Aug
ust, 1906. (ten days notice of said meet
ing having been given by mail by tn
President to all the stock hocers) tn
Charter rs originally adopted BY th
Association aDd as amended on the 1871
day OF January, 1898, and on the 20tl
day of January. 1903. was altered. mod
flied and amended to read as follows. TO-
wit:
ARTICLE |.
The name and title Of said corporation
shall be and is THE ST. MARY
BUILDING ASSOCIATION, and under
| its corporate name it shall have power
to contract, sue and be sued: to make
and use a corporate seal and the same to
| break and alter at pleasure: to hold. re-
| celve. lease, purchase. convey, mort
gage and hypothecate under it's corporate
name property both real and personal: ::
to lend and borrow money Oh security:
to name and appoint such officers and
agents as the interest and convenience Of
SAID corporation may require: to make
and establish such by laws, rules and reg
liiatlOns ter the proper management and
regulation Of the affairs of said corpora
ton as may be necessary and proper and
the same to change and alter at pleasure:
and to do all such acts and things as are
or may be proper and necessary to carry
out the objects of said corporation.
ARTICLE II.
The domicile of said corporation shall
he in the Town of Patterson. Parish of
st. Mary. State of Ionisia ana, and all
citations or other legal process shall be
served upon the President of said corpo-
ration, or in his absence upon the Vice
President. or in the absence of both
of these officers upon the Secretary.
ARTICLE Ill.
The object of this corporation shall be:
1st. To provide a convenient. safe |
and profitable method of investing the |
of its stockholders.
2nd 10 furnish them with the oppor-
tunity of borrowing money on real estate
To carry out these objects
the corporation shall accumulate fund
from payments OH subscriptions to the
capital stock. the payments of interest on
oans. and from money received from other
awful sources: the funds 50 accumulated
o be used for the purchasing, building,
and repairing of real estate
Ind homesteads for its members. and re-
moving membranes therefrom, and
or the loaning of money to its men,
,ers: and for the purchase of stocks and
'Onds.
The corporation is hereby prohibited
rom lending money to any but its own
tockholders and from accepting as Sc
urity for such loans. property situated
utside Of the Parish of st. Mary.
ARTICLE w. {
The corporate powers of the corpora :
ion shall be exercised by Beard of |
welve Directors, each of whom shall I
wn not less than five shares, who shall
e elected by the stockholders present
+ represented at the meeting to be held
nnually on the third Tuesday in Janu- $
~.
Each stockholder. present or repre- !.
,nted at said election and not in default,
lal be entitled to one vote for each
.arc possessed by him or her. =
At least ten days notice of said cleo -
on shall be given by the Secretary
rough the mail Said election shall
; by ballot and shall be held at the
,micile of this corporation under the II
pervision of three stockholders ap- p
,inted by the Board OF Directors, at =
e preceding regular meeting. II
The twelve stockholders receiving the
ghest number Of votes cast shall be. :,
clared elected. -
The failure to hold an election on the IS
" specified shall not dissolve the cor =
-, Il,
Id over until AN eleciou be held after ~ ~
n drys notice shall have been given by y
all of the time and place thereof. ~ ~
The directors shall elect from their Vi
mber a President and Vice-President
ve Directors shall be a quorum for the ~,
lnsaction of business The Directors IN IN
all elect a Secretary. Treasurer, and IN t11
ch other Off GERS and employees as may ':
necessary: and they shall have power w
enact bylaws not repugnant to this pa
arter to select their time Of meetings. '"
suspend any officer or director for
.lccr of duty or misconduct, and to " "
me and appoint their successors as ~
>vided In the bylaws, and shall have
neral authority to carry out the objects .n .'
!! business Of the corporation. 49,, a..
ARTICLE V. m. M
The capital stock of this corporation pc
Ill be ONE MILLION DOLLARS. ed
stock in force of date August 4th, be
6, shall be recognized under the form Ste
which it has been issued, but from
after said date, all additional shares sh;
stock issued shall be under one of the of
I lans, hereinafter fully described on
designated. to-wit: Permanent Di:
elk. Full Paid Stock, lnstalmeut mi
OK, and Dayton Stock. in such the