The La Jara chronicle., 1906-07-27
STOCKHOLDERS NOTICE
Proposed Amendments to the
Constitution and Bylaws
of The La Jara Building
and Loan Association.
ID Inrn. Colnrndn. Jmly 2. m


At the annual meeting Of the stockhold-
rrs nf The La Jnrn Building and Loan
Association. TO be held at the Office of the
sccrctury in La JariL Colorado. On Monday
evening. August 9Th, y. u. 1905. at o'clock.
the following amendments to tile Consti-
tuition and BS Laws Will he submitted to
the Stockholders for their adoption.
The petition for the proposed amend
ments is as follows, to-Nit:
: To the stockholders Of The La Jarn Build
ing and Loan Association;
We respectfully submit for YOUR adop-
tion the following amendments to our
Constitution and BY Laws. viz:
CONSTITUTION.
section one OF nrticle three OF the Con
-titu,iou amended to read as follows:
f All persons twenty one years Of age may
become Stockholders in this association
and be entitled to- all its privileges as here
matter provided:
Minors fourteen wears Of age or more may
hold not tn exceed tive shares. in thcirown
right, hut the, shall NOT have the privilege
of hnrrIwiuu money. uu their stock until
they become ut uue.
Section three uf article five. Of the Con
-titutinu.nm-udrd to- read us follows:
The Treasurer of this association shall
receive thy sum of FIVE dollars per month
duties. with such further remuneration as
the Board of Directors may deem it best to
allow.
Section one Of article six. OF the Con
stiuutiun, amended to read as follows;
Z Each stakeholder for each and every
share of stock held in this Corporation
shall he entitled to receive II loan of not
more than one hundred dollars. such loans
1 to he disposed pf to the priority by right ns
4
shall pay the interest in monthly install
mcuts, and shall also pa, all recording fees
and all other necessary expenses incl
dental to exccting his or her loan.
l It Is also proposed to omit the last sen
tCnCc pf section two. of article q OF the Con
stitution.
Section three of article six. Of the Consti-
tuition, amended to read nS follows;
Any stakeholder of legal age may borrow
an amount uf money not tocScccd the cash
value Of his stock. upon the surrender OF
the same. without further security. subject
to the rules governing other loans.
II il also proposed to- omit ali OF section
two Of article seven, Of the Constitution.
HY LAWS.
Section three OF article one. OF the BY
Laws. amended To read as follows:
The annual meeting of the Board of
Directors Of this Association shall be held
on the last business day ii July III each
year. for the purpose Of receiving the re-
ports of tile annual auditing and annual
apportioument committees, and for the
purpose of attending to.any and all mat
r,rs 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.
section two OF article three. Of the BY
Laws. amended to read follows:
All new stock subscribed for after the
beginning of the fiscal year must pay all
dues Of whatsoever description back to the
beginning Of the said fiscal year. including
a fine of five cents "A share for the first
month ten cents share for the second
month fifteen cents a share for the third
month and 50 ON.
Section three OF article three, of the BY
Laws, amended tu read as follows:
The fiscal year shall begin ON the first
day of 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 to read as follows:
The Secretary shall call special stock
holders meeting to be held nt 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 for AT the uununl
Stockholders meeting held thc first
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. of the b.,
Laws, amended to read as follows:
Section .,
The Secretary for uon-httendauCc upon
the meetings OF the Board OF Directors or
stockholders, shall he fined one dollar, and
for negiecting or refusing to render n state
. ncnt OF the operations OF the Corporation
as required by article four. of the BY Laws
shall bc fined five dollars at the option ot
the Board OF Directors.
1t is also proposed to omit all of section
three OF article ten. of the BY Luws:
Section one of article eleven. OF the by
Laws. amended to read as follows:
AT the regular meeting i'm July Tor an
adjourned meeting thereof the Board ui
Directors shall appoint three auditors, Ia
be selected from the stockholders. not
officers of the Corporation. whose duty il
shall he to audit the books of the Secretary
and Treasurer as soon the business oi
the fiscal year ending July 3ist bt
closed up.
Said auditing committee must submit