The commonwealth. (Greenwood, Miss.) 1896-1923, 1906-07-06
Charter of Incorporation of Progress
Bank.

Article |. Know all men that n. L.
LacEoy, Ii. j. %sranback, D. D. Butcher. i.
l. strong, W. }. Davis, l.. X. Atwood, f..
A. GRAY, s. s.. Bradley, b. r. Williamson,
Il. G. Washington and their associates,
successors and assigns, be and they are
hereby created and constituted a body
politic under the name and style Of
Progress Bank and AS such shall live and
have succession for the full term and
period OF iifty years, unleaa sooner dis.
solved by the stockholders thereof; and
IT shall not be 80 dissolved by them SO
long as Eve Of their number shall desire
to continue its operation. andshall com
ply with the terms of this charter of ID
corporation.
Article ,. The domiciIe Of the COR
poratiOn shall be Greenwood, Lefiorc
County, State of MississiDDt. It's capi-
tai stock shall be Thirty Thousand Dot
lars, divided into two thousand five hun
dred shares of Ten Dollars, par value
each. But said corporation may begin
business when Two Thousand Dollars of
its capital stock shall have boon paid in.
Article 3. The Objects and purposes
for which this corporation is created
are and 1t is hereby authorized and en-
powered, to do and carry on a general
banking business, and to do and perform
any and all things pertaining TO a say
ings bank.
Article 4. The corporation is hereby
permitted, empowered and authorized 10
exercise all the rights and powers, and
ENJOY all the privileges and immunitie e.
bestowed upon corporations by the laws
OF the State of Mississippi, and 10 do
ana perform all things necessary and
proper to carry into eject the purposes
for which tGts corporation is hereby
created not Inconsistent with the laws
OF the State Of Mississippi.
Article s.. This corporation is hereby
permitted, authorized and empowered to
make such rules and by-lawa, not incon-
sistent with the laws Of the State of
Mississippi, az ID may desire for it's man
agement, and such rules and bylaws be-
ing properly enacted and spread upon
the minutes OF the corporation, shall be
as binding upon the stockholders and
those doing business with it, as if they
we're written in this charter.
Article u. This corporation il auth
orlHed TO have and keep a common seal,
which it may break or alter at will.
Article 7. The officers Of this cOrpor-
alton shall be a board of directors con
slsting Of not more than eleven persons,
a president, vice president, cashier, and
such other employees and officers as may
be provided for 10 it's bylaws.
Article 4 No s]tockholdcr shall be
liable for the debts Of the corporation
beyond the amount Of his unpaid stock
subscription. Paid up stock shall not
be assessah'e by the corporation, but
the corporation shalt have a lien on paid
up stock for the stockhDIders' 0bliga-
tons 10 the corporation, Stock shall be
transferred only on the books Of the
corporation, by the shareholder in per-
son or by his attorney In fact, provided
no stakeholder shall self or transfer his
stock, without for the price OF selling or
~disposing, first Offering it to the corpor-
alton and giving it a chance to purchase
the same.
Article 8. The corporators herein
named, are hereby authorized to open
books for the subscription OF stock, and
when this charter shall have been APP
proved by the Governor, the l]ncOrpOra-
tors, or any two Of their number may
upon two days notice to the others in
writing, call a meeting Of the stockhoId-
ers together, naming the time and place
OF meeting, and organize under this
charter,