The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-10-20
the second Tuesday Of January. 1907.

be r. Emmett ONiell, and they shall
hold office until their successors art
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 Caffery
shall be Second Vice President.
ARTICLE 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-
rectors who owns less than ten shares Of
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 be appointed by the
| Board OF Directors. Notice of such
election shall be given by publishing
same for not ess than ten days prior 10
said election, in one or more ncwspa-
pers i'll 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
occurring ON the Board of Directors
shall be filled by it for the remainder of
the term of the board. In case an cleo
tion 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-
vided for. Five Directors, including
the President or acting President shall
constitute quorum for the transaction
Of business, at the office Of the Bank
The Directors shall elect from their num-
ber President. one or more Vice. Presi-
dents. and Cashier. They may from
time to time appoint and employ such
officers, assistant cashiers, clerks and
other employees, as they may deem
necessary for the purpose of the busi-
ness OF this corporation, and they shall
hold office at the pleasure of the Board.
ARTICLE TX.
The Board of Directors may make and
establish, alter or amend any and all
bylaws, rules and regulations necessary
for the proper management of the busi-
ness and affairs of this corporation. All
corporate powers are hereby vested in
the Board of Directors, or in such Com
mittces or officers as may be appointed h;
the Board with sub-delcgatiOn of author
'ty.
ARTICLE X.
Tire seal Of this corporation shall be
y Pelican feeding her young encircle,l
with the words The st. Mary Bank ami
Trust Company. incorporated August
9O6'.
ARTICLE NJ.
Neither the President or Cashier OF
this bank shall ever be permitted to bor- !
row from it, either with or without col |
lateral security any amount exceeding |
ten per cent of the capital stock of the |
Bank, and all such loans must be first |
sanctioned by the Board of Directors,
in the absence Of the applicant for the
loan.
ARTICLE XII. -...
Whenever this corporation is dissolv-
ed. either by limitation or for any other
cause, it's affairs shall te liquidated by
three stockholders, to be appointed at "a
general meeting, notice of which shall
be published for thirty days in news
paper or papers published in the Town
Of Franklin, and majority of the stock
holders voting at said meeting will be
required to elect. In case of vacancy
among the Commissioners. the remain
ing Commissioners shall elect new one
from among the stockholders.
ARTICLE XIII.
This Charter may be modified, altered
or amended, the said Corporation dissolv-
cd with the assent of twO-thirds of the
stockholders present, or represented by
proxy at a general meeting of the stock
holders called for that purpose, after
notice thereof has been given in one or
more newspapers published in the Town
IF Franklin for thirty days preceding
said meeting and after written notice
10 each stakeholder mailed to his last
known post office, at least ten days be-
fore said meeting.
ARTICLE XIV.
No stockholder shall be liable for the
contracts or faults Of this corporation in
any further sum than due by him on his
subscl ption for stock.
Thus done, read and signed at my Of
6ce, in the Town of Franklin, Parish of
st. Mary, State of Louisiana. in the
presence of Jno. r. Colgin and J. Nj.
Caffery, two competent witnesses of
awful age and domicile, who have here
unto affixed their signatures together
with the parties hereto, and me, said
Notary, on the day and date first herein-
above written.
Original signed')
Name Address Shares
Wilson McKerall Franklin, La 136