The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-09-29

AT the annual meeting of the stoci
holders Of the st. Mary Building A
soclatl0n of Patterson. st. ary Parisi
La. convened on the 18th day of Au:
ust, 1906. tten days notice of said NEE
ing having been given bv mail by til
Presiden, TO all the stock holders) til
Charter As originally adopted by th
Association and as amended on the 18t
day OF January. 1898. and on the cot
day Of January, 1903. was altered. mod
flied and amended to read as follows. tC
wit:
| ARTICLE |.
The name and title Of said corporatio,
shall be and is THE ST. MARY
BUILDING ASSOCIATION and unde
its corporate name it shall have powe
to contract, sue and be sued: to max
and use corporate seal and the same t.
break and alter at pleasure; to hold, re
celve, lease, purchase, convey, mort
| gage and hypothecate under its corporal.
name property both real and personal
| to lend and borrow money on security
to name and appoint such officers anG
agents as the interest and convenience OF
said corporation may require: to make
and establish such by laws, rules aud reg
nlatiOns fer the proper management and
regulation of the affairs of said corpora
ton as may he 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 Louisiana 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:
and profitable method Of investing the
subscriptions Of its stockholders.
2nd. TO furnish them with the oppor-
tunity Of borrowing money on real estate
security. To carry out these objects
the corporation shall accumulate fund
from payments on subscriptions to the
capital stock, the payments of interest on
loans, and from money received from other
lawful sources: the funds so accumulated
to be used for the purchasing, building,
and repairing of real estate
and hOmesteads for its members. and re-
moving membranes therefrom, and |
for the loaning of money to its men,
Ders: and for the purchase of stocks and |
ponds.
The corporation is hereby prohibited |
rom lending money to any but its own |
stockholders and from accepting as Sc
'urity for such loans. property situated |
outside Of the Parish Of st. Mary.
ARTICLE ".
The corporate powers of the corpora
ion shall be exercised by Board Of
welve Directors, each of whom shall
wn not less than five shares. who shall
e elected by the stockholders present
# represented at the meeting to be held
on the third Tuesday in Janu-
ry.
Each stockholder, present or repre-
ented at said election and not in default,
hall he entitled to one vote for each
hare possessed by him or her.
At least ten days notice Of said cleo
ion shall be given by the Secretary
trough the mail Said election shall
e by ballot and shall be held at the
omicile of this corporation under the
lpervision Of three stockholders ap-
ointed by the Board OF Directors, at
le preceding regular meeting.
The twelve stockholders receiving the
ighest number of votes cast shall be.
ec!ared elected.
The failure to hold an election on the
ay specified shall not dissolve the cor
OratiOn, but the Directors IN office shall
old over until an election be held after
N d'ys notice shall have been given by :.
ail Of the time and place thereof.
The directors shall elect from their
umber "a President and Vice-President.
i've Directors shall be quorum for the p.
ansaction of business The Directors .
lall elect a Secretary, a Treasurer, and
'ch other officers and employees as may !.
necessary: and they shall have power
enact bylaws not repugnant to this |
larter, to select their time of meetings.
suspend any officer or director for
,glecr of duty or misconduct, and to =
me. and appoint their successors as
divided IN the bylaws, and shall have :;
neral authority to carry out the objects ;,
I'd business Of the corporation. =
ARTICLE V. n
The capital stock of this corporation p
all be ONE MILLION DOLLARS. e
| stock in force of date August 4th, b
O6, shall be recognized under the form S
which it has been issued. but from
d after said date, all additional shares s
stock issued shall be under one of the 0
ur lans, hereinafter fully described 0
d designated. to-wit: Permanent L
ock, Fnll Paid Stock, lnstallmeut II
ock, and Dayton Stock. in such l Il