The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-08-25

al the annual meeting Of the stock
holders OF the 81. Mary Building As
sorlatl"n Of Patterson. st. ary Parish
La, convened on the 4th day of Aug
ust l'Nb. Hcn days notice of said mcc,
lhg having beru given hy mail hy I'll,
President 10 all the stock hodersl III,
Charter as originally adopted by thi,
Association and as amended on the 1911
day Of January, 1898. aud on the 2O,l
uN ol January. 1903, was altered. mod
lhti and amended to read as follows. 10.
wit:
ARTICLE |.
The n.!He and title Of said CORPORATION
shall ~ and il THE ST. MARY
BUILDING ASSOCIATION and under
It's corporate name it shall have power
to contract. sue and be sued: to make
and use corporate seal and the same 10
brcan ami alter at pleasure: to hold, re-
ftiEc. lease. purchase. convey, mort
gage and hyputhccate under its corporate
name property both real and personal:
10 lenh ana borrow money on security:
10 name and appoint such officers aud
| agents rs the interest and convenience Of
sald corporation may require: to make
ara establish such by laws. rules aud reg
| uia'l"Hs Tor the proper management and
regulation Of the affairs of said corpora
| tlon as may he necessary and proper and
the same to change and alter at pleasure:
anu to do all snch acts and things as are
| or may be proper and necessary to carry
out The objects of said corporation.
ARTICLE III.
The domlcile of said corporation shall
pc IN the Town Of Patterson, Parish Of |
ST. Mary, State Of Louisiana. and al |
citations or other legal process snail 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:
lst. To provide a convenient. safe
and profitable method of investing the
subscriptions Of its stockholders.
2nd. TO furnish them with the oppor-
tunity Of borrowing money on rea! 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,
improving and repairing of real estate !
and homesteads for its members, and re- {
moving membranes therefrom, and
for the loaning of money to its mem q
bers: and for the purchase of stocks and e
bonds. \
The corporation is hereby prohibited V
rom lending money to any but its own u
stockholders and from accepting as Sc
'urlty tor such loans. property situated
outside Of the Parish of St. Mary. ~
ARTICLE " 4
The corporate powers of the corpora 81
ion shall be exercised By Board Of ii
welve Directors, each Of whom shall q
VIII not less than five shares who Shall It
e elected by the stockholders present it
+ represented at the meeting to be held
nnually on the third Tuesday in Janu- Sc
ry. M
Each stakeholder, present or repre- tu
anted at said election and not in default. fir
hall be entitled to one vote for each
hare possessed by him or her. be
At least ten days notice Of said cleo st
on shall be given by the Secretary
trough the mail Said election shall
e by ballot and shall be held at the
omicie of this corporation under the li
lpervison Of three stockholders APP ~
Ointed by the Board OF Directors, at pa +
le preceding regular meeting. ~
The twelve stockholders receiving the
ghest number of votes Cast shall be. 10
,clared elected. 'n
The failure to hold an election on the ~
" specified shall not dissolve the cor e1 ee1
,ratiOn. but the Directors IN Office shall l.' ~,
Did over until an election be held after ~ nC
n days notice shall have been given by ~
all Of the time and place thereof ',i'
nv ,l;roo,|,z sI,ali -I1at fua.,' t;.. ella
lmber d President and President. :.
We Directors shall be quorum for the .,' .e'
,nsaction Of business The Directors ~. .he
all elect a Secretary, a Treasurer. and lD< ln(
ch other officers and employees as may -;
necessary: and they shall have power ~ ~
enact bylaws not repugnant to this RI
arter, to select their time of meetings. va.
suspend any officer or director for ~
glecU Of duty or misconduct, and to @ n'
me and appoint their Successors as 20,
)vided in the bylaws, and shall have
neral authority to carry out the objects s .nS
d business Of the corporation. N.Y. NY
ARTICLE V. ma
The capital stock OF this corporation per
Ill be ONE MILLION DOLLARS. ed
stock in force of date August 4th, be
)6, shall be recognized under the form Sto
which it has been issued, but from I
after said date. all additional shares sha
stock issued shall be under one of the of
II lans, hereinafter fully described on
designated, to-wt: Permanent Dis
,ck. Fnll Paid Stock, Instalmeut min
,ck, and Dayton Stock, in such the.