The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1906-11-03

zcd agent, and shall be considered a
Incorporated herein. No subscribe
hal sell his stock without first giving
written notice to the association Of hi
mention to do SO: and during five day
'fier such notification. the association
htnngh its Beard of Directors, shal
have The right to buy said stock at sucl
coma file p ice as may be offered for same
The association shall reissue said stoct
pfttr" the expiration of thirt, day:
rom rs purchase. Stock transferred Il
fhird parlies in disregard of this article
shall be considered sold to the assOcia
hon at its market price and the old Ger
tlhcate shall be cancelled, and new ones
Issued to the association.
| ARTICLE VII.
This corporation shall be managed by
! Board Of Directors composed of twelve
stockholders. The following persons
re hereby nominated for the first Board
If Directors, to-wit:
! DONELsON CAFFERY. WILLIAM
KRAMER, }. B. RODRIGUEZ,
WILSON T. PETERMAN. JOHN D.
BELL. J. 3. BROWN. J. SULLY
MARTEL, WILSON MCKERALL, J.
w. FOSTER, ID. CAFFERY, JR.,
JOHN NJ. MIGEOT, r. EMMETT
O'NIELL.
Said Directors shall hole Office until
he second Tuesday of January, 1907.
The President Of this Bank shall be
Wilson McKcrall, and the Cashier shall
be X. Emme, O'Niell, and they shall
hold Office until their successors are
elected. Donelson caffery Jr., shall be
the Trust Officer of this Corporation
and bis 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 Gallery
shall be Second Vice President.
ARTICLE VIII.
The Beard of Directors shall be elect
I'D annually OF 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
tie ca pilal 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 he given by publishing
same for not ess than ten days prior to |
said election, in one or more newspa-
pers in 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
on the Board Of Directors
shall lie filled by it for the remainder Of
tire term of the board In case an cleo
the Directors then in Office shall hold
over until their successors are elected
and qualified, and in that case, an cleo
ton shall be held as coon as possible,
after notice has been given as above pro-
rded for. Five Directors, including
he President or acting President shall
constitute quorum for the transaction
If business, at the Office of the Bank.
The Directors shall elect from their num- :
,er President. one or more Vice. Presi-
tents. and Cashier. They may from -.
ime to time appoint and employ such
Ulcers, assistant cashiers, clerks and
'ther employees, as they may deem
necessary for the purpose of the bust
ess Of this corporation, and they shall
Olu ONCE au UDe pleasure OF the Board. | :
ARTICLE TX.
The Board Of Directors may make and !
alter or amend any and all
y-laws, rules and regulations necessary
Or the proper management of the bust
ess and affairs Of this corporation. All
orporate powers are hereby vested in
re Board of Directors, or in such Com 4
ittees or officers as may be appointed b. :,
he Board with sub-delcgation Of author
y.
ARTICLE X. %
The seal of this corporation shall be n
A Pelican feeding her young encircled
it'll the words The st. Mary Bank and
rust Company. Incorporated August
'O6'' VI
ARTICLE XII. 4"
N-lther the President or Cashier of IN
is bank shall ever be permitted to Dor
W from it, either with or without col A
teral security any amount exceeding
n per cent Of the capital stock of the W
INK, and all such loans must be first
nctioneh by the Board Of Directors. G.
the absence OF the applicant for the
IN. IJC
ARTICLE XII.
Whenever this corporation is dissolv- Nj
either by limitation or for any other
use, its affairs shall tie liquidated by p
zee stockholders. to be appointed at a
neral meeting, notice of which shall M,
published for thirty days in news
per or papers. published in the Town J
and a majority Of the stock
ders voting at said meeting will be NJ,
nired to elect In case Of a vacancy
ong the Commissioners, the remain Mr.
Commissioners shall elect new one
m among the stockholders. 10,
ARTICLE XIII.
his Charter may be modified, altered A
mended, the said Corporation dissolv-
with - assent of twO-thirds of the Oh,
,khOlderA s~pr represented by