The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-08-24
ACT OF INCORPORATION
-oF THE
vERDA STATE BANK
STATE OF LOUISIANA

Re II known and remembered that on TINS 18TH
day of June A. u. 1897. before me Elisha y Mur,
ralf a xotarv pubIic duly commissioned ana
anafed within and for the parish OF iran. hiu
STATE of Louisiana personally came anu hppear-
ed the persons whose names are hereto sabserie-
al Who declared that availiIfg themselves OF the
provisions OF the law Of the state on i-oulsiana
relative to the formation OF corporations 'or CUE
nnrnose OF banking they do by these presents
covenant ngree aud bind themselves as Well ar
| such other persons as may become associateu
with them, to form aud constitute ac"rporau,un
and body polite In Law for the purposes ana uhue'
| the agreements and stipulations as ioho"s. To- |
wit:
| THE name and title OF this corporation shall be
yEkDA STATE BANK. Its domieiie and place
| 81 doing business shall be and is hereby estao-
shed at Verda parish Q, s - Ssrebx ased At
| Twenty-Ffve Thousand l$25.ooo ool Dollars, di.
vided into and represented by Two Hundred ana
| Fifty shares OF One Hundred Dollars each Inc
| said bank shall commence business when one
/ hundred shares OF its capital stock shall have
| been subscribed and paid for. .
The stock OF this said corporation not subscrlD-
ed for at the date OF its organization may be A.
sued at any time by vote OF two-thirds OF the
entire board of directors, on terms and condi-
tons fixed by said board within the limits Of the
law The stock herein subscribed for shall be
paid for in cash ON or by July list iso'-
ARTICLE Ill.
This corporation shall commence its existence
from date of these presents. and shall continue
for "a period of ninety nine years. and by its cor
porate name shall sue and be sued plead ana pe
i'm pleaded, appear and prosecute. In any and all
courts OF Justice here and elsewhere. The presi-
dent Of this bank shall be the proper person
upon whom service. citation and other legal
processes shall he served, and In his absence Oh
either the vice president or cashier
ARTICLE Ill.
| This corporation IL organized for the purpose
of doing n general banking business under the
laws of the state of Louisiana aud shah have
power to do all things permitted by law to carry
on general banking business.
ARTICLE Nv.
, Said corporation shall be managed by board
of nine directors, who shall be stockhodsrs OF
this corporation and elected by ballot OF the
Z stockholders present the first Monday In
June. and the same day Of each succeeding
" year thereafter. the board Of directors named
| hereinafter holding office until the above date
and until their shall have been elected
y | and qualified. The board of directors shall be
: elected for one year or until the next regular an
| pual meetin9 hut in OF failure To elect nj
i said annual meeting the directors then holding
. shall continue In office until theirsuccessors have
y been duly elected and qualified. and failure u
elect shall not dissolve this corporation. In case
= of failure elect directors at the regular annual
= meeting. then they may be elected at a special
meeting of stockholders called thereaiter Tor tna'
r the supervision of three stockholders to he ap
u pointed by the board Of directors for that pur
r nose and in the event of failure ON the part o
d any commissioner to act the prcsi.lrnt shall ap
| point another to MI his place. The nine per
- sons receiving the highest numter Of votes. count
" ing one share shall be- declared elect
~ ed The said board Of dirretorsis hereby author
~ ICED and empowered to make whatever contract
Y. of employment otherwise that are necessar.
~ Tor organizing aud carrying on the business
said bank The said board OF directors sha
=, have power to M any vacancies occurring %
ea the board from among the stoekhoders OF sal
~ corporation
d. Said hoard of directors shall have power I
re make such bylaws as are necessary and propt
for the management Of said corporation, aud
ST. alter and repeal the at their pleasure. The
lrs shall adopt for the use OF the said bank a se'
~ having as a'deviee M IRA 5y vr sma
De STATE BANK, the smaller circumference an
enclosing the words .Gorporate Seal.
all This act of incorporation may be changes
nj modified, altered and amended at a meeting
ct the stockholders convened for that purpose aft
~ thirty DAYS notice by publication in any new
ate paper in the parish of Grant, and by thirty da,
no written notice to each OF the stockholders, pr
ne vided said modification alteration or amen
ng ment be voted for by two-thirds OF the stock
Or sued by said corporation.
en- ARTICLE VII.
eel The stock of this corporation shall be- tran
aln Ierred only upon the books OF the corporatio
ON and will not be transferred until all indebtedne
Of to the corporation by the person owning 8
stock on the s books has ss 81 sSse
lay Tor any Indebtedness Of the person owning sar
~ on the books
AZ, No stockholder shall ever be held liable for t
my contracts or faults OF said corporation in n
LAY further sum than the stock owned by said rtos
tns holder. nor shall any mere iniormality In :
o'o OF rendering this charter null and void nor OF
en- posing any stakeholder to any further iabili
her than the stock owned by him.
amt ARTICLE TX.
sfe- The following named persons and stockholds
orr of this corporation hereby declared to be I
UNI first board of directors, and shall hold tn
De Office until the first Monday In June. 1905.
Tor their successors have been elected, to-wit ID.
the Wallace r. W. Wagner. H. NJ. Brock. G. l.. p
'wI' Wis. r. q. Aubrey II. A. McManus, w. 7. Pc
lW A Fletcher and !. NJ Lang.
ARTICLE X.
WEI This corporation shall be dissolved and liz
oy dated at the termination OF this charter earl
onE by threefourths vote of the capital stock a
nail meetinx held for that purpose. The directors
oI charge at the time of said liquidation shall liz
c t. 49, ~, s.irs ~ the hank as com mi ssioners
10 pointed for that purpose.
'on- ARTICLE XII.
tne There shall be a general stockholders meet
lth- on the first Monday In June Of each year. and
ies all stockholders meetings, either general sp
ora- AL each stockholder shall be entitled to "
san | for each share Of stock owned by him or her
pr- the books of the corporation. and said vote n
pro- be cast either In person by written proxy.
ate. Thus done aud passed ut verda. Louisiana.
ec' the parish of Grant. on this the 18th day of Ju
yes, 1897 In the presence of Geo. A. Kelly and Da
sary Kahn two legal witnesses. who sign these p
lnu' eats with said appearers and me, said Not
WIZ Public. after due reading
nine ATTEST:
,r GEO A. KELLY.
DAVID KAHN.