The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-08-17
ACT OF INCORPORATION
or THE
vERDA STATE BANK
STATE OF LOUISIANA

PARISH or GRANT
Re II known and remembered that on this 18th
day Of June. A. D. 1897 before me Elisha :; NIT,
qualified within and for the parish OF 1fant ano
State Of Louisiana. personally came ana appear
oil the persops whose names are hereto subscrib-
IA Who declared that awaiting themselves Of the
proysiops of the law of the State OF Louisiana
relative to the formation of corporations for the
Covenant agree aud bind themselves as well as
such other persons as may become hssocia.eu
with them, to form and constitute corporation
and body polite In law the purposes ana uhoer
the agreements ana stpuia'ons as i"o"e' ~
wit:
The name and title OF this corporation shall De
yERDA STATE BANK. Its domiciie and place
OF doing business shall be and IL hereby estao-
lished at verda parish OF Grant, state of Louisi
ana and it's capital stock is hereby liked at
twenty Five Thousand t$25.O00 COL Dollars, d.
yjded into and represented by Two Hundred ana
| Fifty shares of One Hundred Dollars each The
said bank shall commence business when one
| hundred shares of its capital stock shall have
been subscribed and paid for.
| The stock OF thissaid corporation not subscrb-
ed for at the date Of its organization may be Is
| sued at any time by a vote OF two-thirds OF the
entire board of directors, terms and condi-
tions 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 ist 1897
ARTICLE III.
This corporation shall commence its existence
from date of these presents. and shall continue
lfor "A period OF ninety nine years. and by Its cor
| norate name shall sue and be sued plead aud be
implicated. appear and prosecute, In any and AL
eourts Of Justice here and elsewhere. The pres-
dent Of this bank shall be the proper person
upon whom service. citation and other legal
processes shall be served. and In his absence ON
either the vce-president or cashier.
ARTICLE Ill.
| This corporation IL organized for the purpose
OF doing general banking business under the
laws of the State of Louisiana and shall have
power to do all things permitted by law tn carry
: ON a general banking business.
ARTICLE Nv.
Said corporation shall be managed by board
of nine directors. who shall be stockhoiders ol
this corporation and elected by ballot OF the
stockholders present on the nrst Monday Ia !,
" year thereafter. the board OF directors named
hereinafter holding Office until the above date
and until their SUCCESSORS shall nave pen seS's 80
Y and qualified. The board Of directors shall bs
, elected Tor year until the next regular an
y nual neetin9 but In case Of failure to elect M
! said annual meeting the directors then noin,ne
y been duly-elected and qualified. and failure &c
| elect shall not dissolve this corporation. In easA
III failure to elect directors AT the regular
= meeting then they may be elected at a specia
meeting OF stockholders called thereafter Tor tina
= purpose An elections shall be conducted unde
4 the supervision OF three s6ocknoiders Y, pe ~
:, pose and in the event Of failure ON the part
ID any commissioner to act. the n3csitlent shall az
l"rs recyinr the highest n,,mter Of votes count
ing one vote each share. shall s declared elecl
=! ID The said board of directors In hereby nnthoi
:, lied aud empowered TO make Whatever eonsra '
~ for organizing and carrying on the business I
said bank The said board of directors sha
:, :, have power to Ill any vacancies Occurring
nd | the board from among the stockholders Of sal
~ corporation.
)i Said board of directors shall have power
re make such bylaws as are necessary and props
fur the management Of said corporation, and
81 alter and repeal the at their pleasure. The
nd In wing A. a ----separated by a sma
h. annual space In which shall be the words WEIRD
D. STATE BANK. the smaller circumference al
enclosing the words ,G3rp 9 NJ seal
al This act of Incorporation may be change
ur modified, altered and amended at meeting
De- the stock holders convened for that purpose ait
ry- thirty DAYS notice by publication In any new
atr paper I'm the parish of Grant, and by thirty da
no written notice to each OF the stockholders, pI
ne vided said modification, alteration or amsn
ne ment be voted for by two-thirds of the stock
or sued by said corporation.
ec' The stock of this corporation shall be trai
All erred only upon the books of the corporate
on and will not be- transferred until all indebtedns
oi TO the corporation by the person owning I
ess stock on the books has been paid or satisn'
ns* All stock OF this corporation Is held liable to
1sy Tor any Indebtedness of the person owning sa
pns on '"e ''oA' ARTICLE VIII
Ak No stakeholder shall ever be held liable for
IN, contracts or faults OF said corporation in a
Jay further sum than the stock owned by said stO
ths holder, nor shall any mere informaty In
a. | organization Of this corporation have the eff
old of rendering this charter null and void nor Of
en- posing any stock older TO any further liabil
her than the stock owned by him.
sWi ARTICLE TX.
sre The following named persons and stOckhOld
orr of this corporation hereby declared to be
uni nrrt board of directors. and shall hold tn
o. Office until the first Monday In Jnne 1908, or VI
Tor their successors have been elected, tO-wft: ID.
the Wallace, r.. W. Wagner. H. N. Brock, c. J..
'w1 Wis. T. G. Aubrey. H A. McManus, W. T. Pc
lW Fletcher and ]. NJ. Lang.
ARTICLE X.
WEI This CORPORATION shall be dissolved and liz
ny dated AT the termination of this charter. ear
ong nv a three-fourths vote of the capital stock n
hall meeting held for that purpose. The Director
o. charge at the time Of said liquidation shall lie
g H. date the affairs Of the bank commissioners
IN | pointed for that purpose.
'on- ARTICLE XII.
tne There shall be general stockholders meet
ltn- on the first Monday In June of each year, and
ies All stockholders meetings. either general sp
Ora AL each stakeholder shall be entitled to
SAT FOR each share of stock owned by him or her
pro- the books Of the corporation. and said vote n
pro- be cast either In person or by written proxy
ate. Thus done and passed ut yerda. IousiHna
ieci the parish Of Grant this the 18th dayof il
yes, 1897 In she presence Of Geo. A. Kelly and Da
sHrs aim two legal witnesses, who sign these p
ion' euts with said appearers and me, said Not
WIN WIN Public after due reading.
nine ATTEST:
pr. GEO. A. KELLY,
nAVTn KAHN