The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-07-27
ACT or INCORPORATION
Or THE
vERpA STATE BANK
STATE OF LOUISIANA.

STATE OF LOCISiANA,(
PARISH or GRANT.
BE IT known and r'm,embered that on this 18th
day of June A. u. 1871. before me Elisha = Muir
reil a Notary Public duly commissioned and
qualified within and for the parish OF Grant ana
State of Louisiana. personally came ana appear
ed the persons whose names are hereto subserib-
ed who declared that awaiting themselves OF the l
provisions of the law Of the state Of Louisiana
relative to he formation of corporations for the
purpose OF banking, they do by these presents
covenant agree aud bind themselves as well as
such other persons may become associated
with them. to form and constitute corporation
and body polite in law for he purposes and under
the agreements aud stipulations as follows, TO- |
wit:
The name and title OF this corporation shall be |
VERDA STATE BANK. It's domciIe and place
Of doing business shall be- and is hereby estat- |
shed at verda. parish OF Grant. state OF Lonsi,
ana aud it's capital stock Is hereby fixed at
Twenty Five Thousand t$25.W0 0el Dollars, di-
yded ii,to aud represented by Two Hundred and
Fifty shares OF One Hundred Dollars each. Inc
said bank shall commence business when one
hundred shares Of it's capital stock shall have
been subscribed and paid for.
The stock of this said corporation not subscribe
ed for at the date Of it's organization may be Is
sued at any time by vote Of two-thrds OF the
entire board OF directors. terms and eondi
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 LIST. 1891.
ARTICLE H.
This corporation shall commence it's existence
|. rom date vi these presents, and shall continue
Tor period of ninety nine years, and by its cor
| porate name shall sue aud be sued. plead and be
| mpleaded. appear aud prosecute, In any and al
courts of Justice here and elsewhere. The presi-
| lent OF this bank shall be the proper person
| u,on whom service. citation and other legal
processes shah be served, and IN his absence ON
either the vice-presideni or cashier
ARTICLE Ill.
| This corporation is organized for the purpose
| Of doing a general banking business under the
laws Of the state OF Louisiana aud shall nave
i power to do all things permitted by law to carry
IN a general banking husiness.
ARTICLEIv.
Said corporation shall managed by a board
,f nine directors who shall be stockholders uf
This corporation aud elected by ballot Of the
stoekhs ,.lers present on the nrst Monday In
tune and on the same day Of each succeeding
year thereafter. the board Of directors named
hereinafter holding Office until the above date
aud until their shall have been elected
| and qualified. The board of directors shall be
elected for year until the next regular an
| nual meetins but In of failure To elrct at
| said annual meeting the directors then holding
hali continue In Office until their successors have
! | been duly elected and qualified and failure to
elect shall not dissolve this corporation. In ease
II failure elect directors at the regular annual
meeting, then tlley may he elected at special
meeting of holders called thereafter for that
| purpose All sieStions shall be conducted under
tue supervision of three stockholders to be ap-
. pointed by the board Of directors for that pur
any commissioner to act. the president shall ap
point another to MI his place. The nine per
sons receiving the highest number OF votes, count
ing one vote each share shall be declared elect
ID. The said board Of directors Is hereby author
5xed and empowered to make whatever contract'
. of employment or otherwise that are neeessar,
J for organizing and carrying ON the business
said bank. The said board of directors shall
|, have power to all any vacancies Occurring o.
4 che board from among the stockholders Of said
corporation.
Said board OF directors shall have power Il
make such by-iaws as are Desessary and prope
Ian
: alter aud repeal the same at their pleasure. The.
shall adopt for the use of the said bank sea
2 having as device-----separated by SINAI
Z annual space in which shall be the words VERDI
STATE BANK, the smaller circumference an'
enclosing the words Corporate Seal
II ARTICLE vi.
This act of Incorporation may be changed
= modified, altered and amended at meeting O
the stockholders convened for that purpose. ate
: thirty days notice by publication in any news
paper in the parish of Grant, aud by thirty day
q written notice to each Of the Stockholders, pro
e vided said modification. alteration or amend
Z ment be voted for by two-thirds Of the stock Il
: sued by said corporation.
; ARTICLE VII.
The stock Of this corporation shall be trans
y Terred only upon the books Of the corporation
and will not be ira nsferred until all indebtedness
u | to the corporation by the person owning tn
y stock on the books has been paid or satisfied
All stock of this corporation IL held liable to
J ior any indebtedness OF the person owning sam
ARTICLE VIII.
4 No stakeholder shall ever be held liable for tn
y contracts faults of said corporation In an
, further sum than the stock owned by said stock
holder. shall any mere sinforinaIlty In tn
g organization Of this corporation have the efec
If rendering this charter null and void nor Of
: posing any stockholder to any further liabilit
y than the stock owned by him.
t" ARTICLE IN.
: The following named persons and stockholder
: Of this corporation hereby declared to be tn
! hrst board OF directors and shall hold thei
Office until the first Monday In June 1905 or unit
" their successors have been elected. to-wit: d. II
{ Wallace. r. W. Wagner. H. NJ Brock. G. L. Pun
Wis, T. @. Aubrey, H. A. McMunus. w. 7. Pool
W. A. Fletcher and j. NJ Lang.
ARTICLE X
This corporation shall be- dissolved and iqu
dated az the termination Of this charter earle
Z by three-fourths vote Of the capital stock at
y | meeting held for that purpose. The drcctOrs Il
! charge at the time OF said liquidation shall lqu
y date the affairs Of the bank commissioners az
pointed for that purpose
! ARTICLE xI
There shall be general stockholders meeting
i on the first Monday in June OF each year. and n
all stockholders meetings. either general spec
: al each stoekholder shall be entitled to vot
, for each share Of stock owned by him or her o
; the books Of the corporation. and said vote ma
; be east either In person or by written proxy.
!. Thus done and passed at Verda. Louisiana, 4
= the parish Of Grant. this the 18th day Of June
, Kahn, two legal witnesses. who sign these pref
I Public. after due reading.
= ATTEST:
GEO. A. KELLY.