The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1907-07-20
ACT or INCORPORATION
-0F THE
vERDA STATE BANK
STATE OF LOUISIANA
PARISH or GRANT. !

|
ed the persons whose names. are hereto suoscro-
j., uho declared that awaiting themselves OF the
provisions Of the law OF the state of Louisiana
ro,a,,ve m he formation of corporations for the
purpose OF banking. they do by these presents
a,,ra,ant agree and bind themselves well as
sueh other persons as may become assoeiated
with them 70 form and constitute corporation
and body polite In law for the purposes and under
ths agreements and stipulations follows to-
wit:
ARTICLE 1.
The name and title OF this corporation shaii oc
vEppa STATE BANK. Its domieile aud place
~ doing business shall be aud is hereby estab-
Iished at verda. parish of Grant. stare "' i'a'''
ana and its capital stock Is hereby nxed at
rxs,t = rive Thousand ,ss5.ooo oo) Dollars d.
vded into and represented by Two Hundred and
r,,tv Al ares O, one Hundred Dollars each. The
said bank shall commence business when one
hundred shares of it's capital stock shah nave
been subscribed and paid for.
The stock OF this said corporation not subscno-
Cd for nj the date Of it's organization may beis
-ned at any time by vote OF two-th'rds Oh IN.
entire board Of directors on. terms aud coudi-
inns axed nv said board within the limits Of The
law The stock herein subscribed for shall be
y
ARTICLE H.
| This eornoration shall commence its existence
from date Of these presents. aud shall continue
for a period of ninety nine years, and by its cor
porate name shall and be sued. plead ana ps
implicated, appear and prosecut~, In any ana all
courts OF Justice here and elsewhere The pres'-
dent CT 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 vice-president or cashier
ARTICLE III.
This corporation is organized for the purpose
Of doing u general banking business under the
laws of the State OF Louisiapa aud shall have
power to do all things permitted by law to carry
on general banking business
AsTIcLEIv
Said corporation shall be managed by q board
: az nine directors. who shall be stockholders "i
this corporation and elected by ballot OF the
stockholders present the first Monday In
June. aud ON the same day Of each succeeding
| wear thereafter, the board OF dirertors named
hereinafter holding ONCE until the above date
and until their successors shall have been elected
and ouaiihed The board Of directors shall be
eecred for one year or until the next regular an
nm, ,peetins but In case Of failure to elect at
: said annual meeting the directors then holding
shall continue In Office until their successors have
; been duly elected and qualified. ard failure u
elect shall not dissolve this corporation In cas-
If failure to elect directors at the regular annua
meeting then they may be elected at specia
meeting of stock holders called thereafter for tina
. purpose All elections shall he conducted unde
/. the supervision Of three stockholders Ia be al
po,uted by the board of directors for that pur
: nose and iu the event Of failure on the part Q
apy CON missioner to act. the president shall al
r point another to MI his place. The nine pei
sons receiving the highest numb Of votes. count
ing one vote for each share shall be declared elect
cd The said board Of directors Is hereby author
v ,zet and empowered to make whatever contract
l. Of employment or otherwise that are necessar
TOR organizing and carrying on the buslness {
said bank. The said board OF directors sna
have power to MI any vacancies occurring
e the board from among the stockholders Of sal
! corporation.
III ARrICLEv
said board Of directors shall have power I
make such bylaws as are necessary and props
for the management of said corporation. and
alter and repeal the same at their pleasure The
shall adopt for the Of the said bank se'
having as a device-----separated BY q SIMS
annual space in which shall be the words vERD
x STATE BANK. the smaller circumference Al
Il enclosing the words Corporate Seal"
III ARTICLE vi.
II This act of Incorporation may be change
: | modified. altered and amended at a meeting
= the stockholders convened for thatpurpose. aft
thirty days notice by publication in any new
a, papcr In the parish Of Grant aud by thirty da
!. wr;tten notice to each OF the stockholders. pr
Evided said modification. alteration or amen
u meut be voted for by two-thirds Of the stock
Is sued by said corporation.
nj ARTICLE VII.
The stock of this corporation shall be trai
ferred only upon the books Of the corporation
T. and V III not be ira nsferred until all iadebtetus
Il to the corporation By the person owning t
NJ stock ON the books hAs been paid or statistic
An stock ii this corporation Is held liable to
for any indebtedness OF the person owning SUI
H. on the books.
u ARTICLE VIII.
~ No rtockhoIder shall ever BIZ held liable for
y, contracts or faults of said corporation In a
further sun, than the stock owned by said sto'
O. holder. nor shall any mere informaIity In I
te organization OF this corporation have the En-
,,s of rendering this cha Ser null and void. nor of
posing any stakeholder TO any further liabil
than the stock owned by him.
oe ARTICLE IN
to The following named persons and stockhold
hp of this corporation are hereby declared to be
:. :, nrst board Of directors and shall hold tn
Office until the first Monday in une 1905. or Vi
y, their succsspors have been elected. to-wit: ID.
.se wallace. r. w. Wagner. II. NJ. Brock, c. l..
Wis. T. C. Aubrey. II. A. McManus, W.T. RI
II, W. A. Fletcher and }. NJ. Lang
ARTICLE X.
This corporation shall be dissolved and nc
me- dated at the termination Of this charter or ear
at: by three-fourths vote Of the capital stock
NJ. meeting held for that purpose. The direction
charge at the time of said liquidation shall IN
~ date the affairs OF the bank az commissioners