The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1908-07-28
= ACT OF INCORPORATION
or THE
HOME BUILDING AND LOAN
ASSOCIATION.
STATE OF LOUISIANA,
Parish of LAFAYETTE.

day Of July, in the veal of our Lore
nineteen hundred and eight, before me
Edward G. VOORHEES,. a notary public
duly commissioned and sworn. in ant
for the ,,arish of Lafa yette, State o
Louisiana, and in the presence of tn
witnesses hereinafter named n nB
d%ersigned, personally came and APP
peared the parties whose names ar,
subscribed herein. who declared that
availing themselves of the provision.
of the laws of Louisiana. relative Il
the organization OF corporations, the!
covenant, agree and bind themselves
and those who may hereafter become
members of this Association for tn,
objects and purposes and under thu
stipulations following, to-wit:
ARTICLE I.
The name and title of said corpora,
ton shall he ''The Home Building anG
Loan Association" and under it,
said corporate name, it shall have
power to contract: sue and be sued
to make a'd Use a corporate seal and
the same to break and alter at pleas.
ure: Ia hold, receive, lease, purchase,
convey and pledge under its cOrpOr
ate NAME. property, both real and
personal: to lend money on security:
to name and appoint such officers and
agents as the interests and cOnven-
fence of said corporation may require:
to make and establish such bylaws,
rules and regulations for the proper
management and regulation of the af-
fairs of said corporation as may be
necessary and proper, and the same
to change and alter at pleasure, and
to do all such acts and things as are
or may be necessary and proper to
carry out the objects and purposes of
said corporations: and said corpora
ton, unless sooner dissolved under
the provisions of this charter, shall
exist for a period of ninety-nine years.
ARTICLE II.
The domicile of said corporation
shall be in the city of Lafayette, Par.
ish of Lafayette, State of Louisiana,
and all citations or other legal process
shall be served upon the president of
said corporation, Or, in his absence,
upon the vice-presldent, or, in the alb
sence of both these officers, upon the
secretary.
ARTICLE III.
The object of this Association shall
be the accumulation of a fund from
the monthly instailments on account
of subscriptions to the capital, rentals.
premiums and loans, the same so &C
cumulated to be used for the purchase
and sale of real estate, the building,
rental and sale of homesteads, and
when necessary or advisable, the loan
ing of money on mortgage security,
IN tho no rich of +. n IA VOTE
ARTICLE w.
The capital OF said corporation
shall be one million dollars, and shall
be issued in shares, each represent
ing two hundred $500. 0O) dollars to
be paid in monthly installments of one
per share.
Minors and married women may
hold, subscribe for, transfer and with
draw shares in the manner. prescribed
by law.
At the close of each fiscal year, the
net profits shall be apportioned and a
credited to the value of each
share in force, in such manner as the
Board Of Directors may determine.
When the shares of any one series, |
By reason of the payments on account
Df the subscription thereto, together
With the addition of the profits and &C.
thereon shall be worth
he par value of two hundred 1890. OO)
dollars, each, the shares representing
he series SO arrived at par shall be
and paid over to the hold
ne thereof, on the surrender of their
and whenever the shares
II the series last issued shall be worth
he par value of two hundred (92OO. OO)
dollars each, the Association shall be
by three commissioners, Sc. F
ected by the Board of Directors from
Imong the shareholders. The shares
hall be issued in series ~ determined
lpon by the Board of Directors. The
Board of Directors shall have the
light when deemed advisable to issue
aid up stock on the payment at one
line Of one hundred dollars. /,
Said paid up stock shall be transfer
BILE In person or by written power of
ttorney, and only on the books Of I
Association. This paid up stock {
lay be called in and cancelled at any !
me by said Association, after giving
1irty. days notice to the owner, upon
ayment of the book value, plus &C. G
rued interest. Notice mailed to the !
ddress given when the stock was issu- 3
! or transferred shall be sufficient, and =
n interest on said paid up stock so
llled In shall cease at the date of re- q
emption given in said notice. The &
older of said stock is otherwise en- :
tied to ell rights in the Association h
} provided by the charter and by
'ws, except as to participation in thel
of the Association. nor can
ersOns holding such stock vote on n
lch stock, nor can they in any case n
!, members of the Board of Directors. Il
he said paid up stock shall draw in q
rest at not more than six per cent II
n annum, and each Board of Direct r.
3 ct It's first meeting shall fix the y,
'te OF interest to be paid on all such "
ock issued during the ensuing year. II
ny one OF age and acting in their d
m right and behalf shall have the -
ght to file application for such stock -
tn the secretary at any. time, and h
i'd application will be acted upon in ~
order Of its filing. The fiscal year :
oil end on the last day of each wear. .,
ARTICLE V. m
The corporate powers of the Asso- ol
ItiOn shall be exercised by eleven 81
oonh ~ -hnro shall - re-