The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1908-08-04
ACT OF INCORPORATION
OF THE
HOME BUILDING AND LOAN
ASSOCIATION.


STATE OF LOUISIANA,
Parish of Lafayette.
Be it known, that on this seventh
day of July, in the year OF our Lord
nineteen hundred and eight, before me,
Edward G.. VOORHEES,, a notary public,
duly commissioned and sworn, in n
for the parish of Lafa yette, State OF
Louisiana, and in the presence OF the
witnesses hereinafter named and uD-
dersign..d. personally came and APP
peared the parties whose names are
subscribed herein. who declared that,
availing themselves of the provisions
of the laws OF Louisiana. relative to
the organization of corporations, they
covenant, agree and bind themselves,
and those who may hereafter become
members of this Association for the
objects and purposes and under the
S~tiDulations following, tO-wlt:
ARTICLE I.
The name and title of said corpora
tion shall he ''The Home Building and
Loan Association" and under its
said corporate name, it shall have
mower to contract: sue and be sued:
TO make and use u corporate seal and
the same To break and alter at pleas
IRE: t., hold. receive, lease, purchase,
convey and pledge under its corpor.-
ate name. property, both real ana
personal: to lend money on security:
TO name and appoint such Ofhcers n
agents as the interests and conven-
fence of said corporation may require:
tn make and establish such bylaws,
rules and regulations for the proper
management and regulation OF the al
fairs of said corporation as may, De
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 10
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 Lafa yette, State of Louisiana,
and ali citatlons or other legal process
shall be served upon the president OF
said corporation, or, in his absence,
upon the ice-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
.-.1Aal 80 ,,coI for tho n,,roh n ca
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 the parish of Lafayette.
ARTICLE ".
The capital Of s"i3 corporation
shall be one million dollars, aud shall
be issued in shares, each represent
ing two hundred ,($200.0 0) dollars to
be paid in monthly installments Of one
dollar 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
ulVlOCuu VIOOIVCA v VAIO vUAuO Va O0Sh
share in force, in such manner as the
Board of Directors may determine.
When the shares of any n series,
by reason OF the payments on account
of the subscription thereto, together
cumulatiOns thereon shall be worth
the par value of two hundred $4,000 O)
dollars, each, the shares representing
the series SO arrived at par shall be
liquidated and paid over to the hold
ers thereof, on the surrender OF their
certificates; and whenever the shares
of the series last issued shall be worth
the par value of two hundred 1920 O)
dollars each, the Association shall be
liquidated by three commissioners, Sc
lected by the Board of Directors from
among the shareholders. The shares
shall be issued in series as determined
upon by the Board of Directors. The
Board of Directors shall have the
right when deemed advisable to issue
paid up stock o the payment at one
time of, one hundred dollars.
Said paid up stock shall be transfer
able in person or by written power of
attorney, and only on the books of
the Association. This paid up stock
may be called in and cancelled at any
time by said Association, after giving
thirty days notice to the owner, upon
payment of the book value, plus &C.
crued interest. Notice mailed to the
address given when the stock was issu-
ed or transferred shall be sufficient, and
oil interest on said paid up stock SO
called In shall cease at the date of re-
demption given in said notice. The
holder of said stock is otherwise en-
titled to all rights in the Association
as provided by the charter and by
laws, except as to participation in the
profits of the Association. nor can
persons holding such stock vote on
such stock, nor can they in any case
be members of the Board of Directors.
The said paid up stock shall draw in
terest at mol more than six per cent
per annum, and each Board of Direct
Ors at its first meeting shall fix the
rate OF interest to be paid on all such
stock issued during the ensuing year.
Any me of age and acting in their
RIGHT and hoha1f shall havo tho