The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1908-08-11
ACT OF incorporation
OF THE
HOME BUILDING AND LOAN
ASSOCIATION.
STATE OF LOUISIANA, I
Parish at Lafa yette.

Edward G.. VoGwhies, a notary public.
d,ly commissioned and sworn, In n
for the :arish Of Lafayette, State OF
Louisiana. and in the presence OF the
witnesses hereinafter named and up-
dersiyn-,;. personally came and ap-
reared the parties w4ioSe names are
subscribed herein, who declared that,
awaiting themselves of the provisions
of the laws OF Louisiana. relative To
the organization of corporations, they
covenant. agree anu bind themselves,
and those who may hereafter become
members of this Association for the
objects and and under the
stinulations following, to-wit:
ARTICLE I.
The name and title of said corpora
t;on shall he s'The Home Building and
loan Association" and under its
said corporate name, it shall nave
mower to contract: sue and be sued;
To make ard use a corporate seal ana
the same to break and alter at pleas
ure: tn hold, receive, lease, purchase,
convey and pledge under It's corpor,,
ate name. property. both real n
~nersoi,al: to lend none! on security:
to name and appoint such of1cers ana
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 af-
fairs of said corporation as may oe
necessary and proper, n the same
to change and alter at pleasure, n
to do all such acts and things as are
or may be necessary and proper 10
carry out the objects and purposes OF
said corporation: and said corpora
ton. unless sooner dissolved under
the provisions of this charter. shall
exist for a period of ninety-nlne 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 aD-
sence of both these officers, upon the
secretary.
The object of this Association shall
he the accumulation of a fund from
the monthly instailments on account
of subscriptions to the capital, rentals,
nremiums and loans, the same so ac-
cumulated to he 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 the parish of Lafayette.
ARTICLE Nv.
The capital .f said corporation
shall be one milliDn dol. airs, and shall
be issued in shares, each represent
ing two hundred (S20O.00 No. 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 q
dividend 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.
br reason of the payments on account
OF the subscription thereto, together
With the addition of the profits and &C.
cumulatiOns thereon shall be worth
the par value of two hundred $500. 90,
dollars, each, the shares representing
the series so arrived at par shall b<
liuuidated 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 $500. 90.
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 IS determined
upon by the Board of Directors. The
Board of Directors shall have the
right when deemed advisable to issue
paid up stock on 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 o. he books Of
the Association. tbs lid up stock
may be called in ar { nc.l I'd at any
time by said ASS vi , s living
thirty days motto rey- upon
payment 1T n 'o-n plus &C.
crued inte-ea. lit. IL ed to the
address given W. en- sssock was issu-
ed or transferreds L -. ke sufficient, and
ill interest on said aid up stock SC
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
nrafte Of the Association. nor can