The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1908-08-04

loan or On MS SHARES, UcSlT-
ing to settle and liquidate such Adebt-
edness prior tt the maturity of the
loan, may do so either in part III or
whole, by paying the net amount cash
received on each share. plus one eighth
of the discount bid for same for each
year or fraction of year that said
shares have been in existence, and if
desired the pledged shares may be
surrendered to the Association and
cancelled under the condition and in
the proportion provided for withdraw
ing unpledged shares, and their value
credited in part payment of said in
debtedneSS.
ARTICLE TX.
Shareholders not having pledged
their shares to the Association, who
owe nothing On their shares, may
withdraw from the Association by
giving thirty days notice in writing to
the president. when said shareholder;
on surrender of his certificate, shall
be refunded all the payments ON ac-
count of weekly inStallmentS on shares
made by him, less any unpaid fines or
charges and a prOrata of the current
years expenses and losses. if any, up
to the date of his notice: provided
that a shareholder withdrawing after
his shares have been in existence over
one year, shall receive, in addition to
the above, ten per cent OF the profits
on said shares for each year they
have been in existence. Each written
notice of withdrawal shall be register
ed and numbered by the Secretary in
the order of their receipt, and with
drawing shareholders shall be paid
in rotation, as registered. out OF the
first unappropriated moneys in the
treasury.
On the death of any shareholder,
whose share is not pledged to the AS
ISOLATION, his or her legal represent
atlves shall be entitled to receive in
cash the withdrawal value of the share
at the time of the last payment made
by such deceased shareholder, less
any unpaid fines or charges; Or said
representative shall be entitled to
either transfer said shares to others,
or to continue the same by payment OF
the monthly installment: provided the
said share be redeemed or transferred,
or notice given of continuing it, with
in six months next following such
death, and in default of action within
that time, said share and all accumu-
lations thereon shall become for
feited and eve to and become the
property of the Association, without
further notice. e
ARTICLE X.
No share shall be transferred except
on the books of the Association. in
the presence of the Secretary. upon
the surrender of the certificate therefor;
provided no shares in arrears can be
transferred; and the persons to whom
the shares are transferred shall sign
the bylaws in like manner as any
original member.
For each share SO transferred there
shall be paid twenty-five cents to the
Secretary, to be credited to the Asso-
citation.
ARTICLE XI.
Special meetings of the shareholders
shall be convened at the request IN
writing of ten shareholders, stating
the time and object of such meeting.
ARTICLE XII.
No shareholder shall ever be held
liable or responsible for the contracts
or faults of this Association in any
further sum than the amount of his
Indebtedness to the Associations; nor
shall any mere informality in Organi-
cation have the effect of rendering this
act null, Or of exposing of a share.
holder to any liability beyond the
amount of his Or her share.
ARTICLE XIII.
This act of incorporation can be
altered, amended and modified by a
vote of three fourths of the shares
present or represented, at a general
meeting convened for that purpose,
or the Association dissolved by
a vote of twO-thirds of the capital
subscribed, at q general meeting
convened for that purpose after
after ten days notice by the Secretary
by mailing same; provided the capital
OF the Association shall not be in.
creased unless a majority of all the
shares in force vote in favor of such
increase, nor until such notice be
given and such publication be made
and such formalities complied with as
are, or may be required by law.
ARTICLE XIV.
Except in cases provided for by article
thirteen of the Charter, each holder OF
serial stock, present or represented by
written proxy, shall be entitled to
vote in all elections, and on all mat
ters and on ell questions coming be-
fore the Association, as follows, to-
wit: one serial share up to five ex-
elusive, he may est m vote, from
five up to ten exclusive, he may cast
two votes, from tr shares up to
twenty exclusive, he may cast three
votes, from twenty shares and over he
may cast four votes. But the holding
OF paid up stock shall not entitle the
said holder to any vote whatever upon
any question Or election whatever in
said Association. Shares of stock is
sued or transferred within sixty days
next preceding any election shall not
be voted or represented at such cleo
ton.
ARTICLE XIV.
The first Board of Directors is here
by constituted of the following share
holders, to-wit:- Jules Goldsmith,
Clifton 1. Young, o. B. Hopkins,
| Charles o. Mouton, Joseph P. COlOmb,