The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1908-07-21
ACT OF INCORPORATION
OF THE
HOME BUILDING AND LOAN
ASSOCIATION.
STATE OF LOUISIANA,
Parish of Lafayette.

EDWARD ". OOrn1eS q uOtdry puOllC,
duly commissioned and sworn, in and
for the parish of Lafayette, State OF
Louisiana, and in the presence OF the
Witnesses hereinafter named and un.
dersigned, personally came and ap.
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
stipulations following, to-wit:
ARTICLE I.
The name and title of said corpora.
ton shall be s"The Home Building and
Loan Association" and under its
said corporate name, it shall have
power to contract: sue and be sued:
to make and use a corporate sea and
the same to break and alter at pleas
ure: to 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 al
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 q 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 ac-
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 the parish of Lafa vette.
ARTICLE w.
The capital Of s.id corporation
shall be one million dollars, and shall
be issued in shares, each represent
ing two hundred $500. COY 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,
by reason Of the payments on account
Of the subscription thereto, together
With the addition of the profits and &C.
cumnlatiOns thereon shall be worth
Tie par value of two hundred (e2OO. O0)
dollars, each, the shares representing
The series SO arrived at par shall be
and paid over to the hold
ero thereof. on the surrender of their |
ooFtiAcates; and whenever the shares
of tho series last issued shall be worth
dollars each, the Association shall be
xAsa&2A4AA A~v AA~AA A~--s1As~->-> l
leeted BY the Board of Directors from
lmong the shareholders. The shares
hall BE- issued Ia series 81 determined
lpon by the Board Of Directors. The
Hoard OF Directors shall have the
III when deemed advisable to issue
petd up stock on the payment at one
of 0pe hundred dollars.
Sid paid up stock shall be transfer
Ib3e In persNp or by written power of
lftorney, and NOnly on the books of /
b Association. This paid up stock
nAy b. called in and cancelled ct any
By said Association, after giving
hirty days notice to the owner, upon
Doyment of the book value, plus &C.
rued interest. Notice mailed to the
|ddross given when the stock was issu-
4 ar transferred shall be sufficient. and I,
Interest on said paid up stock SO
allied IN shall cease at the date OF re-
lemption given in said notice. The +,
older of said stock is otherwise en-
tiled to all rights in the Association j
= provided by the charter and by
BWs, except as to participation in the
ytO6ts OF the Association. nor can
leseOns holding such stock vote on
uch stock, nor q they in any case ,
euhembers of the Board of Directors. /.
~ said paid up stock shall draw In .
1rest at not more than six per cent ;
annum. and each Board OF Direct !
81 at its first meeting shall fix the :
~ Of interest to be paid on all such ,
eOck issued during the ensuing year. !
~ one of age and acting in their :
right and behalf shall have the )
q % ale application for such stock !
the secretary at any time, and !
~ application will be acted upon in ,
= 0rder OF its fling. The fiscal year
I'll end on the last day of each year.
ARTICLE v. b
corporase powers Of the Asso- :
Ia shall be exercised by eleven !
1norn. each of whom shall own not ,
than i've serial shares, who shall