The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-01-02

hNAStoAOAS III LA WCSAHy
stallments of twenty five cents pei
share per week.
And the "installment shares" to be
hereafter issued, shall be paid for in
weekly installments Of at least twenty
cents per share per week, beginning
with the first Saturday Of the month
of issuance.
Sec. paid up stock shall be paid
up in full at the date of its issue.
Sec. 4.-M13ors, and married women
may hold, subscribe for, transfer. and
withdraw shares in the manner pre-
scribed by law.
Sec. On all shares pledged as ad-
,ditional security for real estate loans,
pay ments shall be imputed. First: to
fines and the reimbnrsem of monies
paid for account Of shareholders; 2nd,
to the settlement of interest due; and
3rd. to installments on shares; p'ovid-
ed. that the order of imputation may
be changed at the discretion OF the
Board of Directors
Sec. Whenever the "runni ng
shares" representing any series, shall
by reason Of payments of twenty five
cents per share per week and accumu-
lations of profits, be worth the par
value of tw" hundred 5000 dollars
each. and whenever Inst llment
shares shall by reason Of payments
of not less than twenty cents per share
per week be worth the par value OF
one hundred and thirty $500 dollars
each. all such shares shall be liquidat-
ed as speedily as is consistent with the
interests Of the Association, and the
amounts due therefor paid over to the
holders thereofupon the surrender Of
the certificate or Installment Books re-
presenting same.
Sec. THE fiscal year of the Associ-
alton shall end on the last day Of each
year.
Sec. On January first and July
first of each year the officers of the
Association shall ascertain the earn
ings OF the Association for the proceed.
ing term, or since the last dividend !
period, and out of such earnings they
shall
lst, deduct all the expenses Of the
Association for such time;
Ind. set aside to the fund for contin-
gent losses such an amount as they
may deem best. which fund shall be
invested as directed by the Board;
3rd, the balance ofsaid earnings shall
be declared as dividend to the share
holders in proportion to the value Of
stock of each member at the time the
preceding dividend was declared, and
all payments made between such divi
dend periods, shall begin to earn div
idends from the beginning of the next
dividend term.
Paid up stock is to receive fixed
rate of interest and is not to participate
10 dividends.
Sec. 9.-All dividends hereafter de-
dared under this amended charter, on {
running shares" and "installment
'hares." shall be considered and !
reated as cash dividends. and with {
Ia the same manner as pro- G
'ided for the withdrawal Of the cash I
payments or installments;
Provided, however. that as regards Q
'ast dividends. any shareholder own e
ny running shares" Withdrawing af-
err his series has been in operation one
ear. shall receive as provided for in
he charter prior to these amendments,
fsuch dividends, only ten per cent. y
fthe dividend declared on said shares q
Or each year that they have been in L
xistence. r
And the amount remaining in the G.
on account of such with y
of old stock shall be credited G
, unearned premium account. and 9
ne amount standing to the credit of u
OntinRent fund on the books of the
ssociation on January LIST. 1909, shall \,
kewise be credited to said fund. and %
hich fund may be used in the discre- e.
on of the Board of Directors for off c.
citing unearned premiums, for keep y,
e down the maturity period Of said 7,
running shares" and for other pur- "
0ses in connection with such "runn-
e shares" N
Sec. lO.-The Board of Directors shall B.
ave the right, when deemed sdvis- 40
de, to issue paid up stock ON the
lVm0nt at one time IF ono hmndrod
'llars. Said paid up stock shall be sa
miserable In person or BY written al
'wer OF attorney, and only on the
'oks of the Association.
This paid up stock may be called in
ID Cancelled at any time by said Assoc m
alton, after giving thirty days notice ~
the owner upon payment of the ~.
&c value, plus accrued interest. -
,tice mailed to the address given
hen the stock was issued or trans fiy
rred shall be sufficient, and all in -
rest on said paid up stock so called in
all cease at the date of redemption -
ven in said notice. eli
The holders of Paid up stock are In
herwise entitled to all rights in the pc
ISOLATION as provided by the Charter sh
q ny. Laws, except as to participa- m,
% in the profits of the Association,
+ can persons holding such stock %
te on such stock, nor can they in ha
case be members of the Board of sin
rectors. 81;
The said Paid up stock shall draw fl,
crest at not more than six per cent. ~.r
: annum, payable as the Board of -
rectOrS may determine. and each