The weekly Iberian. (New Iberia, La.) 1894-1946, 1909-01-09

stallments Of twenty five cents pc
share per week
And the 'installmcnt shares" to b,
hereafter issued, shall be paid for il
weekly installmcnts Of at least twenty
cents per share per week, beginnin,
with the first Saturday OF the mon,l
Of issuance.
Sec. ;. Paid up stock SHALL be pait
up in full at the date of its issue.
Sec. 4.-Ml:ors. and married womer
may hold. subscribe for, transfer, ant
withdraw shares in the manner pre-
scribcd by law.
Sec .. On all shares pledged as al
ditional security for real estate loans
pay men,s shall be imputed. First tt
fines aad the reimburse ment Of monies
paid for account OF shareholders; md
to the settlement Of interest due: and
.5rd. 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 "runniny
shares representing anv 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 "installmcnt
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 (&l3O) dollars
each. all such shares shall be liqudat-
ed az speedily M il consistent with the
interests Of the Association, and the
amounts due therefor paid over to the
holders thcrcofupon the surrender Of
the certificate or Installmcnt Books re
presenting same.
Sec. The fiscal year Of tie Associ-
alton shall end on the last day Of each
year.
Sec. S-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
LIST, deduct all the expenses Of thu
Association for such time;
Ind. yet aside to the fund for contin-
uNnt 1nauoo uucI ~ o,,D..cx "a. xLo.
may deem best. which fund shall be
invested rs directed by the Board;
3rd, the balance ofsa,d earnings shall
be declared as a 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, sLall 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
in dividends.
Sec. 9.-All dividends hereafter de-
clared under this amended charter, on
running shares" and "installment
shares" shall be considered and
treated as cash dividends and with
irawable in the same manner AZ pro-
pided for the withdrawal Of the cash
o. installments;
Provided, however. that as regards
past dividends. any shareholder own
nR running shares" withdrawing af
er his series has been in operation one
rear. shall receive as provided for in
he charter prior to these amendments,
'fsuch dividends. only ten per cent.
# the dividend declared on said shares
or each year that they have been in
Existence.
And the amount remaining in the
association on account of such with
rawals Of old stock shall be credited :
o unearned premium account. and .
he amount standing to the credit of I
fund on the books of the
association on January LIST, 1909, shall
kewise be credited to said fund, and
hitch fund may be used in the discre. G
ION of the Board of Directors for off c
citing unearned premiums, for keep. ]
* down the maturity period OF said !,
shares" and for other pur-
0ses in connection with such "runn-
,g shares" n
Sec. lO.-The Board OF Directors shall I
ave the right, when deemed sdvis- A.
bic, to iseue paid up stock on the
ayment at one time Of one hundred
pillars. Said paid up stock shall be 81
in person : ~ written a
over Of attorneyy, and only on the
,oks Of the Association.
This paid up stock may be called in
ID cancelled at any time by said Assoc n
alton, after giving thirty days notice u
the owner upon payment Of the !,
ce value, plus accrued interest. y
office mailed to the address given
hen the stock was issued or trans Fl
rrcd shall be sufficient, and all in u
rest on said paid up stock so called in !,
all cease at the date of redemption ..
ven in said notice. ei
The holders OF Paid up stock are ~
herwise entitled to all rights in the p'
'sociatlon as provided by the Charter 81
d By. Laws, except as to participa. m
n in the profits Of the Association, :,
r can persons holding such stock %
te on such stock, nor can they in hi
y case be members of the Board OF si
rectOrs. 90
The said Paid up stock shall draw ia
terest at not more than six per cent. 70
T annum, payable AZ the Board OF
rectors may determine. and each
ard of Directors at its first meeting co