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

4. become due and cxigible, legally. Us
Z said Association. and the right ~ ~
cclosure shall innrc to said Associu
y ton, provided that the payment 4
= full within thirtydays after said motto,
OF all said amounts and arrearages
hereinabove mentioned shall reinstate
said stool in good standing.
, Sec Said notice of arrearaKe
= shall be given by letter deposited ia
the Post Office at New Iberia, nddrc- (.
ell to the stock holder ut his usual plIcr
OF residence; or if this has not been
made known to the Secretary in writ
iberia, La
Sec. 4 In case OF foreclosure the
the stockholders account and loan
shall be credited with their Withdraw
al value.
That Article VIII of the churtct ol
said corporation ny amended shall he
and is amended to read ~ follows
ARTICLE VIII
Sec. Amy stakeholder who has
received IA loan or advance npon his
shares as loan on real estate secu,i
~. desiring to settle and liquidate
such Indebtedness prior I" the maturi-
~ Of the stock and loan, may do 50
| nft hnr in NnrtN h.,i Ga
| to wit
LIST. If the loan was made with
premium or a discount on running
shares" by paying the net amount Of
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 IL
desired. the pledged shares may be
surrendered to the Association aud
Cancelled under the conditions and IN
the proportion provided for withdraw
ing unpledged running shares and the
value credited ia part payment Of said
Indebtedness.
And. I'd. Ifthc loan was made on
"Installmen. Shares" the borrower
shall he privileged to reduce or liquid
ate the loan by repaying the difference
between the amount received on each
share and the book value on such
share. or by impnting the total pay
ments TO the payment Of one or more
shares whenever such payments
amount to One hundred and thirty
($lbO.Wl dollars, or any multiple
thereof. Withdrawing and canceling
sucl, share or shares. thereby reducing
the weekly payments OF installments
and interest.
That article TX Of the charter Of
said corporation as amended shall be
and Is amended to read AZ follows:
ARTICLE
Sec. l.-Shares, not pledged to the
Association. may DO withdrawn BY
giving thirty days notice IN writing to
the president, when the shareholder,
on surrender Of his certificate. shall he
refunded all payments on account Of
said shares. and. in addition, all div
idends earned by said shares. less any
unpaid charges. and q pro rata Of the
current years lOrses. II any up to the
date Of notice Of withdrawal.
Sec. Such written notices OF with
drawal shall be registered and num-
bered by the secretary il the order Of
their receipt. and withdra wing share.
holders shall be paid in rotation, as
registered. ont Of the first unappropri
ated money in the treasury: provided
that not more than half the monthly
receipts shall ever be used for the pur-
pose Of liquidatinR Withdrawn or ma.
nj al, -.
over accumulation OF funds.
Sec. 3-The Board shalt have the
right. in their discretion, to coll In any
nnpledged shares for redemption, said
shares to be redeemed Mt their with.
drawal value plus interest at the rate
p six ~ per cent. per annum thereon
Tor the time intervening since the date
Il their last dividend.
Sec. 4.--On the death of anv share.
holder whose shares are not pledged TO
he Association. the legal Representa-
I've Of said stakeholder shall be Gu
tiled TO receive In cash the withdraw
u value Of the shares mt the time Of
he last payment by such deceased
less any unpaid charges,
Ind pro rata of the current years
Osses, II any. up to the time OF said
asst payment; or said rePrese ntxtive
hall be entitled to either transfer said
hares or to continue same by payment
4 the weekly installments; provided,
hat said shares shall be redeemed or
or notice given cf their
within SIX months next
snch death, and in default OF
ctiOn within that time said shares
hall be subject to the penalties and
reatment AZ provided IN Article VII.
That article XIV be added to the
harter to read as follows:
ARTICLE XIV.
The foregoing articles, and bylaws
rules thereunder. are hereby made
, operate upon and govern any and
II business done, and transactions had
this Association previous to this
mended charter; and shall be con.
dered a. part Of any contract between
,is Association and its members: pro.
lded, however. that nothing herein
'ntained shall lie construed az i'm.
airing, abridging or changing In any
anner any rights heretofore acquired
ID now IN force by holders or run.
Ing shares. either an 10 the mode Of
ayment. whether Of installments or
terest, Withdrawals, right 10 share
dividends. and liquidation OF loans.
Thus done and passed NJ nv Office in
'e Town OF New Iberia, Parish of
ouisiana, on the day, month and
:ar first above written in the pres
zee Of Messrs. William Bauman an
Tn