St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1911-02-25
AMENDMENT TO CHARTER.
State of Louisiana,
Parish of ST Tammanv

Be it known, that on this, the 1 18th
day. of January, 1911, before me,
Lewis L. Morgan, a notary public,
In and for the parish of St. Tam
many, State of Louisiana, and in the
presence of the witnesses hereinafter
named and undersigned, personally
came and appeared first, H. J. Smith
president, and Thos M. Burns, sec
rotary, of the Peoples Building and
Loan Association, who declared that
general meeting of the stockhold-
ers OF the said Peoples Building and
Loan ASSOCIATION was convened at
their office in the town of Covington.
La, on the Sd day of January, 1911,
after due notice of said meeting had
been given publication in the St.
Iammany Farmer, newspaper pub
llshed in the parish of st. Tammany,
La, for and during ten (10) con-
tluous days preceding said meet
ing; that said notice set out the
said purpose and object Of said
meeting; that the same had been
called to determine whether or not
the charter of said corporation
should be amended by reducing the
number of board of directors of said
corporation from eleven (11) stock
holders to seven ca stockholders.
That on the above date, the meeting
convened and there was present or
represented more than two-thirds of
the capital stock of said corporation,
and by a vote of more than two
thirds of the capital stock, Article v
OF this charter of the said Peoples
Building and Loan Association, was
amended SO as to read as follows:
ARTICLE v.
All the powers of this corporation
shall be exercised by board of di-
rectors composed of seven stock
holders; said directors to be elected
at a general meeting convened for
that purpose on the first Tuesday
of January, each year, commencing
on the first Tuesday in January,
1912; notice of such meeting shall
be published in a newspaper of st.
Tammany and Washington Parishes,
for the space of ten days Immediate
ly preceding said election; said cleo
ton shall be by ballot at the domicile
of this corporation under the super
vision of three commissioners, stock
holders appointed by the board of
directors at the last preceding meet
ing; each share of stock is entitled
to one vote, and the stockholders
receiving a majority of the votes
cast shall be elected; failure to hold
an election on the day specified shall
not dissolve this corporation, but the
directors in Office shall hold power
until n1nofi0r, ha hold Of &oy,
days notice of the time and place |
thereof; the directors shall elect |
from their number president and !
a vice president; majority of the |
directors shall be quorum for the |
transaction of business; all vancan-
cies shall be filled by the remaining
members of said board of directors;
the directors shall select and appoint !
a secretary, a treasurer, an attorney
and a notary and such other officers
as shall be necessary, but no salary |
shall be paid except to the secretary;
the directors shall have power to !
make bylaws, to select place of |
meeting, to suspend any and all Of !
ficers; and have general authority |
to carry out the objects and business |
of the association, but they shall not |
have power to purchase real estate !
except for cash, nor contract any
in excess of amount of |
cash ON hand. The following named |
persons shall constitute the board |
Of directors to serve until the regu-
lar meeting in January, 1912, or !
until their successors are elected, to-
wit: H. J. Smith, J. S. Jones, M. |
P. blanche, CASTOR Galmiche, Thos. |
NJ. Burns, C. V. Guave and Paul J.
Laborde.
Thus done and passed in my Office |
in the town of Covington, Parish of |
st. Tammany Louisiana, the day,
month and year first above written,
IN the presence of w. E. Blossman
and Walter Galatas, who hereunto
signed their named with the appear
ers and me, said notary, after dze
reading of the whole.
H. J. SMITH, President.
THOS. M. BURNS, Secretary.
LEWIS L. MORGAN,
Notary Public.
Witnesses: