The weekly messenger. [volume] (St. Martinsville [i.e. St. Martinville] La.) 1886-1948, 1912-06-08

his or her shares until paid.
All foes of attorneys, aotaries, recorders, re-
pisters and all expenses incurred in making or
cancelling loans, shall be paid by the respec-
tive borrowers.
The Board of Dire ctors may make such rules
and regulations or bylaws to govern or advan-
ces on stock as they may see proper. provided
they do not conflict with this article.
ARTICLE VII.
Any shareholder who has received loan or
advance upon his share desiring to settle and
liauidate such indebtedness prior to the matu-
rity of the loan may do 30 either In pars or IN
whole under the condition and proportion pro-
vided for withdrawing shares, and their value
credited in part payment OF said Indebtedness.
Any part. payment under this article shall Do
credited upon the borrowers note In the sum OF
One Hundred Dollars for each share redeemed
from. pledge, and thereafter Interest shall be
paid only on the reminder OF said note; and II
desired the mortgage bearing upon the property
shall be reduced prOpOrtionateiy'
ARTICLE VIII.
Shareholders not having pledged their shares
to the Association; who owe nothing upon their
shares may withdraw from the association by
giving ~ days notice in writing to the Secretary,
when said shareholder, on surrender OF his GER
titicate, shall be refunded all tn, payments ON
account of weekly instruments on shares made
by him, less any unpaid fines or charges and q
prorata of the current years losses II any up 10
| the date of said notice. Each written notice OF
| withdrawal shall be numbered and registered
| by the Secretary in the order of their receipts
and Withdrawing shareholders shall be paid In
rotation, as registered out Of the unapprOpriated
moneys in the treasury.
| On the death Of any shareholder. whose share
is not pledged to the association, his or her le-
gal representative shall be entitled 10 receive In
cash the withdrawal value Of the share at the
time of the last pay ment made by such deceased
| shareholder, or said representative shall be en-
titled to either transfer said shares to others, or
to continue the same by payment OF the weekly
l ,nstalments; provided that said shares he re-
deemed or transferred or, notice given OF con-
tuueing it, within six months next following
such death, and in de fault OF action within that
time said share and all accommodations thereof
shall cease to participate in the profits without
further notice and shall be payable to the legal
representative of the deceased ~ days after Az
plicatiOn.
ARTICLE TX.
No shares shall be transferred except on the
books of the Association, in the presence of the
, Secretary upon the surrender of the certificate
therefor; provided no shares in arrears can be
, transferred. aud the person " whom the shares
| are transferred shall accept the bylaws in like
manner rs any original member. For each share
80 surrendered there shall be paid Is cts to the
Secretary to be credited to the Association.
. ARTICLE X.
. I Special meetings of the shareholders shall be
convened at the request in writing of ten share
n holders, stating time and object Of such meet
ing
ARTICLE XII.
| No shareholder shall ever be held liable or re-
sponsible for the contracts or faults of the As
d ISOLATION in any further sum than the amount
of his indebtedness to the association; nor shall
;, any mere informally in the organization have
IS the effect of rendering this act NULL or exposing
It a shareholder to any liability beyond the amount
r of his or her shares.
= ARTICLE XII.
a This act ,of incorporation can be altered,
" amended and modified by a vote Of three fOurths
e of the capital subscribed present represented
n at a general meeting convened for that purpose,
N or the Association dissolved by q vote of two
r thirds of the capital subscribed. at general
le meeting convened for that purpose alter ten
IF days notice by the Secretary, by mailing same.
IN Provided that the capital shall not increased
e; unless majority of the shares represented at
l. special shareholders meeting convened for such
ID purpose shall vote in favor of such be increase
or nor until such notice be given and such publi-
o. cation be made and such fOrmalities complied
at with as are or may be required by law.
n In faith whereof said appeareFs have signed
st their names together with Messrs d. BrOussard
in and Locke Pellerin competent witnesses and
a. me Notary, ON the date fret above written. in
n the town of Breaux Bridge, Louisiana. after dus
k reading hereof.
il JOS. w. BEGNAUD. President
er &C. REEFS, Secretrry
n Witnesses: d. BROUSSARD
il LOCKE PELLERIN.
IL. BEGNAUD. Notary Public
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