The weekly Iberian. (New Iberia, La.) 1894-1946, 1912-07-06

per Slidi' f''i WttH
And the "Installmet1 4hg.
be hereafter issued, sH8f
for in weekly inslallmaH al#
least tWentv cents I5tee 4Hf#5
week, beginning Wiih taa fl
urday Of the mont h ot isstt4#lt,=
Paid up stock shall a. paid u#
full at the date Of it, issue
Minors, and married NGarH rH.l."
hold, subscribe for, ltaH t.6- ta
withdraw shares III TIA H.ia5f.5
prescribed ~ law.
On all shares pledged as 9d=I-
tiona. security for real e tlt, hun.
payments shall b imPdtsft
First; to fines and the r@iHi 0#az
mcnt OF monies paid for at[.u#4Ht- 81
share holders; 2nd, to the set6T*
m,nt of interest due; atd gsd ~
insaallmentS on shares; pr@s ita.#5
that the order OF Imput ltfaH H1F
be changed at The dis arEa aa
the Board of Directors
Whenever the srunun~ ehat
representing any seriea, sHaI
AEON OF payments Of t#eft ii
cents per share per Neek aHa
foundations Of profits, ~ @9Ht
the par value oi NO hundtt Jig
dollars each, and Whenever e1E=
stalImcnt shares shall rs r4~oG
of payments of not les thai5 &@0-
tv cents per shar" pc #tt I,s
worth tho par value oi or a4f=
drcd and thirty t~l3n dollar @aall.
all such shares shall be Il luftEated
as speedily as IS consistent Wi6E
the interest of tho Associations, and
the amounts due therefor pad oN-
er to the holders thereof upon thai
surrender Of the certificate OF In
stallment Books representing game.
The fiscal year Of the Assoeta-
ton shall end oA the last day oil
each year.
On January first and July first
of each year the officers Of the As
ISOLATION shall ascertain tn, earn
ings Of the Association for the pre-
ceding term, or since the last div
idcnd period, and out Of such earn
irgs they shall
1st, deduct all the expenses Of
the Association for such time;
End, set aside to the fund for CON
tingent losses such an amount as
they may deem best, which fund
shall be invested as directed by the
Board;
3rd, the balance Of sad earnings
shall be declared as a dividend to
the shareholders in 'proportiSu to
the value OF stock Of each member
at the time the preceding ylivid nd
was declared, and all payments
dds, shall begin to earn dividends
from the beginning of the next
dividend term.
Paid up stock is to receive a fix
ed rate of interest and is not to
Participate I'M dividends.
All dividends hereafter declared
under this amended charter, ON
"running shares and "Installmeni
shares" shall be considered antI
treated az cash dividends, and
" ithuraWablc in the same manner
as provided for the withdrawal OF
cash payments or installments;
Provided, however, that as re-
CARDS past dividends, any sharGr
holder owning cumming sharcJ
withdrawing after his series hj
been in operation one year, shay
receive as provided for in tht
charter prior to these amendmentd
of such dividends, only ten pei
cent. OF the dividend declared on
said shares for each year that they
have been in existence.
And the amount remaining in the
Association on account oil such
" ithdrawals of old stock shall be
credited TO unearned premium ac-
count, and the amount standing to
the credit of Contingent fund on
the books OF the Association on
January 1st, 1863, shall likewise be
I'd said fund, and which
fund may be used in the discretion
Of tho Board OF Directors for Off
setting unearned premiums, for
keeping down the maturity period
Of said running shares and foi
other purposes in connection with
such stunning shares"
The Board of Directors shall
have tho right, when deemed adj
to issue paid up stock on
the payments at one time OF one
hundred dollars. Said paid up |
stock shall be transferable in per-
son or by written power of attor-
new, and only ON the books OF the |
A association.
This paid up stock may be call
ID in and Cancelled at any time by
,aid Association, after giving thlr-
" days notice to the owner upon
payment of the face value, plus ac-
.rued interest. Notice mailed to
he address given when the stock
vas issued or transferred shall be
and all interest on sad
,aid up stock so called in shall
ease at the date of redemption
,iven in said notice.
The holders of Paid up stock are
otherwise entitled to all rights IN
he Association as provided by the
charter and Bylaws, except as 70
i'm the profits OF the
Association, nor can persons hoin-
ng such stock vote ON such stock
The said Paid up stock shall
raw interest at not more than SIX
,er cent. per annum, payable as
he Board of Directors may deter
nine, and each Board of Directors
t its first meeting shall fix the
ate of interest to be paid on az
uch stock issued during the ensu-
lg year.
Any one above the age OF twelve