The Ocala evening star. [volume] (Ocala, Fla.) 1895-1943, 1914-01-05
COPY OF THE PROPOSED CHARTER
OF FLORIDA TITLE n TRUST
COMPANY


we. the undersigned, hereby assoc
ciate ourselves together for the purpose
of becoming incorporated under the
laws of. the state of Florida applicable
to corporations for profit.
ARTICLE 1.
Name
The name of this corporation shall
be Florida Title and Trust Company,
and its principal place of business
eoanty De Florida ida but It may establish
Offices ard branches in such other
place or places as it shall deem desir-
able in the conduct of it's business
ARTICLE II.
business
The general nature of the business
TO be transacted by this corporation
shall be to make and sell ABSTRACTS or
title to lands. to issue title ceruhcates
and title guarantee policies, ana TO t n9
necessary to such title and abstract
work; to act as agent of the owner IN
the renting, selling, general care and
handline of real estate and personal
property; TO loan its own funds ana 10
act as agent of others Tor the ioanlhs
of funds upon real and personal prop-
nerty and as such agent TO charge
and collect commissions for such SER
vices; to act as trustee under mort
cages and deeds of trust or either real
or personal property, and TO execute
and deliver release thereon. ana 90
and perform all other duties of such
trustee; to act as trustee, assignee, or
receiver for persons, o-partnerships'
corporations or estates, either by IN
dividual appointment or by order or
court. and to be vested with all the
mowers and authority conferred upon
such officer by law or otherwise; to
buy, sell or lease and deal in real ana
personal property, and to mortgage
the same: to deal in bonds, stocks ana
mortgages; to purchase its own pre-
ferred stock and retire the same, and
to reissue same as needed; to buy or
lease abstract plants and equipment,
and pay for same either in cash or IN
the stock of the company
ARTICLE III.
Capital Stock
The amount of ca pital stock of this
corporation shall be ONE HtNDRED
THOUSAND (S100. 000) DOLLARS, d.
vided into one thousand shares OF the
par value of one hundred dollars eacn,
payable in cash or property, laoor or
services at a just valuation thereoI %
he fixed by the board of directors at 2
meeting called for such purpose. of
the one thousand shares OF stock, nVe
hundred shares shall be preferreT
stock and five hundred shares snail oe
common stock The preferred stock
shall receive from the net earnings q
the company an eight per cent annuaI
cumulative dividend before any, divid-
end is paid upon the commoffZ~ssesN
Out of any remaining net earnings the
preferred stock and the common stoeF
shall each receive equally up to~a foQl
per cent additional dividend. and any
additional net earnings shall tbeAone
entirely to the common stock. but the
common stock shall not receive IN any
one year a dividend in excess of eight
per cent until there has been Great TED
and thereafter maintained a surplus
net earnings fund equal to eight pei
cent on all issued preferred stock. The
corporation shall have the right after
FIVE years from the date of rs incor.
poration TO retire any or all of the out.
standing preferred stock by paymen
to the owner thereof the par value o.
such stock plus ten per cent . Tbs
corporal TONS intention TO retire any o.
all Of the said preferred stock shall bs
evidenced by its written notice of sucf