The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1915-09-11
CHARTER OF BANK OF COMMERCE.
United States of America. State of Louis


the month of August, in the year of ou
Lord, One Thousand Nine Hundred ant
Fifteen, and of the independence of tn,
United States of America, the One Hun.
dredth and Thirty ninth, before me- Eu
gene 5. Muse, a Notary Public, duly com.
missioned and qualified, in and for the
Parish of West Feliciana, State of Louis
lana, and in the presence of the wit
nesses hereinafter named and under
signed, personally came and appeared the
several persons, whose names and resi-
dences are hereunto subscribed, who de-
clared, that availing themselves of the
provisions of the laws of this State, rela-
tive to the organization of Banking Cor
poratons, and the business of Banking,
that they covenant and agree, and by
these presents do covenant and agree ia
bind themselves, as well as such other
persons as may hereafter become asso-
clated with them and their successors to
form themselves into and ordain and es-
tabiish corporation and body polite in
law, for the objects and purposes and
under the agreement and stipulations fol-
lowing, which they hereby adopt as their
Charter
ARTICLE /.
The name and title of this corporation
shall be The Bank OF Commerce. and its
domicile is hereby declared to be and is
established in the Town of st. Francis
vile, Louisiana.
1t shall use and have a corporate seal,
circular in form, and containing the in
scription, THE Bank of Commerce, st.
Francisville, La" which seal may be al
tered or changed at the pleasure OF the
Board of Directors of this corporation.
The President, or in his inability or
absence, the First Vice President, or in
his absence or inability or in the absence
or inability Of both, the Cashier of said
Bank is hereby designated as the officer
upon whom citation or other legal process
shall be served.
ARTICLE II.
The purposes for which this corporation
IS originated the nature of the business
and the power and authority it shall ex-
arcise, are hereby declared to be, to re-
eeive money on deposit and to pay the
same in current funds on checks of de-
post; to discount, buy and sell promis-
sorry notes and bills of exchange and other
evidences OF debt; to buy. hold and sell,
stocks, bonds, gold and silver bullion and
foreign coins; to receive securities and
for safe keeping, On such terms
as may be agreed upon. To hold, receive,
ease, pledge and convey personal prop
erty, both for it's own use and benefit and
also as agent and trustee. To acquire,
lold and convey, real estate for the pur-
poses and objects expressly allowed by
aw, and subject to the limitations i'm
posed by law To lend money on personal
)r other proper legal security, at legal
rates of interest, and to exercise all
powers, necessary or incidental to the
business of Banking.
ARTICLE Ill.
The capital stock of the corporation
hereby organized, is fixed at Fifteen
Thousand (s15,O0O,O0) Dollars, divided into
me hundred and fifty shares of the par
'alue of One Hundred ($100.0O) Dollars
each. Said stock shall be paid for in cash,
1t the time of incorporation.
ARTICLE ".
The business of said corporation shall
De conducted by and it's government and
direction shall be vested in a Board of
Directors, consisting of seven "a persons,
Zach of whom shall be bona fide holder
md owner, during the time that he is act
ng as Director, or not less than one %
share of the capital Stock and a majority
If said Board of Directors shall constitute
| quorum.
The first Board of Directors to serve
lnder this Charter shall consist of E. G.
Davis, L. w. Rogers, Cheston Folkes
". R. Daniel, Max Dampf, Geo. l.. Plet-
niger and w. E. Wood, of whom E. G.
Davis shall be President, and L. w.
Rogers Vice President, and said officers
ind Directors shall hold office until the
irst Tuesday after the first Monday in
January 1915, or until their successors in
office shall have been duly elected and
aiken their place.
That the election of Directors shall be
held annually, by ballot, by the stock
FOLDERS thereof, on the first Tuesday after
he first Monday of September and every
succeeding year. That said election shall
,e held under the supervision of three (3)
Commissioners appointed by the Board of
Directors and taken from the stock
folders of said corporation. That notice
# said election shall be given in local
newspaper, each week, for four weeks
lext preceding the date of said election,
ind each stakeholder shall be entitled
lirectly or by proxy to one vote for each
share of stock recorded in his or her
seven ~ persons receiving a majority of
he votes cast shall serve as Directors for
he ensuing year.
In case there should be no election of a
Board of Directors on the day thus APP
pointed, the election for the same shall
,e held as soon thereafter as practical, on
/ day to be fixed by the Board of Direc-
ors, of which notice shall be given by
as hereinafter provided for.
The Board of Directors shall elect one
# their number for President another for
FIRST Vice President, and third for
second Vice President. to hold office dur
ng the term of said Board making the
election.
In case of vacancy in said Board of Di-
ectors or in The office of President or
lice Presidents the same shall be filled
~ the remaining members of said Board,
he newly elected Director or Directors or
officer to hold for the unexpired term of
he Directorate.
The said Board of Directors shall APP
,oint a Cashier, and such other Officers.