The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1915-08-28

erty, both for its own use and benefit and
also as agent and trustee. To acquire,
hold and convey, real estate for the pur-
poses and objects expressly allowed by
law, and subject to the limitations i'm
posed by law. To lend money on personal
or other proper legal security at legal
rates Of interest, and to exercise all
powers. necessary or incidental to the
business of Banking
ARTICLE III.
The capital stock of the corporation
hereby organized, is fixed at Fifteen
Thousand (s15. 100000 Dollars, divided into
value Of One Hundred (Sl00.0O Dollars
each. Said stock shall be paid for in cash,
at the time of Incorporation.
ARTICLE w.
The business of said corporation shah
be conducted by and its government and
direction shall be vested in a Board of
Directors, consisting of seven % persons,
each Of whom shall be bona fide holder
and owner, during the time that he is act
| ing as Director, or not less than one a.
share of the capital stock. and a majority
of said Board of Directors shall constitute
a quorum.
The first Board of Directors to serve
under this Charter shall consist of E. G.
Davis, L. W. Rogers. Cheston Folkes,
! w. R. Daniel Max Dampf, Geo. L. Plet-
finger and w. E. Wood. of whom E. G.
Davis shall be President, and L. w.
Rogers, Vice President and said officers
and Directors shall hold office until the
| first Tuesday after the first Monday in
January 1916 or until their successors in
office shall have been duly elected and
taken their place.
1 That the election Of Directors shall be
held annually. by ballot by the stock
holders thereof, on the first Tuesday after
the first Monday Of January and every
succeeding year. That said election shall
be held under the supervision of three 90
Commissioners appointed by the Board of
Directors and taken from the stock
holders of said corporation. That notice
of said election shall be given in local
newspaper. each week, for four weeks
next preceding the date of said election.
| and each khoider shall be entitled
directly or by proxy to one vote for each
share of stock recorded in his or her
name on the books of the Bank. The
seven CD persons receiving a majority of
the ensuing year.
In case there should be no election of
Board of Directors on the day thus APP
| pointed, the election for the same shall
be held as soon thereafter as practical. on
a day to be fixed by the Board of Direc-
tors, of which notice shall be given by
publication, as hereinafter provided for.
| The Board of Directors shall elect one
of their number for President, another for
Second Vice President, to hold office dur
ling the term of said Board making the
election.
In case of vacancy in said Board of Di-
rectors or in the office of President or
Vice Presidents, the same shall be filled
by the remaining members of said Board,
the newly elected Director or Directors or
Officer to hold for the unexpired term of
the Directorate
The said Board of Directors shall ap-
Ipoint Cashier, and such other Officers.
| AttOrneyS-at-LdW, agents anu clerks, as
may be requisite and necessary for the
business of the Bank and shall also fix
the compensation for all of the Officers,
Attorneys at law, Clerks, Agents or en-
ployees of the Bank. All persons appoint
ed by the Board of Directors as above set
forth. shall hold their positions at the
pleasure of the Board.
The Board of Directors shall have the
power to adopt rules and regulations for
the proper government Of the ank and the
| transaction OF its business. and to alter
the same at pleasure, provided the same
be not contrary to the laws Of this State,
nor of this Charter.
The Board shall have the authority to
fix the time and place of its meetings and
the notice to be given thereof. The Board
shall have authority to delegate its Agents
and Employees of the Bank or to desig-
nate Committees OF the Board, such
powers as they may think proper and
lexpedient.
| ARTICLE v.
Books for the registry and transfer of
lshares of capital stock shall be opened;