The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1915-09-04
IcAARrER OF BANK OF COMMERCE.
United States of America, State of Louis
lana, Parish of West Felciana.

the HOnIn OF august, IN the year OF Oh
Lord, One Thousand Nine Hundred an
Fifteen, and of the independence of tn
United States of America, the One Hun
Idredth and Thirty ninth, before me, Eu
|gene S. Muse, Notary Public, duly com
missioned and qualified. in and for tn
Parish of West Feliciana, State of Louis
llama, and in the presence of the wit
nesses hereinafter named and under
signed personally came and appeared tn,
lseveral persons, whose names and resi-
licences are hereunto subscribed, who de
iciared, that availing themselves of tn,
provisions of the laws of this State rela
tive to the organization of Banking Cor
operations, and the business of Banking
that they covenant and agree, and b,
these presents do covenant and agree t
bind themselves, as well as such othel
|persons as may hereafter become asso
lciated with them and their successors tt
form themselves into and ordain and es.
ttabfish corporation and body polite il
law, for the objects and purposes anC
under the agreement and stipulations fol
lowing, which they hereby adopt as theil
ICharter
| ARTICLE l.
| The name and title of this corporation
shall be The Bank of Commerce, and Its
ldomicile is hereby declared to be and is
established in the Town of ST. Francis.
lville, Louisiana.
| 1t shall use and have a corporate seal
circular in form, and containing the in
Cnriptipp trTba Of
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 OF
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 H.
The purposes for which this corporation
| is originated, the nature of the business
and the power and authority it shall ex-
ercise, are hereby declared to be, to re-
! ceive money on deposit and to pay the
same in current funds on checks of de-
posit; to discount, buy and sell proms-
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
valuables for safe keeping, on such terms
as may be agreed upon. To hold, receive,
| lease, pledge and convey personal prop
erty, both for it's own use and benefit and
| also and
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, Dollars, divided into
one hundred and fifty shares of the par
value of One Hundred ($10O,00) Dollars
each. Said stock shall be paid for in cash,
at the time of Incorporation.
ARTICLE w.
The business of said corporation shall
be conducted by and it's government and
direction shall be vested in a Board of
Directors, consisting of seven 60 persons,
each of whom shall be a bona fide holder
and owner during the time that he is act
ing as Director, or not less than one ~
of said Board of Directors shall constitute
la quorum.
The first Board of Directors to serve
under this Charter, shall consist of e. c.
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.
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 September and every
succeeding year. That said election shall
be held under the supervision of three (3)
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 stock holder 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 majority of
the votes cast shall serve as Directors for
the ensuing year.
In case there should be no election of
Board of Directors on the day thus ap-
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
First Vice President, and third for
Second Vice President, to hold office dur
ing 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 APP
point Cashier. and such other Officers,