The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1915-09-25
CHARTER OF BANK OF COMMERCE.
United States of America, state of Louis

Lord, One Thousand Nine Hundred and
Fifteen, and of the Independence of the
United States of America, the One Hun
dredth and Thirty ninth, before me, Eu-
gene s. 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
operations, and the business of Banking,
| that they covenant and agree and by
these presents do covenant and agree to
bind themselves, as well as such other
persons as may hereafter become asso-
ciated with them and their successors, to
form themselves into and ordain and es-
| tablish 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 l.
The name and title of this corporation
shall be The Bank of Commerce, and it's
domicile is hereby declared to be and is
established in the Town of ST. Francis
vile, Louisiana.
1t shall use and have corporate seal,
circular in form, and containing the in
scription, 1.-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-
ercise, are hereby declared to be, to re-
ceive 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
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 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 15,OOO.OO) Dollars, divided into
one hundred and fifty shares of the par
value of One Hundred ($1OO,OO) Dollars
each. Said stock shall be paid for in cash.
at the time Of incorporation.
ARTICLE "
! The business of said corporation shall
be conducted by and it's government and
Directors consisting of seven ID 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 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
September 1916 or until their successors in
office shall have been duly elected and
taken their place.
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 60
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 stakeholder 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 votes cast shall serve as Directors for
the ensuing year.
| In case there should be no election of a
Board of Directors on the day thus ap-
pointed, the election for the same shall
be held as soon thereafter as practical, on
day to be fixed by the Board of Direc-
tors, of which notice shall be given by
publication, as hereinafter provided for.
The Board CT Directors shall elect one
of their number for President, another for
First Vice President, and a 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 APT
point Cashier, and such other Officers
Attorneys-at law, Agents and Clerks, as
may he requisite and necessary for the