The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1916-12-30

Their amended on the 4th day of August,
1906.
Who declared that, at a meeting of
the stockholders of the st. Mary Build
ing Association, held at its domicile in
the Town Of Patterson. St. Mary Parish.
La, on the Goth day of November, 1916
for the purpose of considering the
| amendment Of the charter of said cor
poration, held after due compliance of
all of the provisions of law and the re-
poration, the charter of said corpora
ton was amended by the vote of each
and every stakeholder present or rep
resented at said meeting;
And the said A. H. Thompson and J.
E. Lassus further declared that, at said
meeting, they were authorized and d.
rected to appear before some competent
Notary Public. commissioned and quail
fled within and for the Parish of st.
Mary. La, to execute the proposed no.
tarial act and declaration of the amend
ment of the said charter, as required by
law, for the purpose of affording au-
thentic evidence and permanent record
thereof.
Wherefore, the said appearers de-
clared, in pursuance of the authority
thus conferred on them, that, at the
said meeting held on the 10Th day of
November, 1916 the charter of the st.
Mary Building Association was amend
ed 30 as hereafter to read and be, as fol-
lows:
ARTICLE l.
Exercise of Corporote Powers.
The name and title of the corporation
shall be aud is 1.-THE ST. MARY BUILD
ING ASSOCIATION" and under it's corpO-
rate name it shall have power to con-
tract, sue and be sued; to make and use
corporate seal and the same to break
and alter at pleasure; to hold, receive,
lease, purchase, convey, mortgage and
hypothecate under it's corporate name
property both real and personal; to lend
and borrow money on security; to name
and appoint such. Officers aud agents as
the interest and convenience of the cor
pOratiOn may require; to make and es-
tablish such bylaws, rules and regula-
tons for the proper management and
regulation of its airs as may be neces-
sary and proper. and tho same to change
and alter at pleasure, and to do all such
acts and things as are or may be proper
and purposes; and said corporation I'M
less sooner dissolved, in accordance with
its charter, shall exist for and during
ninety -nine years from March 5th, 1894.
ARTICLE 2.
Domicle and Citation
The domicile of said corporation shall
be in the Town of Patterson, Parish of
st. Mary, State of Louisiana, and all
citations or other legal process shall be
served upon the President of said COR
poration, or in his absence upon any
one of the Presidents, or in the
absence of all of these officers. upon the
Secretary.
ARTICLE 8.
Objects and Purposes. s
TIE objects of this corporation shall be: !
LIST: 10 provide a convenient, safe |
and profitable investment for the sub |
scriptiOns of its stockholders.
End: To furnish them with the op-
portunity of borrowing money
3rd: And generally this corporation
is organized for all such objects and |
purposes as are now or may be hereaf-
ter authorized by the Constitution and |
the laws of the State of Louisiana to |
Building Associations, Building and
Loan Associations or Homestead Asso-
Citations, or corporations generally.
10 carry out these objects the cOrpO-
ration shall accumulate funds from
payments on subscriptions to the capt.
tai stock, the payments OF interest on
loans. and money received from other
lawful sources; the funds go accumu-
lated to be used for the advancing or
loaning money to its members, aud for
other lawful investments, and the lend
ing OF money upon mortgage security in
the Parish of St. Mary.
Power to Borrow Money.
The Board Of Directors shall have full
authority to issue interest bearing certifi-
Gates of deposit for monies received other
than from stock subscriptions. and to issue
time or demand interest bearing notes for
money borrowed
the Board by majority vote, with not
less than five directors voting in the af-
may in It's discretion from time
to time, borrow money on behalf of the
corporation, for such term or terms, aud
at such rate of Interest and for such
amounts. as the Board shall determine
and as evidence of such Indebtedness issue
negotiable notes. certificates or other
written obligations of Indebtedness: and
In lis discretion may secure such loan or
loans by pledge. mortgage or both, Of the
bilis receivable. real estate. and any or all
issets. effects or property Of the corpora
ton.
Power to Invest Monies.
When th re u no dem nj for loans u it,
ani 10 q. judgment the Interest
VI the corporation T. therehs best suh-
served. the kaafi ~ directors sAan have
Fuil authority 90 tnNHst mntiss rs the
purchase ~ aut ntirf usgsii tiiir
'ecufttiss 90" ,px,-Ha "a fuek go uthrr
han sssafus in
H. = sird that each
D. ~ ia me sihrma.
Um iisrretsrs. !.
EAEA Gee $50 AA2ii tJs s,srr.-.i !
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