The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1916-12-23

amended on the 18th day of January,
| 1898, and AS further amended on the
10Th day of January, 1903, and as fur
thtr amended on the 4th day of August,
1906.
Who dec AIRED that. at meeting of
| the stockholders Of the st. Mary Bold
| ing Association, held at its dOmicile in
the Town of Patterson. St. Mary Parish,
La, on the 29th 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-
quirements of the charter Of said cor
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
J 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 18th day OF
November, 1916 the charter of the It.
Mary Building Association was amend
ed so as hereafter to read and be, AS fol-
lows:
| ARTICLE l.
Exercise of COrporote Powers.
The name and title of the corporation
shall be and is THE ST MARY BUILD
ING ASSOCIATION" and under its corpo-
] rate name it shall have power to con-
tract, sue and bs sued; to make and use
a corporate seal and the same to break
and alter at pleasure; to hold, receive,
lease, Purchase, convey. mortgage and
hypothecate under its 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 aft ,irs 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 necessary 10 carry ont its objects
and purposes; and said corporation I'M
less sooner dissolved, in accordance with
its charter, shall exist for and during
ninety mine years from March 5th, 1894
ARTICLE2
| DOmicile 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 Vice-Presidents, or in the
absence of all of these officers. upon the
Secretary.
ARTICLE
| Obi cts and Purposes.
Tie objects vt this corporation shall be:
LIST: 10 provide convenient, safe
! and profitable investment for the SUBJ
scriptiOns of its stockholders.
2nd: To furnish them with the OPP
portunity Of borrowing money.
3rd: And generally this corporation
is organized for all such objects and
purposes a. 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.
TO carry out these objects the cOrpO-
ration shall accumulate funds from
payments on subscriptions to the capi-
tai stock. the pay ments 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 10 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. |
Tine Board by majority vote, with not |
les than hve directors voting in the at |
frmative. may in its discretion from time |
to time, borrow money on behalf of the |
co. pOratiOn, foe such term or terms, and |
at such rate of interest and for such |
amounts. as the Board shall determine,
aud as evidence of such Indebtedness issue
AcROtIaoIe noteS, certlucaLeS or other |
written obligations of Indebtedness: and
In lis discretion may secure such loan or
loans by pledge. mortgage or both, OF the
bills receivable, real estate, and any or all
assets, effects or property Of the corpora
ton.
Power to Invest Monies.
When tn re is no dem md for loans to its
members and in Its Judgment the interest
OF the corporation Is thereby best sub.
served. the Board of Directors shall have
full authority to invest monies 10y the
purchase of bonds and other negotiable
securities. and to lend money to other
than members upon mortgage security IN
the Parish of St Mary; provided that each
such transaction shall have been first APP
proved by majority vote with not less
than five directors voting in the aftirma-
tive,