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

f,,n
the bonus; all payable on 'all aneau, !,
date. identified with An w demand nv
Su usei ~ vendors lien and pr n. y.
npto'.t mortgage o: the pran "lsgs vi
no.s ior the amount OF the bp pst1y. h.
wI.nout interest and the oths uaW 70 !.
nosos W pear stipulated rata =. note .,
pc, anhuh from date, said in, -. interss,
ao!e III monthly installments 'asefsss Nv.
the last calendar day Of escb W Or bst o,,
corporations office in Patterso%uo n4 iNs
rate per cent per annum Of ; ;os, u. n.
.he notes are to bear shall h. s'Ss resi- Au
the Board Of Directors. vh 40 nxed ),
the loan application, and to A Sa sicespa,,
mortgage. ''uuor's lien ~
| In the event that the nrono,.
stoct ho,, IS not owned by the bo,mss
c oivoA npiuer; then the same SHAH ho I.
cnaseu oy the corporation in its . Az. W Pun
OUT OF the funds to be advanced U w" aaa.
lne borrowing stockhoider s,,shp .ylasb
remaining Then. or after agreed ,ssaoaat
proVements have been paid. apon U.
properly to be then or sub,sousssagu s,la
10 MIN Tor the am cunt of thu 1Soaay ocIl
the event Of a bonu, bid th. '.a, and h
amount OF the bonus premium uuaoa,
same terms and security a, h..,.oa III
PROVIDED, In the resale Of pronsrt. s'aaoo's
All fees for abstractors. no,....
registers and expense, incnrr.s u
Praising property, making and " III. ~ y,
stakeholder. '1e oofroVle
borrowing Stock holders Avro..
An agreement shall be ent.raa ,.aeat
the stockhoider and the CORPORATE" ~" ostsea
the stipulated payment of natal. Saotsey
terest ana premium bonus shall ~ y
whereby payment on the note, shaI, ~ ~. akW;
manded As long as he regularly na.s As " ~
ments nxed by the contract. and !. Ms ~
tulfills all the obligations Of borro.;.! IN
uonuer' rs PROVIDED IN the charter al ~. ~:
agreement; and II desired by tts su !. -
Ioider. Or required IN any individual ~. ~. q
Ine noaru, Wnereoy rspaymsnts Of ths ..s{
loan IA provided in Article ID hsrsn, '.s Seef
made at stated intervals. saal b
Foreclosure Proceedines
In the event that any borrowing sto....,
snall o III arrears an amount excssd;ro ~
value OF six monthly payments of ;s.s.l We
OF SIX monthly payments on Iustamsr, y.
Or or the agreed annual or semi. snnn.i '.oe1
ihents on Dayton Stock, or Of thu asr..l Pys
monthly payments on his premium hi. u Z
'ioia,os any VI tue ODifyatlOns Of horn,-;
st"ckholder, then the said note Or notes III
Board of Directors, due and er;";Si..~ w
penalty and without putting in 3af,s, =
their full amount; and the Board shslI \. !.
thorlzrd To withdraw the value of ths ~
pledged to secure the loan, and after ilnn,,i.s.
ITS amount according to Article Of this ~
ter, to credit said note or notes with ths ~, !.
manning balance; and to institute surh ~,
measures AS shall be necessary 4, anfore. y.
ment Win interest, attorneys fees aud coa,s
ARTICLE IL.
collation. of LOana
STOCK holders obta ming loans or sdvu.a
liD0n their stock, and failing to tender s.,;.'
factory security within thirty DAYS Alta, H.
date OF the meetin. at which said loan Va. n
Piled for, shall forfeit the same, PROVIDED N.
Board shall have the right to extend tina I'M.
TOR satisfactory reaons. and all costs. ch,,sss
or EXPENSES, together with the interest far sos
less than one month, or such other tina "A
shal! have elapsed, shall be charged to IN
stockhoider and be lien against lis sharw
and paid therefrom as provided in ArticIss
and of this charter.
ARTICLE
Repealed and omitted from Charter.
ARTICLE Is.
Repayment OF Loans.
ANY stakeholder, who has received Inn a,
advance upon his shares desiring to ssttIs al
liQuidate such Indebtedness, NAV do 40 eithes
in part or in whole; and ii desired sny yss.
doris lien and privilege existing against In
property may be reduced proportionstely. "A
each time the loan has, by reason Of snch ~.
ments. been reduced one hundred DOLLAR |,
one share of the pledged stock NAV b
and cancelled.
From time 0 time, by special agreement q
in accordance with his written agreement q
provided for in Article 10 hereof, the cssh
value of his stock payments NAV h
credited Oh his note or notes, and thereafter In.
terest shall be paid only upon the remainder.
ARTICLE II.
Non Liability Of Stock holders.
NO stOckholder shall ever be held liable Or
responsible for the faults, contracts or indebts
edneis of this corporation in any further sun
than the amount of his paid in subscriptions TO
% corporation, and lien borrowing stock.
holder, the additional liability Tor the payment
)t his Indebtedness, as secured by pledge Of
stock and real estate m ortgage; nor shall any
mere inform Atty in the Organization have tie
effect of rendering this act null or exposip1 D
to any liability beyond saeA
amounts,
ARTICLE Is.
Stockholders Meetings.
At the request in writing of ten stockhodssl,
n when ordered by the Board Of Director,
he President shall convene specA meeting VI
stock holders, giving thirty days notice BY nall
md public alton and at all such meetings tbots
present and represented shall constitute . quo
UNI, aud zach share of stock shall entts ID
'0SsesSor to one vote, provided same has ooeo
n force sixty days preceding such meeting
ARTICLE IT,
Amendment to Charter.
This act OF incorporation can be altered,
amended or mod fled, or the corporation d.
olved by vote of three -fourths Of the shsfsA
resent or represented at an annual meeting
+ special meeting Of the STOCKHOLDERS, con-
ened for that purpose, after thirty days 70.
ice by publication and mail The cspe
took eau be increased or decreased b ~
ote of tWo-thlrds of all the shares IN fofce
cpresented at an annual meeting or speas1
leeting convened for that purpose, after t0'F'
y days notice by mail and publication.
ARTICLE II.
Liquidation
In the event of the dissolution OF this oofpo'
alton by limitation or otherwise, three ssooa
plders snail be elected by the stoekholoefs =
special meeting called tor that purpose! ~
iiil act ~ "a Board Of Liquidators, aoa Ivy y.
over an authority is hereby vested " ~
o,rd {, -pc ,dIiy wind up and liquidA1es.s
itr- Oi las cbrpIratlpn ani for sncn purY
seal tnr pr ib"rty and assets thereof -.
meet tpi lcoripi foe all notes and Access.
o. Ani - in,titlte such ,aits a. may W eeeS
~ - rHitcre sane, sst ~ pay Az US
.u.. In - diIe sy tur Asstclat ipn. shI -.
AI-tfiast# .u, proc "a, rem ,isiax ss,.sS
j. sf.'. s.fi.iri' IH pIpPlfilin 10 the sh's"~
iHIf usHlfugt.
L. tnr rsr.tt Hf as taesncy ~ dss'a
/. I.'u or lf .H.4 .rU. f.ttfI az ih fhs
lnl tea. .. tiH ath "a a.. pc uiiea ~ ISL
.IaIns uu.nu.t- sf fle Bptrt IRON NE
iItrtr.
o. fhs rs 'nt q tt.ldi1G "a, f1.'s ~ -
rp.tt.iil4l. hIfr1s ing si@ Ah'' isIs "a
v" t7fa ? sHr % E~tstF 60 - ....sx.
pa wIfH,ittw -. ttltf ~ Va pleiS
provided in Article - her-"f. g, No.,
Iru. dsu.. lld .t<seI At Patterson, Dc ~