The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-01-20

amended on the 18th dav of January,
1898, and as further amended on the
goth day of January, 1908, and as fur
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 29th day Of November, 1916,
for the purpose of considering the
amendment Of the CHI ,rter of sail cor
poration, held after due compliance of
all of the provisions of law and the re-
ouirements 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. II. Thompson and j.
E. Lassus further declared that, at said
meeting, they were authoriz I'd and d.
rected to appear before some competent
Notary Public, cOmmiss toned and quail
fled within and for the Parish of st.
Mary, La, to execute the proposed no.
tarial act and declaration of the amend
VI
law, for the purpose of affording au-
tLentic evidence and permanent rccor 4
thereof.
Wherefore, the said appearers de-
clared, in pursuance Of the authority
thus conferred on them that. at the
sail meeting held on the 29.h day of
November, 1916 the charter of the st.
Mary Building Association was amend
cd 80 as hereafter to read and be, as 10 :
lows:
ARTICLE l.
Exercise of CorporOte Powers.
The name and title of the corporation
shall be and is THE ST. NARY BUILD
ING ASSOCIATION" and under its corpo-
rate name it shall have power to c,n-
tract. sue and be sned; to make and use
y corporate seal aud 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 secu ,ity: to name
and appoint such officers and agents as
the interest and convenience Of the cor
tablish such by. laws, rules and regu d.
tons for the proper management ana
regulation of its aft ,irs as may be neces-
sary and proper. and tho sam to change
and alt n at pleasure, and to do ali such
acts and things as are or may be proper
and necessary TO carry ont lis obj .cts
and purposes; and S lid corporation I'M
less sooner dissolved, in accordance with
its charter, shall exist for and during
ninety mine years from VI ,rch 5th, 1894.
ARrICLE2.
Domicile and Citation.
The dOmi Gle of said corporation shall
bs in the Town of Patterson, Parish of
st. Mary, State Of LOUISIANA, aud all
citations or other legal process shall be
served upon the President of slid COR
poratiOn, or in his absence upon any
one of the Vlce-Presidents, or in the
absence of all of these off GERS. upon the
Secretary.
ARTICLES.
Obi cts and Purposes.
The objects Of this corporation shall be:
1st: To provide convenient, safe
scriptiOns of its stockholders.
End: To furnish them with the OPP
portunity Of borrowing money.
3rd: Aud general this corporation
is organized for all such obj cts and
purposes as are now or may be hereaf-
ter author.z d by the Constitution and
the laws of the State of Louisiana to
Building Associations. Building and
Loan ASSOCIATE Jus or Home-tead Asso.
Citations, or corporations generally.
TO carry ont these obj'cts this cOrpO-
ration shall accnm ate fun Is from
payments on subscriptions to the cipi-
tai stock. the payments of interest on
loans, aud money received from other
lawful sources; the funds go accu nu-
lated to be usel for the advancing or
lOaning m 1ney to its members, and for
other Lawful investments, and the lend
ing OF money upon m 'rtgaye security in
the Parish Of St. Mary.
Power to Borrow Money.
The Board OF Directors shall have full
authority to issue interest bearing certiti-
Gates of dep ,sit for monies received other
than from stock subscriptions. and to issue
tim. or demand interest bearing notes for
money borrowed.
Tine Board by a minority vote, with not
less than five directors voting in the at
frmative, may in its discretion from time
to time, borrow money on behalf of the
co pOratiOn, for sucn term or terms, ana
1T such rate Of interest ana 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
bills receivable, real est tie, AMI any or all
assets. effects or property of the corpora
ton.
Power to Invest Monies.
When tn re is no dem nd for loans to its
members and in Its juag .ueut the interest
OF the corporation Is thereby best SUBJ
served. the Board OF Directors sh Ill have
full authority to invest monies by the
purchase Of bonds AMI 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 ap.
proved by majority vote. with not less
tn n five directors voting in the atfirma
tive.