The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-01-06

1898. and AS further amended on the
10Th day of January, 1903, 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 charter of said cor
poration, held after due compliance of
all of the provisions of law and the re-
uuirements 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
ment of the said charter, as required by
law, for the purpose Of atfordlng au-
lnenllC cflucuCe duu PoA"i'Aono ioeOi"
thereof.
Wherefore, the said appearers de-
cared, 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 st.
Mary Building Association was amend
ed 80 as hereafter to read and be, as fol-
lows:
ARTICLE l.
Exercise of Corporate 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 be sued; to make and use
n 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 and agents as
the interest and convenience of the cor
poration NAV require; to make and es'
tabiish such bylaws, rules aud regula-
| tons for the proper management and
regulation Of its aft airs as may be neces-
sary aud proper. and tho same to change
and alter at pleasure, and to do ali such
acts and things as are or may be proper
and necessary to carry ont its objects
and purposes; and said corporation I'M
less sooner dissolved, in accordance with
its charter, shall exist for and during
ninet mine years from March 9th, 1894
ARTICLE
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 bt
| served upon the President of said cor
pOratiOn, or in his absence upon any
one of the Vice Presidents, or in thu
absence of all of these officers. upon the
Secretary.
ARTICLE
| Objects and Purposes.
| Tie objects of this corporation shall be
| LIST: TO provide a convenient. SAT-
and profitable investment for the sub
scriptions of its stockholders.
| 2nd: To furnish them with the Op
portunity Of borrowing money.
3rd: And generally this corporation
is organized for all such objects ant
purposes as are now or may be hereaf
ter author zed by the Constitution ant
the laws of the State of Louisiana Il
Building Associations. Building ant
Loan Associations or Home ead AssO
Citations, or corporations generally.
TO carry out these objects the cOrpO
ration shall accumulate funds from
payments on subscriptions to the CAPT
tai stock. the payments OF interest OF
loans. aud money received from othe
lawful sources; the funds go accumu
lated to be used for the advancing o
loaning money to its members, and TO
other law full investments, and tue lend
ing of money upon mortgage security II
the Parish of St. Mary.
Power to Borrow Money.
The Board Of Directors shall have ful
authority to issue interest bearing certiti
Gates of deposit for monies received othe
than from stock subscriptions. and to lssu
time or demand interest bearing notes TO
money borrowed.
The Board by majority vote, with no
less than five directors voting in the at
tirmative, may III its discretion from tim
to time, borrow money on behalf of tn
co poration, for such term or terms, an
at such rate Of interest and for sue
amounts. as the Board shall determine
and AS evidence of such Indebtedness issu
negotiable notes, certificates or othe
written obligations of Indebtedness: an
in It's discretion may secure such loan o
loans by pledge. mortgage or both, of til
bills receivable, real estate, and any or a
assets. effects or property of the corpora
ton.
Power to Invest Monies.
When there is no dem md for loans to ii
members and in Its judgment the interes
of the corporation Is thereby best sub
served. the Board of Directors shall hav
full authority to invest monies by tn
purchase Of bonds and other negotiable
securities. and to lend money to Othe
than members upon mortgage security j
the Parish Of st. Mary provided that eac
such transact ion shall have been first ap
proved by a majority vote. with not les
than five directors voting in the afhrma
tive.
| ARTICLE 4.
| Officers and Directors.
The corporate powers shall be exercise
n ,atr 4,