The St. Mary banner. (Franklin, Parish of St. Mary, La.) 1889-1931, 1917-01-13

tneT dueuucu VI VIC TIL Ooy Va 1Au6"'''
1906.
Who declared that. at meeting of
the stockholders of the st. Mary Bnild-
ing Association, held at its domiclle 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-
qurements 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 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 atfording 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 st.
Mary Building Association was amend
ed 80 as hereafter to read and bs, 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 be sned; to make aud use
and alter at pleasure; to hold, receive,
lease, Purchase, convey. mortgage ana
hypothecate under it's 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 may require; to make and es-
tablish such by laws, rules aud reguia-
tons for the proper management and
regulation of its affairs 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 It's 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 2.
Domicile and Citation.
The dOmcile 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 Vlce-Presidents, or in the
absence of all of these Off cers. upon the
Secretary.
ARTICLE 8.
Objects and Purposes.
Tie objects Of this corporation shall be:
LIST: To provide a convenient, safe
and profitable investment for the sub
scriptions of its stockholders.
End: To furnish them with the OPP
portunity Of borrowing money.
3rd: Aud generally this corporation
is organized tor all such objects and
purposes as are now or may be hereaf-
Ter author .zed by the Constitution and
the laws of the State of Louisiana to
Building Associations, Building and
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 on
lOaus. 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 lawf full 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 certti-
Gates Of d" posit 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 al
firmative, may in It's discretion from time
to time, borrow money on behalf OF the
co pOration, for sucn term or terms, and
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 It's discretion may secure such loan or
loans by pledge. mortgage or both, OF the
assets, effects or property of the corpora
tiun.
Power to Invest Monies.
When there is no dem md for loans to its
members and in It, judgment the interest
of the corporation is thereby best SUBJ
served. the Board of Directors shall have
full authority to invest monies toy 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 nave been first APP
proved by a majority vote. with not less
than five directors voting in the aflrma-
tive.
ARTICLE 4.
Officers and Directors.
The corporate powers shall! be exercised
bv Board of Twelve Directors. each of
whom shall own not less than five snares
who shall be elected at a meeting to be
held annually on the third Tuesday in