The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1919-08-09
CHARTER
OF THE
FARMERS AND, MERCHANTS BANK

81 A1 T. Of LOGlSlANAJ
Parish of Grant. !
Be it known. That on this the Both
day of June A. ID. 1919, before me, j.
B. Roberts, Notary Public, duly COM
missioned, sworn and qualified in and
for the Parish of Grant. State of Lou
isiana, personally came and appeared
w. O. Harrison, T. J. Harrison. C. v.
Dyson, l. C. Dyson, l.. j. Harrison. o.
2. Harrison, r. A. Sellers, j. ID. Bos
ton, w. W. Dyson. c. C. Wilson, DIR.
A. j. Morat. A. j. Morat. and the
other persons whose names are signed
hereunto, all being residents and dom
Iciled in the Parish of Grant, Louis
lana, and whose residence is stated OPP
-posite their names, who declared that,
availing themselves of the laws of the
State of Louisiana applicable to banks
and banking and being desirous of ac-
curing and enjoying the powers and
privileges granted by the laws of the
State of Louisiana to corporations for
the conduct of bank or banking con-
Germ, they have agreed and do by these
presents covenant and agree, bind and
obIigate themselves, as well as such
other persons as may hereafter become
associated with them, to form body
corporate in law, for the objects above
set forth under the following stipula-
tions, terms, provisions and articles of
Incorporation, tO-wit:
ARTICLE |.
The name and title of this corpora
ton shall be Farmers and Merchants
Bank of Montgomery and its domicile
and place of doing banking business
shall be the town of Montgomery,
Grant parish. Louisiana, and its capt.
tai stock is hereby fixed at twenty
thousand dollars, divided into two hun
dred shares of one,hundred dollars each,
the appearers herein being sharehold-
ers and the places of residence and the
number of shares and the amounts
held by each of them respectively be-
ing set forth opposite their signatures,
which amounts of said shares have been
and are to be paid as follows: Fifty
per centum this day and the other half
within ninety days after the bank shall
begin business.
ARTICLE IL.
That said corporation shall commence
its existence on the 18th day of Sep
TENDER, 1919. and shall enjoy corporate
existence for a period of ninety-nine
years from said date. and by its corpo-
rate name may sue and be sued, plead
and be impleaded. appear, answer and
prosecute in any and all courts of JUS
- s.,f tafa s.Ie hf.x H..
president of this corporation shall be
the officer on whom citation and other
legal process may be served, and in his
absence upon the vice-president or any
other officer designated by the board Of
directors for that purpose.
ARTICLE Ill.
The objects and purposes for which
this corporation is organized are hereby
declared to be: To do general bank
ing business under the laws of this
State, and under such authority it shall
have power to receive deposits, to lend
money on real and personal security,
TO accept for payment at future date
drafts drawn upon it by its customers,
to issue letters of credit authorizing
the holders thereof to draw drafts upon
it or it's correspondents at sight or on
time; to discount and buy and sell
promissory notes and bills of exchange,
and other evidences of Indebtedness,
gold and silver and bonds of the United
States and of THIS State, and of the
several levee districts of this State and
of the parishes and school districts,
drainage districts, road districts, aDd
of the municipal corporations of this
State. as provided by law, and it shall
have all powers incidental or necessary
to exercise of the powers just enumer-
ated, and shall have power 10 ac-
quire and dispose of real estate as pro-
vided by law for banking corporations,
and such other powers as are now or
may hereafter be granted to banks.
ARTICLE Nv.
This corporation shall be managed by
board or nine directors who shall be
citizens of this State and actual stock
holdersof this corporation. Said d.
rectors shall be elected by balloton the
first Monday in September of each
year, beginning with the first Monday
in September, 1920, and said directors
shall hold Office for one year or until
their successors are duly elected and
qualified.
The nine persons receiving the high
est number of votes cast at an annual
election held for the purpose of elect
ing board Of directors shall be de-
clared elected, provided majority of
the stock is represented. Said board
of directors shall elect annually from
among their number a president and a
vice president. They shall also elect
any persons, one to act as cashier and
If necessary an assistance cashier and
such other employees as may be neces-
sary, and fix their salaries.
Five of said directors shall constitute
a quorum for the transaction of bust
ness Of the corporation.
Any vacancy or vacancies occurring
in the board of directors shall be filled
by the remaining directors for the I'M
expired term, after the president shall
have given five days previous notice in
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