The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1919-07-19

clared elected, prOVloeu HnaJo',J
the stock is represented. SAID poaro
Of directors shall elect annually from
among their number president and q
vice-president. They shall also elect
any persons, one to act as cashier ana
If necessary an assistance cashier ana
such other employees as may be neces-
sary. and fix their salaries.
Five of said directors shall constitute
quorum for the transaction OF Dusi-
ness of the corporation.
ANY vacancy or vacancies occurring
in the board of directors shall be hlleo
by the remaining directors for the un,
expired term, after the president snail
have given five days previous notice IN
writing of an election called to Ill
same.
Previous notice of not less than ten
DAYS shall be given OF each annual
meeting of stockholders to elect q
board of directors by publication IN q
newspaper published in the parish OF
Grant, nearest to the Town OF mont,
gomery. if no newspaper be publisneo
therein, or in a newspaper published IN
said town, and in case no election, Tor
any cause, is held on the day fixed IN
said notice, the president of the board
of directors shall call an election to be
held thereafter as soon as possible after
three several weekly notices published
in like manner. A failure to elect
board Of directors shall not forfeit the
charter of this corporation but the
hoard of directors then in Office shall
remain in office and serve until their
successors are elected and qualify.
ARTICLE v.
The board of directors shall make,
ordain and adopt such bylaws and
rules for the government and proper
management of the business and at
fairs of the bank as may be necessary
and proper. in conformity with, the
provisions of the laws OF this State and
of this charter, with authority such by
| laws and rules to alter, amend or re-
peal at pleasure, and they shall adopt
| for the use of the corporation d seal,
which shall be circular in form, of the
size of an ordinary notarial seal, on
which shall be impressed the following:
| Farmers and Merchants Bank. Mont
gomery, Louisiana; said board of di-
rectors shall have authority as granted
Nv law to alter or amend said seal.
ARTICLE vi.
The capital stock of this corporation
NAV be increased SO as to make its
total capital stock fifty thousand dol
lars. that is by the issuance of three
hundred more shares of one hundred
dollars each, provided. however, thai
the matter of such increase shall be
first submitted to a general meeting oil
the stockholders, after thirty days no
tice by publication and by mail, ant
two-thirds of the amount of capita
stock approve the same, such amend
Lment to be executed, recorded ant
published as this original charter.
/ ARTICLE VII.
4 Whenever this corporation is dis
solved, either by limitation or from
any other cause, its affairs shall b,
liauidated under the supervision o
three commissioners to be selected b,
the stockholders from among them
selves at q general meeting convene,
, for that purpose, after thirty day
prior notice by mail to each stock
holder and by publication in newspa
per published in Grant parish neares
the domicile of this corporation, pre-
vided the assent of the owners of three
: fourths of the capital stock vote there
l for. Said commissioners shall renal
in Office until the affairs of this corpt
ration shall have been fully liquidate
and settled, and in case of death of on
!, or more of said commissioners, the SUI
. vivor or survivors shall continue to &C
) ARTICLE VIII.
!, No stockholder shall ever be liable {
i responsible for the contracts or faul,
y or offenses of this corporation in an
i further sum than the unpaid balanl
!, due by MIN on his subscription [
/ shares of stock.
e ARTICLE TX.
= The shares of this corporation sha
be personal property and shall
!, transferable only on the books of Il
v company.
II The following named persons shs
constitute the first board of director
. to-wit: Harrison, o. r. Harrison
IT. J. Harrison, p. E. Harrison, A. P. Cocl
e field, DR.. A. j. Morat, CIV. Dyson, w.
J. Hill and C. c. Wilson, and w. o. Ha
,e rison shall be president and o. P. Ha
e rison shall be vice-president. The
D shall hold their Offices as such, respec
ID lively, until the next election of direc
ID ors as provided in this charter, and vi
s. til their successors shall have be-
Re elected and qualify. The number
,e directors shall be nine.
II ARTICLE XII.
~ At all meetings of stockholders f
= the election of directors or for al
other purpose, each stakeholder shs
be entitled to cast one vote for ca,
share of stock held by him, either
h person or by proxy.
" ARTICLE XII.
s 1t shall be the duty of the cashier
Is \, this bank to notify each stakeholder
y, the annual meeting of stockholde
70 and each director of the regul
J, monthly meeting of directors and
e such other meetings of these bodi
?, held under the provisions of this cha
y ter or by call of the president.
- Thus done, read and signed at Mon