The Colfax chronicle. [volume] (Colfax, Grant Parish, La.) 1877-1981, 1919-07-26

.lared elected, provided majority o!
the stock is represented. Said board
If directors shall elect annually from
among their number president and
They shall also elect {
anv persons, one to act as cashier and 4
If necessary an assistance cashier and
such other employees as may be neces- I
sary. and fix their salaries.
Five of said directors shall constitute
a quorum for the transaction OF busi-
ness of the corporation.
ANY vacancy or vacancies occurring
in the board. of directors shall be hlled
by the remaining directors for the IN.
expired term, after the president shall
have given Ave days previous notice IN
writing of an election called to NIL
same.
Previous notice of not less than ten
days shall be given of each annual
meeting of stockholders to elect
board Of directors by publication in
newspaper published in the parish OF
Grant, nearest to the Town of Mont
pomery, if no newspaper be published
therein, or in a newspaper published IN |
said town, and in case no election, Tor
anv 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 snail
remain in Office and serve until their
successors are elected and qualify.
ADTVOV z "
The board of directors shall make,
ordain and adopt such bylaws and
rules for the government and proper
management Of the business and al
/ 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 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
4 gomery, Louisiana; said board OF d.
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, that
the matter of such increase shall be
first submitted to general meeting OF
the stockholders. after thirty days no.
; tice by publication and by mail, and
two-thirds of the amount of capital
: stock approve the same, such amend.
ment to be executed, recorded and
: published as this original charter.
), ARTICLE VII.
Whenever this corporation is dis.
solved. either by limitation or from
/. any other cause, its affairs shall 81
: : Inundated under the supervision Of
{ three commissioners to be selected BY
the stockholders from among them
! selves at q general meeting convenet
! for that purpose, after thirty day
{ prior notice by mail to each stock
: holder and by publication in q newspa
: per published in Grant parish neares
= the domicile of this corporation, pro
: lyided the assent of the owners of three
9 fourths Of the capital stock vote there
= for. Said commissioners shall remain
in Office until the affairs of this corpo
ration shall have been fully liquidate
A. and settled, and in case of death OF on
q or more of said commissioners, the SUI
10 vivor or survivors shall continue to ACT
IS ARTICLE VIII.
vi No stockholder shall ever be liable q
IL responsible for the contracts or fault
~ or offenses of this corporation in an
n further sum than the unpaid balanG
D, due by MIN on his subscription
O. shares of stock.
aae ARTICLE TX.
20 The shares of this corporation shs
"a be personal property and shall
en- transferable only on the books of Il
ty company. 1890
all The following named persons shs
constitute the first board of director
to-wit: W.O.H Harrison, o. r. Harriso
TT. Harrison, P. E. Harrison, A. P. Coo
zee field. DIR. A. j. Morat, CIV. Dyson, w.
'p- Hill and C. G. Wilson, and w. 0. Ha
tie rison shall be president and 0. P. Ha
ne rison shall be vice-president. Tn
%. shall hold their Offices as such, respec
ad iyely, until the next election of diret
nd ors as provided in this charter, and u
u.s. til their successors shall have be-
ne elected and qualify. The number
De directors shall be nine.
lss ARTICLE XII.
nv At all meetings of stockholders I
Of the election of directors or for q
other purpose, each stockholder sh
be entitled to cast one vote for ca
share Of stock held by him, either
ich person or by proxy.
by ARTICLE XII.
IN; ~. 1t shall be the duty of the cashier
LII this bank to notify each stockholder
nd the annual meeting OF stockholds
=. and each director of the regu
~ ~ monthly meeting of directors and
~ such other meetings of these bod
;,s, held under the provisions of this chi
iue TOR or nv call of the president.