The Donaldsonville chief., 1920-04-24
ARTIGI LIE EIGHT

No stockholder shall be entitled to ri.
row who owes anything on his shares Ys,s ss,sa
shah any shareholder be loaned an anic ansss
exceedng the maturity value of the sfa.ss
borrowed on In all cases where the asses; NJ
alton lends money to the shareholders ;sss
shall have the right at the maturity Of sa;s AAS d
stock to compensate and set off the araoi,ns y
due said shareholder on his pledged stnaIs
against the sum loaned him and to ratssss
said amount in payment of his loan and nass
part of any such loan shall be considered asa
+ paid until the stock loaned on has n atnrss "
T and compensation has been effected. Shara Il
holders who have been awarded loans sr.HNs
their shares failing to tender satifacfor~2
security therefor within thirty days frnas
the date of the loan shall forfeit same (nrassss ~
vided that the board of directors may for
good and satisfactory reasons, extend fbsE
same and all charges and expenses AMI
costs attending the examination of tifJas@
and searches together with interest for mn s B
less than four weeks, or such further tirrasssS88
as may have elapsed, shall be charged ID 4Ess
borrower and be lien against his OF hssss
shares until paid. All fees of atternevs 81
notaries recorder and ali other expenses II. ~
Cured in making or canceling loans shaIss
be paid by the respective borrowers. Mem
bers of the association wishing to borrn. s
money on the simple pledge of their stock sssss
on vender's lien and privilege securitisa "
shall make application therefor in writing tass
the secretary treasurer, who shall registar
and number same in accordance with thesrS
receipt and when there sufficient fund.-
in the treasury from which to make loans
they shall be given to the applicants fsrs
SAME in the order of their respective applsas
ton.
ARTICLE NINE
No shares of stock shall be transferred
except on the books of the associations ana
!pon he surrender of the certificate thare.z s.
For and provided that no share in arrears y
can be Transferred. There shall be chaYa,S S
of twenty-five cents for each transfer of aass
certificate of stock.
ARTICLE TEN So So
The following named persons. to-wit: sR n
f. Noel, A.. S. Crawford. J: NJ. Maher. Pas
schaf. ST.. Walter Lemann David Tsrasia
Jr., w. c. Hazlip. J. E. Blum. Richard Mel.
ancon, Frank Milano, M. j. Wnkler.
Clarence Leblanc, L. z. Mattingly, will
Walter Lemann as president; 4. E. IoeN@
first vice president; j. Clarence LeBlans
as s%9nd vice president; R. S. Viekers, al q
secretary treasurer. hereby constituted
She first board of directors and shall hold of.
fee until the fourth Thursday in January
1921. and until their successors are eiected&
and qualified. mi
ARTICLE ELEVEN.
This act of incorporation may be changed
altered, amended or dissolved by vote III III
three-fourths of the shareholders present 81 8
represented at general meeting of the
stockholders convened for that purpose afss
ter thirty days notice of such meeting shsII
have been published in of the papsSs afs#
he parish. The affairs of this associaticas
in the event of liquidation, shall be liquid
ated by three commissioners to be elected bs ~
the board of directors. VI
ARTICLE TWELVE
No shareholder shall ever be held liablss "a
for the contracts or faults of this assocss
ton in any further sum than the arnouns
of his Indebtedness to the association; ncss9
shall any informality in its organiaatioha
have the effect of rendering this :charteza
null or exposing the shareholders to ans
liability beyond rthe amount Of their VII
scription to the stock. s9sFE:ssss
Thus done and passed in the parish of AsssSs
cension in the presence of Earl Warrick and
Henry M. Dueas, competent witnesses, Wills
hereunto set their names with appeRrefss
and me. notary. the day, month and yeaf 81
first above written ss$
: tNAMES OF SUBSCRIBERS OMITTEDY
Witnesses sr
EARL WARRICK.
HENRY M. DUGAS.
WALTER LEMANN
tL.S.l Notary Public
l, the undersigned, recorder in and for Hthk @#
parish Of Ascension, do hereby certify that
above and foregoing to be a true and co.'s sRs
rect copy of the original charter Of Aseen
sion Building and Loan Association fnamsasS
of subscribers omitted, and recorded III IL
Book of Charters No One, at page n, at seass#
In testimony whereof witness my signs ~
ture and seal of office this Goth day csH
April, 1920. j. s. BARMAN.
Clerk and Ex-officio Recorder, Parish n z