Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1922-03-10
Act of Incorporation

Act of Incorporation
CITIZENS BANK OF NEWELLTON,
LOUISIANA.
State of Louisiana,
Parish Of Tensas.
Be it known and remembered, that
on this, the 18th day of February,
A. D. 1922, before me, E. F. Newell
dy. Clerk Of Court, and a Notary
Public in and for the Parish of Ten
sas, State Of Louisiana, duly commits
stoned and qualified, and in the pres
ence of the witnesses hereinafter
named and undersigned, personally
came and appeared, the several per-
sons whose names are hereunto sub
scribed, who declared, that avail:ng
themselves Of the provisions of the
laws Of the State of Louisiana rel
alive to the formation of corpora
tons for the purpose of banking, and
especially Act 179 of 1902, and
amendments thereto, they have as
ISOLATED themselves together, and
have covenanted and contracted and
by these presents do hereby covenant
and contract, both for themselves
and for those who shall hereafter
become associated with them, and
hereby bind themselves into and form
and constitute q corporation for the
purposes, and under the regulations
and articles, herein following, to-wit.
ARTICLE l.
The name assumed for said BANK
ing corporation and to be used in its
dealings shall be Citizens Bank OF
Newellton. The banking business Of
said association shall be carried on
in the Village Of Newellton, Parish
Of Tensas, State of Louisiana, and
the domicile Of said corporation shall
be the said Village of Newellton.
ARTICLE II
The capital stock of said ccrpor-
alton shall be Twenty Five Thou
sand Dollars ($25, 0O0.00) divided
into Five Hundred. 5000 shares of
Fifty Dollars ($50.00) each, payable
in specie on demand of the Board
Of Directors according to law.
ARTICLE Ill.
The objects and purposes for which
this corporation is formed is to carry
on q general banking business in all
Of its branches and departments, and
to that end shall have power and au-
thority TO receive deposits, to DIS
count 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 municipal corporations on
which bonds there shall have been no
default in the payment Of the in
: terest for FIVE years preceding the
acquisition of the bonds by the
bank; and generally to possess and
exercise such powers and privileges
~ may be conferred by any exist
ing laws Of the State of Louisiana
on the subject matter, or may here
after be conferred by further lcgis-
lation on the same subject; and to
exercise all incidental powers nee
essary to carry on the business; TO
have and enjoy succession by its
corporate name for a period IF
fifty years from the date of this act,
and by that corporate name to sue
and be sued, to plead and be i'm
pleaded, appear, answer and prose-
cute in any and all courts of justice
and elsewhere.
To hold, receive, purchase and
convey, by and in its corporate name,
such property, real and personal, as
may be indispensable to the objects of
this association, and the real estate
which this banking association may
lawfully purchase, hold and convey
shall be,
(1) Such as shall be necessary for
the proper transaction Of its bust
ness.
(2) Such as shall have been mort
gagged to it in good faith as Sc
curity for loans.
(3) Such as shall have been con-
veyed to it in satisfaction of debts
previously contracted bona fde in
the course Of its business.
(4) Such as it may purchase at
sales, under judgments or mortgages
held by itself, or in which it may
have an interest by being subrogated
to rights according to Article No.
2161 Of the Civil Code.
To make, alter and use a corpor-
ate seal. which shall be of the fol-
lowing description and described as
follows, to-wit:
To consist Of two concentric cir
cles; between the outer and inner
circle to be the words, at the top;
''Citizens Bank Of Newellton;" at
the bottom: ''Newellton, La" Within
the inner circle to be pelican feed
ing her young, the scales and motto:
"Union, Justice and Confidence"
To name and appoint such man.
ayers and directors to administer the