Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1922-03-03
Act Of incorporation
CITIZENS BANK OF NEWELLTON,
LOUISIANA.

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 SUBJ
scribed, who declared, that avail:ne
themselves of the provisions Of the
laws Of the State Of Louisiana rel
ative to the formation of corpora
tions for the purpose of banking, and
especially Act 179 Of 1902, and
amendments. thereto, they have as
sociated 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 I.
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 IL
The capital stock Of said corpor-
alton shall be Twenty Five Thou
sand Dollars ($25, ,o00.00) divided
into Five Hundred 5000 shares of
Fifty Dollars ($50.00) each, payable
in specie on demand Of tn. Board
Of Directors according to law.
ARTICLE III.
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 0f 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 proceeding the
acquisition Of the bonds by the
bank; and generally to possess and
exercise such powers and privileges
as 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 nec-
essary to carry on the business; to
have and enjoy succession by its
corporate name for q 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, al
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 fol
the proper Transaction Of its busi
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 debt
previously contracted bona fide il
the course Of its business.
(4) Such as it may purchase a
sales, under judgments or mortgage
held by itself, or in which it ma!
have an interest by being subrogate'
to rights according to Article No
2161 Of the Civil Code.
To make, alter and use q corpor
ate seal, which shall be Of the fol
lowing description, and described a
follows, to-wit:
Il To consist Of two concentric cir
cles; between the outer and inne
circle to be the words, at the top
"Citizens Bank Of Newellton;;" q
the bottom: ''Newellton, La" With
the inner circle to be . pelican feed
ing her young, the scales and motto
"Union, Justice and Confidence"
To name and appoint such mar
ayers and directors to administer tn
affairs Of the corporation as ma
be necessary and proper and to Fl