The Chronicle-star combined with the Moss Point advertiser., 1948-12-31
NOTICE

CFeull Union VIII De heId IN the An
mex Building of the ingalls, Ship
building Corporation in the City. of
Pascagoula. Mississippi on Monday.
January 10, l949 at 90 O'Clock p. M.
As required by Section l, Article
XVII of the bylaws of the Ingalls
Employees Credit Union. notice Is
further given that the following
amendments TO the bylaws of the In
gals Employees Credit Union viii be
considered:
BE IT RESOLVED that Section /,
Article II. of the bylaws of the In
gals Employees Credit Union be, and
the same is hereby amended 10 read
as follows:
ARTICLE II
Section /. Membership in the
Credit Union vs. limited to employees
of the ingalls, Shipbuilding Corporation
on a payroll status"
BE IT RESOLVED that Section s.,
Article ii, of the bylaws of the In
gals Employees Credit Union be. and
the same is hereby amended to read
as follows:
ARTICLE II
Section 5. A member who ave
employment of the ingalls, Shipbuild-
ing Corporation or the ingalls, En-
ployees Credit Union shall thereupon
automatically terminate his member
ship in the ingalls, Employees Credit
Union in which event he shall re-
ceive his shares and deposits, together
with such fair earnings thereon as
the Directors may determine as pro-
vided in Section 1853 of the Mississippi
Code of 1880. In no event shall he
thereafter be permitted to borrow from
the Credit Union or exercise any
rights of membership thereof"
BE IT RESOLVED that Section /,
Article ". of the bylaws of the In
gals Employees Credit Union be, and
the same is hereby amended to read
as follows.
ARTICLE w
Section /. At any regularly called
meeting, the members by a two-thirds
vote of those present, may expel from
the Credit Union any member thereof,
BE IT RESOLVED that Section 4,
of Article VII of the bylaws of the IN
gals EMPLOYEES Credit Union be, and
the same is hereby amended to read
as follows:
ARTICLE VII
Section 4. A member failing to
pay an installment when due unless
excused therefrom for cause by the
Board of Directors) shall pay such fine
as may he prescribed by the Board of
Directors by uniform regulations APP
plicable to all loans adopted by the
Board from time to time. If INSTALL
ments. interest or fines remain unpaid
after n month. the Board of Directors
may take such steps towards terminal
ing MS membership ana making cor
lection as IL may in its judgement be
advisable"
BE 1T RESOLVED that Section /
of Article VIII of the bylaws of the
ingalls, Employees Credit Union be,
and the same is hereby amended TO
read as follows:
ARTICLE VIII
Section 1. The Board of Directors
shall consist of seven members, elect
ed ANNUALLY as follows: tFor the
purpose of these bylaws. the first
meeting of the subscribers to the
Articles of Agreement and association,
after permission has been granted them
to operate a credit union. shall be
called the first annual meeting; the
next annual meeting thereafter. the
second annual meeting. and the next
annual meeting thereafter, the third
annual meeting there shall be elected
| three directors to serve until the
second annual meeting, three directors
TO serve until the third annual meet
2 ing: thereafter all elections will be,
except elections to fill vacancies, lin
which case election shall be for the
unexpired term shall be for terms oil
three years, No member of the Board
of Directors shall serve on the Super
I Visory or the Credit Committee.
l BE 1T RESOLVED that Section
of Article VIII of the bylaws of ths
4 ingalls, Employees Credit Union be
and the same is hereby amended t.
A read as follows:
ARTICLE VIII
Section 2. At the first meeting
: of the Board of Directors, which shall
= from its membership be held not late
!, than seven days after the annua
= meeting. said Board shall elect I
! President, a Vice-President. a Sec
rotary and a Treasurer. The offics
of the Secretary and Treasurer may
= be held by the same person. Ths
Board of Directors shall meet as of
ten as the business of the credit uniof
, may require, upon notification by
| the Secretary "a of the members
shall constitute a quorum"
BE 1T RESOLVED that Section !
Article XII of the bylaws of the In
! gals Employees Credit Union be. ane
! the same is hereby amended to reae
! as follows:
ARTICLE XII
( credit union shall end at the clos,
Q of business on the thirty-first day o
December. The annual meeting o
S the members shall be held at Pasca
goula, Mississippi on the fourth Mon
} day of January in each year"
n BE IT RESOLVED that Section 2
Article XII of the bylaws of the In
gals Employees Credit Union be, anf
: the same is hereby amended to reat
as follows:
ARTICLE XII
e Section 2. At all meetings a mem
i Der shall have hut a single vote what
e ever his share holdings"
: BE IT RESOLVED that Section 3
/ Article XII. of the bylaws of the In
= gals Employees Credit Union be. ane
: the same is hereby amended to rea'
: as follows:
. ARTICLE XII
Section 3. Seven days notice O
| \ lAs - ~--As-
q the members shall be given by post
. ing notice of same in a conspicuou
: place in the office of the credit union
v and by publishing a copy of said no
+ tice in two weekly issues of a week.,
{ newspaper published in the City o
4 P~ascagoula, Mississippi. Immediately
preceding the date of the meeting"
BE 1T RESOLVED that Section q
: Article XII of the bylaws of the In
gals EMPLOYEES Credit Union be. am
the :ame is hereby amended to real
2 as follows:
: Section 4. Is members or NOR
= shall constitute a quorum for tn
2 transaction of business at any reguls
: or special meeting. If a quorum Il
! not present at the time first appointed
e for a regular or special meeting g
, the ingalls, Employees Credit Union
= the meeting shall be adjourned TO
Z date not less han five days afte
? such regular OF special meeting, and
notice of the adjourned meeting shall
4 be posted in n conspicuous place IN
the office of the Credit Union. and
n copy of said notice Of said adiournet
meeting published in one issue of
y weekly paper published in the Cit.
of Pascagoula. Mississippi. immediate
" preceding the date of the adjournes
meeting. The members then presen
shall constitute a quorum for tn
= transaction of business"
7 BE IT RESOLVED that Section