The Chronicle-star combined with the Moss Point advertiser., 1949-01-07

Board from time to time. If INSTALL
e interest or ines remain unpaid
after n month. the Board of Directors
may take such steps towards terminal
ing his membership and making coll
lection as it may in its judgement be
BE 1T RESOLVED that Section l
OF Article VIII of the bylaws of the
ingalls, Employees Credit Union be,
and the same is hereby amended 10
read as follows:
ARTICLE VIII
Section l. The Board of Directors
snail consist of seven members. elect
ed annually as follows: (For 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. n the next
annual meeting thereafter. the third
annual meeting, etc.) At the first
annual meeting there shall be elected
three directors 20 serve until the
second annual meeting. three directors
to serve until the third annual meet
ing; thereafter all elections will be,
except elections TO fill vacancies. Tin
which case election shall be for the
unexpired term shall be for terms of
alAtG HCdIS. ~ IIlCiflDCI Vi Tie bOdTQ
of Directors shall serve on the Super
visory or the Credit Committee"
BE 1T RESOLVED that Section 2
of Article VIII of the bylaws of the
ingalls, Employees Credit Union be.
and h same is hereby amended to
read as follows:
ARTICLE VIII
Section 2. At the first meeting
of h Board of Directors. which shall
from its membership be held no later
than seven days after the annual
meeting. said Board shall elect a
President. a Viee-President. a Sec
rotary and a Treasurer. The office
of the Secretary and Treasurer may
be held by the same person. The
Board of Directors shall meet as of
may require. upon notification by
the Secretary "a of the members
shall constitute a uuoruml."
BE IT RESOLVED that Section l,
Article XII of the bylaws of the In
gals Employees Credit Union be. and
the same is hereby amended to read
as follows:
ARTICLE XII
Section /. The fiscal year of the
credit union shall end at the close
of business on the thirty-first day of
December. The annual meeting of
goula. Mississippi on the fourth Mon
day of January in each year"
BE IT RESOLVED that Section 2,
Article XII of the bylaws of the In
gals Employees Credit Union be, and
the same is hereby amended to read
as follows:
ARTICLE XII
Section 2. At all meetings a MEM
Der shall have u a single vote what
ever his share holdings"
BE 1T RESOLVED that Section 3,
Article XII. of the bylaws of the In
gals Employees Credit Union be. and
he same is hereby amended to read
as follows
ARTICLE XII
Section g.. Seven DAYS notice of
the annual or anv special meeting of
the members shall be given by post
ing notice of same in a conspicuous
place in the office of the credit union,
and by publishing a copy of said no.
tice in two weekly issues of a weekly
newspaper published in the City of
P~ascagoula, Mississippi. immediately
preceding the date of the meeting"
BE IT RESOLVED that Section 4.
Article XII of the bylaws of the IN
the same is hereby amended to read
1 as follows:
ARTICLE XII
SECTION q. Is members or more
snail constitute a quorum for the
transaction of business at any regula,
or special meeting. II a quorum is
not present at the time first appointed
the ingalls, Employees Credit Union
the meeting shall be adjourned to Z
date not less than five DAYS after
such regular or special meeting. and
police Of the adjourned meeting shall,
be posted IN a conspicuous place In
the office OF the Credit Union. and q
copy of said notice of said adjourned
meeting published in one issue of a
weekly paper published in the City
I of Pascagoula. Mississippi. immediate
meeting. The members then present
shall constitute a quorum for the
transaction of business"
BE IF RESOLVED that Section 1.
Article XVI of the bylaw of the In
gals Employees Credit Union be. and
the same is hereby amended to read
as follows:
ARTICLE XVI
Section l.. On recommendation
of the Board of Directors of the In
gals Employees Credit Union, the
declare dividends from the earnings.
Dividends may be credited or paid in
cash at the option of the shareholders,
within 30 days after the declaration,
or as soon as thereafter such funds
become available"
Notice of this annual meeting will
be posted in a conspicuous place in
the office of the ingalls, Employees
Credit Union. and copy thereof mailed
to, or handed to in person. to each
member of the ingalls, Employees
Credit Union at least seven days prior
to the date thereof. and in addition
thereto a copy of said notice shall
be published in two issues of a weekly
newspaper published in the City of
Pascagoula. Mississippi, Immediately
preceding the meeting.
This the 9th day of December.
A. D., 1913.
j. M. HALTON. Secretary.
ct 1921. II