Show of the ogden building Bull Buil dinc dint and saving the following constitution has been selected by the committee appointed for that purpose and will be presented for consideration at the next meeting of the building association it ia is now given to the public in order that those who have already joined or may bere hereafter after do so will have an opportunity to con al eider der them carefully and be in a position I 1 to adopt them sugg suggest est such amendments amend mente as may be thought desirable constitution ARTICLE 1 title and object this association hall shall be known by the name and etyle style of the AND SAVINGS OCIA tia TION X and shall have as its object the accumulation ofa of a fund by thin the savings of the members thereof sufficient to enable every stockholder to invest his savings safely and speedily and to purchase liase J f tat tate or to invest as it may be deemed behim most profitable and that each member may have the benefit of aggregate capital which cooperation produces J ARTICLE IL II 11 the number of shares of this association shall be limited to three thousand of the par fildi of one hundred dollars each ARTICLE ill no member shall be allowed to purchase from the association more than thirty hares shares ARTICLE IV any person in in possession of ot one or more shares shall by signing the constitution and by bylaws laws I 1 have hard obligated himself to astric strictly ay iy obey the regulations of the association shall be considered a it member ARTICLE v sec see L 1 E euch ach and every stockholder for each and every share of stock that he may hold bold in this association shall pay the sum of fifty cents subscription fee and the sum of two dollar dollars on or before before ahe first tuesday in each and every month thereafter to the treasurer until the value of the whole of the stock shall be sufficient to divide to each share of stock the sum of oane one h hundred un dollars sec when ach each and every shareholder for each and ever every share of stock shall have received the sum suin of one hundred dollarson dollars dollar sor or property to that amount ibis association soi shall close seq seca 1 in case cue any stockholder shall neglect neglector or refuse to pay his ills monthly dues and interest as often otten as the same shall be payable as aforesaid afore aid each and every stockholder so neglecting or refusing shall forfeit and pay such fines as may maybe be imposed upon him be in the bylaws sec see 4 in case can aur any stockholder not riot having taken a loan or loans shall neglect or refuse tot td pay bis his monthly dues or fines for the space of six months each shall receive receive from the treasurer the amount of dues actually paid into this association by him win without interest first deducting all fines and dorfie forfeitures iturea that may be charged against him and also bis his proportion of all losses incurred and from thence shall ceabe to be a member of th this is Asso association ciati sec see 5 stockholder wishing to withdraw from the association after the lapse of one year shall be entitled to receive after one months notice the full amount of the money they ha have ve paid d in with six sit per cent interest film deducting their share of expenses and find loles losses provided I 1 however that if more shares should be ordered withdrawn than the amount of money in in th the e treasury at such time mav may be ell icat nt to pay then the applicants for withdrawal shall receive the amounts due them in the order in which the notices required have been filed with the secretary sec G stockholders wishing 9 to of the association repay a joan loan bought ceball be entitled to deduct euch such an amount of the premium paid from the amount of the loan eo so returned as the board of directors may direct ARTICLE VI gee sec I 1 the officers ef of the aw elation shall consist of a board of thirteen directors to be elected annually the directors at their first meeting shall choose from their own number 0 r a president denty vice president secretary and treasurer and shall appoint from In members embers of th the e association a building co committee to consist of not more inore than f five ive member members sec 2 the annual meeting of this association shall be held on the second tuesday in june of each and every year beaw between een the hours of seven and nine p m in v public ic hall in the city of Og ogden deti of which due notice shall be given by the secretary of the association a at t least thirty days in advance gee sec 3 in case cue of any vacancy occurring in any of the offices of the association either either by death resignation or otherwise the vacancy shall be filled by the board of f Dir rectors ectore and the member eo so appointed shall serve until the next annual keetin meeting and until his successor is elected and qualified ARTICLE VII see 1 each ach and every stockholder for each and every share of stock that he or they may hold in this association shall be entitled to receive loan of one hundred dollars from this association but no laore see 2 loan loans to the amount of f one or more hares shares shall be grant ed td to the highest bidder at the stated monthly meetings whenever the funds in the treasury shall warrant it in the event of there being no purchasers ur chasers the association shall have ava the privilege of investing their funds in such manner ae as the bo board ird of directors may deem expedient for the benefit ef of the association sec 3 whenever t stockholder has proved that he is entitled to one or more loan loans before re receiving ceia W the same he shall give to t the he association security either by pledge mortgager other legal paper papers fire insurance policies or other shares bf stock the directors shall first satisfy them themselves that the security is sufficient in case SL person neglect for one month mouth from the day the lean loan is purchased to give security for such lorethe loi ethe interest for OBO one bionta month shall be charged to the loaner and the money be lie re turned to the association unless otherwise determined sec 4 no stockholder shall be entitled to a loan ician who is in arrearage with abe association P property r fyhn in any part of the county 0 of f weber V be taken aa as security lor for loans with the consent of two thirds of the Dire directors cors but when situated outside the city of ogden stockholders shall pay to the committee of investigation a compensation for their services when situated in the city of 0 ogden a majority of the board of directors shall approve odthe of the security and shall 1 be sufficient af to grant the loan sec 5 any stockholder entitled to a loan who halda more than one share and shall purchase won money e fro from in the association y I 1 by v making the same known a at the time of the purchase be effal entitled at the same premium per shares as far as the amount in the treasury at the time of sale may permit sec sm 6 st stockholders ock holders who have obtained loans from the capital CaPit alOf of the association shall pay to the treasurer every month interest at the rate often per cent per annu annum in for each hundred doll dollars am if the interest is not paid for six months the directors may require the payment jentof of interest and capital and fines proceeding according to the law a against ainest the security given into their bands hands seca sec 7 any stockholder payin paying the month monthly ay instalments installments on his stock for any period in advance ce shall be credited with the amount so 90 paid in advance but no interest for any sum or amount so paid shall be allowed to such stock stockholders holders pay ing in advance ARTICLE VIII vill the annual meetings of the stockholders shall be held on the second tuesday in juno june in each and ivery year r fifteen members the board of ai directors rectors included iball shall constitute a quorum special meetings maybe called by the president through the secretary or at the written re of ten members member 9 but the object t of such meeting must be inserted ina in the notice ARTICLE IX 11 each member shall be entitled at I 1 any election or upon any any other occasion to one vote and no more inore without reference to the number of shares he or they may possess A majority of all the votes cast shall he ve necessary for an election transfers of stock to t enable a stockholder to vote must be made at least thirty days betor an election no vote by proxy a shall hall be allowed the officers to b be e voted for are tire to be nominated at the lost last regular stated meeting previous to the el election ec and the time for such meeting eeli shall be publicly announced through ru g ug such papers a rs as the board of directors ahall earl provide ARTICLE X sec L 1 the thc members shall be enaid entitled ed to frame alter or rescind bylaws by laws for the better government ef of the association the same must not fot be repugnant to thu this constitution nor contrary to the laws of utah territory sec 2 the board of directors may enact bylaws by laws for the management of the business entrusted to them by the constitution and bylaw bylaws however under the same restrictions strict ions ARTICLE XI the constitution shall not be al te amended except at annual or special meetings and by a vote of two thirds odthe of the members then present the members of this association Ase ocia shall be notified whenever an alteration or amendment of this constitution is deemed necessary aud and actually takes place in one 4 or r in utah more newspaper pers published territory |