Court Order - United Federal Savings Bank of Vin, United Federal Savings Bank of Vin_4/1/1985•'i.: .
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FEDERAL MUTUAL CHARTER
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No. 37titi
SECTION 1. CORPOHATE TT'14E. The full corporate title of the F'eJcrol S�vings
Bank iierehy chartered ie United Federal Savings Bnnk of Vincennes.
(?'.,rmerly United Federal Savings arid Loan Ass.n. of Vincennes)
S2CTION 2. OP1?ICE. Th�, home offlce ehall be located at Vincennes, in the
Coun[y oP Knox, $tnte of Tndiana.
SECTION 3. DURATION. The duraCion oP the Snvinga Bunk 1a perpceu.�l.
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SECTION 4. PURPOSL� AND POWERS. The purpose of the Savinga Bank iu to pursue
any or all of the lavFul objectives of a Federal Mutual Savings
Bank chartered under section 5 of the Home Ouners' Lonn Act and to
exerciee all the express, 14pliad, and lncidental powers conferred
thereby end by all acta amendatory thereof and.aupplemental thereto;'
aubJect to tt�e Constltution:and lawe of the United States ae
they are now in effect, or ae they may hereafter be noiended, and
eub�ect to all lawFul and applicable rulee, regulatione, and orders
oP the Federal Home Laan Bank Board. In addition, [he Savinga Bank
may m�ke any investment and engase 1n any activlty as may be
sp�ciPlcally authorized by action of•the Board, including author-
ization by dele�ated authority, 1� connection with action
approv2ng the ieauance oP the charter.
SECTION 5. CAPITAL. The
on savinga and
by the Board.
Savinge 8ank may raiee capl[al by accepting payments
demand accounts and by any other meana authorized
SECTION 6. MEliBERS. All holders of the Savings Bank's savinge, demand, or
ocher authorized accounta are membera of the Savings Bank. In
the conaideration of all queationa requiring action by the membera
ot the Savings Bank, each holder of an account shall be permitted
to caai one vo'ce for each alUG, or fraction thereof,:of the with-
draval value oF the member's account. No member, hoWever. shall
cast more than 1000 votea. Voting may be by proxy, whlch 1e
pub�ect to tha rulee and regula[ione of Che Board. Any number of
members present and voting repreaented in person or by proxy,
at a regular or specinl mee[ing of the members ehall cunetitute'
a quorum. A majority of all votes cast at any meeting of the
members shall de[ermine any question. All accounts shall be
non-aesesable.
SECTION 7. TRUSTEES. The Sevinga Bank shall be under the direction of a
board of truatcea. The authorized number of truatees slinll not
be fever than flve nor more than Cifteen pereona, as fixed in
[he Savinge Dank'e bylnwa, except that the number of trusteas
-may be lncrenaed to a number greater than fifteen vlth the prior
approval of the Board or its delegate. Bach trustee of the
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Savings Bank shall be a member of the.Savinge Bank. Members
of the Savings Sank shall elect Crustees by ballot: Provided,
tha[ in [he event of a vacancy on the board, the board of trustees
may fill such vacancy, if the members'of the Savinga Bank fail
to do so, by electing a trustee Eo serve until the next annual
meeting of the members. Trustees ahall be elected for periods
of three yeara and until their auccessore are elected and
qualified, but provision ehall be made for the election of approx-
imately one-third of the board each year.
SECTION 8. KESERVES, SURPLUS, AND DISTRIBUTION OF EARNINGS. The Savings
Bank shall maintain for the purpoae of ineeting losses the amount
of general reserves that�the Board requirea by regulation; such
reservea.shall include [he resexve required for insurance of
accounta, Any loases may.be charged against general reserves.
The Savinga Ban& shall distribute ne[ earnings'on_.its accounta,•�-�..,.:. �+^ �;,.;.��� '
on such basis and'in accardance with such terme and conditions
aa inay from time to time.be authorized by the Board: Provided,
that the Savings Bank may establish minimum-balance requirements
for accounts to be eligible for distribution of earnings. •,
Ail holdere of accounta of the Savinga Bank shall be entitled
Co equal.dis[ribu[ion of assets, pro ra[a to the value of their
accounts, in the event of voluntary or involuntary liquidation,
dieaolution,.or vinding up of the Savings Bank. Moreover, in
a:�y such-event, or.in any other situation in vhich.the priority
of auch acccunta.is in controversy, all euch accounts shall, to
the extent of their.vithdraWal.value, be debts of the Savings
Bank hav2ng che same priority as the claims of general creditors
of the.Sav3nga Bank not having priority (other than any priority
arietng or reaulting from consensual subordination) over o[her
general creditors of the Savings Bank.
SECTION 9. AMENDMENT OF CHARTER. Adoption of any preapproved charter �
amendment pursuant to sections 544.2 or 544.3 of the Board's "
regulations_shall be effective upon filing the-amendment vith the
Board in accordance vith regulatory' procedures, after auch
preapproved amendment has been submitted to'and approved by the
�em6era at a legal meeting. Any other amendment, addition, alter-
ation, change, or repeal of this charter muet be submitted to
an�i preliminarily approved by the Board prior to aubmission
to and approval by.the membera at a legal meeting. Any amendment,
addition, alteration, change, or repeal'so acted upon and
approved shall be effective upon filing with ihe Board in accord-
ance vith regulatory procedures. . ,
Attest: �
Jan ce L. Beealey
Secretary of Savinga Bank
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By:. I a���
Horace A. Foncannon, Jr.
Preai en[ of Savings Bank
At[est• �
Secretary to the Board
1 Ho Loan Bank Board
By:
Ed in J. ay
Cha
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Declared effective this 16th day of'January, 1985
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