Amended charter petition for the Florida Educational Loan Corporation, 1956 (includes cover letter by Garland Powell, pr...

Th* Voe Ofc I Floridat" -


AY R IF STATE AND UNIVERSITY RADIO STATION
IW A 1 Gainesville, Florida

July 11, 1956




Dean Robert C. Beaty,
Dean of Men
128 Administration Building
Campus

Dear Bob:-

Enclosed is a copy of the Amended Charter,
as adopted by the stockholders and approved, on
the 18th of June by Judge John A. H. Murphree of
the Circuit Court of the Eighth Judicial Circuit of
Florida. It is now a matter of record and it will
guide us in the future, as to the operation of the
Educational Loan Corporation of Rotary Clubs in
Florida.

Please bring your copy to the meeting
on July 24th, in Gainesville, so that a study may
be made in connection with the adoption of the bi-laws
for the operation of the corporation.

With all good wishes, and kindest regards,
I am, as ever,

Faithfully yours,




Garland Powell, President,
Educational Loan Corporation
of Rotary Clubs in Florida

GP;mb
End.








5000 Watb 850 Kilocycle








IN THE CIRCU CC! OUTRT Or FLORIDA
\EIGfT1 JUDICIAL CIRCUIT, IN AND
ALACIUA COUNTY.


In the Matter oft
FLORIDA EDUCATIONAL LOAN COR~lRW IOI, )
a Flridsa oepratien not for profit,
hermfter to b kneIm as TR; DOCAIOSAL
LOAN CRiOPtATION OF ROTARY C7LUt II
FLORIDA, a Florida operatit not for )
profit.
(


WrIZT!OWr PlR 1)7fiAPW~.OVAL OF Ur~


Petitter, Florida Edouational L4an Corporation, a
ezrpratite not for profit undr the law of the State of
Florida, by its uadersigned attorneys sayes
1. That its charter ws, by Order of the above styled
Court, approved on the $1st day of October 1922, the *am beinr
filed and neerdtd in Iaxeroratit Record Xe. 2, Pa e 420 of
the pWblic reords of Alach County, Florids.
2. That its charter wra, by Order of the abe styled
Ceart, amnew d ea the 34th day of COteber 1947, the sam being
filed and reserded in Inoerporatien Weord No. 4, Page 288, of
the pkilic res rds of Alaha County, Florida.
*8 That year Petitioer did, an the 12th day of Jae
9SS, by proper resolution daly adopted, resolve that the n=e
of Florida Edneatienal Lean Corporation be hereaftor ohanped
to The fdotional Lean Corporation of Rotary Clubo in Florida,
and that ea amndld charter be adopted providing as fillowes
ARTICLE I.


The name of this corporation shall be "Th Edfeational
Lean Corporation of etary Clube ino Florida', a orperotien net
for profit, and its main office shall be located in Gaineville,
Alacha Cweuty, Florida.
ARTICLE II,
Object
The object for %hish this orporiatieon is fotexmd is to


-. CMArE







preoete, aid, asist, and Oeeoarage higher odsaatio n the
8tate of rlorida by lending monoy at a lew rate of interest
and by giving grantsaia-aid to any worthy yweg man or yams
wmen, who io a resident of the State of Florids, to complete
his or oher clleoe eduaetit at anr aoeredited institution of
higher learning located ti the State of Forida. Provided
hover, that all funds of said oorperation a hand as of
30th Junm 1956 together with all interest aacxring on l1ans or
investants made ftr said funds after said date, shall be
used solely for the purpose of aidift yowun men or yeoun
women, who quality, to complete their oellsov edWuctiea at
the University of Florida. All ftnds received by said oor-
poration after 30th June 1956, emept these funds heretofor
excluded above, shall be used in aiding young men or yeoun
womrn, who qualify, to complete their oolloeg education at
any accredited institution of higher learning located in the
State of Florida. Provided, however, that no lean or grant-
in-aid heretofore mentiond shall be made for an athletic
scholarship.


Qualifionations of embers.
Any member of a Rotary Club in the State of Floride and
any Rotary Club in the State of oridas shall be admitted to
membership in this corporation upon purchasing one or nore
shares of steak at One-hundrod Dollars ($100.00) per share.
AMTCLE IV.
(am. as Article IV of Original Charter)
Tose
The duration of this corporation shall be perpetual.
ARTICLE V.
Officers and Directorn to anMa
the Affairs of the Corporation.
Seetian I Tohe aanagemt of this corporations hall be
vested in a Board f DirMetors of sot les than six directors.
On or before 1 July 1956 each Gorernor of *ach district of Rotary







Internatiomel l ttl State of Florida shall appoiat two -mbers
tfm his district to ser n the Boa rd, a mbor beiaq ap-
pointed for a tern of eon year Iad em amber being e pp lted
for a term of two years. Thereater, on or before 1 July of
oeeh sIcoeding year each gvorner of each district of R tary
international in the State of Florida shall ppeoint one member
from his district to serre on the Beard for a tera of two year
or until his succeIsor is duly appointed.
Section 2. The executive officers of this corporation shall
be a Presidet, VtioePrelident mad Serotary-Treasurer. SAkh
esmxntive officers sall be elected by the Board at its annual
meeting which shall be held during the month of July of each
yer. The Board shall have pewor to fill any vacancy in the
Board or in any other office.
Section 3. Direoetrs and all other officers hall serve with-
out oup'ensation, except that by a unaninoa vote of the Beard,
the Searetary-Treasurr may be paid a salary of set to oxomed
Fifty Dollars ($50.00) per month.
ARTICLt VX.
Officers who are to manag the affairs
of the Cerporatieo
Until the first election.
The nmes of the officers by who the affairs of the cor-
poration will be mamiged until the first election under this
amended charter shall bea
President Garland Pwell
ViteoPresident John DO Harris
Secretary-Treesrr e- felin A. Orahan
ARTICLE VII
(Same a Artielo VZII of Amnded Charter)
by-laws
The By-Laws of this corporation shall be made, altered or
reminded by a majority vote of the Board of Directors.







ARTICLi VIII.
Limit ot Indebtedes.
This expertise shall not iamer mry iadmbted ss me~
for salary to 3eenrtary-Tresurer, as provided homrel boe, sad
for expeamss aeseees to eWry y t the *bjets *f its Charter
sad amsamnts theret*e. o part of the priflp hal bhll be m*.
peIded for expenses of any uatur ems pt by appsevl of tweo
thirds (3/8) of the Beard *e Diresters
ARTICLE rX.
Vetinag
Beh stoekholder may vott either in person or by written
PWXAT AT IaI ANNUAL NUXTIN OR ANY SPECIAL MEETING OF TI COOR-
ORATUoN.
ARTICLE X.
(Same as Artiacl X. of Original Charter)
Pewer to old %eal Estat*
This oerperattea hall not have the peowr to hoel real
*etat* by purehaes but may old real estate by gift or devois
WKEtPORE, y er Petitteor pray that this Hmeorable Cuert
will mae and enter its Order in asoerdeane with Seeties 117.02,
orids 8tetates 195S, approring its amended hbarter as above
set ftrth.
Respe+tfally sabitttd,

ASWoWs, D&ELL, AMAPn & MILLsZ



P. 0. Box Mha
Ginesvi lle, Florid
Attorney for ottit tear







WTATE OF FLORIDA,
COUNtT 0? ALACHUA.
Pereemlly appeared before -a QGearWnd Pwll of Qafite
vtUle, A1.ehws Cea ty, florida* wrh betai to a well khmw and
having bees by sm first d~ay sarn depeoeu an4d syss I an
the adly elected Pr 4sldnt of Flrierds ECduatiotel LWma Coriorattao
a* eserat"m met for profits I have rso the above and foreo
glRg Petititon sad the matter. and tMhngs therein set irth are
true.

1,, ULrisad Pewell.............
garland PmoUll


Morn to and mberibed before
ao this 1~th day of June, 1956.




My nmirssio epiros Jan. 1, 1 957







ORDER


The above and foregoing Petition for approval of
amended charter of Florida Educational Loan Corporation,
a corporation not for profit, having been produced before me for
approval and it appearing that the provisions of Section
617.02, Florida Statutes 1955 have been complied with, the
Petition is herein and hereby granted. The name of Florida
Educational Loan Corporation is hereafter changed to The
Educational Loan Corporation of Rotary Clubs in Florida and
its amended charter as therein set forth is hereby approved.
DONE AND ORDERED in Chambers at Gainesville, Alachua
County, Florida, this 18th day of June, 1956.


Is. John A. H. Murphree
Judge