New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-09-14
- 49, -'
INSURANCE.

STATE OF LOUISIANA, CITY OF NEW OR
> EANs.Be it Known this eighteenth day Of May,
and Of the Independence Of The United States of
"1y @ nna Gs or y city Ks% Gs
leans, aforesaid duly commissioned and sworn personally
s
Ions the ss OF e sins n Of of lana reavs
agreed and do these presents covenant agree and Bind
CONSTITUTE and establish an nc rompM |
tons and obligations following, o-wit
ARTICLE 1.
This Company shall be established and domiciliated the
of THE Star Company 1t shall commence
It's business so soon half Of its capital shall
from the date hereof unless its affairs should sooner iiu.
Company. shall have seal with device upon the same. me-
ana the name Of Tue Company on the margin thereof and the
The objects and of this Company declared
FirstTo make insn.ances dwelling houses stores
buildings, household furniture merchandise other property
second-To effect mare upon vessels reghs
s1tanno"'s Seod' wares merchads specie bullion com
deces OF debt bottomry and repondentin interests and to
Or S5 f X IN to ese
every kind Of insurance upon every and all insurance objects
And this Company itself to be rensued against
any k upon which it may have made Or sh" make su-
The President Secretary the Company shall be the proper
pauy.
ARTICLE III.
The capital stock of the Company shall be three hundred
thousand dollars be divided into three thousand shares
hundred dollars each for which each subscriber shall
upon the organization Of the Directors and for lie
balance he shall furnish hi. ee several notes to the
respectively four eight and twelve months from their date
the President Secretary the Company upon Payment
Of last of said three notes the [ bs shn be
vded that shall be lawful subscriber pay
shall he allowed interest at the rate Of even per per
TIE shares in tie capital stock 50 formed shall be considered
personal property and shall be according such
rules and under such restrictions the Board of Directors
And stakeholder shall any event be liable for losses
the Company beyond and above the Of his subscription
ARTICLE ".
All the @ FG%s1 9I g G0ppany shall be exercised
and anhot to appoint such officers and clerks as t6er
deem necessary. Directors shall elected from
such place as the board shall designae in The city
of New Orleans which days notice snI be given il
this city The Directors thus elected 10 take
during ys therero or until their successors
elected But oIa sHc ELECTION napptn iFq any eT,e
case deemed dissolved Board OF Directors
qualified which shah be within the shortest possible delay
all such elections for Directors those persons receiving
elected.
In each stakeholder shall the right
by pf@Ny a, well As IN person. ana he shall be entitled to on
one Individual n or corporation Shall ever be entitled to NOR
than twenty votes And provided aso that no person shat
fe5tsd IN within ninety DAYS yops to an election
me iioHn o, eGtns ,ho efSaeu na nc ie nfst heet
body President, who shall hold hi,
nS o ics AZ ifsy ma; deem eSpedei and
ioT ime ro;g M M cue ali ~ e Of S1 , d ava
all meetings Of the members of the Company and he shu
6n he 'Bs Of Sire " H. duty 10
me grr, VI "l HAVE the riht Il" conyote 1 -
the Board often in hi' Judgment it be
sae n 'T p ,y of aT ey mo at 11t u
ana detailed statement h o. Inc %Mf o te company o'
aTMy oe oEer 70 ,ne 9pSE" q, 'e n IL
1" d d. gnIy% s HH ,e y ~ o. q" m
shall invest the pTohs OF me company from time to time
bylaws as they my deem nscssary aud convenient Tor II
proper EGHeEG E o. nr not contrary TO ths act
tio2' snsy s9" nH 'e t, T psTq h a" %hS rac,
do generally all act; necessary to ont the objects Of III
corporation ana 10 MI a.! gNcHIces nay may 9cen in ne 'r'
have Of 'etr members
during Snc 4bsen"e or IN whom Shn be yes'edlot tn
For the rsyear thai This Company into operation Il
following named Subscribers shall compose the Board Dec
Pcfre ? A. faud,, A. F. Elliott, ~ Gique, wr.G. GA
until The second Monday june eighteen hundred fit
eight, NS58J until their successors duly qualified
ARTICLE v
, Ark otfI Of }cc6s S be- the n we of Ia acrT
this Company under the supervision Of tue Board Of Director
and Secretary Company, showing amount Of earn
premiums have actually been received during that time, fro
which shall be deducted the actn loes and expenses, and
sufficient reserve s he retained for unsNpired ko The
tanned towards forming contingent fund hereinafter p
sided for provided not sa th Ten per cent OF such pr"tts
retained until such fund is completed, and the bgInUct shah
divided pro rata among the stockholders and paid them
ARTICLE VI.
shall be lawful Tor the b9ard Directors to invest the IN
of the Company in bonds and mortgages nnclHhcrr Il
improved real estate situate in the parishes Of Orleans and ]
stocks created BY or under tie laws of the United States
ms state or 81 t Guy FI may loan "no ,e se'% OF 81