New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-05-25
INSURANCE.


peent witnesses sign with the parties
Tine original slEnsd f 1AGI + F phNEGkH
y. " boGARr q and doh others
s M hhiiSIRk
Il. G. GOTTSCHALK n. p |
certify the foregoing TO be true Of the original act on
In faith Whereof grant these presents under signature
and the impress Of seal Of office at the City of New Orleans
''''' '''''e''' D'' i. G.. GoTTscHALK Not Pub
parish and city Of orleans cer'ie that the foregoing has
recorded this day in his office, in Book Society No. A.
INV Signed JOHN HOLMES ls RECORDER I'D y;
STArE OF LOUISIANA, CITY OF NEW OR.
the year Of eight hundred and fifty
@ n nsfs S'sf Of Sy
lie for the parish of Orleans State Of Louisiana aforesaid
the parties whose names are her RI 3D. who Sse
a sf" oa sse sxs the e e 81
in this they have coysaned ana agreed @nd 90 BY Sse
they form into S and Gou e9p0
and regulations following that is to say:
ARTICLE FIRST.
S n Of
domictl is hereby established in the city of New Orleans It
thousand dollars shall have been Snbscr for and
corporate seal having for device The cont Of arms
of Louisiana for inscription the Of the Company
ARTICLE SECOND.
The objects and of the Company are hereby declared
st To make dwelling houses stores cotton
nure goods wares celaud1e machinery other prop
ID 70 make in1rancss upon ships and vessels,
steamboats, aud other vessels frsights, goods wues merchH
dences of debt, commissions profits money, and
sgans, all maritime or inland transportation risks and upon
effect fire. MARINE river and life insurance of any kind wha'so
The Company itself be reinsured risk
which it shall have made insurance and all citations
|
eresed shall be served on ne President appointed in the
ARTICLE THIRD.
The capital stock Of said Company shall be two hundred and
OF hundred dollars each to be paid for at the time aud in the
The subscribers the said Company shall pay into the hands
President upon the Of the Company for bust
subscribed by them and furnish their order of the
bic on dem at the opce Of ala Uompsny at such tine and
in such the Board of Directors determine
than twenty dollars eSsh hsrs sueh periods
,cs IN French and EnEh in at least two of the daily papers
published in The city, shall De given Of payment or payments to
thousand dollars be increased to the Of five hundred
thousand dollars, AS hereinafter provided for,
| ARTICLE FOURTH
All the corporate the Company shall be exercised by
the second Monday July IN each year at the Office Of the
notices Of such election shall be given in at eaS, daily
mmedpey preceding said election in the French and EnssR
preside elections and amy said inspectors
cling fail attend the President hail appoint others act
fourth Monday the said month Of July, and hold the
and qualified The FIRST election shall take place within twenty
s d @ Ba sef Eugene oon 3
els Moreno Jr al of this city hereby appointed inspector.
be he G%paH i"
c until the fourth Monday in July eighteen hundred and fifty
In all elections votes shall be ballot those persons
coSsdesd " iof The no %
f on s DAY ys & hs 4s I v spS @s,
oil the same as atos esa,l; l., !, ,;.,, ,, - ~
or by proxy to vote for each and every share which he she Oh
ro or c"pay s S be- tt % gteasr nmbr Of Vo
than t. eqy nor 10 vote ner the rs Gle ton on any share
ARTICLE FIFTH.
AT the time of the expiration of the charter of the aforesaid
hereinafter provided for affairs said conpany b.
and who shall remain in office until the final liquidation
ARTICLE SIXTH.
The Board of Directors shall at their first meeting in
dent who shall hold their Office until their shall
ARTICLE SEVENTH.
No person shall be capable OF being elected Director Of s
Company who does the time of his election and durn
his continuance Office hold in his in that of tn
commerei4 house Of which he may be partner ut least tie
shares OF the stock of said company.
ARTICLE EIGHTH.
The o"r9 Of Directors shall hGye the power to appoint sue
officers clerks and employees as shah be necessary for the con
uc1ing Of the business Of said Company and TO odn such by
Government Of sai GompGny pr9ydsd the same shall not cor
e with the laws of this State the true intent and metun
L. they shall fix the compensation the officers clerks
J. pa6y and Shall also have power to in ali vacancies which ma
C occur in their number OF in the Presidency
e ARTICLE NINTH.
The President shall sign ali policies, aud preside all
ng1 of the Board ns s% ondst and m9Ge th o"S"esi
Directors in Of Lis absence, the Vice President shall
|; ARTICLE TENTH.
The Board Of Directors snail haye power to invest from Tin
"a encountered and improved real estate situated
the parish of Orleans, which, shall be deeme
| thereon
invest the profits , Company in my hogdi or stock GeS
of s hs or or mS '" ON a s e any GSSt
pledged for security or Of property conveyed them in sat
pon mpnis oifs sHe by said Cor
st have been "aoncS said Gomy for or conecrnng the
eraions of its business but nothing herein contained shall be
bic paper or to do any o,er o,oE pso@ nor either
able or immOvable property, goods merchandise.
ARTICLE ELEVENTH.
Yearly dividends shall be made of much of the profits Of
te Company appear advisable the proportion Of pr
miuns received risks WHICH shah not be terminated at
g. Ing parts of the profits Of the Gomny and in case Of any /
al Iesscncd subsequent dividend Shall be din
Nv mutton shall have been covered and made up by the profits
Vs. ARTICLE TWELFTH.
n II the yearly dividends be declared, aforesaid
amount to paid to the ockGe! s1 net , exceed ten
The s s'f s of pn S %s o G ss os p m
in certificates the stockholders for Jul paid shares
ARTICLE THIRTEENTH.
After whole capital stock of said Company shall have he
the Board Of Directors shall have the right dCd
each yearly dividend and lay v such Of the said di
ed they deem proper. until surplus fund Of not
o realized added the capital stock OF said Co
paDy.
ct. ARTICLE FOURTEENTH.
ed President and Board of Drecto
Of month from the close expiration of each
Company 10 he published, in French and Fngli
act inIy published in this city and
the month, rI statement, under oath
100 business Of the Company which stene" shall contain
100 Of premium received during the previous year,
400 cifyu what received for life insurance, for
O fire, what marine policies and what river
Ma the losses incurred during the
40 ciyug and designating what Hmon OF losses have been inc
100 by the different kinds Of policies aforesaid third
the portion of the invested In
jn) curies, and the nature Of the securities.
poo ARTICLE FIFTEENTH.
The stockholders shall not be responsible for losses d
wv incurred by said company beyond the amount OF
Wv stock held owned by him or them respectively.
@ "p ARTICLE SIXTEENTH.
WN Any stakeholder who shall fail neglect pay ms
ordered by the Board Directors provided 70
nm, article third shall forfeit the Company all .iOus
0IJ | and to he a stakeholder in said Company.
O0J ARTICLE SEVENTEENTH.
stock shall be such transfer be made
the Company Should any st0ckhOlder dehrt
touil of The having
made shall he permitted do by substitute of the
CATIONS of the party purchasing, provided the substituted
OJd cations satisfactory the Board of Directors.
mn ARTICLE EIGHTEENTH
This Of incorporation be modified altered amend
5l0 Company dissolved, general mretng to be
Fam thar purpose after thirty days notice, in French
O English OF he newspapers published In this city and
the OF three tUurt of The stock represented at such nj