New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-06-22
INSURANCE.

INSURANCE.
in the Lord thousand eisa! hundred my
leu tie eighty me- Edward George sses
leans duly commissioned ' and swe persenay
and the parties whose hereuno sub
s q Lonisiane e
and these covensnt agree and BIND
themselves those whom hey represent form themselves
the Objects and purposes under the stpulstons fsgua
tons and obligations following, to,wit ~
- ARTICLE -,,.s.,..s.,s-...,z
This Company shall be established and domcated in the
Of THE Star Insurance Company It shall
.nbseribe and shall exist during twenty i've years
BY at ea the Of he
Company. shall seat with device upon same
device shall be a star"
ARTICLE H. -.-
The objects purposes Of this Company declared
Firsto make dwelling stores other
secondTo effect marine assurances upon vessels eghts
missions profits bank bills Of escange and other evil
make ali and every insurance apperanng connected with
marine inland transportation risks And in general to effect
kind Of insurance and all insurance objects
And this Company may cause itself to be rensued against
any ri.k which may have made shall make nsu
person on whom serve citation in all suits against the Com
pany.
ARTICLE III.
The capital stock Of the nd Company shall be three hundred
dollars to be divided into three Thousand shares of
npon the q 1e st Board Directors
order Of the for an equal amount each and payable
which said cash payment and receipt shall be given by
the President and sectesry Of the Company and
certificates of stock for the Of their ubscrponspro
vd that q shall bs lawful TO SCRIBE
shall he allowed interest the Of even
The shares the capital stock formed shall be considered
be as s o
And stakeholder shall in any event. be liable for losses
the Company beyond and above the of his subscription
ARTICLE ". ..H
BY @ s af oas shall be .ss
deem Said Directors shall be elected from among
ss place he oaa i shall n city
f .o N ssy sa
this city The Directors thus elected take their seats
same during one Year thererom until their successors are
But should such election happen from
Il Il re-
qusdsd, which shah within The shortest possible delay
all such elections for Directors those receiving
setsa OF 'hs votes 'e'0a' na DC considered a"s
every five shares of stock he may own; provided
individual firm corporation shall be entitled
than twenty And provided also. that shall
10 hin sn
The Board of Directors thus elected shall their first
Of S Who III
his n Is hy ss ss
for the proper managemeno the affairs Of the company
at ali meetings Of the members Of the ompany and be shall
ssan he Bda s II g. SEM
the policies of which shall also be coauersg ed by
Board often in his Judgment it be
Rsden for the interest Of the company Int there shall be
and detailed statement Of the affairs Of the company sh" he
always be open to the inspection Of the ocEhoers
Board Of Directors shall IS the compensation Of all e
shall the P9 so Of the sv , y from h time to Tine
bylaws they deem necessary and convenient for The
Of the company not contrary this act OF
tons they shall fix the of premium which assurances
shall be effected by ms and they shall hsye power
corporation and to fill all vacancies that may the Board
have TO appoint Of their members any
provided he the &c Sp to in stead
time az The duties and powers .', Of the President
following sombose the Dee
2rs E FU5,ta F BGEsf' 6 " ossR J ti
borne j. = syle, whose Of service shall
until the second Monday Of June eighteen hundred fifty
eight e5e or until their successors duly qualified.
| ARTICLE V.
Atthe expiration Of every six months from the organization
I sd St @ @ be 1d BSaP a
TO be by the Presideu
hsv acg be during s nj
which shall be Deducted the actual losses and and
of the net profits made reasonable portion sail be re
Sided for PROVIDED not less than ten per cent such profits
retained until such fund completed and the balance shall
divided rata the sockt olders and paid them cash
| ARTICLE VI.
shall be lawful for Board of Directors the fund
Of Company in bonds and MORTGAGES on unncunbered an
erson They may also the funds Company
stocks created By under the laws Of the United States
stocks And the Board of Directors may generally invest I'll
vantageous interests contrary the provisions of TIL
Or to the laws Of this sSs and all loans on pledges
The pobed from hGnE any real
by the Board Of Directors majority the sockloiders
used the Office Of The Company Provided however tn
any property wrh eay be pledged to the c9mpar
ct s s s OF f in nf h &c The 1Iss
resell such within reasonable time not exceed
express purpose specially convened should consent that Il
same be held by TIE Company
J ARTICLE VII
There shall be created BY The Board Of Directors sepsra
proportion Of not less than ten per cent Of the net profits
tanned for that purpose y provided for in Article and Of
from any other than premiums And this fund hs
be sn% os s D, S,T Sn s s
until said contingent fund shall amount to Two hundred thou
Be- vd dsf p wG hs h he
time and in the the semisnnual dividends
And the said fund of two hundred thousands dollars sh
always he held rs protection to the capital as we'll as the
sured.
ARTICLE VIII.
At the expiration Of this Charter sooner if rdered BY
pay Shall be quidatea, its debts paid and the divd
ne the ShaES s and m Of three
This act Of ton may be altered and amended by
ing the stockholders convened for that purpose, povd