New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-08-26

II,426 Kennedy, sH 1850
ii, % %:t +; k%s' wv v" s. S%SS
INSURANCE.
STATE OF LOUISIANA, CITY Of NEW OR
in the ysa Of hqd hpdsd @
s
Notary Public in and for the e Of New Orleans parish Of Or
nd x the se v ws are h @ sub
oaissns rsisvs P phs Or
of IRA in this have
themselves and those whom represent themselves
tons and obligations following, to.wit
This Company shall be established domiciated in the
city New and shall be known and by the
half Of capital stock
@ r and shall exit ,6o M
dated by voc of least two @ q the members Of the
and the name Of the on the margin thereof and the
ARTICLE II.
objects and purposes of this Company declared
Fr-To make dwelling houses stores
buildings household furniture merchandise other property
SecondTo npon vessels freights
steamboats, goods wares merehsnd!'e specie bullion com
dences Of debt boomry and respondentn interests and
mark all and o s T
kind Of upon every and all insurance objects
And Company may itself to be rensured against
risk upon which ii may have made shall make insu
Secretary Ct the shall be
whom to serve citation In all suits against the Com
| ARTICLE III.
The capital stock the said Company shall be three hundred
dollars be divided into three thousand shares Of
hundred dollars each for which each subscriber shall
the OF his subscription onetorth cash. immediately
the organization Of Boarof Directors and for the
balance he shall furnish his three several promssoy to the
respectively twelve months their
the President Secretary Company upon Payment
certificates stock for the Of their Subscrponspro
% It shall be lawful scribe
shall allowed interest the of even) per per
The the capital stock formed shal be considered
rules under such the Board Of Directors may
| prescribe ,,,,,,
the Company beyond and above the Of his subscription
| ARTICLE ".
ds the n S @ shall Sss
and authority to appoint such officers and clerks rs they
the on the rs Monday june IN each year
enn hs . y s Be the
French and English in two Of the public papers published in
Monday succeeding their election
uFHE as p their
Place b hs @ Bos1 Of s ee n9 that
Office shall continue until their elected and
ID whSh shall be within the sho['es, possible delay
plurality actually cast, shall be considered duly
elected
In all elections each stakeholder shall have the right
g S as % aa he ne ar s en9
individual firm corporation shall be entitled
have the right vote stock that have been
6e Board Of thus sleced sha at ,Se FIRST
ing Annually and before proceeding 70 any other business elect
his is eIeccd they shall appont secretary and
as other 0s as y my s pe %d
The President shall preside at all meetings of the Board and
Vision Of the board Of Directors Il Shall be lis dn t" Sci
the Secretary He shall have the right c9nvoke meetings
peden the interest of the But there shall be
Least %9en % the Of s Sy Of %9 at whh
submitted them for deliberation and such statement sha
TIs Board SF Directors sel fix ne of all tn,
hn Se e the from e to m
hereinafter provided for they shall have adopt Scf
@ e. the Inc contrary to this act
IONS they shall tx the rates Of premium at Witch insurance
shall be effected by this company and they shall have power
eop osi and to may occur cen o
power appoint Of their members any person
provided he be member Of the company e act his stead
tme al he Ses and powers the Prsds" Ina
following named subscribers shall COMPOSE
toT: ?. For;taI, v Bosar, {, " Logan u: P P, g
S .ssn @ S. ,$s
eight, lS5S until their successors duly qualified.
ARTICLE V.
the expiration Of every SIX months from the organization
this Company the supervision of the Board Directors
estimate to be made and to by the PIesiden
have actually been received during that time from
shall be for unexpred risks Then
out of the net profits so made reasonable portion shall be re
s pS as mot les aa ten per aS sne sS
divided rata the stoekt olders and paid them in cash
ARTICLE VI.
1t shall be lawful for the Board of Directors invest the fund
real estate situate in he parishes Orleans and
feon They also invest the funds Of the Company in al
this State or Of city, and may loan upon the security Of
funds of this company any they may
its interests the provisions of t
stock specially PEoiP }1e oa;nr rsa
building may deemed advisable and conyener
BY Board Of Directors and majority of the stockholders
S the B"ad Of scior paea,
at any fpTce sale Of the Il in Their opnon The
of the Company should require But it shall be their dny
year majority Of the stockheders meeting for tn
specially convened should consent that til
same be held by the Company
ARTICLE VII
There shall be created By the Board of Directors
tanned for that purpose provided for in Article Of
any other than premiums And this fund
not be touched Except for the payment Of losses after the pr
contingent fund shall two hundred thou
M p he
time and in the same manner as the semannual dividends
And the said fund Of two hundred thousands dollars she
always be held as protection to the capital we'll AS the
ARTICLE VIII.
Atte expiration Of this Charter sooner, if ordered by
wo.this of the stockholders the affairs Of this Con
pay shall be qndated its debts paid and the assets divide
apponrsd for that pupoe by majority of the
This act OF ncoIpor 9n may be altered and amended by