New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-01-08
INSURANCE.
CTATE or LOUISIANA,

-. INSURANCE.
STATE OF LOUISIANA. CRY, OF NEW OR.
the year Of our Lord eight any
ssb s sepe me EDWARD BARSETT Notary PUB
lie parish of Orleans, State Of Louisiana
he parties hersnnio subscribed who
State Of Louisiana relative The Of corporations
IN they have csvenaned and agreed and by
hey Rep, into and constitute corpo
and regulations following, that is to say; 80
| ARTICLE FIRST.
/ INsuRANCE COMPANY on NEW OR oRIsEANs, and its
dom hereby established in the city of New Orleans 1t
have been subscribed fer and shall
having M ~ sos II arms Of t sss
Of Louisiana and for sscpsH the Of the COmpauy
ARTICLE SECOND
The objects and purposes the Company hereby declared
lt To make assurances dwelling houses stores
sure goods wares nerchandise maebnery and other prop
a. r. make upon ships and other sea vessels
and .hsr vessels rSighs goods wares werehan
dences debt commissions profits bullion Or money and
sganst al maritime or inland transportation risks and upon
effect hre MARINE river and life insurance Of kind whso
The Company may itself any
upon Which shall have made and all citations no
shall oe served on ne President be appointed in the
| ARTICLE THIRD.
The capital stock o. said Company shall Be two hundred and
Of hundred dollars EACH to be paid for the time and in
The Company shall pay into the hands
OF the President the organization Of the Company for BUSH
subscribed BY them their notes 10 the order Of the
for the eighty dollars each share
in such the Board of Directors determine pro
than twenty dollars each share such periods may
s IN euc and IN az wo Of M be Vi gsp eT
IN ne city shall be given Of or to
thousand dollars may increased the sum Of 1--WE hundred
thousand dollars, as hereinafter provided for
ARTiCLE FOURTH.
All the corporate the Company shall be exercised by
Board q Directors composed Of nine pesn TO be elected
notices Of such election shall be given in daily
Immediately preceding election in the French and English
ian Iae gsr hs sppoRt three Inspect
cline or fail 70 attend the President shall appoint others
the fourth Monday Of the said month Of July and hold the
and qualified The st election shall take place within twenty
from the date hereof and after due notice above pro
els Moreno & al Of this city are hereby appointed Inspectors
~ ~ go n;-naa." ~ LII I All & - - ~
fee until the fourth Monday in july eighteen hundred fifty
In all elections the shall be BY ballot and those persons
RECEIVING o. votes o. te pc
place the day aforesaid the President shall another
S & take gSss Shn days thereafter and give notice
Each every shall be entitled either in person
by proxy for each and every share which he
they may respectively hold provided that Individual coIpo
than twenty aer the rst on any
crred him or them within ninety days prior said election
ARTICLE FIFTH.
Athe time Of the expiration Of the charter of the aforesaid
Or 0 ordered s ySe 81 the %
udated its debts paid under the charge and supntendence
and who shall remain office until the final liquidation Of
the affairs Of the Company.
ARTICLE SIXTH
The Board Of Directors shall atther FIRST meeting in every
elected.
ARTICLE SEVENTH.
No shall be capable Of being elected Director Of said
Company who does the time Of his election during
shares of the stock of said company.
ARTICLE EIGHTH.
The Board Of Directors shall have the to appoint such
aes clerks and employees as shall be necessary 9 the con
laws rules and regulations they deem for the
hiei with the laws Of this State the meaning
They shall tx the compensation of The officers clerks and en-
poy elected employed by them IN the service of the Com
occur in their number or in the Presidency.
ARTICLE NINTH.
ings Of the Board he shall conduct and the business Of
Drseiors n esse Of G ABSENCE he Vee Pea sbS er 9
ARTICLE TENTH.
The Board Of Directors shall power invest from time
to time the money and capital of the Company in bonds and
the parish Of Orleans which in every shall be deemed
by under United States Of this State or ofhe
aforesaid securities bonds or stock They shall have hover To
dp Sc Of mortgages obtained by way security or Of stock
faction Of debts previously contracted Or purchased At public
psny or OF any property movable OF mmogsbe, which may
eaton Of its business bnt nothing herein shall be so
construed authorize the lid Company discount negoa
reey indirectly deal trade In buying selling
able immoyabs property goods, merchandise
ARTICLE ELEVENTH.
Yearly dividends shall be made much Of the profits Of the
time making such dividends shall not be considered form
losses whereby the capital stock Of said Company shall be
essened reimbursement dividend shall be made until such dm
mutton shall have been covered aud made the profits
ARTICLE TWELFTH.
to be paid to the stockholders shall not exceed len Der
cent on the amount paid in and the balance shall be placed
when shall be the duty Of the Board d Directors
ARTICLE THIRTEENTH.
Ae the whole capital stock Of said Company shall have been
from each yearly dividend and lay by such part Of the said dy
dena ~ 'hey may aee RToPs ga iaTpa' id q not more
formed and realized be addedto the capital stock said Com
ARTICLE FOURTEENTH.
shall be the duty Of the President and Board of Directors
the Company be published French English
n at least s9 daily newpaPer published in this city, and for
the business Of the Company which statement shall contain first
cing what received for life insurance.
saSe AGAINST h w6o on marine S5g what On river pol
and designating what amount OF losses have been incur
amount ofcapita stating the portion of
curities and the nature Of the securities.
ARTICLE FIFTEENTH.
The stockholders shall be responsible for losses dam
incurred by said company beyond the Of capital
stock held or owned by him or them respectively
ARTICLE SIXTEENTH.
Any stakeholder who shall fail neglect pay any install
article third shall forfeit the Company payments
aud cease to be st0ekholder in said Company,
ARTICLE SEVENTEENTH.
No stock shall be transferred unless such transfer be made
the books OF the Company Should stockhoder desire to
transfer stock previous to full Of the having been
made he shall be permitted do by substitute Of the ob
cations Of the party purchasing provided the substituted ob
gatons are satisfactory to the Board of Directors.
ARTICLE EIGHTEENTH.
This act Of incorporation be modified altered amended
yened for that purpose after thirty days notice. In French and
English in OF the newspapers published in this city and with
the assent OF hreeourts OF the stock such
ing and any and all snnh notifications alterations amend
ments dssoGonsha be recorded and published according
to law
Thus done passed city New Orleans day.
month and aforesaid IN the presence Of James Teller
and Edward Auder, witnesses, whs hereuuo sign their
with said parties and notaries.
The original Is signed J., u. PLACE,
LABORDE XIQUEs,
JAMES ID. DENEGRE,
and others
JAMES ". TELLER,
EDWARD 5. AUuLER
EDWARD BARNETT, Notary Public
certify the foregoing to be copy Of the original act
record office IA faith Whereof grant presents
Of New Orleans, this lith day Of Apil. 1851
EDWARD BARNETT, Notary Public
The undersigned Recorder Mortgages for the parish and
city Of New Orleans state Of Louisiana cerfes that the
going charter recorded this day his Office Book Of
Society No B. olios 53i to SGD Inclusive. p. FAJ AUD