New Orleans daily crescent., 1860-12-27
INSURANCE.
CHARTER OF THE LOUISIANA STATE
" MUTUAL INSURANCE COMPANY.
STATE OF LOUISIANA, CITY OF NEW ORLEANS.


STATE OF LOUISIANA, CITY OF NEW ORLEANS
Be remembered that this twenty day Of the
o s IN hs d s Tns sst ses
America the eighty y-hfth
stoned and worn fof tie Parish Of Orleans State Louisiana
the Of the witnesses hereinafter named and
and appeared hep parties sn a re
provisions Of The laws Of The State u Louisiana relative to
h AMI aarssd r. apd 90 sa s
bind themselves and those whom they represent 70 establish an
the obiigstions sbaatons regulations following iowt
ARTICLE FlRsTThe said Company shall be established and
snssd II BY vi STATE
TAL AM Ne M Az & sa @ and r.
exist for and during the u end ana term q
sba be used BY the officers Of Company having for
Inscription the Of the Company.
oeer apon whom shall be served ali citations notices Or
legal process in matters wherein the Company may be inter
ARTICLE sEcospThe objects purposes fthe Company
FrsTo make Insurance on Dwelling houses Stores and
she Buildings HoasehSd snqs pit IRE Merchandise and other
sscoadTo make Insurance Vessels Steamboats, Freghs
Po Banf Nots Bs q Esesanse and
debt boomry and and gensay all and
every Insurance 10 or connected with Marine or In
land Transportation Risks.
upon which it shall have made Insurance
III e. are sse &c n
Ali which said parties shall tho organization of the Com
their subscription and made payable on the st q
which shall b ags py is he pe
premiums aud such notes sha be subject TO
Ali premiums made by these parties to be
paid in conformity with the rules and regulations Ct the Com
endorsed notes Of the insured until the same shall nave
No subscriber of such notes SHALL any event. be liable for
losses tic Company in any larger sum than the amount that
an5 in case at he maturity of the vsven as-s"'a
any paiancs due thereon, after the endorse
not REQUIRE he payment Of said balance such
have the right renew their notes for such balance
Ali tie Aforesaid shall stipulation that should
pay III good faith ut maturity the amount shall appear
due on his or their nS % a ana every plea OF want
ARTICLE the corporate powers of The Company
shall BY Beard Of Trustees and such officers and
TIE Board Of Trustees shall consist Of thirty three members
& he S BE- elected exeep s the rs yea on On The lat
New Orleans the acting Board shall designate Of which
advertisements in Of newspapers published in city
and they shall appoint three members Of the Company
Inspectors decline fail attend tho President shall have
The Board of Trustees thus elected shall take their seats
the last Monday in October after the ccto and shall hold the
sef shfaT ssesS sas year os' Ae' N
ed and declared dsy eesfe o no election taking
place day &ed the President shah cause an election
notice thereof by in one or more Of the newpa
The Board Of Trustees shall first meeting every
year, President and Vice President who shall, the
n od ber oce until Rer shall a eected
s ra sB q 6 ea opay # II @ eoag eo s s1s
The H. ny N gnds H. I s. S Boad
preside such meetings. and shall sign the policies of the Com
The Board Of Trustees shall tx the of all officers
and clerks elected employed by them in the service of the
They shall invest profits arising the business the
n e % n a sPe aad adan c @
laws rules and regulations as they may deem necessary and
on Of is a provided he same does not conct with TIE
true 2 ss meaning nG E @ 1T sye Of s % e @ vi e
sets for into see he oec m ana
5 q B eEs nss hs w n q
he rights and pesed | in Se pSfees1g a. article They
hundred and until others elected in their place
TRUSTEES:
S2t' 5qsay Rsy 9S;sSs y41as RsSs.son
! 5o?s GsSss sssas 5 ReiIss ssss, RssS%ssa
= Rnns hsFls n Wrsn,er J. hes g. acesqa Lseda
A i dFisa i BsaaeSsqas' S.a yslsn Iis IIlssmann
+ + : Hsss Ssansisa 5TelE Herr WI 951Hs GsBstr
and Continue to insure With he Company and every
holding his own name in the name Of his rn certificate
after provided for shall deemed member of Company
elections each certificate Of credit the books Of he
Iqsdasd nd by losses sustained aier ho
hundred doers n the amount of the certificate shall reach
dollars more shall entitled additional vote until he
the certificate shall reach the sum of FIVE thousand
to one additional Provided however certificates
vote within six months prior o such election,
ARTICLE sEyESrn-The Board of Trustees shall have the
RSHSr o by On and q ns
mbod real estate in the Parish OF orleans and City Jee
in the hn
at Isast twice the amount oaGed { thereon
pany n the pnfehass any stocks sy or under
lie laws Of the United States Of this State Of this city
any of the aforesaid securities bonds @ Or " stocks so
Ing onefontth profits but the Board of Trustees may
pehase in ADDITION any properly ca Thfh @ n may az have been
their opinion the interest Of the Company will thereby be
promoted should require such purchase save from loss
ARTICLE EIGHTu-he of the Company shall within
o the first Of October eighteen hundred
issued aud during month every succeeding
espe an estimate 10 be made % sworn TO By the Pres
ending including ssemei Of insnrances effected during he
Marine and River policies winch estimate shall Be- Conclusive
upon persons entitled receive certificates of profits
infte provided for and shall heeupon charge insurer
with proportional share Of the losses sustained by the Com
@ acc ee S Il 5h ns sr e R o o G I
nus; shall credit him with the amount of said premiums
Company derived ihvesments and for balance which
lied certificate signed by the President Secretary bear
g e The sas Of per cent per annmm payable on The
taning poyso that the amount therein named shall liable
all subsequent losses sustained by Comnany
shofd person entitled receive such certificate be
indebted Company any premiums credited TO him on
the books aforesaid and shall not have paid the at the
time certificate exgibe the company shall have right
such certificate pledge for the payment of said
Indebtedness the certificate shall issued
delivered ii shall always remain liable Company for
any Indebtedness Of the party whom shall have ev-
cred unpaid premiums whether such Indebtedness be-
the issug of the certificate thereof
shall except the option of the Trustees such
Indebtedness shall have been entirely exiinguished
certificate certificates profits shall not
be called for The parties entitled heeo within three years
from the OF their ISSUE then the shall cancelled
and the amount thereof with all the interest accrued thereon
shall the credit of the Contingent acconnt on
the the Company after public advertisement
French and English for thirty days the newspapers
published this which notice shall forth the amount
the certificate and the Of the party entitled same
In issuing the said certificates of profits ten
dollars and fractional of beweeneven dollars
shall omitted and shall be placed the of the Con
ngent account" of the Company and applied the ymen
of expenses ard charges of the succeeding year.
The certificates shall only be transferable the the
Company. and with its consent.
NINTn-Egery who shall become member
hiS Company By eecn insurance therein shall before
receives his policy pay the that shall determined by the
Trustees; and the paid shall be Withdrawn
from the Company except provided in the article but
shall liable ali the losses and expenses incurred by the
COMPANY.
ARTICLE TENrHWhenever theacenmulated profits shall
hundred thousand dollars excess may
l,ana 1D D J From war uF lan alaEn1tf