Baton Rouge tri-weekly gazette & comet. [volume] (Baton Rouge, La.) 1865-18??, 1866-11-13

of each year thereafter, or in the event of q
failure to elect, at the first election on the
first Tuesday after due election.
ARTICLE VII.
SECTION /. In all elections the vote shall
be by ballot, and those Stockholders re-
ceiving plurality of the votes of the stock
represented shall be considered duly elected
and in the event of no election taking
place on the day aforesaid, the President
shall order another election to take place
within ten days thereafter, and give notice
OF the same as aforesaid.
Q. Each Stakeholder shall be entitled
either in person or by proxy to vote for
each and every share which he, che or
they may respectively hold; provided that
no individual or firm shall be allowed to
vote more than two hundred shares In his
own name or that of his firm, at an cleo
ton for Directors of the Company.
ARTICLE VIII.
SECTION /. The officers of the Company
shall consist of President, Vice Presi-
dent and such other officers as the Board
of Directors may deem necessary.
2. The Board of Directors shall have
power to employ such clerks and employ
ees as are necessary to conduct the bust
ness of the Company.
8. The Board of Directors sh oil, at their
first meeting in every year of the Com
pany, elect from among themselves a
President and q Vice President, who shall
hold their offices until their successors in
office are elected and qualified. Other
officers determined upon according to the
bylaws to be elected at the same time,
nd 81 -
their successors are elected and qualified.
ARTICLE
SECTION /. The President of the Com
psny shall sign all policies and preside at
all meetings of the Board; he shall con-
duct and manage its business generally.
under the supervision of the Board of Di-
reetors; in case of his absence, the Vice
President shall act in his stead.
ARTICLE x.
SECTION l. 1t shall be the duty of the
President and the Board of Directors,
within one month prior to the close of
each year of the Company, to cause to be
published in the English language, and for
the term of at least one month, full state
ment, under oath, of the business of the
Company, which shall contain
l. The amount of premiums received
during the year, specifying what amount
was received for fire and river and marine
policies.
Q. The mount oflosses incurred during
the year, specifying what amount OF losses
have been incurred under each of the diff
ferent kinds of policies.
3. The amount of capital stating the
portion of the same invested in securities
and the nature thereof.
4. The amount of expense and net earn
ings of the Company, and in what these
earnings consist.
ARTICLE XII.
SECTION /. The Company shall make to
the assured such return premiums in cash
IS the President and Board of Directors
may deem expedient.
2. After paying all the losses and ex-
penses incidental to the Company, the net
earnings shall be divided among the Stock
holders pro rata and be placed as a credit
on their stock notes until the same shall
become fully liquidated.
8. When the notes of the Stockholders
shall have been fully paid, there shall be
issued to each Stakeholder certificates of
stock for the amount of their subscription
Ali further dividends declared By the Di-
rectors shall be payable to the Stockhold-
ers in cash, at such times as ordered by
the Board of Directors.
ARTICLE XII.
SECTION /. This act of incorporation
may be modified, altered or amended, or
the said Company dissolved at General
Meeting of the Stockholders to be con-
vened for the purpose, afie thirty days
notice in the English language, as afore-
said, and as herein provided for, and with
the assent of three fourths of the stock
represented at such meeting; and any and
all such notifications, alterations, amend
ments or dissolution shall be recorded and
published according to law.
ARTICLE XIII.
SECTION l. At the time of the expiration
of the Charter of the Company, or sooner.
If ordered by vote of the Stockholders,
as herein provided FIR, the affairs of said
Com any shall be liquidated, it's debts
paid under the charge and superintendent
of the comm issioners to be appointed by
the Board of Directors aid who shall re-
main in office until the final liquidation
Of the affairs of the Company.
ARTICLE XIV.
SEoTIoN /. The names and respective
IN terests of the subscribers to this act are
hereby declared to he IA follows tow;t.