New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-31
CHARTER.
CHARTER. ..,.,.,..,,.,,, ,,,..,..., CHARTER
ms
COMMERCIAL INsUR ANGH COMPANY.
FHARTER
CHARTER
STATE OF LOUISIANA,

STATE OF LOUISIANA I
BE IT KNOWN that on this third day Of iGy in the wear
foS o R0RET K and Ss Public
and for the city of New Orleans and state aforesaid uy
matter named and undersigned, '0'N
subscribed who declared hat Rsae
the provisions Of Tho laws Of TINS State relative to the organi
cation Of corporations in this state to works Of public improve
and other they have coyUuauted
those whom they may repre- establsG and DO
hereby establish corp ration body corporate tort objects
and poses and under tire title, obligations ations
regulations following to-wit:
ARTICLE FIRST.
The aud title of the Company shall be The CONNER
cial auue umpauy douic hereby estal
in the city OF New rleans 1t sha and exist for
ence operations nneqatey on organ aeton 4 shall have
inscription the of the Company and the date this
ARTICLE SECOND.
sEcrtoS l. The objects and purposes Company are
l. 10 AXE insGrances upon dwelling houses stores cotton
presses every other description of buildings household
urniture goods wares merchandise, machinery and other
property, against loss or damage by ure
2 To make inspranres upon ships and seagong vessels
,teaInhoats and Al. other vessels Freight goods bulls OF
exchange and other evidences OF debt commissions profits
bullion money, and against al m tme and inland trans
words TO eject ire riverand inland insurance OF
any kind whatsoever with privileges of exercising all
The Company may itself to be reinsured against any
SEc The Company shall and be sued in its corporate
and all CITATIONS, and other legal process shall be
sAo The soard Directors shall have power invest
bonds and unncumbered and improved real
situated within the limits OF the parishes Of urean
Jefferson which every shs be deemed wrth least
double the amount loaned thereon.
They also invest the profits Of the Company any
bonds stock created by under the laws of the United
staes or Of a State or OF the corporations OF this State
cufities bonds stocks any collateral ht adns
provided this investment all with the prompt
q net earned premiums for the current year
They shall have TO dispose Of mortgages obtained by
ed or purchased at public sale npon adFmep or orders
or mmovable which may have pledged abandoned
but nothing herein shall be
do y @ bnSng W s'sg9w ng6o re paper 81 10
recty deal trade in buying selling movable mmovabe
the Company shall have the right purchase properly
employees elected employed by them service the
may occur IN their nuRber or m the Presidency.
them shalt seem for he transaction Of the busi.
with intent and meaning of this act.
| ARTICLE Ta1RD.G
SECTION l. An the corporate powers of the Company shall
elected from among The socShodefs royied sat a he
election Of DIR cors for organization tockhoder shall be
least fifty shares, which stock shall have his
| three months prior to the election - ="
Nine Drecors presen. any meeting shall constitute
ARTICLE FOURTH.
SECTION The capital stock of this Company is hereby
shares hundred sars each subject to 10 increased
three millions doais under article twelfth Of this char
ter hereby authorized 10 commence business as soon
as S3g0O0O capital shall be subscribed The paid
as follows s.
The subscribers the said pay into the hands OF
the of FIVE dOa ia cash ch every share
subscribed by furnish approved by The Board
of Directors the order of the Company for the
nnetytve dollars payable demand at the office the
Company a such time and in such the Board
made xcept pay losses, and then by nstments Of not
than dollars each share at such period may be
aereed by the Board Dirsctors and pr further
hat calls shall not DO made more frequently than in
SEC 2 When authorized call shall be made upon the
Stockholders for any portion Of their stock due and
gal notice shall be Stakeholder such call by
the Secretary Of the COmbany Upon the failure Of any to
holder t. pay the ansuut due on such call made and
such notification, the stock owned by him shall EXPOSED for
sale at public auction; and should it bring Of
the amount called tor ana EXPENSES OF the sale said
shall be paid over e the person the legal representatives.
owning the stock prior to the sale
The Purchaser Of the Aforesaid shall be compelled to
assume all the liabilities such stock notes etc held
Company against said s orkh lder.
The release Of the delinquent Stakeholder frsm liability
his stock notes shat be at the discretion Of the Board
sKC That no stockholder shall ever be held liable or re-
sponsibs FIR the coutr of said company in any
further than the unpaid Balance due the company on
the shares owned By him.
made on the honks Of The company should any sockhoder
desire 70 transfer his stock previous 10 fall Of the
stne Of the obligations of the party purchasing provided the
substituted Obligations satisfactory to the Board of Di
rectors. t"
ARTICLE FIFTH. ..-.- 81
hr on9ay Of May OF each the office of he compa
Notices Of such elections shall be given Tor least
cuVe days mmed ey preceding the election in French
in Engllsb and in at least OF the city papers
SEC Board shall appoint three stockholders Inspeo
70 preside ut such elections and If Of said
decline Or a 70 attend tae President shall appoint others
Article SIXTH.
SECTION The FIRST Board of Directors shall consist Of the