New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-13
CHARTER.
CWARTER. ,.....',,...... .........,, CHARTER
OF ISIS
CHARTER
COMMERCIAL INSURANCE COMPANY.


STATE OF LOUISIANA
BE n KNOWN that on this third day Of July in the year
Of our LORD one t39ESeTd eight hundred and sxtysx
land for the city of New Orleans aforesaid ouy
ana and IN presence OF the witnesses here
Personally came and appeared: The parties whose names are
the provisions of the laws Of this State relative to the oran
9I o. ~ '1s state 9F works Of public improve
and 90 hereby and agree bind themsey md
hereby establish corporation body corporate Tor ne osc
and under the title obligations supuatons aud
regulations following, to-wit;
FIRST
The aud title of the Company shall be The CONNER
ca Insurance Company and It's docl hereby esubshed
twenty five from the date organization. 1t shall com
coPoTe having for dsvs5 Gom@atc ana oT aa
inscription the name of the Company, and the date this
ARTICLE SECOND
SECTION The objects and purposes of Company
l. 10 axe assurances upon dwelling houses stores, cotton
presses ana every other description Of buildings household
furniture, goods wares, merchandise, machinery and other
property against loss or damnge by fire
bteamboets and a other vessels freight goods bills Of
sXghange and other evidences Of debt commissions profits
9ullon or money and against all Rhine and inland
P9r portal rig b2omy respondepta interests other
muus 70 eeet IRE marine river and inland insurance, Of
any Kind whatsoever with privileges of exercising ali or
CgmP9ny may Gapse itself to be rensured against any
risk upon which it shalt have made insurance
SEC The Company shall and be sued in Its corporate
name and AL citations, and other legn process shall be
SIC j. he.soard Of Directors sBai have power to invest
from time to time the money and capital Of tie Gomnan N
bonds mortgages on uHncnmbeed and improved pea m
situated WITHIN the limits OF the parishes orean, and
Jefferson which IN every case shab be deemed w.rh least
They may also invest the profits Of the Company in any
bonds or stock created by under the laws Of the United
States Of this State Of the corporations this State or
city make loans pledge any of the aforesaid
provided this tut rere with the olabt
distribution earned premiums for the current year
They shall have power dispose Of mortgages obtained by
way Of security or OF s9c pledged for security orof property
ed or purchased at public sale upon judgments orders
seizure ohntd by aid Company or any property movable
@heh may have been pledged or abandoned 90
sad Company for or concerning the operations Of its business
hoae The said company to discount negotiable paper
DO aGy 2th[ hantnS business MI either directly ud
property goods wares Or meTchande provided also that
5aaHE of the PURPOSE Of esia6Rhg an ecs Rc S OF
They shall fix the compensation of the officers clerks and
Company, and shall also have power n all winch
they sha have power To- a5oo such rules and h.
laws them shall best for the trauscon oftbe bust
with the true intent and meaning Of this act
ARTICLE
SECTION Al the corporate powers Of the Company shall
elected from among the stockholders provided that after the
egyngo 81 Directors iRE no stGcka9der 3hs be
least fifty shares which stock shall have stood in his
ibfsa months Prior to the election '0Dp'' ''"
Nine Directors pesen. any meeting shall constitute
Article FOURTH.
sEcroY l. The capital stock Of this Company Is hereby
5es Y me ndd q dSr ac p9 a5ee 9f se
three millions Of dollars, under article twelfth Of
ter and is hereby authorized to commence business
SJV capital shall be subscribed The stock paid
The subscribers said stock pay into the hands of
the President upon the organization Of the Company for bust
the OF Ave dOa in cash e-ch snd every hare
subscribed by them and furnish approved by the Board
OF Directors the order Of the Company for the remaining
ninety dollars, payable demand at the office Of the
Company, such time and in such the Board
Directors shall determine provided thRtno calls shall be
made except pay losses and then by nstuments Of
than ten dollars Oh each share such period be
upon by the Board Directors provided further
TINT calls shall not be made frequently than in
SIC When an authorized call shall be made upon the
Stockholders for portion Of their stock notes and
legal notice shall be given to each Stakeholder of such call
the Secretary Of the Company Upon the failure any Stock
such notifications the stock owned by hn shall exposes
sale At public auction and should It bring In Of
shall be paid to the person Tor the legal representatives.
owning the stock prior to the sale
The purchaser Of the aforesaid stock shall be compelled
a the abilqes such stock notes ETC. held vile
Com pany against shid Sorkh IlGer
gpon his stock notes shall be at the discretion Of the Board IL
$40 B. That no stakeholder shs ever be held liable or re.
sPpDe to the contracts or nu - Of ad company 10 any
further sum than the unpaid balance due to the company
the shares owned by him
made the books Of the company should stakeholder
desire transfer his stock previous full payment the
same having been made shall be permitted to do BY asub
stue Of the ubgaBns OF tbs party purchasing provided the
substituted Obligations are satisfactory to the Board Of D
ARTICLE FIFTH
SECTION The election for Directors shall be held on the
first Monday Of May Of eash year the 5ce Of the company
Notices OF such elections shall be given tor at least
in English and in at least the city papers,
SEC IT, Board shall appoint three stockholders Inspec
decline tail to attend tue President shall appont others
act in their stead.
SIXTH,