The south-western. [volume] (Shreveport, La.) 1852-1870, 1866-09-19
c. Fl A RI E r
SOUTH ESTERN MUTUAL INSURANCE
COMPANY OF SHREVEPORT.

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oi tis '>te' Te'tEe 10 tIe organisation Oh corpora
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ahG 0thef purposes tey nave coFehaueq ane agreed
aha 90 hefeDy covenant ana agree, ana plhd tneth-
selves ana those whom they may represent to form
ana estapllS ana 40 hereoy estaosh corporation OF
pody corporate Tor the OBJECTS ana purposes ana IN
der the title, Obligations stpulatIons and res ula ions
following, to WIT:
ARTICLE
N The name and title Of the Company shall be the
South-a estern Mutual Insurance Company OF ShreYe-
port and its domcl IS hereby established IN the city
hVe years from the date OF organisation 1t shall com
mence operations Immediately on organisation. 1t
shall nave corporate seal having or device South
ern Enterprise ana lot an inscription the name OF the
company ana the aate oil thls act
ARTICLE H.
l. The Objects and purposes OF the Company are
hereby declared 10 oe ISL, 10 make assurances upon
dWelng houses stores cotton presses and every other
description q buildings, household furniture goods
wares, mefchahalse, machinery, ana other property
against loss OF damage by hre "a 10 make insurance
upon shlpS ana seagothg vessels steamboats, and Az
otheF vessels rel94S goods, blllS OF exchange and
other evidences OF debt commissions, profits bullion
or money ana against All maritime and inland trans
poftatlon risks, DOtomry ana responcentla interests
IN other words, to effect ire MARINE river and inland
insurance OF any KIND whatsoever, with privilege OF
exercising all or either OF SAID purposes The Com
pany may cause itself 10 be rensured against any risk
upon winch IT shall have made insurance.
2 Inc Company saail sue and be sued IN Its corpa-
rate name, and all CITATIONS ana other legal process
shall be served upon the President OF the Company.
g. The Board Of Directors shall have power to invest
from time TO time the money and capital OF the Com
pany ID PONDS ana mortgages on unlncumbered and
improved real estate situated within the limits Of the
parishes OF Caddo, DeSoto and Bosser WHICH in every
case shall be deemed worth at least double the amount
hey NAV al 80 t1a ut
the Company N any ponds or stock created by or I'M
der the laws the United States or of this State,
OF the corporations Of TINS state OF city, or make any
loah on Pieuge OF any OF me aforesaid securities bonds
TINS Investment Shai not interfere with prompt dStr
button OF net earned premiums for the current year
laey shall nave power to dispose Of mortgages OBJ
tanned by way OF sec5ty, or OF stock peged for secu
MY or OF properly conveyed to them IN satisfaction OF
deptS previously contracted or purchased at pubic
sale upon judgments or order OF seizure obtained by
sad Company, or OF any property movable or i'm
movable, which may have been pledged or abandoned
70 sad company Tor or concerning the operations OF
IT'S business but nothing herein contained shall be
construed as to authose the SAID Company to discount
negotiable paper or to do any other banking business
nor, either directly or indirectly deal or trade in buy
ing or selling movable or lmmoYeabe property goods
wares or merchandise r00fde1 also, that the Compa
ny shall have the right to purchase property or build
ing for the purpose OF establishing an Office therein
They shall fix the compensation of the officers, clerks
and employees elected employed by them in the
vice of the Company, and shall also have power to fill
all vacancies which may occur IN their number, or in
the Presidency They shall have power to adopt such
rules regulations and bylaws as to them shall seem
best for the transaction of the business of the Comma
nv zr0riRqH the same shall not conflict with the +rra
intent and meaning Of this act
Article III
j. All the corporate powers Of the COMPANY shall be
exercised bv the Board Directors 10 he elected
from amongst the stockholders; 1r0giid that after
the election of Directors for ORGANISATION no stock
holder shall be eligible who does not hold in his name
or that Of his firm at least fifty shares which stock
shall have stood in his name or that Of his firm on the
books of the Company for at least three months prior
to the election Seven Directors and the President
present at any meeting shall constitute quorum for
business.
ARTICLE Nv.
j. The capital stock Of this Company is hereby fixed
at Five Hundred Thousand Dollars divided into five
thousand shares of one hundred dollars each subject
be increased to one million Of dollars under Article
XII of this Charter and it is hereby authorised to
commence business as soon as Three Hundred Thou
sand Dollars capital shall be subscribed The stock to
be paid as follows:
The subscribers to said stock shall pay into The hands
of the President upon the organisation of the Com
pany for business the sum of five dollars in cash on
each and every share subscribed by them aud furnish
notes approved by the Board of Directors the order
of the Company for the remaining ninety five dBAlurs
payable on demand at the Office Of the Company at
such time and in such manner as the Board Of Drec-
rectors shall determines pr0JideG that calls shall be
than ten dollars on each share at such period
as may be agreed on by the Board Of Directors; ard
pr0UiIe1 FURTHER that calls shall not be made more fire.
queutly than once in thirty days.
2. When an authorised call shall be made upon the
stockholders for portion OF their stock notes, due