New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-08-18
CHARTER.
CHARTER ,........."...,.. CHARTER
THE
COMMERCIAL INSURANCE COMPANY.


City of New Orleans !
BE IT KNOWN that this third day Of July, the year
Beore me, ROBERT JOSEPH EER Notary Public in
and city of New Orleans and aforesaid uly
and qualified and in of the here
Personsy came aud appeSred The parties whose names are
hereunto subscribed who declared that aang themselves OF
cation corporations in this State for works of public
other a they h9yo aSS sn5 am
whom they epens to form and establish and do
and parpcse and under the title Obligations stpuaons
regulations following, to-wit:
ARTICLE FIRST
The name aud title the Company shall be 1.-THE CONNER
eia INSURANCE Company and m d9mg hereby established
twenty five years the OF organization 1t shall com
operations Immediately organization 1t shall have
inscription of the Company and the date of this
ARTICLE SECOND.
SECTION The objects and purposes of the Company are
hereby declared to 10:
presses every other description of buildings household
iunitnIe goods 0s r m & anu 0'ne
q To make upon ships and seagoing vessels
exchange and other evidences Of debt commissions profits,
bullion money and against all m rme and inland trans.
words effect fire, marine river and inland inrancs OF
any kind whatsoever with privileges of exercng all or
either of said purposes. .-, -.-
The Company may Itself e be rsnsured against any
SIC The Company shall sue and be sued in It's corporate
all citations, other process Ds
sEc s. The hoard Directors shall have power invest
bonds and mortgages unncunbered and improved real
sts within the limits Of the 81 TS al
double the amount loaned thereon
created by under the laws Of the United
States Or state Or Of he q TINS state or
cuTtes bonds stocks collateral or bill Of adngi
Provided this Investment int rere with the prompt
dist button earned premiums for the current year
They shall have to dispose of mortgages obtained by
Of of,
conveyed them in satisfaction of debs previously contract
seizure obtained by said Company properly movable
mnoyabe which may have been pledged or abandoned to
but nothing herein cGnaine shall be 50 Construed
do sny other bsnSlg 6Ssness nor either directly or ind
recty deal trade in buying selling movable or mmova6e
RS Gopaay sha have the Right purchase property
TbeV Shall x the n the officers clerks and
employees elected employed 6y them ia the service the
may occur in tasir number or the Presidency.
They shall have to adopt such rules regulations and
laws them shall best for the TRANSACTION Of the bust
nsss 9 The Company PToydea re same sha not cOA'
ARTICLE THIRD.
SECTION l. All the corporate powers q the Company shall
BE- exercised By the board Of rect to BE-
election Directors for organization stakeholder shall BIT
y SaTe oa hs has haRe his
that of his firm on the books Of the Company for atea
three months prior to the election,
Nine Directors meeting shall constitute
ARTICLE FOURTH.
Section l. TIE capital stock this Company is hereby
fixed million Vt dollars divided into ten thousauC
millions of dollars under article twelfth Of this char
and it is hereby authorized business
$500 capital shall be subscribed The stock to be paiC
The subscribers to said stock shall pay into the bands
the President the organization Of the Company for bust
the of five doas in cash on each and every hart
subscribed them and furnish notes approved by the Boart
of Directors 70 the order Of the Company Tor the remaining
ninetyve dollars, payable demand at the oce OF the
Company, such time and in suc as the Board
Directors shall determine provided that no calls shall BIZ
exc IN
than dollars on each share at such parod as may 81
npop by the Board Of Drectors and provided further
that calls shall not be made more frequently than once
thirty days. 1g.t. II, IT,. -, a. T., :. = a.,
Stockholders for my portion Of their stock nete Que ant
sganotice shall be given each Stakeholder Of such call by
holder to pay the anHunt Que on such call so MADE ana at
such notification the stock owned by him shall De exposed 70
the amount called or and expenses Of the SAFE said e
shall be paid to the Cor the legal
/ owning the stock prior 70 the sale
The purchaser aforesaid stock shall be compelled
assume all the liabilities such stock notes. etc. held by Tia
| COMPANY against said Stockh lder l.5z. aa ~
The release OF the DELINQUENT stakeholder from naoi
upon his stock notes. shall be at the discretion of the Board
Eo b That no stakeholder shall aver be held liable
spopsble for the contrats Or aGs OF SAID company in an
further than the unpaid balance due to the company
SEC No stock shall be transferred unless such transfer
made the books of the company should stockhode
desire transfer his stock previous full payment Of III
same having been made be shall De 10 DO SO g
stue of the obligations of the party purchasing provided h
substituted Obligations satisfactory to the Board Of d.
| rectora. -
SECTION The election for Directors shall be held tn
st Monday May of each year. the office Of The company
such elections shall be given tor at least ten conse
IN Tngiis and IN nj eSst two Oh he eity papers
SEC TIE Board shall appoint three stockholders lnspe
decline fail to attend tue President shall appoint others
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