New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-07-26
CHARTER.
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COMMERCIAL INSURANCE COMPANY.
STATE OF LOUISIANA. !

City of New urieans I
BE IT KNOWN thst on third day Of July, year
Of Lord laeggsPd siShs bgndEsa aud sSysz
Ns ssss ab s hhe ar sSay Eqs sS
nopeu and qualified and p of the witnesses
aIy appeared The parties whose names are
subscribed who declared that awaiting themselves of
the provisions Of The laws of this State relative orggn
corporations in this State for works of public improve
and hereby agree and bind themselves and
those whm they may emit to form and establish and
and poses and under title obligations tpuations and
regulations following, to-wit:
ARTICLE FIRST
The name aud title Of the Company shall be 1.-THE CONNER
cA Insurance Ompeny and its domici is hereby established
years the date ct organization It shall com
menee operations Immediately cation 1t shall have
inscription the of the Company and the date this
ARTICLE SECOND. ...-.
sEcuoN l. The objects and purposes of II Company are
hereby declared to fe
aud every other description Of buildings household
properly against loss or damage by ire A-N V'-e
70 mase nsurauees upon ships and seagoing vessels
exchange and other evidences dent commissions profits
poaon rss boomy respondentis interests in other
words 10 effect fire. Marine river and inland Insurance.
any kind whatsoever with privileges of exercising all
lhe Company itself be rensured against any
rs r. upon ", Ihcn It shall have made insurance
SEC The Company shall and be sued in its corporate
served ON The President Of the Company
SIG The sosrd Directors shall have power invest
from time to time the and capital of the Company
bonds and on and improved real
Jefferson which IN every case s Be deemed nth A. leSSt
double ths amount loaned thereon.
They also invest the profits of the Company in anv
bonds or oek created BY OF under the laws Of the United
On make any loans on pledge o. any Of the aforesaid
eurites bonds stocks collateral bill lading
q net earned premiums for the current
sa nave power 10 dispose OF mortgages obtained by
conveyed to them in satisfaction of previously contract
ed OF purchased at public sale judgments
setue OF movable
mmoysbe which may have pledged or abandoned to
SAID company for concerning the operations business
but nothing herein contains shall be
any banking Business nor either directly or ipd
recty deal or trade in buying selling nmoyable
The Company shall have the right purchase property Or
All 6 III tbe e95s e sSsgs m IN s9ce sheLeh
employees elected employed by them in the the
may occur in their nuaber or N the Presidency.
They shat have ado9t such rules regulations
laws as to them seal seem best for the transaction of the bust
ne Of zoe Company provided TIE same shall not conflict
with the true intent aud meaning of this act.
ARTICLE THIRD.
SECTION An the corporate powers the Company shall
b exercised BY the board Of twenty-five Directors
eeeon Of Directors for organization stakeholder shall be
least 6arss which stock shall have stood in his name l o.
t me- on The books Of the Company for at least
Nine Directors present at any meeting shall constitute
ARTICLE FOURTH.
sEouos l. The capital stock Of this Company is hereby
nSed at one million of dollars, divided Thousand
S uods article tSR o h RGs ehaf
ter and hereby authorized commence business as soon
g S3uOU capital shall be subscribed The psd
The subscribers to the said pay into the hands of
ih g9n the organization of the Company
ness the sum Of i've dollars in cash each every share
subscribed by them AID furnish approved BY he Board
q DIRECTORS 70 the order Of the Company remaining
netyFlVe aolas payable demand at the office Of the
Company at such time and in as the Board Of
Directors shall determine provided no calls shall be
made pay then by ipSnlents of MAJ
more than ten dollars share at such period m NAV he
agreed upon by the Board Directors; and yded further
hat calls Shall not be made frequently than once in
sEC 2 When authorized call shall be made upon the
stockhoders f9r any portion Of their stock notes due and
nS eeretar the Gomoany Upon the failure any Stock
loder ~ pay the amount due such CALI made and after
ueh the stock owned BY him shall EXPOSED for
le AZ upe uctlon and should bring in
he amount called for and the sale said ak ess
a pc paid to the Tor the legal representatives.
1%5IIhthB the STOCK prior 70 the sale.
The purchaser Of the aforesaid stock shall be compelled sn
lsstme AL the iabteg such stock notes etc held ~ TIA
Company against said Stockhllder. - -
The release OF the delinquent Stakeholder from liability
hs stock notes shall be ut the discretion Board OF
sEc 8 That no stockhnder shall ever be held liable mr. m
ar me CONTRA 70 faults OF said company in any
sum than the unpaid balance the company Oh
s4c No stock shall be transferred unless such transfer he
aae on the books OF The company should any tockhoder
sIe 70 transfer MS stock previous to full payment of the
heen made shAi be permitted TO do by sub
ttue Of the obligations OF the purity Purchasing provided INA
Obligations are satisfactory the Board of D
ARTICLE FIFTH.
SECTION The election for Directors shall be held nm ba
rat Monday Of May Of each year office Of Inc Gonna
oces Of such elections shall be given least ten conse
tive days immed tey preceding election in French and
Engsb, and In at least two OF the city pspers
SEC Board shall appoint three stockholders Tnspec
RS 80 preside at such elections If any Of said eeor
i in their stead RI IT ''1'''o "
AsrrcLE SIXTH.