The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-21

City New Orleans Parish of Orleans, State Of Louisiana
aforesaid duly and personally and
appeared the parties whose hereanto subscribed
who declared that svsins themselves Of the provisions Of
the Statutes the State of ouisana relative the organizs
ton Corporations this State they have covsnanted and
agreed and do BY these covenant and bind
tnmseves those whom they represent form them
selves Corporation for the objects and
PURPOSES and der the spulsons and regulations follow
ing. that's tosay;
ARTICLE FIRST.
The name and title OF the said Corporation shall
LOUISIANA EQUITABLE LIFE Insurance COM
PANY, and its domc hereby established in the city Of sev
dollars shall have been subscribed tor and shall exist for
twenty Eve from The date hereof and ID, any such Sugc
this State ID shall have TO contract sue and be usd
ans nss S.ss for %
device Pelican feeding its e name and appoint srch
nence require and 70 create ssd establish bysxs
for the regulation and management Of Its AFFAIRS all In Its
ARTICLE SECOND.
The objects and Of sad COMPANY to make and
enter s manner OF eoa,es ana ior insurance
Of insurance every kind aud nature whatsoever for the in
sDS 6g to he
any wise sppe,tainng The said Company mag cause ssf
be taken by said Company and for its beaeh
other obgst issued BY corporation
An citations notices., and Dther legal Wherein the
to be appointed in the hereinafter provissd for
ARTICLE THIRD.
The capital :.oc. q ssS Company shan be ave hundred
Of one hundred dollars each 70 be paid for At the time
and in the manner following, towit -
hands the PRESIDENT upon business the
Of zen dollars ssIa aaS Of stock
demand at the office the Company aer fifteen days notice;
psny hould exceed amount Of available hand
pay the same The said capital stock Of FIVE hundred
hoders extended to amount not to exceed Eve million
ARTICLE FOURTH.
All the corporate powers Company shall be exercised
by Board fifteen Directors Ave OF whom shall constitute
The following Stockholders hereby constituted
as % 81 p sps with all the
e. E ss:sa 49, H.
1sSGnd o,dc m ss MS,; Smith Sd..s BsIs.
The Board shall their first nesting in every year elect
from the stockholders President for said Company,
shall preside al meetings Of the said Board the
Company and shall sgn all the policies shall conduct
and control Of the said Board
Tothe the service the whole number Of
said Board OF Directors snail expire at this Of
and the said Board shall by lot be divided
BE- d Known IN a. sss e
ORR, class second and hira class the term Of whose
class in year. hat Of the second class In two years and
day Of April in each every there shall be
holden At the Office Of the Company the city of New Or
the q Directors, pac.
said election notice sss thar than
shall be given by public advertisements in two
Directors meeting of said Board, prior any such
TO appoint three % not
perntepd and conduct the and TO certify said Board
decline fail to attend the Prssdsnt shall have the
appoint other. 70 al the vacancies Sohing in tni.
bic TO reelection to said Office Of Director.
duly elected and shall take their seats on the first Monday
Of May after the election and sia hold the same ust
taking the day fixed the President shall
.o pc neo ~ % " ana snail %
shed the cit, Of New Orleans repeating the sane
Zach and every stakeholder shall entitled either in per-
proxy to vote for each and every share which
tions shall be entitled TO greater number Of VOTES than
TO share transferred 10 him them within
ninety days prior to such election.
ARTICLE FIFTH.
No person shall capable b.ng director Of said Com
pany who does The time of his election during
continuance in Office hold in his that
firm Of which may partner ten shares OF tke
stock Of said Company .De be holder Of policy Of
his ber.ht for the Of at least Eve Thousand dollars
ARTICLE sIxrH.
The Board Of Directors shall Of the compeu-
the
time TO time as hereafter provided or they shall make and
Company and tie rs and
sSd With x. s s. st % S id a. The
meaning act they shall have full power 20
which may be carry into full eject the Objects
and purposes Of the and they cha. also have
or in the presidency.
ARTICLE SEVENTH
The Board Of Directors shall power to invest from
time % time the money and capital Of the Company in bonds
and mortgages unucumbered improved aud unimproyed
real estate situated in this city which, in every case shall
They may also invest profits the Company any bonds
stock created by under laws United States
OF s s
BY asvs pc
security property conveyed sstsfa ton Of
or b. - sss
Of any property movable or nmoysbe which may have been
items Of lis business but netting herein contained shall be
mercantile or agricultural business, nor in eomSissiOn
brokerage stock jobbng exchange banking business
right purchase properly building Tor the purpose Of ss
| tsblishng their office therein.
ARTICLE EIGHTH
No shall transferred transfer be made
the books Of the Company at their place Of
the Of New Orlesns and transfer shall while
sccihsdsr Wishing transfer stock may
be permitted do by substituting the obligations OF
posed Be- su6ssitSsd b. II every ss
e the Board Of Director. And the ssd Board Of Director.
security rom stakeholder whenever they the
The sOcEbosers .Ss not Be- responsible for o..e. or
damage Incurred BY said Ggmpsny beyond the amount of
| ARTICLE NINTH.
In the month OF April of each year the President d.
rectors Of the Company shall make
the proper officer OF the Company profits
and losses Of the Company, and all
paid into the Company for OF premiums
preceding twelve months and by whom paid
ments shall be verified by affidavit and fled with papers
Of the Company for sxsmsson and OF ali
interested And shall appear nom such statements tn
the ptohts OF the Company do exceed its losses and
penses by than cent its stock
President and Directors shall make dividend the
holders and shall not award return premiums the
but such percentage shall be
psny fsnd future losses liabilities
But ii shall from such that the profits
the Company exceed It's and bv
per cent Of its capital then the President aud Directors shall
and apart portion thereof than
cent than half Of such they may
deem be kept by the Company reserved fund
and the residue Of such shall be rstesby spPoroned
and divided between the several stockholders and insurers
according 70 the OF stock held each Stakeholder
and the amount Of premiums p.d BY each and hall
order the centsge be paid TO the
return premiums and the dividends asarded
hoosrs hs be entered credit their stock respectively
until fully paid.
ARTICLE TENTH.
Any policy Of insurance issued by Company for the
use benefit or advantage Oft he wife WIDOW children father
mother OF individual shall be held made liable
Tor any debts contrsets engagements OF the whose
LIE or may be so insured and all such insurance IN the
event OF the decesse Of the whose life be