The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-18
INSURANCE..
CTATE OF LOUISIANA,
CITY OF NEW ORLEANS.

-
CITY OF NEW ORLEANS.
Belt known that on this day of March, the
year One thousand light Hundred aud Stxty-Eight-
Beio me- Marcel T. rucros Notary Pubic in and for the
City New Orleans Parish Of Orleans State Of Louisisns
aforesaid duly commissioned and sworn personally and
appeared the parties whose hereanto subscribed
who declared that svang themselves of the provisions Of
the Statutes ousians relative to the organize
ton Of Corporations this State they have covenansd and
agreed and do by presents covenant and bind
themselves and those whom they represent TO form them
aud constitute Corporation for the objects and
purposes and ulder the spulAtOns and regulations follow
ing, that is say:
ARTICLE FIRST.
The name and title of the said Corporation shall be the
LOUISIANA EQUITABLE LIFE Insurance COM
PANY, ard domc is hereby established in the city of
Orleans shall business as soon as one hundred thou
dollars shall have been subscribed for and she'll exist for
twenty hve years Io ths gate heo az "a sPs
this State II shall have 10 contract sue aud be sued
PERSONAL TO mse and use common seal having for its
device Pelican feeding its Young to name and appoint such
require and - and establish BY Lays
for tae regulation and management Of its affairs all In its
ARTICLE SECOND
TIE objects and purposes of sad Company to make and
enter al manner of contracts and Tor
onsursnee kind and nature whatsoever for The in
set ans thing to hs business Of life belonging IL
any wise sppersining The said Company may cause sef
be reinsI loss which
may be taken BY said Company and for its BENEFIT
other obi g4tons issued or u be issued BY corporation
All citations notices, and ther legal process Wherein the
be appointed in the hereinafter proviaed for
ARTICLE THIRD.
The capital stock Of said Company shah be five hundred
thousand dosr divided ioo S1 on shares
and in the manner following. to-vit:
hsnos resident upon Organization for business
Of dollars each and share of stock subscribed
by them the remaining ninety dollars share payable on
demand the office Ohe Company after fifteen days notice;
demand to be made only the losses The Com
pany should the amount Of available assets hand
pay the The said capital stook of 1--WE hundred
thousand oollars may be by twothrds vote the
holders, extended amount not TO exceed five million
D'A''" ARTICLE FOURTH.
All the corporate powers Of the Company shall be exercised
by Board fifteen Directors five OF whom shall constitute
The following named Stockholders hereby constituted
The mt Boar o. D eetors AND invested with all the rights
Be- BE- stone: Ms Ts;;I$s::S5 % %5:..
George A Fosdck, Marshall j. Smith, Edward Barnett.
from among The stock6oidsrs PRESIDENT for said Company
who shall exoiei9 be member Of said Board and VINO
Company, and shall sgn all the policies shall conduct
sn coSi2e o q bs e aid 'a'
Tohe The service of the whole number of
said Board OF Directors snail expire this end Of each
every the said Board shall by lot be divided into
class and shall be rspectisey designated ana known as the
hrs class second class ana third class the term of whose
class in year. hat Of the econd class il two and
cav Of ApT in each and ever Sear hs1saer there
holden At the Office Of the Company in the city Of New Or
he Directors election for plaza
and Of those whose term service ha the expire of
which said election previous notice. OF not less than
shan be given by public advertisements in two
election to appoint three competent not directors in
peuterd aud conduct the md to certify said Board
dps f.ii to ssd Ibs PridSnt S h ne % 20
appoint others I'LL the vacancies Nothing in this
bic to reelection said Office Of Director.
Those receiving plurality votes cast sh be considered
Of Msy after the election, and shall hold tbs same usl
taking the day Fixed, the President shall
election g. be held within ten days thereafter and shall give
lsbed in the cit Of New Orleans repeating he saIe,
zach every stakeholder shall entitled either per-
by 10 vote tor each and share which he
tions shall be entitled greater number of thy
nor to share transferred 10 him them within
ninety days prior to such election
ARTICLE FIFTH.
No person thabe capable Of bsin director of said Com
who docs not he time Of his election and during his
mercia firm which he may be stuer shares
stock OF said Company mo be the holder of policy Of
his benefit for the Of at lsass five thousand dollars
ARTICLE Sixth.
The Board Of Directors shall Of the compeu-
sstion OF all officers clerks and employees of hs Company
time to time as hereafter provided to they shall MAKE and
nSS Of b Company and T Of % anG
alter and change the same at pleasure provided the same
tent and meaning Of this act ihey shall have full power to
which may be Necessary to carry into full effect the objects
and of the Company: and they shs also have
power TO I'll all vacancies winch may in their number
in the Presidency.
ARTICLE SEVENTH.
The Board Directors shall have power invest from
time time the and capital Of the Company in bonds
real situated in this city whc7 in every shall
they may profits the Company any bonds
stock created by under the laws Of the United States
State or make loans or pledge q any Of the
ties bonds Or stocks They shall have po"sr to dispose Of
Of conveyed to them in satsfa Of
judgments or orders Of Obtained BY said or
of property movable mmovable which have been
It's business but nothing herein contained shall
construed TO authorize the said Company engage
mercant le agricultural business, in commission
brokerage stock 0bbng exchange banking business Of
right to purchase property building the purpose Of
| tAblishing their Office therein.
ARTICLE EIGHTH.
No stock shall transferred unless be inside
he city Orleans transfer shall while
2 sS on s ess 81
be permitted to do by substituting the obligations of q
70 bs 81 ii be IN every sstisfscory
TO the Board Of Decors And the said Board Directors
shall any time have the right require additional bond
security stockhoder, whenever they deem the
| curl o the deferred payment insufficient
The stockholders sha not responsible for losses
damage Incurred by said Company beyond the Of
ca1ta held and owned by him them respectively.
ARTICLE NINTH.
In the month Of April Of each year the President and Di-
rectors of the Company shall make
the proper officer the Company estimate of the profits
Losses Of the Company and also Of al
paid the Company for OF premiums the
preceding twelve months and by whom paid; which
shail be verified by affidavit and hed with
the Company and inform ali
interested And II r shall appear from such statements th t
the otis of ire Company not exceed It's losses and
penses by than ten cent OF its capital stock the
President Directors shall make dividend Stock
t. The insu.