The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-04-29

nience requires aud % create and establish by laws
for toe regulation ana management Of Its anAr al in Its
ARTICLE SECOND. .
TIE objects and purposes sad COMPANY make
enter all Of and agreements for insurance
Of Of every kind and Satas wsassever for the in
act and tSi1S The business Of lie BELONGING or y
any wise sppe,tsning The said Company may cause tse
may be taken bv said Company and for It's bese
ss.r V A P0 he % sS 9 81 or
All citations notices. and ~ther legal process wherein the
to be appointed in the manner hereinafter provided for
ARTICLE THIRD
The capital stock Company shall be Eve hundred
Thousand dosrs (S5O0OO divided into shares
and IN the manner following. to-wit:
The subscribers TO he said Company shall pay into the
Of dollars and share Of stock subscribed
S si . on
such demand to be made only the losses the
pay the The said capital stock of Eve hundred
thousand dollars may be by wo-thds vote the
hoder extended TO an amount not to exceed hye million
ARTICLE FOURTH.
All the corporate powers OF the COMPANY shah be exercised
by Board fifteen Directors Eve whom shall constitute
the Boaro Of D ectors and invested with all rights
and powers herein specified, to-wit:
iG19 f; ys s ra: E9T & sd ssRsy
Q. H. slOcomb. A ThompfOn. Alexander Marks,
F. u Il.
George A FOsdic Marshall J. Smith, Edward Barnett
The Board shall at their . meeting p every year elect
who shall sx OHeio be msnber Of said Board and VINO
shall preside At meetings Of the said Board and of the
the business Of the Company generally under the supervision
and control Of the said Board.
said Board OF Directors shall not expire at tbs end Of each
spa every yea t5e sso Soa % p Dc divided INTO
class and shall be respectively designated known the
service Ali respectively expire Is follows That Of the st
class in year. hat Of the second class In years and
DAY Of April in each and there shall te
hodsn a. ire once o. the COMPANY, IN ne cry 81 New Or
the Board Of Decor an eecon for Directors in the place
which pevous notice than ten days
shah be given by public advertisements in two
Directors at meeting of said Board prior any such
eeeoh TO appoint three not Directors in
perntend aud conduct the and TO certify said Board
decline fail attend President shall the power 70
appoint others al the vacancies Morning in this
Bile to reelection to said Office Of Director
is sssng pT,s votes cast shan Be considered
Of May after the election and tall hold the same untl
taking the day hxed the Presidert shall
election To- be held within days thereafter aud shall give
sbed in the cit, Of New Orleans repeating he sane
eesssry. until such an election is sses.ed
by proxy vote for each and every share which he
tions entitled greater number Of votes than any
to any share transferred him them within
ninety days prior TO such election.
-......---a, ARTICLE FIFTH. I.,air-t.
prsc o. not y U % .S So
in eee hold in his name or in that Of the
stock Of said COMPANY. =. snq Be III: holder Of policy Of in
his benefit for the of at least I've thousand dollars
ARTICLE SIXTH.
The Board Of shall the amount Of tho compen
sston of all officers, clerks and employees Of The Compauy
adopt bylaws rules and regulations for the proper govern
@ and na re provided the same ss
ssns law" Ssy 5 S he n
90 asd ps,p% al sss s1o .SGss Pos nsTsS provides for
d Of he %Ss sS s G sO Ss,s
power an all vacancies which may in their number
or in the Presidency. 3. .a ....-s t.-.ar- r....
ARTICLE SEVENTH.
The Board Of Directors shall have to invest from
time time, the and capital Of the Company in bonds
and mortgages uni numbered, improved and unmproved
deemed worth least double the oa1od thereon
They may also invest the profits q the Company in bonds
or Of this state or Of this city, or Of corporations Of this
ties bonds stocks They shall have poser TO dispose Of
mortgages obtained by Of security Of stock pledged
previously contracted purchased public upon
judgments orders Of seizure obtained By said Company
to the said Company for concerning the
items Of It's business; bot nothing herein contained shall
construed to authorize the said Company
mercantile agricultural business, nor In commission
brokerage stock jobbng exchange banking business Of
any kind provided also that the Company shall have the
right purchase property budng for the purpose Of
tsblishing their Office tnerein.
ARTICLE EIGHTH.
No shall be transferred transfer be made
the books Of the Company at their place of business
the city OF New Oreans and transfer shall made while
any indebtedness 10 the Company exsIs on the part Of suc
stockheder But wishng stock AZ
be permitted to do BY substituting the obligations of
posed 70 be substituted sh, in every respect satisfactory
70 the Board Of Directors And the s-d B9srd OF Directors
security any stockholdsr whenever they deem the
The stockholders shs responsible for losses
damage Incurred by said Company beyond the amount Of
capital stock held and owned by him them respectively
ARTICLE NINTH. H
In the month Of April of each year the President and D
Of the pany shan make be made b.
the proper SssT q The Company an estimate q The profits
preceding twelve months, and by whom pad; which
the Company for .xssSton and information ali parties
mt % Of AP s a % .gS,5 a. % sSs
enses By more than ten Per cent Of rs cap Gal stock re
holders and shall award any premiums
but such percentage OF profits shall be kept by the Com
Ba Il !, shall appear from such statements that the pross
The Company exceed m losses and BY than zen
reserve and set apart portion not less than ten per
proper 20 be ksp BY The Company as fund
and the residue Of such shall be r'esby spsooned
s ss int 81 S 20 e ass
and the of premiums pd by insurer and hall
order the cente to be paid the several Insurers
premiums and the dividends awarded Stock
holders shall be entered credit their stock scvey
ARTICLE TENTH.
Any policy Of Insurance issued BY this Company for the
use advantage Oft he wife WIDOW children. father
mother any individual shall be held liable
for any debts the person whose
life V may be insured and all such insurance IN the
event Of the decesse Of the whose life Is
insured shall be paid the heneh rally
tere-ted therein be held by him. her them free
discharged Of ard from all preexsDg debts and
snggemes whatsoever Of the person deceased except those
Of the Company
ARTICLE ELEVENTH
At the time Of dissolution OF the Charter OF this Com
psny. II ordered by vote OF the Stockholders
hereinafter provided for the Affairs Of sad shall be
hqdsted its debt paid under the charge and supernten
denee Of three Commissioners be appointed BY the Board
Directors, and who shall remain in once until the final
liquidation Of the adsirs of the Company. -
ARTICLE TWELFTH.
This set Il Incorpsrsti0n may be modified altered
amended or the said Com any dissolved at general meet
ing Of the Stockholders be far that aer
thirty Gays notice In the English ana French languages
aforesaid aud herein provided for and with the
Ouhs Of the stock represented ct such meeting aad
any and all such notifications serstcns ansndments
dissolution shs be recorded and published according 10 law
ARTICLE THIRTEENTH.
s psmes respective interests Of the parties sct
hereby declared 70 be a. follows tevt: