The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-05-03

device Pelican feeding young; and appoint such
nence require and 20 create and establish proper BY
for regulation sns management Of Its affairs al In It's
ARTICLE SECOND.
The objects and purposes Of sad 1ompsny make and
enter all manner Of and agreements for insurance
onursnce Of every kind aud Mature whstsoever for the in
thing The business Of life belonging
70 g. rsinped loss on or BY any risk or Ss which
be taken BY said Company, and for its bese6
other s.tion. issued Issued b said ccrpc1seS
canpsny may Ss nssssisd shall Ss the Presidsat
to be appointed in the manner hereinafter proyssd for
ARTICLE THIRD.
The capital stock q aid Company shall be ave hundred
Of SPs hSnGTsd dOsgs each % to be paid for at the time
The subscribers % hs said Company shan pay into the
hands Of the President upon ts organization the
By them TIE remaining Rns.y doTs per share payable on
demand TO be made only the losses Com
psny should exceed the amount Of available assets hand
thousand dollars may he BY twOthrds vote the stock
hodsrs extended 90 an amount not to exceed i've million
- ARTICLE FOURTH
All the corporate powers Company shall exercised
by Board OF fifteen Directors, Eve Of whom shall constitute
hs following stOckhOldsr. hereby constituted
and powers herein specified, to-wit:
SehR Ff;%Sson Tvs s r EdTsTs si ssHsy
9. Il. sOcomb. A; ThOmpton, Alexander Marks,
r. ". =.
George A FOsdck, Marshall j. Smith, Edward Barnett
The board Ss a. s first %sssS IL elect
who shall ofcio a member Of said Board. and Who
shall preside al meetings Of the said Board and of the
the business q the Co%Pssy generally under the supervision
Tobe s that service Of whole number Of
said Board Of Director shall not expire at tbs end o. each
three classes hav,s one sG.s nuSs, Ct Directors in each
art class second class and third class the term Of whose
service shall respectively expire follows That Of the rs
that the & three And on the sd Mono
S Oh AR N each snd 5sSI IN % there sss Se
eans between such hours be named designated by
and stead Of those whose term service hs hsS expire Of
Which said election previous notice Of not less than ten days
published in this city and shall be the duty Of the Board of
election 70 appoint Competent Directors in
sad Corporation 70 act inspectors Of such election
the retut thereof and should Of the persons appointed
appoint others I'll the vacancies Nothing this
tanned shall be construed to render Director ne
Those receiving plurality Of votes cast shall be considered
s Ss n sssi' o 9s ds as
others elected their stead In the Of election
election 70 Be held within ten days hsrsasr and shall give
n n IRE ~ Ss SsS Ga the me pub
| eessary. until such an election is eaected.
proxy for and every share which
hs Or hy sy sss That no $
nor TO on share transferred 10 him or them within
ARTICLE FIFTH
No person capable bsing director
psny who does not a. he time Of his election and during hts
meTca firm Of which he may be pane ten shares Of tie
stock Of Company be holder of policy
benefit for the sum 81 at isss. I've thousand dollars
ARTICLE SIXTH.
The Board Of Directors shall FIX the Of compen-
ssiion Of all oncess clerks and employees Of me Company
time to time as hereafter provided tori they shall make and
o the Company and tie Of rs and
ssT and change se sane at pleasure provided the same
tent and meaning Of this act They shall have full
$ Psy Be- % s to n PSi % s
and purposes Of the Company; and they .hsn also have
| or in the Presidency.
ARTICLE SEVENTH.
The Board Of Directors shall have to invest from
une 70 ue tne money and o. sne ln oonos
estate this city Which, every case shall
They may also nvs hs profits Of the Company any bonds
OSs srssss By Or qPSsr the laws q the gaSS ss
State make loans pledge Of Of the aforesaid secu
mortgages by way security stock pledged
for security or Of conveyed 70 them in Sss ton Of
judgments orders Of seizure obtained BY said Company
said Company for concerning opera
sns OF s business; but nothing herein contained shall be
mercantile agriepItural business, IN com@issiOn
any kind provided also that the Company shall have
right purchase property building Tor the purpose
| tsbishing their office therein
ARTICLE EIGHTH
No stock shall be transferred unless such transfer be made
the books Of the Company at their place Of business at
the city Of Orleans and transfer shall made while
scethsdsr But sockSodsr wishing to transfer stock
permitted to do 50 by substituting the obligations Of tie
posed % be substituted shall ba in every respect satisfactory
shall al any time have The right TO require additional bond or
security sto.khoder whenever they deem the
The stockholders shs not be responsible for losses
casiis stock held BY him them respectively
ARTICLE NINTH.
In the month Of April Of each year the President and d.
Of the Company shall make er cause to be msde By
the proper Sreer Of the Company an Of the profits
paid the Company for Of premiums for the
snts shall be verified By adav died paper.
interested And & It shan appear IOn such sstsnsus thsi
the ptOts Of the Company exceed Its losses and
q and p 9sa ten Per mss o. s 70 the
hOde and shall not award any return premiums 70 the nsu
psny reserve f-nd TO meet future losses liabilities
the Company exceed EXPENSES ten
per Of its capital then the President and Directors shall
cent nor Of such excess they may
s ~ TdSs IF sSes sIess shall Ss s.sby spsorope
ySea the ss sS s rSs
the Of premiums pd BY each and shall
as return premiums and the dividends awarded 70 the stock
holders shall be entered credit their stock respectively
Dn'H '--'' p''- ARTICLE TENTH.
Any policy Of Insurance by Company for the
use benefit or advantage oft he wife dow children father
mother any individual shall be bed made liable
for any debts engagements OF the person whose
LIE is or may insured and all such IN
event the decesse Of the person whose life be
insured shall be paid 70 the person or persons eenen In
erested therein 20 be held BY him her them free and
discharged Of ard from all preexsng debts contracts and
whatsoever Of the deceased except those
| Of the Company.
| ARTICLE ELEVENTH.
At time Of the dissolution Of the Charter Of this Com
pany. n ordered by Of the Stockholders
hereinafter provided for the Affairs Of said shall
Hqudsed is debts paid under the charge and supernen
Of three Commissioners be appointed
Directors and who shall remain IN once until
| liquidation Of the Affairs Of the Company.
ARTICLE TWELFTH.
This set Of Incorporation may be modified altered or
amended the said Com dissolved, general meet
ing Of the Stockholders to be convened for that after
thty days notice 1. the English and French languages
aforesaid and herein provided for and with the assent o.
threeourhs Of the stock represented such meeting ano
and al such modheatons alterations smenomen,s of
dissolution shA be recorded and published according 70 law
ARTICLE THIRTEESTH.
The and respective Of the parties 70 this a
are hera NV decla "a he foIo u