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

STATE OF LoUIsIAHA. s1rl
CITY OF rsw oaLzAss,


appeared the parties whose hsrsunto subscribed
who declared that awaiting provisisns n
the Statutes ofths Stats Of ou~ana relative the organise
tion Of Comparisons In this Sats they have
agreed and do BY presents covsnsn agree bind
themselves and hose whom they represent them
selves INTO and constitute Corporation for the objects
purposes and der the spusons and regulations follow
ing, thstis say;
t.ei ARTICLE FIRST
The name and title Of the said Corporation shah be the
LOUISIANA EQUITABLE LIFE Insurance COM
PANY and It's doic hereby established the city Of usw
Orleans shall one hundred thou
dollars shall have been subscribed and she'll
five y S@ he be % and 4, such sass
this State i sh. hsvs power contract be sued
personal msss and use common seal Ssssse for is
device Pelican feeding young and appoint
requires crsas srd establish By laws
for tae regulation ana of its afAirs ali It's
ARTICLE SECOND.
TIE objects and purposes sad Company are 70 make and
enter all Of contracts and for
ofinsursnee every kind nature whatsoever for
% e ~ ~ and % s1 end
any appsrsHnine The Comp my may cause Itself
. l. s % E. ySs
..a %s .s D' q s a
Al citations notices. snd ther legal the
TO be appointed In the manner hereinansf Drovis@d
ns ARTICLE THIRD.
The capita. stock q ssid Company sh. Be i've hundred
thousand dosrs sooO0 divided into IRE thousand shares
and in the following. to-vif:
h.ns. o. The rsdsn upon
Of dollars each and share Of stock subscribed
.s the s
such demand 70 BE made only N case The losses The Com
10 pay the same Tbs said capital stock % i've hundred
thousand doars may be by twothrds the stock
hcdsr extended 70 amount exceed ave million
ARTICLE FOURTH
An the corporate Of the Company shall be exercised
bya Board teen Directors i've OF whom shall constitute
The following named Stockholders are hereby constituted
The nr Boar q D seors and invested with all the rights
isis !s%s:l''' s s's: EtTss ss ss'sssy
II sISsG@b ts Tho% % Alssaass. Marks
George Fo.dics sa'sR. = Smith Edward Bss.
The Board sss a. Their Art ss:ns IN every elect
who shall szofsee be member Of said Board. and
and shan az s pse s sSra s and Of s
the business q the Company under tie supervision
thst the Of service Of the number Of
said Board Of shall not expire At tbs end Of cash
three h1s,s one sass number Of Drscors IN each
nrst class class third class the Of whose
service sha respectively expire a. follows That Of the first
that the ,hrd class In three years And third Non
cay Of April IN each and s,s year there sh. ss
eans between such hours named desgn2sd by
service sha hs1 expire Of
which said election previous notice Of not less than
published city be the duty Of the Board Of
Directors AZ some meeting Of said Board psr such
sad alton 70 act ss inspectors q suck election
the thereof should persons 50 aoponted
decline fail 70 stead the President shall have the power o
tanned shall be % construed as g render any Director as
receiving plurality be considered
duly elected srd shall take their sests on the FIRST Monday
ssy se % s IN a so s Ss
taking the Gay fixed the President shall
notice thereof By the papers pub
isbed in the Cit Of New Orleans repeating he
sch every sfail be entitled either in per-
Ss Or hey nsy hold provides ssss espos
ons shall be entitled to greater number Of votes than hf
ninety days prior TO snch election.
ARTICLE FIFTH.
shalise capable Of bsng director Of said Com
IN ecs hd in his Or n that ). TIN
firm Of which he may be tier OF the
CO. sS s be 9s ns Of Dy OF %
his ber.t, for the Of lsass i've thousand dollars
ARTICLE SIXTH.
The Board Of Directors shall fx the amount Of the compen
hey shan invest the profits and gains q the comesny' @
time 20 time provided they shah make and
msns Company ana he ses rs % snd
S the sns same me
meaning this they shshs fan power 10
which may be to into s eject the oSs
and papo.es Of the comga1y and thsy .h. also have
or In the presidency. tl
ARTICLE SEVENTH
The Board Of Directors shall have power invest from
time 70 time the |S1sy and capital Of the Company in bond;
real unted in this city whc every case shalt
% ns Ses
stock crested by under the laws q the United States
or on or ss
ties bonds OF stocks They h. have poser % dispose o
Tor security OF property conveyed to them In at tion Of
on % 81 M ss upon
Of any property movable movabls. which may been
sn ~ o a
20 as ssshoI.s the said COMPANY engage in
brokerage stock obbng exchange banking business Of
right purchase properly building o the purpose Of cs
tAblshiDg their Office tneren.
ARTICLE EIGHTH.
No stock shall be transferred such transfer be made
pn 81. % Of New osps and NO n" s % ss s
any Indebtedness the Companv ess the ps q such
be permitted 70 DO 50 ~ sussitsr hs obssons Of t
party PURCHASING provided always that the o9gs ions
10 the Board Of Directors And the said Board
security any sockhOder whsnsvsr they deem the Sc
curl the deferred payment Insufficient -. e
u b. @ 20 Ssgsns the Of
capital stock held and owned By him them respectively
ARTICLE NINTH.
IN month April year the President and Di-
Of the Company shall make By
the officer OF The Company estimate OF the profits
AID Losses Of the Company and also ststement Of ell
paid into the Company for OF premiums the
precedne twelve months, and BY whom paid which
ents shall be verified BY Affidavit and hed with
Of the Company for snd information OF ali parties
the OF tie Company exceed
penses by than ten per cent Of ts stock
President Directors shall make dividend
hodes and shall award any premiums
but such percentages Of shall be kept BY the vo
pany f<nd 10 meet future losses liabilities
su shall appear from sueh statements that the profits Of
the Company exceed m losses and expenses bv than
per cent q lis espta then the Presidents and Directors shall
reserve and portion thereof less Ger
cent. than onehsf Of such they mar
deem proper be kent BY the Company fund
and the residue Of such shall be by
divided between the htockboder
according the of stock held BY stockhol
and the Of premiums pid bv each
pTope insurers
premiums the dvdeads the Stock
hoosrs hall be entered credit their stock respectively
ARTICLE TENTH.
Any policy Of insurance issued by this Company for the
pse Ieneft advantage Of the wife WIDOW children fsser
mother any individual shall be held Ede liable
for debts contracts the
h. md ALL