New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-20
CORPORATIONS.
the company, aad in what those earnings and ex
penses consist

the company, and in what those earnings and ex-
ARTICLE XI.
SECTION |. The company shall make to the as
sured such return premiums in cash as the presl-
dent and Board of Directors may deem expedient.
SEC. 2. Out of the net profits OF the company, an
interest of ten per cent ON the PAID IN stock sna
hrst he taken the balance then remaining snail De
divided among the stockholders, as follows:
!, Three-fourths of the same. to be divided among
them pro rata of the amount of earned premiums
paid by each of them within the year and one
fourth of the said balance to be divided among the
stockholders pro rata Of their paid III capl az. IL
is, however provided that no dividend OF less imam
five dollars shall be declared, shall any dlvi-
dend declared contain any fractional part OF the
said unit OF 1--WE dollars, and that all such frac-
tiona sums shall be carried to the credit of con-
tngent accounts The interest of ten per cent on
p alo of ofp the two dividends declared shall be
placed to the credit of the stock notes until the
latter are paid up; The balance due on stock
notes not extinguished by dividends within five
wears shall be paid in cash after the expiration of
said time. -,
have been fully paid there shall be issued each
stockholder a certificate of stock for the amount
OF his or her subscription. 49,,
while there exists in favor of the company any
matured Indebtedness of any kind against MN
but the shall DO passed to the credlt OF
SEC. 4 No dividend declared shall bear interest;
and any dividend unclaimed for three years snall
be forfeited to the company, and passed 10 the
credit of nroft and loss account after the pubica-
ton of the same once a week for four weeks.
Whenever dividend is called for after being au,
yertised the party entitled to it shall pay cost Vi
advertising
This act of incorporation may be modlhed
altered or amended or the said company dissolved
at a general meeting of the stock h0lders 10 De
convened for that purpose after thirty days notice
and with the assent of three-fOurths OF the stock 4
represented at such meeting, and any and all such
notifications, alterations, amendments or uIssoiu'
tons shall be recorded and published according
to Law.
ARTICLE XIII. ..-.
At the expiration of this charter, or sooner il
ordered by vote of stockholders representing
two-thirds of the capital stock, the affairs of this
company shall be liquidated, its debts paid and
the balance divided among the stockholders, pro
rata on the amount held by each of paid up stock
under the charge and superintendent OF three
commissioners appointed by the Board of Direc'
tors for that purpose.
ARTICLE XIV.
The names and respective interests of the sub
scribers TO this act hereby declared to be az
follows, to wit:
United States internal revenue stamps, amount
ing to twenty-five cents, are affixed hereto, duly
cancelled at the execution hereof.
Thus done and passed in my Office. at New Or
leans aforesaid the day, month and year first
above written, in the presence of Messrs Lawrence
Mccormack and Harris Murphy competent wit
nesses residing in this city, who hereunto sign
their names With said parties and me, said notary,
after due reading of the whole.
Shares Shares