New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-04
CORPORATIONS.


the company, and in what those earnings and ex-
penses consist.
ARTICLgxI
SECTION |. The company shall make to the
sured such return premiums in cash as the presi
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 shall
first he taken the balance then remaining shall be
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 in CAPT al. 1t
is, however, provided that no dividend of less than
five dollars shall be declared, nor shall any divi
dend declared contain any fractional part of the
said unit of We dollars and that all such frac
tiOnal sums shall be carried to the credit OF con
tingent accounts. The interest Of ten per cent on
amount of the two dividends declared shall be
placed to the credit of the stock notes until the
noes not pfa %pb Sy within i've
years shall be paid in cash after the expiration Oh
said time.
SKC. 3. When the notes of the stockholders shall
have been fully paid there shall be issued to each
stakeholder certificate of stock for the amount
OF his or her subscription. -
No dividend shall be paid to any stockholder
while there exists in favor OF the company any
matured Indebtedness of any kind against INN,
but the same shall be passed 10 the circuit VI
SIC. 4. No dividend declared shall bear interest,
and any dividend unclaimed for three years shall
be forfeited To the company, and passed 10 the
credit of profit and loss account after the pubhca-
ton OF the same week for four weeks.
Whenever a dividend is called for after being al
vertised the party entitled to it shall pay cost OF
advertising.
ARTICLE XII.
This act of incorporation may be modified,
altered amended, or the said company dissolved
at general meeting of the stockholders to be
convened for that purpose, after thirty days notice
and with the assent of threefourths OF the stock
represented at such meeting, and any and all such
notifications alterations, amendments or dlssOlu-
lions shall be recorded and published according
to la".
ARTICLE XIII.
At the expiration of this charter, or sooner If
ordered by vote of stockholders representing
two-thirds of the capital stock the affairs of this
company shall be lqudated. 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 superintendence 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 as
follows. to wit: q.
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 wear nrst
above written in the presence of Messrs. Lawrence
| Mccormack and Harris Murphy, competent wit
nesses, residing in this city, who hereunto sign
their names ith SAID parties and me- said notary,
| after due reading OF the whole.