New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-22
CORPORATIONS.
the company, and in what those earnings and ex
penses consist.


the company, and in what those earnings and ex
penses consist.
SECTION l. The company shall make to the as
sured such return premiums in cash as the presi-
dent and Board of Directors may deem expedlent
SEC. q Out of the net profits OF the company an
interest OF ten per cent on the paid IN stock shall
lrst PC taken, the balance then remaining shail oe
lhree-fourths of the same to be dlvldeu among
them pro rata OF the amount Of earned premium
paid by each of them within the year, ana one
fourth of the said balance to be divided among the
stockholders pro rata Of their paid i'll capi al Ii
is, however, provided that no dividend OF less imam
five dollars shall be declared, nor shall any dlvl'
dend declared contain any fractional part OF the
said unit of five dollars, and that all such frac'
tional sums shall be carried to the credit of con-
tingept accounts. The interest of ten per cent on
paid i'll capital shall be payable in cash, but the
amount of the two dividends declared shall be
notes not extinguished by dividends within five
years shall be paid in cash after the expiration OF
said time. . :,
SEC 8 When the notes of the stockholders shall
have been fully paid there shall be issued to each
stakeholder certificate OF stock Tor the amount
OF his or her subscription.
No dividend shall be paid to any stockhoider
while there exists i'll favor OF the company any
but the same shall be passed to the credit OF
such Indebtedness.
SEC. l. No dividend declared shall bear interest;
and any dividend unclaimed for three years snail
be forfeited to the company, and passed TO the
credit of profit and loss account, after the puDca-
ton of the same once a 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 the said company dissolved
at a general meeting of the stockholders to he
convened for that PURPOSE after thirty DAYS notice
and with the assent of three-fOurths of the stock
represented at such meeting, and any and all such
notifications, alterations, amendments dissOll-
lions shall be recorded and published according
to law
ARTICLE KILL
At the expiration of this charter, sooner if
ordered by "a vote of stockholders representing
twOthirds 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
scrbers to this act are hereby declared to be as
follows, to wit
United States internal revenue stamps, amount
ing to twenty-five cents, 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 iii tae 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.
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