New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-11
CORPORATIONS
the company, and In what those earnings and ex-



ARTICLE XII.
SEorroN l. The company shall make to the as
sured such return premiums in cash as the presi-
dent and Board of Directors may deem expedleht.
SEC 2. Out of the net profits OF the com any, an
interest of ten per cent the paid in stock shal
divided among the stockholders, as follows:
Threefourths 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 IL
is however provided that dividend of less than
five dollars shall be declared, nor shall any divi'
dend declared contain any fractional part OF the
said unit of five dollars and that all such frac-
tiona 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
latter are paid up The balance que on stock
years shall be paid in cash after the expiration of
said time.
SEC g. When the notes of the stockholders sha
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 stockhoider
while there exists in favor of the company any
Inatured Indebtedness of any kind against hum,
but the same shall be passed to the credit OF
such Indebtedness
See A. No dividend declared shall bear interest
and any dividend unclaimed for three years shall
be forfeited TO the company, ana passed 10 the
credit OF profit and loss account, after the publ1ca
ton of the same once week for four weeks
vertsed the party entitled to it shall pay cost OF
advertising.
ARTICLE XII.
THIS act of incorporation may be modified,
altered or amended, or the said company dissolved
at general meeting of the Stockholders to be
convened for that PURPOSE after thirty Gays notice
and with the assent of three-fourths of the stock
represented at such meeting, and any and all such
notifications, alterations, amendments or dissolu-
tons shall be recorded and published according
to Law.
ARTICLE XIII.
At the expiration of this charter, sooner if
ordered by a vote of stockholders repre- sentng
twO-thrds of the capital stock, the affairs of this
company shall be iiquidated 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 Drec-
tors for that purpose.
ARTICLE XIV.
The names and respective interests of the sub
scribers to this act are hereby declared to be as
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
Desses, residing in this city, who hereuntO sign
their names with said parties aud me, said notary,
after due reading OF the whole.