New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-07-19
CORPORATIONS.
the company, and In what those earnir
penses consist.
ARTICLE


penses consist
SECTION l. The company shall make to the as
sured such return premiums in cash as the presl-
dent and Board of Directors may deem expeulent.
SEC 2. Out of the net profits or the company, an
interest of ten per cent the paid in stock shall
hrst he taken, the balance then remaining snail De
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 auu one
fourth of the said balance to be divided among the
stockholders pro rata of their paid in eap1 al. IL
is, however, provided that no dividend of less than
five dollars shall be declared, nor shall any diyf
dend declared contain any fractional part OF 'tne
said unit of five dollars and that all such frac-
tional shall be carried to the credit OF con-
tingent accounts. The interest of ten per cent on
paid i'll capital shall be payable in cash. but the
placed to the credit of the stock notes until the
| latter are paid up. The balance due on stock
| notes not extingulshed by dividends WITHIN nVe
years shall be paid in cash after the expiration OF
SEC. s. When the notes of the stockholders shall
have been fully paid, there shall be issued to each
| stockholder 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
| matured indebtedness of any kind against MN,
| but the same shall be passed to the credit Ut
SEC. 4 No dividend declared shall bear interest:
| and any dividend unclaimed for three years shall
| be forfeited to the company, ana passed 20 ile
| ton of the same once a week for four weeks.
Whenever dividend is called for after being ad.
vertised the party entitled to it shall pay cost OF
advertising.
This act of incorporation may be modified,
altered or amended or the said company dissolved
at a 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 of dissOiu-
tions shall be recorded and published according
to Law.
ARTICLE XIII.
At the expiration of this charter, or sooner il
ordered by a vote of stockholders representing
two-thrds 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 aud 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 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 in the presence of Messrs. Lawrence
Mccormack and Harris Murphy competent wit
pesses, residing in this city, who hereuntO sign
their names Nth said parties and me, said notary,
| after due reading OF the Whole
shares Shares