New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-01-13
CORPORATIONS,
(.HAkTER.............". .....CHAKrER.
ACT OF INCORPORATION OF THE
HOPE LIFE INSURANCE COMPANY
OF NEW ORLEANS.
Ofi.c-No. 10 CarOndelet street. New
Orleans.
SrAra o. LOUISIANA
CitN of New Orleans {

hundred and seventy, and the nnety With OF the
independence of the United States of America, be.
fore me- Joseph cohn, notary public for ths
parish and city of New Orleans, duly commissioned
and sworn. and in the presence of the witnesses
hereinafter named and undersigned, personally
came and appeared the parties whose names are
hereto subscribed, who declared that. awaiting
themselves of the provisions of act OF the Legs-
lature of this State entitled IAN act for the organi.
zitlOn OF corporations for works of public improve.
ment and utility" approved on the fourteenth OF
March. 1855. they do by these presents bHd them
selves, and those whom they represent. well as
those who NAV hereafter become members. to
tum body corporate, for the objects and pu,.
poses. and under the stipulatiOns following:
ARTICLE I.
The name o. This corporation shall be THE Hope
Lat. Insuranc. COM anv OF New Orleans and its
domieilc is hereby established in the city Ok New
Orleans.
l. shall commence business rs soon "a the sum OF
fifty thousand dollars has been subscribed for,
and shall exist for period OF TWENTY-FIVE years
from the date hereof. and shall have and Use cor
poTatr seal h3vln. Tor an inscription the nane OK
the corporation.
ARTICLE II.
The object and purposes OF This corporation are
hereby declared to be 20 make INSURANCE. on the
lives OF children from dat. of birth s,Iaranteein.
to them at . certain ag. an adequate amount OF
capitol. from $40 to $4,000. on such terms and at
such rates the Board ot Directors may from time
10 tIIne determine.
ARTICLE III!
All citations. notice, and other legal c.oces'iin:s
wherein this corporation may be interested shall
ia the maunea hereinafter pow
ARTICLE IL.
Til. caata! stock OF the company Snail ~ one
hundred thousand dollars = 100 WD), divided into
one Thousand ,loto} shares OF hun,ired dollars
each to be paid tor at the slime ami IN the manner
following TO wiz:
The Subscribers to :hc sock OF the company
shall pay into the hands Of the President OF the
company, upon The organization OF the company for
business, the sum OF five dollars So in cash on
each and every share subscribed by them, and five
dollars tS5, thirty days thereafter, and each sub
,cribey to stock shall furnish his note, PAYABLE
demand tor ten (lo) per centum Of the amount OF
his subscription, and for the remaining eighty
dollars BOY Oh each share they shall furnish their
notes to the order OF the company lie at the
office OF the company at such time and in such
manner the Beard OF Directors may determine
provided. that tn. same shall be made payable by
insrallnIents OF not more than twenty dollars (S2O)
each share, at such periods as may be agreed
upon by the Board OF Directors, and thirty (3O)
DAYS notice shall be given in the English German
and French languages. in three daily newspapers
punished in this city. OF payment or payments to
ne made.
All the corporate powers OF the company shall be
exercised in TIN, Board OF Directors. composed of
twelve stockholders to oe elected on the second
Monday OF January in each year. at the office OF
the company.
Notices OF such election shall We given and
tinued. for ten days immediately preceding said
election. in the English. German and French
languages.
stockholders as inspectors 10 preside At such elec
tons. and if any OF said. inspectors decline, fail
to attend. the President of the company shall ap
point Others to act in their stead.
The board thus elected to take their seats on
the third Monday OF the said month OF January
and to hold the same one year thereirom, or until
their successors are elected and qualified but for
the present and until the third Monday OF Jan.
uarv, eighteen hundred and seventy two 1872, the
following named stock holders are ecialed 10 I've
the Board OF Directors of the company. and they
are duly authorized to act as such to wit:
William Bo2el, Aug. DessommcS.
DOIninick Urban. Gnstaye Moses
Hugo RedwitA, Fred Otto,
j. NJ. Wagner. Charles BaGuic
Alfred Shaw William S. Pike
r. Newman. J. X. &. POrtman.
III ali elections the votes shall be by ballot. and
those persons receiving the plurality OF votes OF
elected. and i'll the event OF no election taking
place the day aforesaid the President shall
cause another election to be- held ten N01 days
thereafter and give notice therot as aforesaid
ten DAYS.
At all meetings the stockholders shall be entitled
either in person or by proxy to one vote for each
and every share of stock he. she or they may
spectivcly hold in their own name for. at least.
sixty days previous to such election, provided that
no stakeholder shall he permitted to vote unless
he will have held his stock on the books OF the
company at least sixty days previous to such
meeting.
or sooner il ordered by vote OF the Stockholders,
as hereinafter provided for, the affairs OF the
panH shall be liqni'lated its debts paid under the
charges and superintendent OF three commits
>oners to he appointed by the Board OF Directors.
and vino shall remain in office until the final set
Element OF the affairs OF the company.
ARTICLE VI.
The Board OF Directors shall. at their tirst meet.
.ng in every year. elect from among themselves
= President and vice-President, who shall hold
ARTICLE VII.
No person shall be capable OF hcin. elected a
director OF The company who does not. at the time
o. his election and during his cont nnance in Office.
hold in his own name at Least twenty shares vi the
stock OF the company.
ARTICLE VIII.
The Boar. OF Directors shall have the power to
appoint such officers. clerks and employees ehali
be necessary for the conductin9Of the business of
and regulations as they may deem necessary for
the government of the company, provided the same
shall not conflict with the laws OF this State. and
the provisions and meaning of this act.
They shall fix the compensation OF salaries of the
officers. clerks and employees elected aud employed
by them in the service of the company aud shall
also have power to I'LL all vacancies which may
occur in their board or i'll their presidency.
ARTICLE IN.
The President and Secretary of the company
shall sign all policies of insurance issued by the
company. The former shall preside at all meetings
of the Board of Directors. and he shall conduct
and manage the business Of the company generally
under the supervision OF the Board of Directors
In case of his absence. the Vice President shall
preside at all meetings OF he Board OF Directors
and in The absence of both the board shall elect
TEN. shall he binding on the company.
ARTICLE X
The Board OF Directors shall have power to in
vest. from time 10 time. the funds OF the company
i'll bonds and mortgage on unincumbered and I'M
proved real estate, situate in this city, which in
every case, shall be worth at least double the
amount loaned thereon. They may also invest the
profits OF the company any bonds stock
created by or under The laws Of the United States
of his State or of the corporations of this State
or make loans on pledge on any of the aforesaid
securities, bonds or socks, or mortgage notes; but