New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-23
CORPORATIONS,
QUARTER.
CHARTER,


.. c. pARCANTEL, 0ept.es--
a PROF js Notary Public. dep law &c
{ HARTER.......... .............CHARTER.
UNITED STATES OF AMERICA, STATE Or
LOUISIANA.
PARISH OF ORLEANS, CITY OF HR,y ORLEANS
BE 7 known that on this thirty first dav Of III.
mouth of December, in the year orour Lord one
thousand eight hundred and seventy. two and M
the independence of the United States of Amer;cS
the nnf vent b, before me, Gustave Lie GarCeur
il, 1ttary public, duly commits stoned and sN orn
III aud for the raiish and city aforesaid therein re-
siding, and N the presence of the witnesses herein.
al, ec named and undersigned, personally came and
APPEARED charles Cayaroe ESQ; OF this city. presi-
dent of the NEW ORLEANS MUTUAL INSURANCE.
ASSOCIATION. corporation organized under the
laws of this State, and having its domicile in thjs
parish OF Orleans, the said aPpearer herein acting
IN ms aforesaid capacity BY virtue of a resolution
adopted by the Board OF Directors of said corpora
ton, at their Sitting of the twenty. INST day of
December eighteen hundred and seventy.two, a
certified copy whereof is hereto annexed refer
ence.
Which said appearer declared in his said cana
city, that i'll order 10 carry into effect and causing
to br recorded the resolutions adopted at gene.
raj meeting Of the stockholders of the said corpora
tiou, held GA the twentieth day of December 1872,
pursuant to a call made By the said Board OF d.
rectoIs specially for the purpose of taking into
consideration and voting upon the adoption Of
amendments proposed TO the charter or actoof in
corporation OF the said New Orleans Mutual In
surance Association, by the Board of Directors az
their sitting OF the eighteenth day of Novem Der,
1917 which said call was advertised by notices; n
the New Orleans Republican. a newspaper. ~
Ashed ID the city CI New Orleans from the nine
teeuth day of November last until the dav of hold
Ing said general citing will more fully appear
by reference to the annexed certified cnnY Of tbe
proceedings Of the said general meeting of the
stock oders wherein stockholders owning and
representing in the aggregate seven tho1sanS,
eight bundled and ninety shares of the capital
stock OF the sad corporation being FL the stock
represented at said general meeting, voted in favor
no Ef t1n gniA
moIe THAI thrce-fou. tbs, required by law
He the SAID appearer acting in his afore said
the Stockholders Of tie said New oGs
leans Mutual Insurance Association, declare pro-
clam and puphsh the SAID amendments to theN
charter or act of Incorporation of the said NeVo
Orleans Mutual Insurance Association, " hich have
been unanimously adopted at the said generasl
meeting OF the stockholders of the said corpora+
tom 70 be hencetorlh binding and obligatory upof2
the stockholders OF the said corporation and alp
Others whom the same shall or may concern, and
that the charter act of Incorporation of the said
New Orleans Mutual Insurance Association is aeS
eordiHSly amended in the manner following
to wit:
Firstly-Ttas section one of article three of the
act OF incorporation be amended ~. mead $50
ARTICLE III.
SEcTIoN !. The capital stock of this ASSOCIATION "a
hereby liked at the sum of three millions OF dollars
scribed and issued shall form part The remaining
two millions of dollars Of stock shah be created and
issued as follows.
Whenever the special fund created and estaB-
shed under section three of article seven of this,
act OF incorporation shall amount to the sum Ell
one million of dollars, stock to that unit shall
be apporti0ned and allotted to the stockh olders of
the association in the ratio in whc hey shallo
then resp ctively be holders of The orr ginal ons
million or dollars of the capital stock and certif-
Gates of stock, emitting them to ten per cent peg
annum interest and pr yileges ATTACHED to said
enigma! stock shat be issued TO them accord
ingly.
wherever. after the allotment and issue of oDxs
million OF dollars Of additional stock aforesaid
o. tod oh,
three OF article seven shall again amount to one
million OF dollars, new aplortionment and allot-
ment of stock and new issue of crrtiica ties OF
stock shall be MADE TO the stockholders of the as
sociatisn in the ratio i'll which they shall then he
holders of the first two millions of dollars of the
capital stock, and emitting the bearers thereof TO-
the same rights aud privileges the prior issues,
And after this second allotment aud issue of ad,
dTIondt stock trc special fdt1t established for TIT
purpose of Increasing the stock of the association
ii aforesaid, shall cease exist.
SecnHd-IlIat article seven of the act of iuCpsg
polation be amended SO as to read as follows:
ARTICLE VII.
third year the stockholders shall pay premiurrsE2
on the assurances Effected by them.
SEC. 2. BIT Oh the last day of each quarter the.
president shal! cause TO be made a statement Of
/ he losses and expenses of the association TO
which shall be added two and a half per cent in
terest, to be paid 10 the stockholders their
stock paid ID III l. or on such part thereof as shall
have been paid, which said statements shall be
published as provided for IN section of article
six for the annual statement 20 be made in Janu3
airy, 1871 and 1872
SEC B. At the same time as fins qua, terly state5
ment shall be rendered call shall be made en-
each insuring stakeholder for a contribution Of
sixty-f We per cent on the ORE miums of he sums
insured for by him, earned during the expiring
quarter, which said contribution shall be paid at
The office of the association Immediately after the
first publication of the cali made for the same;
and such call shall be published three times in al
least TIVE newspapers printed in tho city of New
Piled first to cover the losses. expenses and in
terest specified in the last quarterly statement,
and the surplus if any, shall be apart and co.'s.
stitute special fund for the increase of the capl-
tai stock, as provided in section one Wf article
three of this act Of Incorporation
SEC 4. II the amount of the LOSSES e. penses arlc
interest due to stockholders specified in the quax-
terly statement exceed sixty-tve per cent of the
premiums earned during the expiring quarter, but
do not exceed The aggregate amount OF said earned
premiums, then contribution shah be made and
calico for only for sum sufficient to cover said
losses, expenses and interest.
SEC. And if the losses, expenses and interest
incurred during any one quarter amount to "A sum
eX ceedng he premiums earned during said quar-
ter the insuring kholders shall be called upon
and required to pay in full the premiums earned
during said quarter the assurances effected by
them, and the excess shall be taken from the
special fund set apart to increase the capital stock
provided in section three of this article to the
2 tent OF the amount of said special fund and If
that BE- insufficient, from the other available re-
sources Of tho association, as provided in this act
of incorporation.
SEC. g. After the capital stock of this associatioz
saall have attained the sum of three milohr
of dollars, as provided In article three, nh'
contribution shall be called for Of tho insuring
stockholders for an amount exceeding the sum 81
the losses, expenses and two AND a half per cent
interest TO the stock holders a-certained and de-
clared in the quarterly statement, made and puhE
lished by virtue ot section two Of this article
SEC. : No party insuriI e shall be liable for con.
tributIoDs provided N this article, to amount
exceeding the premiums on assurances effected by
him.
Thirdiy-That article nine of the act of incorpos
ration b. amended SO as to read as follows;
ARTIClB TX.
SECTION /. 1t shall he lawful for the Board Q
Directors to invest the capital stock and other
moneys of the association in bonds bills and notice
and in mortgages real estate. They may sko
cest the capital stock and other cash funds Of
the a-sOciat Oh in any bonds or stocks created by
OF under the laws Of the United States, of this
STATE, of corporations of this state or loan itE
funds on pledge OF any of the aforesaid public Or
SHC. 2. II shah be lawful also for the Board o j
Directors 70 purchase any property, real or per
sOnal.
Wherefore the SAID Charles Cavaroc moreovep
declared, in bis said capacity, that by virtue o.
the powers in him vested by the aforesaid resoln
ton and in order to more fu7y carry into effect
the aforesaid amendments, he does hereby declars
and make known that sections of article three
artIc's and article nine of the charter act
OF IT, cor OTatOu OF = he said New Orleans Mutual
Insurance Association have ben changed and
aneuChd t. read and be as is herelnab OE6
written; and he hereby authorizes aud requires
he recorder of mort cages in aud this city and
pa ish 10 record eaid amendments on the books o.
Lis office is required by law.
Thus done and passed at New Orleans, in ny
Office the day, month and year b rst above written,
in the presence Of Armand Pilot, JT and Am Srol5s
&. La Pice. competent witnesses who have signed
with the said appearer and me, notary, after reac'
ing the whole.
Original signed:
E. IAYAROC
A. Pilot, JE.,
A. &. LA PICB.
g. LEGARDEUR, Jr., Notary Public.
t. the undersigned Deputy Recorder OF Morss
gage for this parish and city of New ORLEANS State
7 4 70 hot fba