New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-04

IoI tHS does hereby certify that the foregoing
charter is duly recorded n this Office IN oOoh 9o
| cietv No. g. folio SO ct seq, this day
re" u ie"A''' C. DARCANTBL Deputy.
A A. PROF, Ie.. Notary Public der law 1t
on 1RT7EH--...-...... .....CHAKTEK.
ESIrEp STATES OF AMERICA, STATE OF
LOUISIANA.
PARISH OF ORLEANS, CITY OF NEW ORLEANS
Re it known that on this thirty first day of the
month of December, in the year of our Lord one
| thousand eight hundred and seyenty-t%o! and OF
| the independence of the United states or America
the nnety-seventh, before me, Gustave lie Gatdeur
Jr a notary public, duly commissioner ana sN ON
in and for the parish and city aforesaid therein re-
siding and in the presence of the witnesses herein
aft er nam-d and undersigned, personally came ana
appeared Charles Cavaroc ESQ; Of thus eity pres
| dent of the NEW ORLEANS MUTUAL INSURANCE.
| ASSOCIATION a corporation organized under the
laws of this State, and having its dOmlcle IN IN
parish of Orleans the said appeaTer herein acting
in his aforesaid capac ty. bY.Yrtue or resolnlon
adopted by the Board or Directors of said eorpor :.
ton, at their Sitting of the twenty hrst day OF
| December eighteen hundred and seventy-two. a
certified copy hereof is hereto annexed for reti-
| ence. E.,
cty that in order to carry into effect, and g
| to be recorded the resolutions adopted at gene
raj meeting of the stockholders OF the said cOrpoa-
ton held on the twentieth day OF December, 1917,
| pursuant to a call made by the said Board OF D.
recturs p6cialty for the purpose OF taking into
cOuSNera lon ana VOTING upon IHe huoplioh u
amendments proposed to the charter or act OF IN
| corporation of the said New Orleans Mutual In
surance Association, by the Board of Directors at
| their sitting of the eighteenth day of November.
1872 which said call advertised by notices. In
| the New Orleans Republican, a newspaper Pdb-
| lished in the city of New Orleans from the nine
teenth day of November last until the day of hold.
ing said general M citing, will more fully appear
nv refpren cs to the annexed certified copy OF the
| proceedings of the said general meeting OF the
| Stockholders, wherein stockholders owning anti
| representing in the aggregate seven thousand
stock of the said corporal on, being all the STOCK
represented at said general meeting, voted in favor
| of the adoption of the said amendments, being
more than three -foul tbs, as required by law.
He, the said appearer, acting in his aforesaid
capacity does Dy These + presents Nv DshaH Or 81
leans Mutual Insurance Association, decla'e pro
claim and publish the SAID amendments to the
charter act OF Incorporation OF the said New
| Orleans Mutual Insurance Association, v hich have
| been unanimously adopted at the said general
meeting of the stockholders of the said corpora
ton to be henceforth Finding and obligatory upon
the stockholders OF the said corporation and all
others whom the same shall or may concern, and
that the charter act of Incorporation of the said
New Orleans Mutual Insurance ASSOCIATION is ac-
cordingly amended in the manner following,
to wit:
Firstlg-That section one of article three of the
act of Incorporation be ended SO as 10 read as
follows to wit:
SECTION l. The capital stock of this assoclationls
hereby liked at the sum of three millions dollars
of which the million of collars already sub
/
two millions OF dollars ofsEock shall be created and
issued as follows:
Whenever lthe special fund created and estab-
lished under section three of article seven OF this
act of incorporation shall amount to the sum of
one million OF dollars, stock to that amount shall
be appOrtiOned and allotted to the stockholders OF
the ass citation, i'll the ratio in which they shall
then resp, ctiyely be holders of The original one
million OF dollars of the capital stock and ceTtit-
Gates K, emitting them to ten per cent per
anuum interest and privileges attached to said
original stock, shall be issued to them accord
ingly.
Whenever, aft r the allotment and issue of ore
million of dollars of additional stock as aforesaid,
the special fund created and established by section
three of article seven shall again amount to one
million of duliGrs new aprOrtiOnment and allot-
meut of stock and new issue of certificates of
stock shall be made TO the stOckholdels of the as
sOCiaten III the r ito in which they shall then be
holders of the first two millions OF dollars OF the
capital stock, and eAtltng the bearers thereof to
the same rig and privileges a5 the prior issues.
And after this secoud allotment and issue of ad-
ditOual stock, the special fund established for the
pIrpose of mere sing the stock of tie association
rs Aforesaid shall cease 10 exist.
Second-That article seven of the act of incor-
pOIatiou be amt uded Sc rs to read as follows:
ARTICLE VII.
SECTION l. From and after the beginning Of the
third year the stockholders shalt pay premiums
on the assurances effected by them.
SIC. ?. But on the last day OF each quarter the
president shall cause to be made d statement of
The losses and expenses of the association, to
which shah be added two and n bali per cent in
ttrest, to be paid to the stockholders on their
stock paid in ful or on such part thereof as shall
published provided for iii section of article
six for the annual statement TO be made in Janu
airy, 1871 and 1872.
SEC. :. At the same time ss this Quarterly state
ment shall be rendered call shall be mad on
each insurng stOckl older for contribution OF
sixty five per cent on the premiums of the sums
insured for by him, earned during the exIiring
quarter, which said CONSTRUCTION shaIE be paid at
the Office of the association immediately after the
first publication of the call made for the same
and such call snail be published three times in at
least TWO newsp ipcrs printed in The city of New
flvl Ha g,,ll4 act Agl,,l 10,
piled first to cover the losses. expenses and i'll.
terest spec fed i'll the last quarterly statement
and the surplus if any, shall be set apart and con
stitute special fund for the increase Of the cap
tai stock, provided in section one of article
three of this act of Incorporation.
SEQ. t. Ii the amount of the losses expenses and
interest due to stockholders specified III the quar-.
torly statement exceed siXty-fye per cent Of the
premiums earned during the expiring quarter, but
do not exceed the aggr- gate amount OF said earned
premiums then contribution shal be made and
called for only for a sum sufficient to cover said
losses expenses and interest.
SEC. 5 and If the losses, expenses and interest
incurred during any one quarter amount to a sum
exceeding the premiums earned during said quar-
ter, the lnsuriug stockholders shall be called upon
and requit ed to pay in full the premiums earned
during said quarter on the assurances effected by
them and the excess shall be taken from the
special fund set apart to increase the capital stoc k
provided in section three of this article to the
extent OF the amount Of said special fluid; and If
that be insufficient, from the other available re.
sources CT tho association provided IN this act
of Incorporation
SEC 6. After the capital stock of this association
shall have attained the sum of three millions
Of dollars, provided in article three no
contribution shall be called for of the iusuripr
stockholders for an amount exceeding the sum OF
the losses, expenses and two and a half per cent
lntere st TO the stockholders, a Certaued and de
clared in the quarterly sta ement made and pub
lished by virtue of section ,wO of this aIticr
SEC. l. No party nslGiug shall be liable for con-
tiDutOns provided in this article to an amount
exceeding the premiums Oh assurances effected by
him. -
Thrdly-That article nine of the act Of incorpo.
ration be amended 50 as to read as follows:
ARTICLE TX.
SECTION |. 1t shall he lawful for the Board of
Directors TO invest the capital stock and otbar
moneys Of the associate in bonds bulls and notes
8nd in mortgage on real estate. They NAV also
invest the capital stock and other cash funds of
The association in any bonds or stocks created by
or under the laws of the United States, of this
State, or of corporations of this State or loan tia
funds on pie dye OF any of the aforesaid public or
private secur ties, bonds or stocks.
SEC 2. Ii shall be lawful also for the BOARD cf
senal -
Wherefore the said Charles Cavaroc moreover
declared, in his said capacity, that by virtue of
the powers in him vested by the azores id resolu-
toni and IN order to more fully carry into effect
the aforesaid amendments, he does hereby declare
and make known that sections one of article three
article seven and article nine of the charter cr ACT
OF incorporation of the said New Orleans Mutual
insurance ASSOCIATION have been CHANGED and
amended 80 rs to read and be as is hereiuaboye
written and he hereby authorizes and rpnuires
the recorder of mortgages in aud Tor this city and
parish to record Eaii anne ndmeuts on the books of
his Office, a. is required by law.
mus done and passed at New Orleans in nv
Office, the day, month and first above written
IN the presence of Armand Pilot Jr and AmbrOise
u. La PlCe, competent witnesses who have signed
with the said aPpeaTer and me, notary after read.
ing the " hole.
Original signed:
{. CAVAROC
A. Pilot, JK
A. G. La PICE.
& Tty(5A u TlL rTrtp