New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-25
CORPORATIONS.
............C CHARTER

f. PIroT. JR-. Notary Public des7 vat
EHARTER........... CHARTER.
UNITED STATES OF AMERICA. STATE Or
| LOUISIANA
PARISH OF ORLEANS, CITY OF NRW ORLEANS
Be it known that on this thirty first day of the
| month OF December in the year of our Lord one
| Thousand eight hundred and seventy. two and nF
| the independence of the United states of Americs
the ninety seventh, before me- Gustavp lie Gardenr
Jr., notary public duly commissioned and sworn
In and for the parish and city aforesaid therein re-
sizing ana Ia the pi essence OF the witnesses herein
afier named and undersigned, personally came and
appeared Charles Cayaroc, Esq. of this CITY presi
dent Of the NEW ORLEANS MUTUAL fNSTRRNCB
| ASSOClATlON, a corporal ion organized under the
laws OF this State. and having its dOmicile in this
parish OF Orleans the said appearer herein acting
IN his aforesaid capacity by virtue of a resolution
adopted by the Board or Directors of said corpora
ton, at their Sitting of the twenty. rst day of
| December, eighteen hundred and seventy.tw0 a
certified copy whereof Is hereto annexed for refer
ence.
Which said appearer declared in his said capa-
city that In order to carry into effect. and causing
| 10 De recorded the resolutions adopted at a gene.
raj meeting OF the stockholders of the said c0r1orn
| ton, held ON the twentieth day of December 1872
| pursuant to q call made by the said Beard Of Di.
rectors spc cial'y for the purpose of taking into
! considera ion and voting upon the adoption Of
amendments sropssed to the charter act of in
corporation of the said New Orleans Mutual In
enrance association BY the Board of Directors at
| their sitting of the eighteenth day of November
| 1872; which said call was advertised by notices n
| me New Orleans Republican. a newspaper kN,
nsnea In the city OF New Orleans, from the nine
teenth day of November last until the day of hold
ing said general meeting, will ny appear
by reference to the annexed certified copy Of the
| proceedings of the said general meeting OF the
| stockholders wherein stockholders owning and
| representing in the aggregate seven Thousand
stock OF the said corporation being sill the srock
represented at said general meeting voted in favor
or the adoption OF the said amend uents being
more thar three-four tbs as req tIired by law
He the said appearer, acting in his aforesaid
f Ss dOes BY these in behalf Of
leans Mutual Insurance Association, deeiass pro-
claim and publish the sad amendments to the
charter or act OF Incorporation of the said New
Orleans Mutual Insurance Association, 81 ioh have
been unanimously adopted at tho s~aa general
meeting of the stoc kAolders of the ssS co rpora-
ton, 10 be hencetorth binding and sb gssOIy upon
the stockholders of the said corporation aud all
others whom the same shall or may concern and
that the Oh ,rter act of incorporation of thu sajd
New Orleans Mutual Insurance Association IA ace
cordinSly amended IN the gnanner following.
Frstly-Thss section one of article three of tho
act of incorporatioh be amended 50 40 to Jes5 ~
ARTICLE YS
SEcToD7. The capital stock of this assoc,s Zion IN
hereby fixed at the cum of three millions OF dollars,
of which the one million Of collars already suts
scribed and issued shall form part The ren,aininep
TWO millions OF doars Of stock shall bo Grea and
issued as follows:
1ished und4P section three os article seven of this
act OF incorporation shall amount TO the sum 81
one snl1lOn al dollars, stock go that amO unit shaa
be apportoned and aiotted to the stockh elders oS
tho cation b the ratio an sSlli III hey shas
then resp stiyelg be holders of he sri gIual one
million Oh e0liars of the capital stock and certE
Gates OF sisr k, emitting them to ton per cent pee
annlLm interest aud privileges attached TO safe
inglyo
Whenever, after che allotment and issue OF oua
million of dollars of add iOnal ST Ok as aforesaid
thu special fund created aud established by section
three OF article seven shall again amount to On9
million of dollars, new apr orLonment aud allots
ment of stock and new issue of c,rtifca ties %
stock shall be made to the stockholders of the as
soeiatIsn in the r ito in which they shall then be
holders Of the first two MILLIONS of dollars of the
capital stock, and emitting the bea els he reof to
the same nigh and privileges az the prior issues
And after this srcod allotment and ISSUE of ad.
ditluna stock the special fund established for the
purpose OF increasing the stock Of the association.
us aioIe said, shall cease 10 exist.
SecOnd-Ihat article seven of the act of ineOEs
poIatlsB be amt nded so as to read as follows
ARTICLE VII.
SECTION 7. From and afte, the Beginning of fhe
third year the Stockholders hall pay pIeniuma
on the tUsurdnces tfecttd BY them,
SEC But on the last day OF each quarter thS
president shall cause to be made a statement Of
The losses and expenses Of the association. to
which shall be added two and a hal, per cent in
trrests to be paid to the stock holders on tbejE
stock paid in fu or on such part thereof az shall
have been paid, which SAID staten nts shall be
published as provided tor IN section of article
SIX for the annual statement to DO made in Janu-
srv, 1871 and 1872
SEC. 3 At the same time as this Quarterly state,
each insuTng stakeholder for a contribution oF
sixty i've per cent on the Of. miums of The aims
insured for by him, earned during the exuiriuR
quarter which said contribution shall be paid az
the office of the association Immediately after the
first publication of the call made for tho same.
and such call snall be published three times in a5
least Two newspapers printed in The city Of New
oIitans The amount 80 collected shall be ap.
Piled first to cover the losses expenses and in
terest specified in the last quartrrly statement.
and the surplus, if anv, shall be apart and ron
situte special fund for the increase of the cam.
tal sock, ss provided in section of article
three of this act of Incorporation
SKC. T. Ii the amount Of the losses ax penses and
interest due to stockholders specified in tie 0uar
terly statement exceed sixty-f per cont OF the
premiums earned during the ex pring quarter, but
do not exceed the aggregate amount said earned
premiums then contribution shall be- made and
calico for only Tor a sum sufficient to said
losses expenses and interest.
$50. 5 And If the losses, expenses and interest
incurred during any quarter amount to snm
exceeding the premiums earned during said quar-.
ter, the insuiius Stockholders shall he aIlsd upon
and require &c pay in fun the premiums earned
during said quarter on the ipsurancrs effected nv
them, and the excess shall be taken from the
special fund set apart to increase the capt storE
N provided in section three of this article to the
extent of the amount of said special fund; and If
that M Insufficient from the other available re-
sources OF tho association, provided III this act
Of incorporation.
SIC O. After the capital stock of this association
shall have attained the sum OF three million
Of dollars provided in article three M,
contribution shall be called for of the instiriDg
stockholders for an amount exceeding the sum of
.h- iosses, expenses aud two and half per cent
interest to the stockholders, a cerianed and de-
Jared IN the quarterly sta ement, nv de and prh-
lshed by virtue of section two 4 this aItcl.
SIC. T. Nc party insuiiI shall be liable forCt
TIbutlons al provided III this ItiCle to an amount
xceeding the premiums on inBarances effected by
lin.
Thirdly-That article nine of the act of incorpo.
alton b. amended 30 rs to read as follows
ARTICLE TX
SECTION /. 1t shall he lawful for the Board o
Directors to invest the capital stock and other
moneys Of the ssociati in b@uds bulls and notes
ma IN mortgages on real estate. They may also
invest the capital stock and other cash funds of
he association in any bonds stocks created by
n under the laws Of the United States of this
tate or OF corporations of this state or oa n its
unds on pie dye of any of the aforesaid public or
III vate socur ties DO nds or stocks
SIC. 2. Ii shall be lawful also for the Board n
Directors TO purchase any property, real per
onaL
Wherefore the said Charles Cavaroc moreove,
declared, in his said capacity, that by virtue Of
he powers in ham vested by the AZORES Id resOIu.
ion and in order to more fully carry into ffPcf
he afOrF said ame ndmeniB he does hereby decIa re
nd make known that sect' us one of rticle three
Itice seven and article nine of the charter act
4 Incorporation of the said New OrIeAus Mutual
insurance Association have be II changed and
mendsd 80 IA to read aud be as is hertinab 0ve
ir1tten; and ne hereby authorizes and requires
he recorder OF mortgages in aud IoT this CITY and
aIish to record said anne nd ments on the boCks OF
10 office, ne Is required by Law.
J hus done and passed at New Orleans in nv
thce, the day month and year first above written,
4 the presence of Armand Pilot Jr., and AMBROSE
: La Pee, competent witnesses who have signed
nth the said appeaTer and me, notary after read
* the whole.
Original signed:
c. CAVE ROC,
A. PrrDT, JR,
A. q. La PICE.
g, LEGARDkCIS, j.. Notary PuhlIc
J. the undersigned, Deputy R+ coIdrr Of Mort
Il. . Btu -, 4 a