New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-18
EHARTER.
CHA RTER,

( niAffhh' CHA RTRR.
UNITBD STATES OF AMERICA srarp on
LOUISIANA
PARISH OF ORLEANS, CITY OF YRw oRLRANs
Be it known that on this tairty first dsy os the
month OF December, in the year OF our Lord one
thousand eight hundred and seventy two and ~
the indepenOence of the United States of Amerioa
the NINETY seventh, before me- Gustave lie Ciardeny
| Jr., a notary public, duly commissioned and sworn
IN and for the parish and city therein re-
siding and in the essence of the witnesses herein.
afle nam and undersigned, personally came and
the NEW ORLEANS Mr y .T sii PSss
| ASSOCIATION, a corporation organized under the
laws OF this state. and having its domieile i'll this
parish OF Orleans, the said appealer herein acting
IN bis aforesaid capacity, BY virtue of resolution
adopted by the Board OF Directors of said corpora-
ton, at their sitting Of the twenty first day of
| December, eighteen hundred and seventy.two a
certified copy whereof il hereto tor refer
| ence.
| Which said appearer declared in his said DANA
city, that in order to carry into effect and causing
| to be recorded the resolutions adopted at a gene.
raj meeting of the stockholders of the said corpora-
tion, held on the twentieth day of December 1917
| pursuant to a call made by the said Board OF Dr.
recturs spt cialiy for the purpose OF taking into
| consMera ion and voting upon the adoption of
| amendments proposed TO the charter act of in
| corporation OF the said New Orleans Mutual In
| surance Association, bv the Board of Directors a
! their sitting of the eighteenth day of November
| 1871 which said call wa5 advertised by notices, a
| the New Orleans Republican, q newspaper ks..s
| lshed IN the city OF New Orleans, from the nine
teenth day of November last Until the day of hold
| ing SAID general meeting, us will more fully 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
eight hundred and ninety two shares of the capital
stock OF the said corporal on being su the steok
represented at said general meeting voted in favor
| OF the adoption OF the said amendments being
| more than three-fouIths as REQUIRED by law
He the said appeaIer, acting in his aforesaid
| the stockholders OF the said New Or y.
| Mutual Insurance
| claim and publish the said amendments to the
| charter or act OF Incorporation of the said New
Orleans Mutual Insurance Association W hich have
been unanimously adopted at the said general
meeting of the stockholders of the said co nora
tlOn to be henoeforth binding and obligator upox
the stockholders OF the said corporation and all
others whom the same shall or may oonce rn and
New Orleans Mutual Insurance Association Ia ao-
cordingly amended IN the manner foil owing
Frstly-Tha, section of article three OF the
act OF Incorporation he amended 30 Rs to read 40
follows, to wit:
ARTICLE Ill
SECrIoy l. The capital stock of this asaoc,at;on I'm
hereby fixed at the sum of three millions of dollars
OF which the one million of d0llars already SUBJ
scribed and issued shall form part. The remainine
TWO millions OF dollars OF stock shall be created and
issued as tOliows
shed under section three Vt article seven of this
act OF Incorporation shall amount TO tn Q sum Of
one million OF dollars, stock to that amo unit shall
be apportioned and n Gifted to tho stockh oders OF
the association; IN the ratio in which hey shall
pri NAL DR
million OF dollars of the capital stock an certiio
Gates OF 81 o. X, emitting them to ten per cent per
annum interest and pri viieges attached to said
original stock, shall be issued TO them accord
iugy.
VIII never, after the allotment and issue of one
million of dollars of additional stock as azores aid
the special fund created and esabH she'd by se cti0n
three OF article seven shall again amount to One
million OF CHARS, new apportionment and allot-
meEt OF stock and issue of crrti6c n tes ~
stock shall be made to the stockholders of the as-
soctatien in the reto in which they shall then be
hTat VIZ mil lion af l-1l.-
capital stock, and enttng the bearers the reof to
the same nigh aid privileges the prior issues.
And after this seeOId alor neut and issue of All.
dltonal stock the special fund established for the
purpose of increasing the stock of the ociation
As aforesaid, shall cease 10 exist
Second-Thtt article seven of the act of nicer.
poAatloh be ANT nded SO as to read az follows:
ARTICLE VII
SECTION I. From and after the beginning of tbs
third year the stockholders shall pay 10 pfemiums
on the insurance. effected by them
SEC. 2 But on the last day OF each quarter thu
president shall cause to be made % statement Of
the losses and expenses of the association, to,
terest, 10 be paid to the stockholders on their
stock paid In fun or on such part thereof as shall
have been paid, which said statements shall ha,
published as provided for in section one of articles
arv, 1871 and 1872
SIC. g. At the same time this quarterly state,
ment shall be rendered call shall be made ON
each nsuring stakeholder for a contribution on
sxtyiVe per cent on the premiums of the sums
insured for by him, earned during the exIiring
AZ
the office OF the association Immediately after the
first publication of She oal made for the same
and such call snail be published three times in NJ
least two newspapers printed in the city of New
Orleans The amount SO collected shall be aps
Pnso hrst 20 cover me losses, expenses and in
terest specified in the last quarterly statement
and the surplus il any shall be set apart and con-
stitute special fund for the increase of the CAPT
Ial 81 ock, as provided in section one of article
three of this act of Incorporation.
SEo. :. II the amount q the losses, expenses and
interest due to stockholders specified in the quar-
trrly statemenS exceed siXty-fve per cent Of the
premiums earned during the ex pring quarter but
do not exceed the aggregate amount OF said earned
premiums, then a contribution ehall be made and
called tor only for sum sufficient to cover said
losses, expenses and interest
SEQ. 5. And if the losses, expenses and interesy
incurred during any one quarter amount to a ann
exceeding the premiums earned during said ona--
ter the inBuring Stockholders shall be called 1non
and required 10 pay in full the premiums earned
during said quarter on the Dsurances effected NV
them and the excess shall be taken from the
special fund set apart to increase the capital stock
extent OF the amount of said special fund: and N
that be insufficient, from the other available re-
sources OF th1 association, as provided In this act
Of incorporation.
SEC g. After the capital stock of this associatior
snail have attained the OF three mion
contribution shall be- called for of the i1snriDr
stockholders for an amount exceeding the sum Oh
Lh- losses expenses and two ssd half per cent
interest TO the stockholders, a certained and des
slared III the quarterly statement, made and pub
lsiied by virtue VI section two of this article
SEC. l. Ne party insu il & shall be liable for coua
s1buti0ns as provided III this article to an amount
AcSoolhS inc premiums on assurances effected by
him.
Thirdly-rhat article nine of he act Of incorpos
ration DO amended 80 as to read as follows
ARTICLE TX
SECTION T. 1t shal he lawful for the Board a q
Directors to invest the capital stock and other
moneys Of the SsOciatI in sonds bills and notes
'nd IN mortgages on real estate. They may also
nv est the capital stock and other cAsh funds OF
Jhe association in any bonds q stocks created nv
'r under the laws of the United States Of thie,
state or of corporations of this State or loan tia
unds on pledge Of any of the aforesaid public or,
private securities, b0r dis or stOckA
SEQ. 2. IL SHAH be lawful also for he Board n Il
directors to purchase any property, real or perS
onal
Wherefore the said Charles Cavaroc noreovey9
declared, in his said capacity, that by virtue Of
he powers in him vested by the afores,i i'd rsaoIu5
lon, ana IN order to more iufly carry into fired
he aforesaid amendments, he does hereby decIsre
ma make known that sections of ri ella three
tc" seven and article nine Of the charter act
II corporation Of he said New Orleans Mutual
Insurance Assoc alton have ben Changed ard
n'nd ord 30 "a to read and be as Ia hereiBabov
ffl'tfL; ana no hereby authOri8es and TratilFaE
no recorder OF mortgages in ard this city and
'aIish TO record RAID amendments the books OF
W Office, AZ is required by law.
nus dore and passed New erleans in my
nice, the day month and year first above WKltteR,
4 the pre-e of Armand Riot, Jr., aud Ambruisa
D. La Plce, competent witnesses, who have signed
NTH the said appearer AUD me- notary, after read
az tho Whole.
Original siGDrd:
G. CAVAROC,
A. Pilot, JR.,
4. q. Ia PICF.
q. LBGARDLUR, IT, EOts - Sob6n
!, the unde rsIgned, Drpu,,y iGrcoT dc, of Mort
ages ioI tnls parish and 81 ~ Of ~ rieaDa State