New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-11

| i-t TINS parish and city OF New Orleans, sta q OF
Jtoussnss does hereby certify that the foregoing
ousrtcr IS duly recorded in this Ofice in book SO
1 cietY No. 9. folio SO ct seq. this day.
| new Srteans, December "a 1872
| @. DARCANTEL, Deputy.
A. PIrvr JR-. Notary Public de27law 4t
| { tdAkTER... ............CHARTER
UNITED STATES or AMERICA. STAIR ok
LOUISIANA
PARISH OF ORLEANS, CITY OF Esy oRLR.ys
Be il known that THE thirty first dav Of thu
! mouth OF December, in the year <t our Lord one
| Thousand eight hundred and seventy,two and On
| the Independence OF the United States OF america
the ninety seventh. before me- Grs: ave Lee Gsrieur
| Jr., notary public duly commissioned and sworn
III aud for the parish and city Aforesaid therein re-
siding. and in the presence OF the witnesses herein
after nam and undersigned, personally came and
appeared Charles CayarOc, Esq of this city presi-
dento the NEW ORLEANS Mutual INSSRINCR
! ASSOCiAFlDS, a corpora ion organized under the
laws OF this State, and having its dOmcile in this
paytsh of Orleans the sail appeater herein acting
IN his aforesaid capac ty. by virtue of resolution
adopted by the Board Directors OF said corpor,-
tloD. at their Sitting of the twenty first day Of
| December, eighteen hundred and stventy.tw a
certified copy hereof is hereto annexed for refer.
| ence-
Which said appesrer declared in his said caps
city, that in order to carry into effect and causing
TO be recorded the resolutions adopted ut "A gene.
raj meeting OF the stock h0ders of the said CORPORA
ton. held on the twent To day sf December tsTs,
pursuant to "a call made by the said Beard OF Di.
rectors specially for the purpose of taking into
adoption
amendments srOposed to the charter or act of in
corporation of the said New Orleans Mutual In
surance Association bv the Board of Directors at
their sitting of the eighteenth day of November
l8'2 which said call was advertised by notices In
the New Orleans Republican, a newspaper pub
hshed In the city OF New Orleans from the nine
teenth day ofNOvemher last until the day of hold
ing said general nut citing will more fully appear
by reference TO the annexed certified copy OF tho
proceedings Of the said general meeting OF tho
stockholders, wherein stockholders owning and
representing in the aggregate seven Tho1Isand
ftHA aharp inf IL
stock OF the said corporal on beng al. the stock
represented at said gene al meeting. voted in favor
OF the adoption OF the said ameudu ents being
more than threesfeurths, al required by law.
He, the said appesrer acting III his aforesaid
the stockholders OF the said New Or.
leans Mutual Insurance Association declIre pro
charter or act OF Incorporation of the said New
Orleans Mutual Insurance Association HIGH have
been unanimously adopted at the said general
meeting of the stockholders cs the said corpora
ton, TO be hencefOrth binding and igatoIy upon
the stockhoders OF the said corporation and ali
others whom the same shall or may oOncern aud
that the charter act of incorporation of the said
New Orleans Mutual IRsuranee Association is 40
cordtngly amended In the manner following
to wit:
Firstiy-That section one of article three Of tho
act OF Incorporation be asnended to read $40
follows, to wit;
SKCTIoS The capital stock of this association Ia
hereby hXed ut the sum of three millions OF pillars
of which the one million Of dollars already sub
scribed and issued shall form part. The remaining
issued a. follows:
Whenever the special fund created and estab-
lshed under section three of article seven OF this
act OF Incorporation shah amount to the su IN of
million of dollars, stock that amount shall
be apportinned and allotted to the stockhOders Of
the citation, in tho ratio In which they shall
then resp ctiyey be holders of ,he origin al ono
million OF dollars Of the capital stock and certi6-
Gates Of so X, emitting them to per cent per
annum interest and privileges attached to said
sriainal stock, shall be issued 10 them accord
ingly.
Wnt never, after the allotment and issue Of oua
million of doilars of additional s. ok aforesaid,
the special fund created and ssts he'd by section
three of article seven shall again amount to one
million Of dollars new superintendent and alIot-
meat of stock and new Issue OF c~rtifiostss Of
stock shall be made to the Stockholders If the
sociatisn in the rtio IN which they shall then se
holders of the first two millions of dollars of tho
capital stock, and emitting the bearers hereof to
the same rig and privileges as the prior issues.
And after this second allotment and lsAn OF ad-
dtionai stock the special fund established for the
purpose of increasing the stock of the sssOcl.tiOn
Aforesaid, shall cease I'd exist
Second-That article of the act of incoE-
p0l atoIsbe amt aided so as to read Us follows
ARTICLE VII.
SECTION !. From and after the beginning of the
third year the stockholders shall pay 10 premiums
on the insuranCes effected by them.
SEC Q. But on the lest day of each quarter The
president shall cause TO DO ulade a statement Of
he losses and expenses of the association. 10
which shall be added two and a tai IeI cent In
terest. to be paid TO the stockholders their
stock paid In full such part thereof as shall
have been paid, which SAID staten Atr shall DO
published provided for i'll section OF article
ary 1871 and 1872.
SIC . At the same time So tha eua' terlv state
Inent shall b. rendered call ehalI he mad On
each insuring stakeholder for n contribution Of
sixtY-ive per cent on the premiums of The sums
insured for by him, earned during the exl ring
quarter. which said cont outlOn shall be paid at
the office of the association immediately after the
fret publication of the call made for the same,
and such call ANAL be Published three times In a.
Hast tive newspapers printed in he city Of New
OTieans- The amount 50 collected shall bt; ap-
piled first to cover the losses expenses and in
and the surplus il any, shall be act apart and con
stitute a special fund for the Increase OF the capt
tai ock, provided in section one of Article
three of this act Of incorporation
sEC 4. Ii the amount VI the losses, expenses snd
utert ct due to stockholders specified la tie guar
terry statement exceed sixty five per cent Of the
premiums earned during the ex piring quarter but
DO not exceed the aggregate amount OF ss,d eerned
pramiurns then contribution shall be made and
eallN1 for only for sum sufficient TO said
lsssss, expenses and interest
SEC 5. and II the losses expenses and interest
incurred daring any Que quarter amount 10 IA sum
exceeding the prem earned during said quar-
ter the iusuring stock holers shall be called upon
and required to pay i'll full the premiums earned
during said quarter on the fnsurauo effected by
them, and the exec shall be taken from she
specia fund set apart to Increase the capital stock
provided in section three of this article TO the
e Atent OF the amount of said special fund; and If
that be insufficient, from the other available re-
sources of tho association, as provided this sot
of incorporation
sko s. After the capital stock of this association
shall have attained the sum OF three millions
of dollars IS Providfd Ia article three no
ckh0iders for an amount exceeding the cum Of
the iosses expenses s,,d two sEd half per cent
interest 10 the stock bolders, certained snd de-
elared in the quarterly sta ement, IN de and pub
bshed b. virtue "f section two # this article.
Sac. T. Nc party lnsuiiL shall be liable Tor
tIibHtleus provided Ill this article. to amount
exceeding the premiums Oh insurasces effected by
him.
Thirdiy-Thst article nine of the act Of incorpo..
rstisn Dc amended 30 AZ to read 81 follows:
ARTICLE TX.
SECTION |. II shall be lawful for the Board OF
n tsys IN he tai sta md rth
money! Of the associate In bends b. q, and DOtes
and in mortgages on real estate. They may also
invest the capital stOek and other cshh funds Of
or under the laws of the United States, Of this
State, Of corporations of this state, or loan its
funds pie dye OF any OF the aforesaid public or
priv seeur ties, boUds or stocks
SEQ. q IL shall be- lawful also for the Board OF
Drectors 10 purchase any property, res. or per-
sonal
wherefore the ssid Charles Cavaroc moreover
declared, tn his said capacity, that by virtue Oh
the powers In him vested by the Azores id resol+
ton, and In order to more July carry into dect
the aforesaid amendments, he does hereby declare
and make known tn tt secttr ms of rucle three
article aud article nine Of the charter act
Of IL corporation of the said New Orleans Mutual
Insurance Association have BEEN changed and
amended to read aud Ire - is hsreinabDv
written; and he hereby authorizes and rruuires
The recorder Of mOrtgages i'll ard sor this city and
PAL iah 20 record ssid dment8 the books Of
his Office. ~ is required by law.
Thus done AMI passed at New Orleans In ms
Office the day month ard year first above written
IA the presence uf Armand ptot j.. aud Ambroisa
q. La Pioe competent witnesses vino have signed
with tho -aG regIeS and lhG, notary after read
ing he eh"is
Grtgeu . s,yuei:
o. CsTsgOCs
a. SIg'IT, Jt.,
A. -. Ia PICE.
S.GEGARDhUH, j., E0tar, Public
I" - unSerrispti Deputy ~ c0Ider II WORT