New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-31
CORPORATIONS.
NHARTER..
.R3RWEdH,s
NRPARTE&. 'SAHSA@e .
UNITED STATES OF AMERICA STATE cS
LOUISIANA.
PARISH OF ORLEANS, CITY OF sES oRIRAsi

| LOUISIANA.
PARISH OF ORLEANS, CITY OF EES ORIsAssI
Be IL known that on this thirty first day or the
month of December in the year of our Lord one
thousand eight hundred and seventy'two and OF
the ndepend ence of the United states OF shes1cse
the ninety seventh before me, Gusave LIE Gardeurs
| Jr. notary public, duly commissioner ana "orn'
in and for the parish and cry barei
aft named and undersigned. personally came aIo
appeared Chares Csyaros ksa q tl fS SSi
| ASSOCIATION, a corporate ion organized under the
laws of this State and having its domlclie IN TINS
In his aforesaid capact y, by virtue of resolution
| adopted by the Board ~ Directors of said corpora
| ton, at their sitting Of Me twenty hrst cay Oh
| december eighteen hundred and seventy-two,
certified copy b. reOf is hereto annexed Tor Ieef
| ence
| which said appearer declared in his said caps-
CITY, that in order to carry into effect and causing
| to be recorded the resolutions adopted at gene
raj meeting of tine stockholders of the said corpora
| ton held on the twentieth day of December, 1872
| pursuant to a call made by the said Board OF l1-
| considera ion and voting upon the adoption Of
| amendments proposed to the charter or act OF m
surance Association, BY the Board of Directors az
| their sitting of the eighteenth day OF November
| the New Orleans Republican. a newspaper Ph--<
| lished in the city of New o. leans, from the pine-
teenth day of November last until the day OF holo
inc said general meeting will more fully appear
BY reference to the annexed certified copy OF the
| proceedings OF Jno Salu Sentldl "'V''nS VI
| stock holders wherein Stockholders owning and
| representing in the aggregate seven thousand
eight hundred and ninety two shares CT INC captaA
stock of the said corporal on, being 81 Ihe stock
represented at said general meetiAg yoted h favor
| of the adoption of the said amendments, oelnS
more thaa three-fourths as required by law
He, the said appearer, acting in his aforesaid
eSpaeiiy does ' of the said New Or
leans Mutual Insurance Association, declare, proS
claim and publish the said amendments to the
charter or act OF incorporation of the SAID New
| Orleans Mutual Insurance Association, hch have
been unanimously adopted at 1t the sa'd general
ton to be henceforih binding 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 ae-
cordingly amended III the manner foiioWlpS
rirstiy-That section.one of article three d2 pto
act of incorporation be assembled so as to HS&d rs
| follows, to wiz: r,c,,u
SECTION ! The capital stock of this ASSOCIATION N
| hereby fixed at the sum OF three millions OF dollars,
| of which the million of dollars alreaay sub
scribed and issued shall form part The remaining
two millions dollars of stock shall be created and
| whenever the special fund created and estab-
lished under section three of article seven'of this
| act of incorporation shall amount TO the sum 81
| one million of dollars, stock to that amo unit shall
be apportioned and allotted to the stockh olders o.
| the association in the ratio i'll hch they shall
then resp, ctvely be holders of The orr ginal ono
million OF dollars of the capital stock and certif-
| Gates of sto k emitting them to ten per cent PEP
| annum interest and privileges attached 10 said
| original stock, shall be issued to them accord
| ingly.
million of dollars of additional st ok aforesaid,
the special fund ated and established by section
| three of article seven shall again amount to Ons
| million of dollars aprOrtiOnment and allOt-
! ment of stock and new issue of ccrtihca tes OF
stock shall be made to the stockholders ef the as
| 4iatien in the ratio in which they shall then be
holders of the first two millions OF dollars of the
capital stock, and emitting the bearers thereof to
4 the rights and privileges as the prior issues
And after this secOEd allotment and issu. of ad-
ditiOna stock the special fund established for the
purpose of increasing the stock of the association,
| as aforesaid, shall cease 10 exist.
| Second-That article of the act Of ircOr-
| poIatien be tnded SO as to read as follows;
F.; ARTICLE VII.
SEcTloN l. From and after he beginning Of the
third year the stockholders shall pay Pre- miums
on the assurances effected by them.
SEC. 2. But on the last day of each quarter the
| president shall cause to be made statement of
| The losses and expenses of the association, to
which shall be added two and a hal, PEI cent in
| teIest, to be paid to the stockholders on their
stock paid in full such part thereof shall
| have been paid, which said stateme nts shall be
published as provided for III section one Of article
six for the annual statement TO be made III JanI-
airy, 1871 and 1872
ment shall be rendered a call shah be made on
| each insuring stockhold for a contribution of
| sixty five per cent on the premiums of The sums
| insured for by him, earned during the cXErinE
| quarter, which said contribution shall be paid at
the office of the association mmediately after the
first publication of the Call made for the same;
and such call shall be published three times in al
least two newspapers printed in The city of New
Orleans. The amount 30 collected shall be ap.
piled first to cover the losses, expenses and in
ierest spec fled in the last quarterly statement,
and the surplus, If any, shall be set apart and
stitute special fund for the inc OF the Capi-
tai stock, as provided in section of article
three of his act of Incorporation.
SEC. 4. Ii the amount If the losses, pensPs and
interest due to stockholders specified in the quar-
| tery statement exceed sixty five per cent Of tins
premiums earned during the eX piriug quarter, but
do not exceed the aggregate amount OF said earned
premiums then "a contribution shall be M tde and
! called for only for sniff Gent to 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-.
and required to pay in fun the premiums earned
during said quarter on the assurances effected by
them, aid the exctss shah be taken from the
special fund set apart to increase the capital stock
as provided i'll section three of this article to the
extent of the amount of said special fund; and II
that be insufficient, from the other available re-
of incorporation.
SIC g. After the capital stock of this association
shali nave attained the of three lion.
OF collars, as provided in article three rs
contribution shall be called for U1 the nsuring
STOCKHOLDERS Tor an amount exceeding the sum 81
the losses, expenses and two and half per cent
interest to the stock holders, a certained aud de-,
cared IN the quarterly statement, M de 2ndpsh.
J lished by virtue Of section Two of this article
SEC :; No party insp!ipg shall be liable forc
t'loutouS as provided i'll this article to an amour.
exceeding the premiums on assurances ,et1ccHad by
Thrdly-That article nine of the aetaf income,
f&Iloh DC amended so as to read as fOlcys.
ARTIC1R I&
SECTION |. 1t shall he lawful FOR tase, hoard n
| DIleclors 10 invest the capital stock and other
hoAt5s OF the associate in bends bills and notes
anu IN mortgages on real estate. They NAV also
| invest tue capital stock and other cash f1nds ~
tne ASSOCIATION in any bonds or stocks created nv
| OF uhder Inc laws of the United Stat4s of this
STATE or OF corporations of this State or loan itg
Iuius on pledge Of any of the aforesaid pubir a.
! are stcur, ties boz d5 stocks
| &c T. II Shall be lawful also for fbe g2nard O
Directors TO purchase ~
| sOnal -" PioPoi'o' i''' Vi pe-s
| " therefore, the said Charles Gnvaroc borrower
Iec4dfeu, III ms said capacity, that bv virtue of
80 ~ PoW5ts III Nun vested by the afores ID resolu.
Goh, anu III order to more fully carry into effect
| lAG aforesaid amendments, he does hereby declaIs
"tiu Hike hnoWn that sections of article three
astice seven and article nine of the charter art
| VI lCoi pOratl0n of the said New Orleans Mutual
| insulauce Association have been changed and
aihtHhd so as to read and he as is her,inaboye
'"li'teL; ana he hereby authorizes and rpunires
me recorder OF mortgages in and lOr This city and
PaIlsH 10 record said amendments on the hooks of
| MS once as is required by law
o. nus done and passed at New Orleans in nv
oce the DAY, month and yeaI first above written
~ me presence OF Armand Pilot Jr. and Ambrose
VI: La rice, competent witnesses who bave signed
WIN he sara aptearer aud me- notary after rt77e.
Original signed:
G. CAVAROC
A. PIFOT IL
A. q. LA PICR.
u LEGARDtUR, Jr., Sotars Public