New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-01-03
A. Prior, JR., Notary Public.
CHARTER.
CHARTER.

| C. DARCAETEL, Deputy.
A Prior, Jn., Notary Public. de27 law At
| CHARTER. ......................C CHARTER.
United STATES OF AMERICA, STATE OF
LOUISIANA.
PARISH OF ORLEANS, CITY OF NEW 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 of
the independence of the United States of America
the ninetyseventh, before me, Gustave LIE Gafdeur,
Jr., notary public, duly commissioned and sW orn
in and for the parish and city aforesaid therein
siding and in the presence of the witnesses herein
| after named and undersigned, personally came and
appeared Charles Cavaroc ESQ, of this city presi.
| dent of the NEW ORLEANS MUTUAL INSURANCE.
ASSOCIATION a corporation organized under the
laws of this State, and having its dOmcile in tn
parish of Orleans, the said appearer herein acting
in his aforesaid capacity by virtue of a resolution
adopted by the Board OF Directors of said corror
tlCR at their sitting of the twenty first day Of
December, eighteen hundred and seventy-two,
certified copy whereof is hereto annexed Tor re1eT'
enCe.
Which said appearer declared in his said capa-
city that in order to carry into effect and causing
to be recorded the resolutions adopted at gene
raj meeting of the stockholders of the said corDO-2
ton, held on the twentieth day of December 1872
pursuant to a call made by tho said Board of D.
rectOrs specially for the purpose of taking into
consideration, and voting upon the adoption of
amendments proposed to the Ct aroer act of IL
corporation of the said New Orleans Mutual In
surance Association, by the Board of Directors, at
their sitting of the eighteenth day OF NDTeDb 7,
1872. which said call advertised by notices II
the New Orleans republican, newspaper p b.
lished in the city of New Orleans, from the nine
teenth day ofNovember last until the day of hoi6-
ing said genera m ing, 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 thOusa d
eight hundred and ninety two shares of the capt. l
stock of the said corporation being all the STOCK
represented at said general meeting voted in faSOr
OF the adoption Of the said amendments, being
more than three -fOurths, as required by law
He, the said appearer, acting in his aforesaid
capacity, does by these presents, in behalf OF
the stockholders OF tie sad New o.
leans Mutual Insurance Association, declare. pro-
claim and publish the said amendments to the
charter act OF Incorporation of the said New
Orleans Mutual Insurance Association, " hich have
been unanimously adopted at the said general
meeting of the stockholders of the said corpora
ton TO be henceforth 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
cOrdingly amended in the manner following,
to wit:
Firstly-That section one of article three of the
act of incorporation be arCaded so as to read as
ARTICLE Ill
SECTION l. The capital stock of this assoolationis
hereby liked at the of three millions OF dollars
of which the one million of dollars already sub
scribed and issued shall form part The remaining
two millions of dollars of stock shall be created and
issued follows:
whenever ithe special fund created and estab.
lshed under section three of article 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 association in the ratio in viii CHI they shall
then spectively be holders of the original one
million OF dollars of the capital stock. and certif
Gates of stock, emitting them to ten per cent per
annum interest and privileges attached to said
original stock, shall be issued to them accord
ingy.
Whenever, after the allotment and issue of ore
million of dollars of additional stock as aforesaid,
the special fund created and established by sectiC
three of article seven shall again amount to
million OF dollars, new apportOnment and aIiot-
ment of stock aud new issue of certificates of
stock shalfbe made TO the stockholders of the
sociatien il the ratio in which they shall then be
holders OF the first two millions OF dollars of the
capital stock and eaItling the bearers thereof to
the same rights and privileges as the prior issues
And after this second allotment and issue OF adj
dtional stock the special fund established for the
purpose of increasing the stock OF the association,
aforesaid, shall cease TO exist.
Secondhand article seven of the act of incoT-
p0Iation be amended SO as to read as follows:
ARTICLE VII.
SECTION l. From and after the beginning of the
third year the stockholders shall pay no premiums
on the assurances effected by them.
SEC. , But on the last day of each quarter the
president shall cause TO be made a statement OF
the losses and expenses OF the association, to
which shall be added two and a half per cent in
teTest, TO be paid TO the Stockholders their
stock paid in full or on such part thereof as shall
have been paid, which said statements shall be
published provided for i'll section one of article
six for the annual statement to be made in Janu
airy, 1871 and 1872.
SEC. 3. At the same time as this quarterly state
meHt shall be rendered q call shall be mad OIL
each insuri1g stock older for a contribution OF
sIztv-hve per cent on the premiums OF the Sums
insured for by him, earned during the eXpiring
quarter which said contribution shall be paid at
the Office of the association immediately after the
first publication Of the call made for the same;
and such call shall be published three times in at
least two newspapers printed in the city of New
Orleans. The amount SO collected shall be ap
piled first to cover the losses. expenses and in
tereSt specified in the last quarterly statement,
and the surplus if any, shall be set apart and con
sttute special fund for the increase OF the capt
tai stock, AS provided in section Of article
three OF this act OF il corporation.
SEC. t. If the amount of the losses, expenses and
interest due to stockholders specified in the quar-.
terry statement exceed siNty-tive per cent OF the
premiums earned during the expiring quarter but
do not exceed the aggregate amount of said earned
premiums, then contribution shall be made and
called for only for a sum sufficient to cover said
LOSSES expenses and interest.
SEC. s. And il the losses, expenses and interest
incurred during any one quaIttr amount to sum
exceeding the premiums canned during said quar-
ter, the Insurng Stockholders shall be called upon
and required to pay i'll full the premiums earned
during said quarter the iUsurances effected by
them, and the excess shall be taken from the
special fund set apart to increase the capital stock,
provided in section three of this article, to the
eat mt OF the amount OF said special uld; and If
that be insufficient, from the other available re.
sources Of ths association as 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, 10
contribution shall be called for OF the insu1iDg
StOCkl O.deTs for an amount exceeding the sum Ot
the losses, expenses and two and half per cent
interest to the stockholders, certained and de
clartd III the quarterly statement, made and pub
lshed by virtue Of section two of this article.
SEC :. No party EsurIg shall he liable ior con-
tribHtons provided in this article, to an amount
exceeding the premiums on assurances effected by
him.
Thhdly-That article nine OF the act of ncorpo.
ration be amended SO as to read follows
ARTICLE TX.
I,a tor +N,a poard If
Directors to invest the capital stock and other
moneys of the associate, il bonds bills. and notes
and i'll mortgages on real estate They may also
invest the capital stock and other cash funds of
the association in any bonds or ct
ga ruU tars OF the Upfted States, of this
state OF OF corporations OF this State, or loan its
funds OF pledge Of any of the aforesaid public or
private securities, bonds or stocks
SEC. ,. K small be lawful also Tor the Board of
Directors to purchase any property, rea. or pei
wherefore the said Charles Cavaroe moreover
declared, il his said capacity. that by virtue OF
the powers III him vested by the azores lid rgsOiu-
ti"h ana IN order TO more July carry into effect
Inc aforesaid amendments he does hereby declare
and make known that sections one of article three
article seven and article niHe the charter act
Of Incorporation OF the said New Orleans Mutual
Insurance Association have been changed and
amended so as to read and he as is herCinabOvc
written; and lie hereby authorizes and requires
the recorder OF mortgages in ard lor this city and
parish to record said amendments on the books OF
ms Office, as IS required by law.
thu done and passed at New Orleans. in my
office. The day, mouth and wear frs above written,
in the presence Of Armand Filot, j.. and Ambfoise
q, La Pice, competent witnesses, who have signed
with the said appearer and me, notary, after lead
ing the whole.
uLs-ual signed:
G CATAROC
i. PIFDT, ia.
a g. la PiCE.
G. LEGAEDErR, Jr, KOtary Public.
|, tho nn1ers sntd. Deputy Recorder Of Mort.
cages GT this parish and city of New Orleans State
o. Lou atna, do hereby certify that the foregoing