The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-02
CHARTER.

1
ON this eighth day Of May in the year one tLoasan
eight hundred and seventy five, before me, job
Bendenagsl notary pnhli! in and for the pa!ish {
qualified and IN H. preeenos Of the Witnesses her
matter named md underigned-
cs1o s Seh :ed p sosPc s
Paul Rousset, Charles 81 Mi, Lawrence Mers Va
entns Fabian Charles A. Stein Patrick Cl,sa , Ia,
is:sss q sisorssy dated sizfh Nay, 1875 hslsunt
Who Severely declared that availing themselves
; the rights and privileges conferred BY the laws Q
this State relative to the organization Of corpors
o, to snd
The ssipuistons. rsguistions and obligations follow
ARTICLE FIRST.
iaIOUISTANA BENEVOLENT LIVE STOCK IN
ISURANCE COMPANY OF NEW ORLEANS
and its domicile shall be in the CITY Of New Orleans
Twenty five years from the date Of this char or an,
shall have power and authority to contract, sue an,
be sued in its corporate name All citations notices
be interested shall be served upon the President
| said com any The seal Of said corporation shall
have for its device the picture Of horse with tn,
be the words % Louisiana, Benevolent Live Stock In
surance Company q New Orleans. La"
ARTICLE SECOND.
The objects and purposes for which said corpora
ton is established and the nature of the business
be carried on are hereby declared to be:
Fifst-T0 make insurance upon horses mules
COWS and other live stock
Secondly-To indemnify the owners Of such live
stock who have effected insurance in said company
against any loss Of said live stock either BY accident
| or in the event Of death.
Thirdly-To secure better care and attention *
working stock.
L IT, - as~>Yr -.
live stock insured in the company.
| ARTICLE THIRD.
Tho Capital Stock Of said COMPANY il hereby fixed
ct Twenty. five Th0usard Dollars divided into
twenty five hundred shares of Ten Dollars each
with the privilege Of inceasng said capital stock to
empowered to commence business SO soon as five
Thousand dollars of its capital stock shall have been
subscribed and the requisites Of the law complied
| with. The payment Of the capital stock shall be
made - follows: Fifty per centnm in cash, and for
the balance each subscriber shall furnish his promis
s@y note payable on the Drst day Of May 1876; said
should the Board of Directors deem the same
sary. No stockholder shall in any event be made
LIABLE for larger amount than ne g. unpaid balance
or their Indebtedness to the Company. Subscribers
may 1t any time pay up the full amount Of their
hereinafter provided shall attach to such subecrip-
tons from the dste that such full payments shall
have been made. III transfers Of stock shall be
maze ON Inc DOOKS OF inc OCmp8uy OlC0 only.
Transferees Of stock not fully paid up shall assume
all indebtedness thereon and the same shall be ap-
proved by the Board of Directors. Upon the failure
upon him. the stock owned By such holder, with
al The accommodations thereon, shall be liable to for
feiture to the Company by . vote Of the Board Of
Directors may extend said payment for such time
they may deem proper or the Company may enforce
the payment thereof
An interest dividend Of ten per cent the amount
paid in shall be payable annually the first Monday
In May Of each year, commencing with the year 1s76
the profit remaining to the company shall be appro-
the creation Of Reserve Fund" stock dividend
Of ten per cent shall be payable to the
their paid up stock and the balance shall be di-
pany An interests received or profits realized on
loans and investments shall also be placed in the
/" Reserve Fund" No payments of losses shall be
funds of the company excepting the capital stock
shall have been exhausted.
ARTICLE FOURTH
An the corporate powers Of this Company shall be
vested in and exercised by the President Superin
tenaent and Board Of Directors c0mposedof seven
stockho!ders, i ending the PIa(idsnt Each Of the
n his own name ct least ten shares of the Capital
Stock Of the said Company. Tho officers Of the Com
pany shsa consist of President, Secretary. Super
intendent and Inspector who shall be elected annu
ally, and hold their Offices for the period Of one
year. Until the first election to be held in the
month Of December 1873 and until their Successors
grotto, Jr, shall be President A. H Pons Vice
President; Charles II. MIL Secretary; d. Leubrie,
Superintendent and DR.. Charles A. Stein, Inspector
" The first Board II Directors shall consist of the
following stockholders of the Company, to-wit:
R.1 Pos. sssoh s% :ud IsSsse
The said Board shah continue in Office until the
first Monday Of the month of December, in the year
successors shall have been duly cleo ed and qualified
The President shall preside at all meetings of the
Board Of Directors and Stakeholder Of the Com
10 al easenf
acts required for the Transaction of the business of
the Company. In case Of the absence Of the Presi-
his stead and exercise all his powers and functions
The Vice President shall be the Chairman of the FL
nance Committee It shall be the duty Of the Super
appertaining to his department. He shall, in con.
junction with the Inspector, make monthly tour of
inspection Of the live stock insured in his Company
report any violations of the rules of the Company
and shall upon the death Of any animal insured by
the Company make careful inquiry. and ascertain
the nature and cause Of death. He shall appoint
all agents subject to the Presidents approval
1t shall be the duty of the Inspector to examine all
animals offered for insurance report their condition
81 furnish such statements to the Superintendent
and President of the Company. The Inspector with
the Superintendent shall make monthly Oint in
Inspector ska also promptly attend with medical
surgical relief to all animals insured in the company
and which have been reported sick and render such
aid until their restoration to health.
ARTICLE FIFTH.
All assurances effected in this Company shall be
upon the basis of tw0thirds value or less but no
upon any single animal shall amount to
over one hundred and fifty dollars. There shall be
specific amount stated upon each animal insured.
Upon the desth Of any live stock insured in this
It shall be the duty of the owner thereof
to give immediate notice ,not exceeding five hours,
occurring In the day. andffteen hours if happening
1t night to the Company The Inspector shall make
rigid examination Of such deceased Live Stock, in
YES igatng fully the of DEATH whether by acct
dent natural causes, cruelty fraud, and no policy
holder shall demand claim or recover from said Cor
poration any payment of loss without first having
obtained and presented certificate signed by the
Inspector and superintendent and approved by the
President Of the Company.
ARTICLE SIXTH.
There shall be general meeting Of the Board of
Directors the first Monday in May, September and
January Of each year. Four Directors shall consti
Eute quorum for the transaction of business.
ARTICLE SEVENTH.
It shal be the dutv of the President to cause to be