New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-02-16
CORPORATIONS.
CHARTER........ CHARTER.
STATE OF LOUISIANA, CITY OF NEW ORLEANS

STATE OF LOUISIANA CITY OF NEW ORLEANS
Be it known, that on this thirtieth day of De
| cember. in the year one thousand eight hundred
notary public in and for the city ana parish of New
Orleans. State OF Louisiana. aforesaid. duly com
mlssaSns sd and sworn personally came and ap
herein a acting fer the LOUISIANA EQUITABLE
LIFE INSURANCE COMPANY, corporation duly or
before me, notary, on the enty-tfth of March
| 1868. who declared that, pursuant to the above
eral meetings of the stockholders of said com psnv
were convened and held at the Office of said com.
pany in this city for the purpose of vsting upon
porati0n said meetings being held as follows, to
| wit: The first on Wednesday. the third day OF
| fish and French languages published in the New
Orleans Daily Times and the New Orleans Daily
Bee; the second or Tuesday, the sixteenth day Of
September, 1873, after thirty days notice. in the
English and French languages, published in the
New Orleans Daily Picayune and the New Orleans
Daily Bee, and the third Monday. the fourteenth
Of December 1874, after thirty days notice, in the
English and French languages. published in the
New Orleans Daily Picayun and New Orleans
Daily Bee-all said newspapers being published
daily in the city of New Orleans
And that. at each OF said meetings stockholders
ent and represented have voted for the adoption
OF the amendments proposed to said act of incor-
reference to a certified copy Of the process verbal
OF said meetings, annexed to the margin of this
act for reference.
And The said Samuel Manning Todd, acting as
aforesaid. declared that by virtue of the powers
in him vested. and in order more fully to carry
into effect the said amendments, and of causing
the same to be recorded, he does hereby publicly
declare and proclaim the changes additions, al
teratioDs and notifications made to the charter
OF the ouisiana Equitable Life Insurance Com
pany to be as follows, to wit:
Article third is amended SO as to read as fol-
lows, to wit:
ARTICLE Ill.,
AFTER the words official papers" ipsert) The
stock OF the company Is Increased four thou
sand shares of fifty dollars each. Subscribers shall
the time of subscription, and for the remainder Of
said subscription, shall give their stock notes.
directors from time to time, as necessity NAV re-
qu;re; provided no call shall exceed five dollars
per share-thirty days published notice Of which
shall be giveD provided, also, that calls shall not
be made oftener that once in ninety days. This
increased stock shall DO preferred stock; the
amount thereon paid in cash, and all future divi.
dends hereinafter named, to be credited on said
stock notes, shall be entitled to eight per cent Der
annum interest from the respective oates Of pay:
ments, or dividend credits which interest shall
be calculated to the first day Of January. in each
year. and payable on the first Monday in February
stock snail be entitled to participate in the profits
OF the company to the extent OF the same percent
age a. no on on S5d
and such profits shall be credited. when declared
on the stock notes held by the company, long a.
said stock notes, OF any part thereof remains un-
paid. Full paid preferred stock shall receive dvi.
dends in cash. The preferred stock. to the extent
paid, shall be a first claim on the assets of the
company, after the payment of its Indebtedness.
Article fourth is amended so as to read as fol-
lows, to wit:
ARTICLE ".
The Board Of Directors Of this company, on and
after the first day of May next, 1872, shall consist
of twenty-four members six Of whom shall con-
stitute quorum.
Article seventh is amended so as to read as fol-
lows, to wit:
ARTICLE VII.
after the words "their office therein" insert)
The Board of Directors shall also have power to
earned in such places and States where the COM
gany shall have established agencies and branch
improved real estate or invest the same in honda
and stocks created by under the laws of the
States where such premiums shall have been ao-
Qulred.
Article ninth Of the original charter, and amend
ment thereof made on the eighth of July, 1870, 10
stricken out and the following substituted in its
lieu and place:
ARTICLE TX.
In the month of December in each year, tho
president and directors Of the company shall
make. or cause to be made by the proper officers
OF the company, an annual statement of the If
fairs of the company, which statement shall be-
verified by affdavits and filed with the papers Of
the company for examination and information Of
all parties interested; first statement to be pre-
sented to the regular board meeting in January
1876 an actuary Calculation of the net reserve re-.
1uired On policies in force, determined by tho
American table of morality and six per cent inter
meeting in January of each year. and It shall bo
the duty of the board to set apart from the assets
First-A sufficient amount to cover the net re-
serve required by insurance law, &C cording to
the American experience table Of mortality, and six
Second-A sufficient amount to pay the interest
on the preferred stock set forth in tcle third
I'hird-A sufficient amount to pay an interest
of five. per cent per annum all the original fun
paid stock of the company, interest to commence
1 from the first of January, 1875 and to be calcu-
n and tn xn
payable on the first Monday in February Of each
year, and if it shall appear after the net reserve
has been provided for thar the profits OF the COM
pany DO exceed its losses by more than ten per
6 6eata Q, ts eapts III sneE then Ct said
declare such dividend to be paid premiums on
mutual policies of three or more years standing,
and credits to be entered pre- frred stock notes
or dividends paid on full paid preferred stock a.
set forth in article third, as they may deem ad-
vsable; but If it shall appear that the profits do
cent, no dividends shall be declared.
Thus done and passed in my office, at the city
the day, month and year first above written, and
in presence of Messrs. Louis NJ. Ducros and An
their names with said appearer and me- notary.
Original signed:
SAMUEL NJ. TODD.
l.. M. DUCROE,
A. MARMONGET
NJ. T. DUCROS,
Notary ,if.
certify the foregoing to be a true copy oi tho
original act extant in my current register.
New Orleans, December so, 1874.
MT. DUCROs Notary Public.
I, the undersigned deputy recorder Of mort.
cages for the parish Of Orleans do hereby certify
that the foregoing act was this day duly recorded
in my office, In book No. lI8, folio $40 and seq.
New Orleans, December 81, 1874.
G. DARCANTEL,
]ai9 26 fe2 9 l6 Deputy Recorder.