New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-02-03
CORPORATIONS, ,
CHARTER '''.'.... ............CHARTER.
STATE OF LOUISIANA, CITY OF NEW ORLEANS,

Be it known, that on this thirtieth day OF De.
cemoer 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.
missiansd and sworn, personally came and ap:
LIFE INSURANCE COMPANY. a corporation duly OF.
before me, notary, on the twenty.ffth Of March.
1868, who declared that, pursuant to the above
meetnSs Of q the three several gen
were convened and held at the office Of said com
pany In this city for the purpose Of voting upon
porati0n; said meetings being held follows to
wit The first. on Wednesday, the third day Of
lish and French languages. published in the New
orleans Daily Times and the New Orleans Daily
1ns s on the a1teenth day Of
MN Orleans 6aily and the Kew orleans ans
OF December, 1874, after thirty days notice in the
Epgish and French languages. published in tho
New Orleans Daily Picayuhe and New orleans
daily IN the city of New Orleans
And that. at each of said meetings, stockholders
holding aHd owning the whole of the stot pres-
ent and Represented have voted for the ADDICTION
OF the amendments proposed to said act Of incor.
reference to certified copy of the process verbal
OF SAID meetings, annexed to the margin of this
And the said Samuel Manning Todd acting az
aforesaid declared that by virtue of the powers
IN him vested and in order more fully to carry
INTO enect the said amendments and of causing
the same to be recorded, he does hereby publicIV
declare and proclaim the changes, additions az
teratons and notifications made to the charter
Of the Louisiana Equitable Life Insurance COM
pany to be az follows, to witt
Article third is amended as to read 20 fol,
ARTICLE III.
after the words "official papers" insert Tho
stock of the company Increased four thou
sand shares, of fifty dollars each. Subscribers shall
cent tha mt
the time of subscription, and for the remainder Of
sald subscription, shall give their stock notes.
directors, from time to tlme as necessity NAV re.
qu:re; provided, no call shall exceed five collars
pes pa days published notice OF which
be made oftener that once in ninety ,ays This
increased stock shall be preferred s;jek; the
amount thereon paid in cash and all flit...e liyi-
dends, as hereinafter named to be credl,eo I'm said
stock notes. shall be entitled to eight per ceat per
annum interest from the respective dates OF nav
ments, or dividend credits which intcrcst sEaiI
90 calculated to the first day Of January, IN each
year. and PAYABLE on the first Monday III February,
commencing IN February, 1876. All said pre- fe rred
stock snail be entitled to participate in the rrotS
OF the company to the extent OF the same percent.
nary life mutual policies of three years standing.
and such profits shall be credited. when declared
on sai de stock notes held by the company long
said STOCK notes, or any part thereof remains ur.
Rsa Fu paid stock shall
paid shall be rst cam on Tx 20 the eft en-
company, after the payment of its indebtedness
article fourth is amended so as to read as fol-.
ARTICLE ".
The Board of Directors of this company, or and
aiter the hrst day of May next 1872, shall corser
OF twenty-four members, six of whom shall con.
stltute quorum.
Article seventh is amended 30 as to read ga fol.
lows, TO wit "
ARTICLE VII
After the words "ther office therein, ips4r.,
The Board Of Directors shall also have power ~
invest the amount Of its reserve on premiums
earned IN such places and States where the con-
pAhy snail nave established agencies and branch
boards OF Directors. in loans on unncumbered ana
improved real estate or invest the same in bonds
qulred. o 'eoh DC
Artcle ninth OF the original charter, and amend
nent thereof made on the eighth of July. I5T0 10
stricken out and the following substituted in liz
lieu and place: Al Az
ARTICLE TX.
In the month of December, in each rear 49,,
PRESIDENT and directors of the cOmpanv shaII
nake. Ut cause TO be made by the proper ofscers
a,ra ae 81 @ an annual statement of the az
ei'neu Dy anidavits and filed with the paDers ~
IA ne company for examination and information Of
ented to the regular board meetin" in Ia~np pr
90 an actuary calculation Of the net reserve re-
mer,c. "a p1lcies in force, determined by tho
~. snan also be presented to the regular board
uueesing 10 January OF each year and lit shall me-
4 tha u .ne board to set apart from the assets
Flrst-A sufficient amount to cover the net re-
srVe required BY INSURANCE law ACCORDING 10
'er cent interest anu s11-
oecond-A sufficient amount to pay the interest
tne preferred stock set forth in article third
ihfd-A sufficient amount to pay an Interest
y I'VE per cent per annum all the original fall
aiu STOCK OF the company, interest to commence
Ioi5 lhe hrat OF January, 1875, and to be ca!cu-
ated yearly from January TO January and to be
ayabie on the first Monday in February Of each
ear and If it shall appear after the net reserve
as been set apart, and the interest herein ia ned
as been provided for, that the profits OF the com
any 90 exceed its losses by more than ten per
ent OF its capital stock, then, at said January
oard meetings. the president and dir ectOrs shail
eclare such dividend to be paid on premiums on
lutua, policies of three more years standing
nd credits to be entered pre- ferred stock notss
dividends paid On full paid preferred stock ar
et iOlth in article third they NAV deem a.
isabe; but II it shall appear that the prof+s So
OF exceed losses bv more than the said ten nsr
emit no dividends shall be declared WA feA
Thus done and passed in my Office at the c;+r
New Orleans, State of Louisiana afore
he day, month and year first above written ~
presence OF &A6kR Louis NJ. Ducros and Az.
LEV, rev ~ i witnesses who sign
Original signed: 'N A'e no'@iS'
SAMUEL n. TODD.
L. NJ. DUCROS
A. MARMONGkT.
NJ. T. DUCROS,
Notary Public.
i m lNNA