The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-12
CHARTER.

OTATE OF LOUISIANA, PARISH OF OF
y leans, city of New Orleans-Be it known, thai
on this eighth day Of May in the year one Thousand
eight hundred and seventy.fve, before me- JOhI
Bendernagel notary public in and for the parish o.
Orleans, State aforesaid duly commissioned anc
qualified and in the presence Of the witnesses here
matter named and undersigned -,
Personally came and appeared Joseph smith
Pierre Coutolon Michael j. POns, Pierre Canterou
John Riehm, Domingo Negrotto Jr., David Leu6Ile
Paul Rousset Charles b. Mil, Lawrence Merz, val
Wy Salisbury Andrew H. Pons Charles D. Nil, act
ing as attorney in fact of Auguste vltter, as pei
letter of attorney dated sixth May 1875, hereunto
Who severally declared that avaing themselves Of
the rights and privileges conferred by the laws OF
this State relative to the organization Oh corpora
presents do form themselves into and constitute a
Corporation for the objects and purposes and under
the stipulations, regulations and obligations follow
'Ds' '''"''' ARTICLE FIRST.
The name and title of said corporation shall be the
LOUISIANA BENEVOLENT LIVE STOCK IN
SURANCE COMPANY OF NEW ORLEANS "
and its domcile shall be in the city OF New Orleans
twenty five years from the date Of this char and
shall have power and authority to contract sue and
be sued in its corporate name AN citations notices
or other legal process wherein the said company may
be interested shall be served upon the President OF
said com, any. The zeal of said corporation shall
have for its device the picture Of horse with the
be the words, Louisiana Benevolent Live Stock In
surance Company of New Orleans La"
ARTICLE SECOND.
The objects and purposes for which said corpora
ton is established and the nature of the business to
be carried On are hereby declared to be:
First-To 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 loss Of said live STOCK either Dy accident
in the event of death.
Thirdly-To secure better care and attention to
working stock. ,
live stock insured in the company
ARTICLE THIRD.
The Capital Stock of said Company is hereby fixed
at Twenty five Thousand Dollars, divided into
twenty five hundred shares Of Ten Dollars each
with the privilege of increasing said capital stock to
Fifty Thousand Dollars The Company is hereby
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 me 81 1ae eaR1a r
the balance each subscriber shall furnish his prOmis.
sorry note payable the rst day of May, 1876 said
note shall Be subject to ca a at any ae
sary. No stakeholder shall in any event be made
liable for larger amount than the unpaid balance
Of his her or their suescrp4Sn 70 Inc caPa siScK
in cash, in which event interest as
hereinafter snail dtUdcn 10 SUCH
tons from the date that such full payments shall
have been made. II transfers Of stock shall be
made on the books Of the Company at its Office 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
Of any stockholder to comply with the calls made
upon him. the stock owned by such holder, with
a he accumalations thereon shall be liable to for.
fixture to the Company by vote of the Board of
Directors to that effect provided that 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 on the amount
paid in shall be payable annually on the first Monday
In May of each year. commencing with the year 1e76
the profit remaining to the company shall be appro
priated as follows: Ten per cent shall 60 toward
the creation of Reserve Fund, p" a stock dividend
Of ten per cent shall be payable to the stockholders
On the paid up stock and the balance shall be d.
vded pro rata amongst the policy holders of the COM
pany All interests received profits realized on
loans and Investments shall also be placed in the
/" Reserve Fund" No payments of losses shall be
made out of the Reserve Fund" unless all other
funds of the company excepting the capital stock
shall have been exhausted.