New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-01-19
CORPORATIONS,
IHARTER.......".. CHARTER.
STATE OF LOUISIANA, CITY OF NEW ORLEANS.

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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
and seventy-four, before me. Marcel T. Ducros
notary public in and for the city parish of New
Orleans, State of Louisiana, Aforesaid duly com
mlssloned and sworn, personally came and an.
herein acting fer the LOUISIANA FoUITAB sIS
LIFE INSURANCE COMPANY, q corporation duly or
gsnzed under the laws Of this State per act passed
before me, notary, on the twentyffth of March
1868 who declared that, pursuant to the above
mentioned act Of Incorporation, three several gen.
eral meetings Of the stockholders Of said company
were convened and held at the office of said com
pany in this city for the purpose Of voting upon
porationi said meetings being held as follows, to
wit: The first on Wednesday, the third dav of
January, 1872, after thirty days notice in the Bng
Orleans Daily Times and the New Orleans Daily
Bee the second op Tuesday, the sixteenth day Of
September, 1873, after thirty days notice. in the
English and French languages, published in the
New Orleans Daily PicayuDe and the New Orleans
of December 1874 after thirty dsys' notice in the
English and French languages, published in the
New Orleans Daily Picayune and New Orleans
daily in the city of New Orleans
And that, at each of said meetings, stockholders
emit and represented have voted for the adoption
of the amendments proposed to said act of incOr.
poration, as the whole will more fully appear by
reference TO 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
declare and proclaim the changes, additions, al
terations and notifications made to the charter
pany to be as follows, to wit:
Article three is amended so as to read as fol.
lows to wit
ARTICLE Ill
The stock Of the company is Increased four
Thousand shares, Of fifty dollars each. Subscribers
shall pay ten per cent Of the amount subscribed at
the time of subscription, and for the remainder of
said subscription shall give their stock notes.
Calls on said stock notes may be made by the
quirei provided, no call shall exceed FIVE dollars
per share-thirty days published notice of which
be made oftener that once in ninety days This
increased stock shall be preferred stock; the
amount thereon paid in cash, and all future divi.
dends as hereinafter named to be credited on said
stock notes. shall be entitled to eight per cent per
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,
commencing in February, 1876. All said preferred
stock snail Be entitled to participate in the pTots
Of the company to the extent OF the same percent.
age as dividends declared on premiums on Ordi-
nary llfe mutual policies of three years standing,
and such profits shall be credited, when declared,
on the stock notes held by the company so long as
paid. Full paid preferred stock shall receive div.
bends in cash. The preferred stock to the extent
PAID, shall be hrst claim on the assets of the
company, after the payment of its Indebtedness.
Article fourth lie amended so as TO read as fol-
lows, to wit;
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 s amended so as to read as fol.
ARTICLE VII.
The Board of Directors shall also have power to
invest the Of ffa On nra mir
earned in such places and States where the com
pany shall have established agencies and branch
Boards OF Directors, in loans on unincumbered and
improved real estate, or invest the same in bonds
and stocks created by or under the laws of the
states where such premiums shall have been &C.
Article ninth of the original charter, and amend
ment thereof made on the eighth Of July, 1870 is
stricken out and the following substituted in its
ARTICLE TX.
In the month of December. in each year the
president and directors of the company shall
make, or cause to be made by the proper officers
OF the company, an annual abatement Of the af
falre OF the company, which statement shall be
verified by afiidaSits and filed with the papers Of
the company for examination and information of
al parties Interested first statement to be pre-
scented to the regular board meeting sn January
1876 an aetuary calculation Of the net reserTe re-
qutred on policies in force, determined by the
est shall also be presented to the regular board
meeting in January Of each year snd IL shall be
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. according to
the American experince table Of mortality and six
per cent interest
second-A sufficient amount TO pay the interest
on the preferred stock ~ set forth In article third
Thifd-A suhioitnt amount 70 pay an interest
OF nve per cent per annum all the original full
PAID stock OF the company, interest TO commence
from the first Of January, 1873, and to be Oalcu-
lated yearly from January 70 January, and 10 be
payable on the first Monday In February Of each
year, and II IL shall appear after the net reserve
has been set apart, and the interest herein named
has been provided for that the profits OF the COM
pany DO exceed its Losses by more than ten Der
cent Of ita capital stock, then, at aaid January
board meetings, the president and directors shal
declare such dividend 70 be paid on premiums on
mutual policies Of thFee or more years standing,
and credits 10 be entered on referred stock notes
or dividends paid on full paid preferred stock as
got forth In article third, az they may deem ad.
Visable; but II Il shall appear that the profits do
not exceed losses bV more than the said ten per
cent, ne dividends shah be declared
Thus done and passed In my office, at the city
Of New Orleans, State Of Louisiana Aforesaid, on
the day, month and year hrst above written, and
In presence OF MessFaL Louia n. Ducroe and An
drew harm0nget, competent Witnesses who Aign
their namea with said appeareE and me, notary.
SAMUEL NJ TODD
L. n. DUOROs,
a. MARMONGET,
b. 7. DuCR0s,