New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-01-30
CORPORATIONS.
CHARTER........... ...........CHARTER
STATE OF LOUISIANA, CITY OF NEW ORLEANS

CoEnDeT. IN the year one Thousand elgn6 nuuOI6O
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
missione si and sworn, personally came and sp,
herein acting tsr 5hs LouisiASA EoUlTABIE
ganzed under the laws Of this State per act passed
before me, notary, on the twenty fifth 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
certain amendments roposed 10 said act Of incor.
poration said meetings being held a. follows. to
Tas on ,hG sd b aa
lish and French languages published in the New
Orleans Daily Times and the New Orleans Daily
September, 1873 after thirty days notice. in tho
English and French languages: published in the
Daily Bee, and the third Monday. the fourteenth
OF December, 1874 after thirty days notice, in tho
En- lish aud French LANGUAGES. published in the
Daily Bee-all said newspapers being published
daily in the city of New Orleans.
And that. at each of said meetings, Stockholders
holding and wning the whole of the stock pies
emit and represented have voted for the adoption
poration as the whole will more fully appear by
reference to q 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
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
teratiOns aud notifications maue to the charter
of the Louisiana Equitable Life Insurance Com
pany to be follows, to witt
Article third is amended so a. to read a. fol-
lows, to wit:
ARTICLE ILL.,
after the words "oflical papers insert) The
stock of the company increased four thou
sand 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
time nm 70 a. y
per share-thirty days published notice Of which
shall be given; provided, also, that calls shall not
be made oftener that once in ninety days. This
increased stock shall be- preferred Stock the
amount thereon paid in cash. aud all future divi-
stock notes. shall be entitled to eight per cent per
annuM interest from the respective oates OF pay
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 profits
age as dividends declared on premiums on ordi
and such profits shall be credited, when declared,
on the stock notes held by the company, so long
dends in cash. The preferred stock, to the extent
paid, shall be q first claim on the assets Of thu
company, after the payment OF its indebtedness.
Article fourth is amended 80 a. to read al 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-
Article seventh is amended so as to read a. fol-
lows to wit:
ARTICLE VII.
(After the words their Office therein ipsertl
The Board of Directors shall also have power to
invest the amount Of its reserve on ptemiums
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 bOnais
States where such premiums shall have been a{
qulred.
ment thereof made on the eighth OF July, 1870, 10
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 shdlI
make. or cause to be made by the proper oficeEs
of the company an annual stat ement of the ~
fairs of the company, which statement shall Be
verified by affidavts and filed with the papers bf
the company for examination and information of
all parties interested; frat statement to be pie
senfed to the regular board meeting in JANUARY,
1876; an actuary calcu alton of the net 1e
ouired ON policies in force, determined by the
American taDle of morality and six per cent inter
est shall also be presented to the regular board
meeting In January Of each year, and it snail
the duty of the board to set apart from the assets
Of the company
First-A sufficient amount to cover the net re-
serve required by insurance law. according to
per cent interest.
Second-A sufficient amount to pay the interest
on the preferred stock set forth in article third
rh1d-A sufilci. Ut amount to pay interest
OF i've per cent per annum all the Orlgina al full
paid stock Of the company, interest to com menco
from the hrst OF January, 1875, and to be caleu-
on tho s 10 in tSs
year and if it shall appear after the net reserve
has been set apart, and the interest herein named
has been provided Tor, that the profits OF the oc-
pany do exceed its losses by more than ten her
cent of its capital stock then, at said January