New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-01-24
CORPORATIONS.
QUARTER. ...:.....,............CH 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
and seventy-four, before me, Marcel T. Ducros, a
notary public in and for the city parish of New
Orleans, State Of Louisiana, aforesaid, duly com
missioned and sworn, personally came and ap.
peaTed Samuel Manning Todd, president of and
herein acting fer the LOUISIANA EQUITABLE
LIFE INSURANCE COMPANY, a corporation duly or.
ganized under the laws of this State per act passed
before me notary, on the twenty-tfth of March,
1863 who declared that, pursuant to the above
mentioned act OF Incorporation, three several gen
eTal meetings of the stockholders of said company
were convened and held at the office of said
pany in this city for the purpose Of voting upon
certain amendments proposed to said act of iucOr
pOTatiOp; said meetings being held as follows, to
wit: The first, on Wednesday, the third day of
January, 1872, after thirty days notice in the Eng
hsh 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 Picayu and the New Orleans
Daily Bee, and the third on Monday, the fourteenth
OF December 1874, after thirty days notice in the
English and French languages, published in the
New Orleans Daily Picayune and New orleans
Daily Bee-sll said newspapers being published
! daily il the city of New Orleans.
And that, at each of said meetings stockholders
| holding and owning the whole of the stock pres
| ent and Represented have voted for the adoption
of the amendments proposed TO said act of moor
! 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
| the same to be recorded, he dOes hereby publicly
dec are and proclaim the changes, additions, al
| terations and notifications MADE to the charter
| of the Louisiana Equitable Life Insurance Com
| pany to be as follows, to wit:
Article third is amended so as to read as fol-
ARTICLE III.
tAfter the words official papers" insert The
stock of the company Is 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
directors, from time to time, as necessity may re-
| uuire; provided no call shall exceed five dollars
| per shaTe-thiTty days published notice of which
shall be given; provided also, that calls shall not
| be made 6ftener that once in ninety days. This
increased stock shall be preferred stock; the
amount thereon paid in cash, aud all future din;
dends hereinafter named, to be credited on said
stock notes shall be entitled to eight per cent pei
anhum interest from the respective dates OF pay
meuts, or dividend credits which interest shat
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
of the company 10 the extent OF the same percent
age as dividends declared on premiums on ord
nary life mutual policies OF three years standing
| and such profits shall be credited, when declared
on the stock notes held by the company so long al
said stock notes or any part thereof remains IN
paid. Full paid preferred stock shall receive div
bends in cash. The preferred stock, 70 the extet1
paid, shall be a first claim on the assets OF th'
company after the payment OF its Indebtedness.
Article fourth is amended so as 10 read as fol
| lows, 20 wit:
The Board of Directors of this company, on ant
after the frst day Of May next, 1872, shall cOnss
Of twentnfour members, six OF whom shall con
Article seventh lie amended SO as to read as fol
lows, TO wit: .--,
(After the words their office therein" insert
The Board of Directors shall also hare power
invest the amount of its reserve on premium
earned in such places and States where the com
, pauy shall have established agencies and branc
Boards of Directors, in loans on unincumbered an
improved real estate, or invest the same In BOND
and stocks created by or under the laws OF III
States where such premiums SHAH nave oeeh &c
article ninth of the original charter, and amenC
| meut thereof made on che eighth Of July, 1870,
D stricken out and hefollOwing substituted IN II
| lieu and place; -
In the month of December, in each year, IL
preeideut aud directors of the company sha
0 make, or cause to be made by the proper ONCE
| of the company, annual statement of the a
| fairs of the company, which statement shall
verified by atidavits and filed with the papers
the company for examination and information
an parties Interested; first statement to be pr
sented TO the regular board meeting IN Jannar
q 1876 an actuary caleu alton of the net reserve
ouired on policies in force, determined by II
American table of morality and six per cent int
n est shall also be presented TO the regular o9al
meeting in January OF each year, and IL shah
the duty of the board TO set apart from the asset
OF the company
. serve required by insurance law according
the American experience table OF mortality ana S
per cent interest.
M SecOnd-A sufficient amount 70 pay the lntere
the preferred stock as set forth in article thli
Thud-A sufficient amount 10 pay an lntere
| OF ave per cent per annum on all the original II
| maid stock Of the company, interest to commen
| from the first of January 1873, and 10 be eac
| lated yearly from January 10 January and 10
payable the first Monday in February OF ea'
| year, and If it shall appear after the net reser
~, has been set apart, and the interest herein nam
W has been provided for that the profits OF the COZ
90 cent OF it's capital stock, then, at said JaHua
90 board meetings, the president and directors shi
90 declare such dividend to be paid on premiums
90 mutual policies Of three OF more years standin
90 and credits TO be entered pre- erred stock moi
90 or dividends paid full paid preferred stock
90 set forth IN article third, as they may deem 8
90 visable: but II il shall appear that the pronts
= not exceed losses BY more than the said ten
90 cent, no dividends shall be declared
Thus done and passed in my ONCE at the CT
of New Orleans, State OF Louisiana afoTesa
l6 the day, month and year first above written
az | in presence of Messrs. Louis NJ Dueros and
~ drew MarmOnget competent witnesses, who 81
m their names with said appearer and me, notary,
y SAMUEL NJ. TODD,
&C i. NJ. DUCROS,
- A. NARMONGET,
M NJ. T. DUCROS,
W Notary PubliS
" certify the foregoing TO be true copy Of !
m | original act e1tant In my current register.
New Orleans, December 30, 1874
"a n. 7. DUCROS, Rotary Pubhl