New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-01-21
CORPORATIONS.
{ RTER.'....................CHARTER.
STATE OF LOUISIANA, CITY OF NEW ORLEANS.

| THARTER..... CHARTER.
STATE OF LOUISIANA, CITY OF NEW ORLEANS
Be it known that on this thirteth day of De-
| cember in the year one Thousand eight hundred
! and seventy four, before me. Marcel r.. Ducros a
notary public in and for the city parish of New
missioned and sworn. personally came and APP
peared Samuel Manning Todd president Of and
LIFE INSURANCE. COMPANY corporation duly Or
gained under the laws of this State per act passed
n sis me- notary, On the twentyhfth OF March,
| 1863, who declared that, pursuant to the above
mentioned 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 vetinS upon
certain amendments proposed TO said act Of incor
wit: The first, on Wednesday. the third day Of
January, 1872 after thirty days notice in the Eng
lish and French languages, published in the New
| Orleans Daily Times and the New Orleans Daily
Bee the second OF Tuesday, the sixteenth day of
SStp1eimosr 49, after thirty days, notice in the
New Orleans Daily Picay une 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 Picsyune and New orleans
daily in the city of New Orleans
And that at each Of said meetings. stoc kholders
| ent and represented have voted for the adoption
OF the amendments proposed to said act OF Incor.
pOratlOn, 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
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 effect the said amendments, and of causing
the same to be recorded he does hereby publicly
declare and proclaim the changes. additions al
teratlons and notifications mace TO the charter
of the Louisiana Equitable Life Insurance Com
pany to be as follows to wit:
Article three is amended so as to read as FOL-
lows, to wit:
ARTICLE III.
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.
directors, from time to time, az necessity may re-
qu:re; provided, no call shall exceed tive dollars
per share-thirty days published notice of which
shall beEiven; provided also, that calls shall not
be made Oftener that once in ninety days. This
amount thereon paid in cash and ali future divi.
dends as hereinafter named, to be credited said
stock notes shall be entitled to eight per cent per
ments, or dividend credits, which interest shall
be calculated to the first day OF January in each
commencing in February, 1876. ALI said preferred
stock snail be entitled to participate in the profits
age as dividends declared premiums on ordi
nary life mutual policies of three years standing
on the stock notes held by the company so long as
said stock notes. or any part thereof remains I'm
dends in cash. The preferred stock. to the extent
paid, shall be first claim on the assets OF the
indebtedness,
Article fourth is amended to read as fol-
lows, to wit:
ARTICLE ".
The Board of Directors of this company, on and
after the first day of May next, 1872 shall consist
stitute a quorum.
article seventh is amended so as to read as fo..
lows, 20 wit:
ARTICLE VII.
The Board of Directors shall also have power to
invest the amount OF its reserve on premiums
earned III such places and States where the com
pahy shall have established agencies and branch
Boards OF Directors i'll loans OH unin Numbered and
improved real estate, or invest the same in bonds
and stocks created by under the laws of the
states "he re such premiums shall have been &C.
Article ninth of the original charter and amend.
meht thereof made on the eighth of july 1910 Is
stricken out and the following substituted in it's
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 Che company, an annual statement of the af
1alrs OF the company, which statement shall be
the company for examination and information of
an parties Interested; first statement to be pre-
serted to the regular board meeting in January
1876 an actuary calculation of the reserve re-.
CURED on policies in force, determined by the
est shall also be presented to the regular hoard
meeting III Janu airy of each year, and iu shall 0e
he 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 A:cerlcan expernce table of mortality and six
per cent interest. ~ ~
Second-A sufficient amount to nav the nterest
on tne preferred stock set forth in article third
hlrd-A sufiict MT amount to pay an interest
OF I'VE per cent per annum on all the original full
paid stock of the company, interest," to commences
froin the first of January, 1875 and to he calcu-
iattu yearly from January January and tn h.
payable on the first Monday in February of each
ear and II IL shall appear after tho net reserve
has been set apart, and the interest herein named
mas been provided tor, that the profits of the com
pany DO exceed it's losses by more than ten per
cent or ITS capital stock, then, at said January
noaru meetings the president and dir ectors shall
ueciare such dividend to be paid on premiums on
mutual policies of three more wears standing
ana credits TO De entered on preferred stock notes
OF DIVIDENDS paid on full paid preferred stock as
ses IGlth IN article third, as they may deem ad-
not exceed losses Dv mere than the said ten mar
cent, no dividends shall be declared
nus zone and passed in my office at the CITY
p a rev Orleans, State of Louisiana aforesaid on
10 presence of Messrs Louis NJ. Ducros and An
lre" Marm0nget, competent witnesses who sim
'l r names with said appearer and me, notary
Original signed:
SAMUEL NJ. TODD
L. NJ DUCROS
A. MARMONGET
NJ. r. DUCROS,
Notary Public
! certify the foregoing to be true copy of the
'riSiila act extant in my current register
Ne" Orleans, December 80, 1874.
NJ. I. DCCROS, Notary Public
|, the undersigned deputy recorder of ,ror+
ages iof the parish of Orleans do hereby cartifv
nat the foregoing act was this day duly recorded
d my ONCE III book No. 49, folio $50 and SEQ.
ne" orleans, December 81 1874.
JAG 10 20 q fes w. bn snnta paan.