The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-17

to be deposited therein such funds, however,
in no case to be entitled to the benefits other
wise reserved under the provisions herein
contained In favor OF the ordinary deposits
with the corporation. =, s,
SEC. 49, Be 1T further enacted, etc., Tint oil
sums deposited with the corporation shall be
repaid to the depositor under such regtil,~
tons as the board OF trustees Shall pre-
scribe.
SEC. 10. Be it further enacted eic., That IL
shall be the duty OF the board III NuHt6es w
publish, annually, under the affidavit NJ the
treasurer, in ct least two Of the pap9glg " TIC
ment OF the condition of the corporation,
which shall be laid before the General Az
sembly Of the State at the regular session OF
that body, and shall contain the amount on
amount invested IN the public debt u the
United States, and Of this State, nnd NJ the
city Of New Orleans; the amount ri the loans
upon pledge of each OF those securities; the
amount loaned uDon pledge OF bank stock,
enumerating the banks, the number OF each
and the amount loaned thereon; the amount
loaned on mortgage Of real estate; the names
Of the banks In which the unappropriated
funds are deposited, and oil other particulars
which may be requisite for the complete OK
SEC. Ia. Be IL further e,sacted, ETC., That the
corporation shall be capable, In law, OF re-
ceivng donations, requests and legacies,
whether Of money or Of real estate, and shall
property, SO donated, for the uses and pur-
poses for which the corporation is by this
act created, and shall not, under the pro-
visions in this act contained, be compelled to
dispose Of such as may consist OF real estate
within the term OF five years, as herenbefore
provided.
SEQ Is. Be ii further enacted, etc., That no
misnomer OF the corporation in any deed, gift,
grant or demise, Or other instrument OF con-
tract or conveyance or by testamentary dis
nngitinn GhnH yitiata nj Hpfnat the T-D-
| Uided that the corporation shall be sufficient
ly described to ascertain the intentions of the
parties.
SEC. 16. Be it further enacted, etc., That it
shall be the duty of the board OF trustees,
prior to the expiration of this charter, by eff
fluxion OF time, to apply to the Legislature
for an extension of the franchise; and in the
event OF such extension being granted and In
the event Of every future extension, which
may thereafter be granted, the contingent
fund which may have accumulated under the
ninth section Of this act together with any
donations which may have been made to the
corporation, shall be reserved for and enure
to the uses and purposes for which they were
originally imputed, and as though no fimita-
ton i'm respect to time had been imposed upon
the duration OF this charter; but Ii, on such
application to the Legislature for the time
being, they should think it inexpedient to ex-.
in the event of the dissolution of this corpora
ton from this or any other cause, all funds
from whatever source arising, which may ex-
list after the liquidation OF all liabilities Of the
corporation, shall be appropriated and dis
tributed for such charitable purposes as the
trustees may Designate; prouided such ap-
preparations be made within the State.
SEQ. II. Be 1t further enacted, ETC., That this
act shall take effect and be in force from the
passage thereof.
!. (Signed) LOUIS BUSH,
Speaker of the House of Representatives.
(Signed) LOUIS A. WILTZ,
Lieutenant Governor and President of the
Senate.
Approved March 16, 1873.
{Signed) FRANCIS 7. NICHOLS,
Governor OF the State Of Louisiana.
A true copy.
WILL A. STRONG,
Secretary Of State