The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1912-05-10

corporation and in force on said dat,
shall remain and continue in force
thereafter on like terms and condi
tons, and this corporation shall
thereafter continue in business OF
the basis herein provided.
This corporation shall transact thu
business stipulated and defined il
Article III of this charter on the "OIc
Line, or legal reserve, basis, anG
shall not insure and agree to pay
benefits in event of the death of the
insured or the maturity of the policy
for more than $500 on one life, mol
for more than $40 per week to one
person on account of disability re
suitlng from sickness or accident
n h premiums, which shall be
stipulated, or fixed, premiums, shall
De collectable in periods of less than
month apart. In determining
the reserve required on account OF
and in accordance with the policies
OF Industrial Life Insurance in force
in this company at any time, the
New York Standard Industrial Elk.
perlence Tables of Mortality, with
3h per cent interest, shall be EN-.
ployed, except as shall be modified
by any other standard which may be
adopted by the State of Louisiana.
ARTICLE V.
All OF the powers of this corpora.
ton shall be vested in and Exercised
by a Board of Directors, composed of
not fewer than Seven CO o more
than Eleven (11) citizens of the State
of Louisiana, to be elected annually
on the 18th day of September, or if
same shall be a holiday, on the next
business day preceding, four of whom
shall constitute a quorum for the
transaction of business, and a major
lty Of those present shall control.
All elections shall be made by bal
lot and shall be held and conducted
at the Office of the corporation, under
such rules and regulations as may be
established by the Board Of Direct
ors. Notice thereof shall be given
by the Secretary of the corporation
by publication On Saturday of each
week for six weeks prior thereto in
a newspaper published in the English
language in the City of New Orleans,
State of Louisiana.
At all elections and all corporate
meetings every policy holder, or
member, Of the corporation, whose
policy is not lapsed on the date
thereof shall be entitled to one vote,
to be cast in person, or by proxy
written Dr. printed and signed by the
member. A majority of tn, votes
cast shall elect. Any vacancy occur
ring among the Directors of this cor
poration by death, resignation or
otherwise, shall be filed by election,
Tor the unexpired term, by the re
naming Directors. Failure to elect
naming directors. Failure to elect di-
rectOrs on date above specified shall
not dissolve this corporation nor i'm
pair its existence or management, but
the Directors then in Office shall re-
main in office until their successors
have been duly elected and qualified.
The Board of Directors may. from
time to time, name and appoint such
officers, agents and employees rs it
may deem necessary for the purpose
of conducting the business of this
corporation. 1t shall have authority
to fix and define the power, duties
and salaries thereof, and each off,
Ger, agent and employee, shall hold
office or employment at the pleasure
of said Board. 1t shall elect from
amongst it's own members, or from
the policyholders of the corporation
not members Of the Board, a Presi-
dent, not exceeding three 60 Vice
a Secretary and Treas
urer.
The Board of Directors may make
or establish, al we'll as alter and
amend, all bylaws, rules and regula- |
deemed proper for the conduct
and management Of the business and
affairs of this corporation; it shall
have the power to borrow and lend
money; to acquire real estate for the
purposes of its business; to buy and
sell all species of real and per-
sonal property. on which the corpora
ton may have q mortgage or lien. or
which may owe it money, and. in the
case OF real estate, to hold same for
such time as may be necessary to
properly and advantageously dispose
hereof, and generally to do any and
Ill things reasonable, convenient and
necessary for the proper carrying out
If the business and affairs of this
The present Board of Directors and
,flcers shall hold Office until the 18th
lay of September 1912, or until their
shall have been duly elec- |
ed and qualified.
ARTICLE vi.
Whenever this corporation may be