The herald. [volume] (New Orleans, La.) 1905-1953, 1915-09-23
CHARTER
OF COMMERCIAL LIFE AND ACCIDENT
INSURANCE COMPANY OF LOUISIANA.

Lord, One thousand Nine hundred anu n
teen G9l5, before me, Charles Theodore Stal
key, a Notary Public, duly commissioned an
qualified, in and for this City and the Paris
OF Orleans, therein residing, and IN the pres
ence of the witnesses hereinafter named an
undersigned, personally came and appeared
the several persons whose names are here
lunto subscribed, all residents of the State G
Louisiana and citizens of the United State:
who severally declared mat, avaIling them
| selves of the general laws of the State
Louisiana in such cases made and provided
| they have formed and organized, and by thes
presents form themselves and such others a
may hereafter associate themselves wit
them into and constitrns a corporation an
body polite in law, for the said objects an
purposes hereinafter set forth and expressed
which they adopt as their charter.
ARTICLE |.
The name and title of mis- corporation shal
be COMMERCIAL LIFE AND ACCIDENl
INSURANCE COMPANY OF LOUISIANA
and 1t shall exist for period of ninety MIN
years from the date hereof; and IT shall havt
| the power to make and use corporate sea
and the same to break and alter at pleasure
and it shall have the power in its corporate
! name to sue and be sued; to purchase, own
hold, lease, accept by donation, or acquire II
any other manner authorized by law, real
personal or mixed property of every sort anC
description, to ALLEVIATE, sell, hypothecate
| mortgage, lease, or pledge any or all OF 1t:
| real, personal or mixed property, rights
| grants, franchises, TO borrow and loan money
! TO give and receive securities by mortgages
| pledged or in any other legal form, and gen
| orally to do and perform all things necessary
or incident to the proper conduct of the al
| fairs of this corporation, and which may not
! be specifically enumerated in this charter
| ARTICLE III.
The domicile OF this corporation shall be in
| the City OF New Orlean-, Louisiana, and all
| citations or legal process shall be served
| upon the President, and in the event OF his
| absence or inability TO act, upon the vice
| President, Secretary in the order named.
ARTICLE III.
The objects and PURPOSES for which this
corporation is established and the nature of
| the business to be carried on by IL are here
by declared: To conduct in the State OF
Louisiana, as well as in the other States
OF the United States, and in foreign coun-
tries, weekly, and periodical Industrial,
Burial, Sick and Accident Insurance Bust
ness for the benefit of the persons named,
payable in stated terms less than a month
apart, to insure against injury, disability
and death, resulting from Accident or Nat
ural causes, TO provide the services of a physi-
clan and Medicine and generally to do and
perform all things necessary or may relate
or appertain to the objects and purposes above
expressed and in conformity with Act No 6s
Of the General Assembly of 1906 as amended
by Act No. 2+6 OF the General Assembly OF
1908.
ARTICLE ".
The authorized Capital stock of this cor
poratlon is hereby fixed at Fifty Thousand
represented by Five Thousand 5000 Shares
OF the par value of Ten (SlO) Dollars with an
authorized Surplus of Twenty-Five Thousand
tS25,0OO) Dollars, which shall be fully paid
IN cash, and shall be worcestershire, and such
Capital stock shall be evidenced by certifi-
Gates which shall be transferable only on the
books OF the Company.
Subscriptions for Capital stock shall be
due and payable at the call of the Board of
Directors.
This corporation may commence business
as soon as Ten Thousand $4,000 Dollars of
its Capital stock has been subscribed to and
fully paid for.
Any stakeholder may sell, assign, or trans
fer his stock in this corporation, provided
thirty days prior notice of such intention to
SELL assign or transfer the same be given
the Company, and the other Stockholders
thereof shall have the privilege of purchasing
same; after which thirty days notice the
said stock may be sold in open market
The Board of Directors may at its option
declare forfeited all subscriptions to the
Capital stock of this corporation that have
not been fully paid for.
ARTICLE V.
The corporate powers of this corporation
shall be vested in and exercised by a Board
OF Directors of not less than seven nor more
than nineteen stockholders, elected from
among the Stockholders of this corporation:
not less than five shall constitute a Quorum
and majority of these in attendance may
transact business. The Board of Directors
shall have the power to amend, make and
abrogate all bylaws, rules and regulations
Tor the management of the affairs of this |
to appoint employ and discharge |
all officers, agents and employees, fix ali |
salaries and recommendations, and generally 70
DO and perform all things necessary in the |
transaction of the business and affairs of |
ms company; provided, that they NAV del |
gate 70 the president or other persons Sc |
ected by them, or to such executive, finance |
DR. other committee as they NAV require from
time to time to create and appoint from their
9wn number, such authority as they may
rom time to time deem PROPER
The officers of the Company shall be a
President, and one or more vice Presidents,
/ secretary and a Treasurer, who shall be
elected by the Board of Directors.
!. he first Board Of Directors shall be Pat,
,annO, DR.. Robert J: Mainegra, Jr, Eugene
|. paste, Jno. J. DAILY and Dr. William
Weaver, who shall hold office until
nt t beG nsgssdsy shalt H. July s 1920 ?,
md qualified, and the first officers shall be
'atTlck J. Donegan, a, President: Edward
/; hanson, Jack Panno, as Vice presidents;
.r, Robert 70 J. Mainegra, Jr., as secretary, Eu.
enc n. Daste as treasurer, and they shall con-
niue IN office until t.-rr successors have
zen duly elected and qualified. On the
hird Thursday of July 1920, and annually
hereafter, or as soon after as possible, at
,eetlns OF the stockholders called for that
urPose, an election for Directors shall be
ED at the office of the Company, in the
ity of New Orleans, Louisiana. after ten
avs written notice, maiIed 10 each Stock.
older at his last known address, and nv
ublication for not less than ten days nr;or
SAID meeting in daily newspaper published
the City of New Orleans. At said election
ach Stakeholder shall be entitled to cast.
lther IN person or by duly authorized writ
m proxy, one vote for each share of stock
"ned by him and standing in his name ON
ie BOOKS OF the Company, and a majority of
lose IN attendance shall be sufficient To fill |
acancies in the Board of Directors which
lali be filled for the unexpired term from
nong the stockholders of the comnanv
ARTICLE VI.
ms charter may be amended. changed n,
Gpaiied, or this corporation may be dis
lived and its business terminated at anv
me by vote of three fourths of the stock 9
esent or represented at a general meeting ,
the Stockholders, convened for that pur
Use, after thirty days written notice mailed
each stakeholder at his last known adj
ess, and by publication in daiIv news
per published in the City of New Orleans
not less than Thirty days prior to said
ARTICLE VII. :
Al the termination of this charter nv I;r,;
ton, or on the dissolution of the cornor.. ;
IN: as hereinabove stated, or otherwise. the
AIRS OF TINS Company shall be liquidated bv
rec commissioners chosen by a majority 81 5
E STOCK present or Represented at a stock.
IdeIs' meeting held for that purpose. after
Gays written notice mailed to each