The herald. [volume] (New Orleans, La.) 1905-1953, 1915-09-30
CHARTER
OF COMMERCIAL LIFE AND ACCIDENT
INSURANCE COMPANY OF LOUISIANA.


Of the month Of August, IN the year OF ou
Lord. One Thousand Nine Hundred and RI
teen Ogl5D, before me, Charles Iheodote o'd'
key, a Notary Public, duly commls sioned ahS
qualified in and for this City and the Pdrisi
of Orleans. therein residing, and in the pres
cuCe of the witnesses hereinafter named anC
undersigned personally came and appeared
the several persons whose names are mere
unto subscribed, all residents OF the State Of
Louisiana and citizens of the United States
who severally declared mat, awaiting them
selves OF the general laws OF the state OF
Louisiana in such cases made and provided
they have formed and organized, and by these
presents form themselves and such others as
NAV hereafter associate themselves with
them into and ConStItJnS a corporation anC
body polite in law, for the said objects and
purposes hereinafter set forth and expressed
ARTICLE l.
The name and title OF mis- corporation shall
be COMMERCIAL LIFE AND ACClDENl
INSURANCE COMPANY OF LOUISIANA
and it shall exist for a period Of ninety-nin
years from the date hereof; and II shall have
the power to make and use corporate seal
and the same to break and alter at pleasure
and il shall have the power In ITS corporate
name to sue and be sued; to purchase, own
hold, lease, accept by donation, or acquire IN
any other manner authorized by law, real
personal or mixed property OF every sort and
description, to ALLEVIATE, sell, hypothecate
mortgage, lease, or pledge any or all OF ITS
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 Orleans, Louisiana, and all
citations OF legal process shall be served
H.. L.. IL Of n
absence or inability to act, upon the vice
President, or Secretary in the order named.
ARTICLE III.
The objects and purI-'-cs for which this
corporation Is established and the nature OF
the business to he carried on by It are here
by declared: To conduct in the State OF
Louisiana. well as in the other States
OF the United States, and in foreign cOun-
tries, weekly, and periodical Industrial,
Burial, Sick and Accident Insurance Busl-
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. O.
Of the General Assembly OF 1906 as amended
1908 10 nv w. ~ u '''' s''@' '1''e'''O'' u
ARTICLE ".
The authorized Capital stock of this cor
poration is hereby fixed at Fifty Thousand
S'O"00O Dollars to be divided into and
represented by Five Thousand 5000 Shares
of the par value OF Ten $50 Dollars, with an
authorized Surplus OF Twenty-Five Thousand
(S25OO 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 the
books OF the Company.
Subscriptions for Capital stock shall be
due and payable at the call of the Board Of
Directors.
as as Ten Thousand $4,000 Dollars of
its Capital stock has been subscribed to and
fully paid for.
Any stcokhoder 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 20 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 Board
of Directors Of not less than seven nor more
than nineteen stockholders, elected from
among the Stockholders of this corporation;
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
for the management of the affairs of this
corporation; to appoint employ and discharge
all officers, agents and employees, fix ali
salaries and remunerations, and generally to
do and perform all things necessary in the
transaction of the business and affairs of
this Company; provided that they NAV del
fp9tP nrRc Harf 9TH
lected by them, or TO such executive, finance
or other committee as they may require from
time to time to create and appoint from their
own number, such authority as they may
from time to time deem proper.
The officers of the Company shall be
President, and one or more vice Presidents
a Secretary and a Treasurer, who shall be
elected by the Board of Directors.
The first Board Of Directors shall be Pat
Panno, DR.. Robert J. Nainegra. Jr, Eugene
Il. Daste, Jno. J. DAILY and DR.. William
II. Weaver, who shall hold office until
the Third Thursday of July, 1920, or
and qualified, and the first officers shall be
Patrick J. Donegan, as President; Edward
!. HANSON, Jack Panno, as Nice-Presidents;
DR.. Robert J. Mainegra, Jr., as secretary, Eu-
gene H. Daste as treasurer, and they shall con-
been duly elected and qualified On the
third Thursday of July 1920, and annually
thereafter, or soon after as possible, at a
meeting of the stockholders called for that
purpose, an election for Directors shall be
held at the office of the Company, in the
.ity of New Orleans, Louisiana, after ten
lays written notice, malled TO each Stock
holder at his last known address, and by
publication for not less than ten DAYS prior
% said meeting in daily newspaper published
n the City of New Orleans. At said election
Zach Stakeholder shall be entitled to cast.
either IN person or by duly authorized writ.
en proxy, one vote for each share of stock
,wned by him and standing in his name on
he books of the Company, and a majority of
hose in attendance shall be sufficient TO fill
Iacancies in the Board of Directors which
shall be filled for the unexpired term from
among the stockholders of the company.
ARTICLE VI.
This charter may be amended CHANGED or
modified, or this corporation NAV be dis
solved and its business terminated at anv
line by vote of three .fourths of the stock
present or represented at a general meeting
II the Stockholders, convened for that pur.
'ose, alter thirty days written notice mailed
o each stakeholder at his last known ad-
iress, and by publication in daily news
'aper published in the City of New Orleans
or not less than Thirty days prior to said
Meeting.
ARTICLE VII.
AT the termination of this charter by iimi.
alton, or on the dissolution of the corpora-
ION, as hereinabove stated, or otherwise, the
,italrs OF this Company shall be liquidated by
hree commissioners chosen by a majority Of
ne stock present or represented at a stock
loIdeTs meeting held for that purpose, after