The herald., 1915-10-14
CHARTER
OF COMMERCIAL LIFE AND ACCIDENT
INSURANCE COMPANY OF LOUISIANA

Parish OF Orleans Clty OF NC" Ci'od
BE 1t known, that this twentieth dd!
of the month Of August, in the year OF GU
Lord, One Thousand Nine Hundred and fIf
teen Q9l5l, before me, Charles Theodore Star
key, a Notary Public duly commissioned an,
Qualified. in and for this City and the Parlsi
of Orleans, therein residing, and IN the pres
ence Of the witnesses hereinafter named anI
undersigned personally came and appeared
the several persons whose names are heIe
lunto subscribed, all residents of the State o
| Louisiana and citizens OF the United states
who severally declared ,nat awaiting them
| selves OF the general laws OF the state o.
Louisiana in such cases made and provided
they have formed and organized, and by these
presents form themselves and such others az
may hereafter associate themselves win
them into and constitute corporation anC
purposes hereinafter set forth and expressed
which they adopt as their charter.
ARTICLE |.
| The name and title OF mis- corporation shall
be COMMERCIAL LIFE AND ACCIDENT
! INSURANCE COMPANY OF LOUISIANA
and IT shall exist for a period OF nlnety-nine
years from the date hereof; and 1t shall have
the power TO make and use corporate seal
| 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 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 at
fairs of this corporation, and which may not
be specifically enumerated in this charter.
ARTICLE II.
The domicile OF this corporation shall be in
| the City of New Orleans, louisiana, and all
citations or legal process shall be served
H.. ar,I IN he NJ ht
absence or inability to act, upon the vice
President or Secretary in the order named.
ARTICLE Ill
| The objects and PURPOSES for which this
corporation is established and the nature of
the business TO be carried on by it here
by declared: To conduct in the State of
| Louisiana, well 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
! of the General Assembly Of 1906 as amended
1908.
! The authorized Capital stock of this cor
poration is hereby fixed at Fifty Thousand
| C50,OO0OO) 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
| (S25,0OO) 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 stcokholder may sell, assign, or trans
Ter his stock in this corporation, provided
thirty days prior notice of such intention to
SELL assign 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 "
lhe 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;
not less than five shall constitute a quorum
and majority of these in attendance may
tIdlIodCl OuSlHCSS Inc DOarQ OF directors
shall have the power to amend, make and
abrogate all bylaws, rules and regulations
Tor the management of the affairs of this
corporation; to appoint employ and discharge
all officers, agents and employees fix ali
salaries and reInunerations, and generally to
do and perform all things necessary in the
transaction of the business and affairs of
this Company; provided that they may del
egate to the president or other persons Sc
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 20 time deem proper.
The officers of the Company shall be a
PRESIDENT, and one or more vice-Presidents,
a Secretary and Treasurer, who shall be
elected by the Board'of Directors
The first Board of Directors shall be Pat !
rick J. DOnegan, Edward ]. Ransom, Jack |
Panno, DR.. Robert J. Mainegra, Jr, Eugene
II. paste, Jno J. DAILY and DR.. William
Il. Weaver, who shall hold Office until
until their successors shall be duly elected |
and qualified, and the first officers shall be |
Patrick J. Donegan. a, President; Edward
:; HANSON, jack Panno, as Vice-Presidents;
Dr. Robert j. Manegra, Jr., as secretary, Eu- |
gene H. Daste as treasurer, and they shall con-
tinue IN office until t,.-fr successors have
been duly elected and qualified. On the
IN third Thursday of July 1920. and annually |
meeting of the stockholders called for that
purpose, an election for Directors shall be
neld az the office OF the Company, in the
City OF New Orleans, Louisiana, after ten
Gays written notice, mailed TO each Stock
holder at his last known address. and bv
publication for not less than ten DAVIS prior
to said meeting in a daily newspaper published
IN the City of New Orleans At said election
each Stakeholder shall be entitled to cast
either IN person or by duly authorized writ,
ten proxy, one vote for each share of stock
owned by him and standing in his name on
the books of the Company, and a majority of
those in attendance shall be sufficient to fiji
vacancies in the Board of Directors which
shall be filled for the unexpired term from
among the stockholders of the company.
ARTICLE VI
Ihls charter may be amended changed or
modified, or this corporation NAV he dis.
solved and its business terminated AT any
time by vote of three fourths of the stock
present or represented at general meeting
OF the Stockholders, convened for that nure
pose, after thirty days written notice mailed
to each stakeholder at his last known adj.
dress, and by publication in daily news
paper published in the City of New Orleans
tor not less than Thirty days prior to said
meeting. ~ 'a'u
ARTICLE VII.
AT the termination of this charter bv lim;
tation, or on the dissolution of the cornora. |
fion, as hereinabove stated, or otherwise m.
affairs or this Company shall be liouidated nv
three commissioners chosen by majority 81
me stock present or represented at a stock
holders meeting held for that purpose. after
Ten DAYS written notice rna;IaJ A.. |