The herald. [volume] (New Orleans, La.) 1905-1953, 1915-09-09
CHARTER

OF COMMERCIAL LIFE AND ACCIDENT
| INSURANCE COMPANY OF LOUISIANA"
| United States of America, State of Louisiana
| Parish of Orleans, City of New Orleans
Be 1t known, that on this twentieth day
/ OF the month of August, in the year Of our
| Lord, One Thousand Nine Hundred and Fiji
| teen Q9lS, before me, Charles Theodore Star
! key, Notary Public, duly commissioned and
qualified, in and for this City and the Parish
| OF Orleans, therein residing, and in the pres
ence OF the witnesses hereinafter named and
| undersigned, personally came and appeared,
| the several persons whose names here
| 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
may hereafter associate themselves with
them into and constitln. a corporation and
body polite in law, for the said objects and
| purposes hereinafter set forth and expressed
which they adopt as their charter.
ARTICLE l.
The name and title OF tnis corporation shall
! be COMMERCIAL LIFE AND ACCIDENT
| INSURANCE COMPANY OF LOUISIANA,
and it shall exist for period of ninety mine
years from the date hereof and it shall have
| the power to make and use a corporate seal
and the same to break and alter at pleasure;
and 1t shall have the power in its corporate
name to 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, 10 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 gem
orally to do and perform all things necessary
| or incident to the proper conduct of the af-
fairs OF this corporation, and which may not
/ ARTICLE IL
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
I absence or inability to act, upon the vice
President, or 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 it 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, a weekly, and periodical Industrial
Burial Sick and Accident Insurance Bust
| ness for the benefit of the persons named
payable in stated terms less than 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 6
| by Act No. 2+6 of the General Assembly of
| 1908.
ARTICLE w.
The authorized Capital stock of this cor
poration is hereby fixed at Fifty Thousand
| SS0,0000O) Dollars to be divided into and
represented by Five Thousand 5000 Shares
| of the par value of Ten (Sl0) Dollars, with an
authorized Surplus of Twenty-Five Thousand
| (s2S,OOO) 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
| fer his stock in this corporation, provided
| thirty days prior notice Of such intention to
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
4
than nineteen stockholders. elected from
among the Stockholders of this corporation
| not less than five shall constitute a quorum
and a 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 all
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 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 to 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 ]. Mainegra, Jr.. Eugene
H. Daste, Jno. ]. DAILY and DR.. William