The herald., 1915-10-07
CHARTER
OF COMMERCIAL LIFE AND ACCIDENT
INSURANCE COMPANY OF LOUISIANA
United States of America, State Of Louisiana

teen Q9l0, before me, Charles Theodore Star
key, a Notary Public, duly commissioned ans
qualified, IN and for this City and the farisi
! of Orleans, therein residing, and IN the pres
ence of the witnesses hereinafter named anC
| undersigned, personally came and appeared
the several persons whose names are mere
Iunto subscribed, all residents OF the State o.
| Louisiana and citizens of the United States
who severally declared mat, awaiting them
selves of the general laws OF the State OF
Louisiana i'll 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 constItlnS 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 ,nis corporation shall
! he COMMERCIAL LIFE AND ACClDENi
| INSURANCE COMPANY OF LOUISIANA
! and II shall exist for a period Of ninety nine
wears from the date hereof; and IT shall have
! the power to make and a corporate seal
| and the same TO break and alter at pleasure
! and 1t shall have the power IN ITS corporate
! name to sue and be sued; to purchase, own,
| hold lease accept by donation, 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 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 sf-
| fairs of this corporation, and which may not
be specifically enumerated in this charter.
ARTICLE ii.
| The domcile of this corporation shall be IN
| the City of New Orleans, louisiana, and all
citations legal process shall be served
upon the President, and in the event OF his
absence inability to act, upon the vice
| President, or Secretary in the order named.
+
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
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 Nat
ural causes, TO provide the services OF physi.
clan and Medicine and generally to do and
perform all things necessary OF may relate
or appertain TO the objects and purposes above
expressed and in conformity with Act No. 65
of the General Assembly of 1906 as amended
by Act No. 246 of the General Assembly Of
1908
ARTICLE ".
The authorized Capital stock of this cor
poration Is hereby fixed at Fifty Thousand
(s50OO00O Dollars to be divided into and
OF the par value of Ten (Sl0) Dollars, with
authorized Surplus of Twenty-Five Thousand
(S25OO0 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 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 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
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 >roper
The Officers of the Company shall be a
President, and one more vice-Presidents,
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.: Mainesra, Jr., Eugene
II. Daste, Jno. J. Daily and Dr. William
H. Weaver, who shall hold office until
n the Third Third ., Thursday Of July, 1920 0,
and qualified, and the first officers shall be
Patrick J. Donegan, as President; Edward
!. Ransom, Jack Panno, as Vice Presidents;
Dr. Robert j. Mainegra, Jr., as secretary, Eu.
tinue in office until t..-rr successors have
been duly elected and qualified On the
Third Thursday of July 1920, and annually
thereafter, or as soon after as possible, at
meeting of the stockholders called for that
purpose, an election for Directors shall be
held at the office of the Company, in the
City of New Orleans, Louisiana, after ten
days written notice, mailed TO each Stock |
holder at his last known address, and by
publication for not less than ten days prior
to said meeting in daily newspaper published
IN the City of New Orleans. AT said election
each Stakeholder shall be entitled to cast,
elther 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 10 fill |
in the Board of Directors which
shall be hlled for the unexpred term from
among the stockholders of the company
ARTICLE vi.
Ihls charter may be amended changed or |
modified, or this corporation may be dis |
solved and its business terminated at any
time by vote of three fourths of the stock |
present or represented at a general meeting
OF the Stockholders, convened for that pur. |
pose, after thirty days written notice mailed |
to each stakeholder at his last known adj |
dress, and by publication in a daily news.
paper published in the City of New Orleans
Tor not less than Thirty days prior to said |
meeting
ARTICLE VII
At the termination of this charter by limi.
tation, or on the dissolution of the corpora-
tlon, as hereinabove stated, or otherwise TIE |
affairs OF this Company shall be liauidated bv
three commissioners chosen by a majority Of |
me STOCK present or represented at a stock
holders meeting held for that purpose. after |
ten days written notice mailed to each |
stockhoider at his last known address, or at |
the meeting at which the dissolution ia a.
termined upon. The liquidating Commissioner.
shall give bond or other security as the stool.
holders may determine, and shall fully Iioui. |
date and settle the affairs Of the corporation |
unuer SUCH rules and regulations ,n,y n. /