The herald., 1921-01-06
CHARTER OF CITIZENS LIFE INsUR-
ANCE COMPANY.

United states of America, State of Lou
i i, Parish Of Orleans; City of New Or
leans. Be 1t known, That on this No
vember 10th, 1920, before me, Edward
Rightor, Notary Public, duly commits
stoned and qualified, in and for the Par
ish and State aforesaid, therein residing
and in the presence OF the witnesses here
matter named and undersigned, personally
came and appeared the persons whose
names are hereuntT subscribed, all of the
full age Of majority and residents of this
State and citizens of the United States
who severally declared that, availing them
selves of the provisions of Act No. 1O5 of
1898, Act No. IS of 1906, as amended by
Act 240 of 1915. and Act 246 of 1908, of
isiana, they do by these presents covenant
and agree and bind themselves, as wen as
such other persons as may become here
after associated with them, in order to
polite in law. for the objects and pur.
poses and under the stipulations follow
ing:
ARTICLE 1.-The name and title of this
corporation shall be Citizens Life Insur-
ance Company, and under that name it
shall have and enjoy all the rights, privi-
leges and advantages granted by law to
corporations, and shall have the power and
authority to enjoy succession and cor
porate existence for and during the period
OF ninety-nine years from the date hereof
unless sooner dissolved in the manner
hereinafter provided for.
Said corporation shall have power and
authority to contract, to sue and be sued.
to make and use corporate seal, and the
same to break, alter or amend at pleas.
ure; to hold, receive, purchase, convey, de-
liver. mortgage, hypothecate and pledge
any property, real or personal, and to is
sue notes and other obligations, negotiable
instruments or other evidences Of debts: to
have and employ such managers, agents
and other employees as the interest and
convenience Of said corporation may re-
Quire or demand, and to make and es-
tablish such bylaws, rules and regulations
for the corporate management and control
OF Its affairs as may be deemed necessary
and expedient.
poration shall be in the City of New Or
leans, Parish Of Orleans, State of Louis
lana, and all citations and other legal
process shall be served on its President.
OF In the event OF his absence, upon the
Vice-President, or in the event Of the alb
sence of both Of said officials, upon the
Secretary.
ARTICLE III.-The objects and Dur
poses for which this corporation is created
and the nature Of the business to be car
ried on are hereby declared to be: To
carry on an industrial life insurance bust
ness In all of it's branches, for which stipu-
lated premiums, advance assessments or
dues are regularly payable and collecti-
bic every four weeks, tri-weekly, bi-weekly,
weekly, semi-weekly or at any other stated
terms not exceeding one calendar month
apart, and the policies or benefit certif-
Gates for which are for sums Of five hun
dred dollars or less, on a single life, or
which policies or benefit certificates pro.
vide weekly cash benefit for disability.
caused by sickness or accident, of twenty
dollars per week or less, or which pro-
vide for the attendance Of physician or
supplying drugs, or furnishing fun
eral.
ARTICLE Gv.-The capitol stock of this
corporation Is hereby fixed at the sum OF
ten thousand s10, 0oo0o) dollars. divided
into and represented by one thousand
Q,OO0) shares Of the par value Of ten ($1O)
| dollars each, which shall be evidenced BY
certificates and shall be fully paid in cash
before being issued. Such certificates OF
capital stock shall be transferable only
| on the books Of the corporation and shall
be worcestershire.
All stock Of this corporation, provided
for herein or that which may be hereafter
issued, shall be valid only IL signed BY
the President and counter signed BY the
Secretary.
Before any stakeholder shall sell or dis.
pose Of his stock in the corporation. he
shall give thirty days written notice of his
intention so to do to the corporation. dur.
| ing which thirty days the corporation It
self shall have the right Of purchasing the
stock at its book value.
ARTICLE v.1Ali the corporate powers
| OF this corporation shall be vested IN and
exercised by a Board Of Directors. com.
posed of not less than FIVE nor more thar
| nine stockholders, all Of whom shall b,
| citizens OF the United States and residents
| Of the State Of Louisiana and each shall
| own at least ten shares Of stock of thi,
| corporation. They shall hold office fol-
| hve years or until their successors ar,
elected and qualified. The Board Of Di
rectors shall hold monthly meetings
The Board Of Directors shall have DOW
ef to make, amend or abrogate all bylaws
| rules and regulations for the management
Of the affairs Of the corporation; to ap
point, employ and discharge all officers