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![handle is hein.slavery/ssactsla0450 and id is 1 raw text is: [271 ]
.No. 288.] AN ACT..
To incorporate the New Orleans Marine and Life Insurance Company.
SacrIoN 1. Be'it enacted by the Senate and House of Representa-
Incorporation Lives of the State of Louisiana in General Assembly convened, That
o the company. James Reed, Geo. W. Hyson, Geo. C. Lawrason, P. Deverges, A. D.
Crossman, Peter Marcy, P. C. Wright, R. B. Sumner, Newton Rich-
ards, W. M. Perkins, Daniel Edwards, Denis Crona, C. G. McHatton,
Goo. W. Ward, W.- S. Pike, James H McBatton, and all such other'
persons as shall hereafter become.stockbolders in the company here.
Its 11., domi. by incorporated, shall be a body politic and corporate, by the name
el andtam of The New Orleans Marine and Life Insurance Company, to have
its domicil in the city of New Orleans, and such corporation shall
continue for the term of thirty-five yqurs from and after the passage
of this Act.
Powers of the SEc. 2. Be it further enacted, dc., That the corporation hereby
company. created shall have power: First, to make marine insurance upon all
sea-going vassels, whether sailing vessels or steamers, and upon all
vessels, steamers, flatboats, keelboats, arks, or other craft of what-
ever name or description, engaged or employed in any lake. river
or inland navigation, and upon all goods, wares and merchandise to
be transported thereon, and upon freight, bottomry, respondentia in.
terests, and all sea, lake, river and inland navigation risks of every
kind soever. Second, to loan money on bottomry, respondentia
bonds and mortgages, stocks, and cause themselves to be insured
against risks of every kind, upon the interest acquired in the course
of their business under this Act. Third, to grant annuities for lifb
or lives for years. Fourth, to make life insurance.
Amount of SEC. 3. Be it further enacted, &c., That the.capital stock of said
taphtat' corporation shall be one million of dollars, which shall be divided
into ten thousand shares, of one hundred dollars each.
Comnissoners SEC. 4. Be it further enacted, &c., That G.o. W. Hynson, George
appointed to r. b
celve subecrip 0. Lawrason, R. b. Sumner, Win. M. Perkins and Peter Marcy be and
cons. they are hereby appointed Commissioners to receive subscriptions to
the stock of said corporation in the city of New Orleans, and the
said Commissioners shall open books for tho purpose of receiving
subscriptions to the capital stock, on such a day and and at such
places as they may appoint, and shall give at least thirty days pre-
vious notice of such time and place, in one or more of the public
newspapers published in the city of New Orleans, and if the whole
of the capital stock be not taken up, at the time appointed as afore-
said, the Commissioners may receive further subscriptions on such
other day or days as they shall from time to time appoint until the
whole of.the capital stock of said corporation shall he taken up.
SC. .5. Be it further enacted, dc., That the stock and affairs
of the said coiporation shall be managed and conducted by nine
Directors, each of whom shall be a stockholder to the amount of at
* least one thousand dollars, a citizen of the United States and a re-
sident of the State of Louisiana; they shall be elected on the first](ViewImageLocal?handle=hein.slavery/ssactsla0450&div=1&collection=&method=preview&ext=.png&size=3)