Inspection to INSPECTION GENERALLY. Sec. 1873. It shall be lawful for any owner, agent, consignee, be voluntary. or receiver of produce, to sell or ship the same, with or without inspection; Provided, however, That the said owner, agent, consignee, or receiver, shall be bound to have any produce offered for sale inspected, when inspection shall be demanded by the purchaser. Said inspection, when required, shall be made by the inspector commissioned under the authority of the State. Act 1855, p. 329. to be made by Sec. 1874. The officers of each insurance company incorporated by the laws of this State shall, within one month from the Annual report close or expiration of each year of the corporation, cause to be insurance published in two or more daily newspapers published in the city companies. of New Orleans, and for the term of at least one month, a full statement, under oath, of the business of the company, which statement shall contain, first, the amount of premium received during the previous year, specifying what amount was received for life insurance, for insurance against fire, what on marine policies, and what on river policies; second, the amount of losses incurred during the year, specifying and designating what amount of losses have been incurred by the different kinds of policies as aforesaid; third, the amount of capital, stating the portion of the same invested in securities, and the nature of the securities. D. Sec. 728. Act 1855, p. 485. made annually of insurance Sec. 1875. Every person acting as agent of an insurance company not incorporated by the laws of this State, and doing fire, Report to be marine or river insurance within the city of New Orleans, shall, by the agent during the month of January of each year, cause a full statement, companies not under oath, of the business of the agency, to be published in the incorporated. manner and form and for the term, as specified in the preceding Penalty for section; and for the neglect or refusal so to do, shall forfeit and neglect or repay into the city treasury the sum of one thousand dollars for the report. fusal to make A protest in to be evidence, in certain cases, of the etc. each and every neglect or refusal. Whenever the parent or principal office of the agency shall publish an annual statement of its affairs, the time mentioned in the first part of this section for the publication of the affairs of the agency, shall be so far changed as to correspond with the annual statement of the insurance company, and shall then be published as aforesaid, within one month from the date of the publication. D. Sec. 729. Sec. 1876. It shall be the duty of any one of the recorders of New Orleans, or justices of the peace, to whom application shall be made for that purpose, to visit any building where a fire may have happened, immediately after the fire shall have been extincause of fire, guished, and inquire into the origin and cause of said fire, examine all witnesses whom the owners or insurers of the property destroyed may desire to have examined under oath, and make and preserve a true and correct record of proces verbal of their testimony, a copy of which record or proces verbal, certified by such recorder or justice, shall be admitted in evidence in any civil action. The party occupying or owning the property, his agent, or any one having the property in charge at the time of the fire shall be notified by the recorder or justice of the examination. claimed and ances, how and when to be published by panies in New Orleans. D. Sec. 1439, 2467. Act 1855, p. 208. Sec. 1877. It shall be the duty of the several banks and insurWeekly state- ance companies, incorporated in this State, on the first Monday of ments of un- January next, and annually thereafter, to cause to be published in unsettled bal- some newspaper printed in the city of New Orleans, once a week, for four weeks in succession, a list of the names of all parties who banks and In- may have in such institution any unclaimed or uncalled for sum of surance com money, specifying the amount thereof, beginning from the several dates of their incorporation, where the same are of three years' standing, or more, at the time of such publications, whether the same arise from deposits, dividends, interest scrip, or result from the non-payment of any drafts, bills of exchange, certificates of deposit, or otherwise, drawn in favor of such person or persons, and not subsequently paid by such institution, or as in the case of certificates of scrip not subsequently paid or delivered to the owner thereof; also all interest on scrip due and unpaid for more than three years since the same became demandable; and generally all indebtedness of such institutions, in any manner whatever, of more than three years' standing, or where the evidence of the fact of the indebtedness is exclusively in possession of such institutions. D. Sec. 742. Act 1859, p. 142. Same publica rated Sec. 1878. The said duty of publication, according to the protion to be made visions of this act, is hereby imposed upon all incorporated instiby all incorpo-tutions of this State, receiving deposits or declaring dividends on tions receiving money, scrip, or other evidences of indebtedness; and the same claring divi- shall be verified by the affidavits annexed thereto of the president dends. and cashier, where they are made by a bank, and of the president and secretary when made by an insurance company. deposits or de D. Sec. 748. jects the corpo Sec. 1879. Each and every omission to advertise in accordance Omission to make said pubwith the provisions of this act shall subject the corporation so lication suboffending to a fine of one thousand dollars, recoverable before any ration so omitcourt of competent jurisdiction, at the domicile where such cor- ting to fine. poration is established, in the name of and for the benefit of the charity hospital of New Orleans; Provided, The publication herein Proviso. directed is only required when the sum exceeds ten dollars. D. Sec. 744. Provisions of Sec. 1880. This act shall not apply to the incorporated sav- this act not to ings banks of this State. Sec. 1881. D. Sec. 745. apply to incorporated savings banks of this State. There shall be levied and collected an annual Licenses. amount as a license : From each insurance company, whether incorporated or not by Insurance the laws of this State and transacting an insurance business herein; companies. from each banking company or agency, unless exempted by their charter, one thousand dollars. D. Sec. 815, 732, 3232, 3234. Act 1869, p. 146. ance compa Sec. 1882. The mutual aid and benevolent life insurance association and the workingmen's mutual life insurance society of Certain insurLouisiana, being institutions formed for benevolent purposes, be nies exempt and the same are hereby exempted from the payment of all license from license taxes, and this act shall take effect and be in force from and after its passage. tax. INTEREST. Rate of legal interest. Rate of conventional interest. Right given to sue for interest Sec. 1883. All debts shall bear interest at the rate of five per cent. from the time they become due, unless otherwise stipulated. C. C. 2923 (2894) to 2925 (2896); D. Sec. 565; 24 A. 17. Act 1855, p. 352. Sec. 1884. Article two thousand eight hundred and ninetyfive of the Civil Code shall be so amended that the amount of conventional interest shall in no case exceed eight per cent., under pain of forfeiture of the entire interest so contracted. Sec. 1885. If any person hereafter shall pay on any contract a when higher higher rate of interest than the above, as discount or otherwise, the same may be sued for and recovered within twelve months from the time of such payment. rate than al lowed has been paid. holders of pro Sec. 1886. The holder of any circulating note which may have Damages due been protested for non-payment, shall be entitled to damages at tested paper of the rate of twelve per cent. per annum, in lieu of interest, until free banks. final payment, payable out of the general fund of the insolvent party. D. Sec. 298, 320, 821. Act 1855, p. 214. Sec. 1887. Bankers and banking companies shall be entitled to Rates of inter- charge and receive discount at a rate not greater than the maxiest chargeable mum allowed by law on conventional obligations; and their other tions. contracts shall be regulated by the laws in regard to interest upon contracts between individuals. by corpora D. Sec. 299, 316. Sec. 1888. Instead of the highest conventional interest, which Amendment. tutors of minors are by the three hundred and forty-first article made liable to pay to their pupils on the funds which they may have failed to place at interest for their use, the said tutors will be accountable only for legal interest. C. C. 847 (341); D. Sec. 424, 2347, 3826. Act 1825, p. 198, § 1. |