Page:Federal Reporter, 1st Series, Volume 10.djvu/345

 KEW OBIiEANS NAT. BANKING ASSOCIATION V. WILTZ. 333 �ter, or bj' by-law or statute, to create a privilege on property actually and necessarily within commerce. �The case of Bryon v. Carter, 22 La Ann. 98, is in point. In that case the by-law of the bank was of as mucli force as the charter, in this: because the act of 1855, § 8, in relation to free banks, gave authority to the corporation to direct the manner of the transfer of uunk stock on its books, and it is noticed that the by-law in that case is almost identical with the provision relating to transfer in this. See, also, Bulland v. Bank, 18 Wall. 589; Bank v. Lanier, 11 Wall. 869. �In the case of Driscolly. Bradley Manufg Co., 59 N.T. 96, where a lien was claimed under a by-law of the corporation, the court lays down this proposition: "Hence, if the defendant is to maintain this by-law, it must point ont the authority, either in its articles of asso- ciation, and show that they are authorized by law, or in so^ae stat- ute." �I take it that the law in this state is the same. The Insurance company, to prevail in this case, must show its authority for the re- strictive provision in its charter in some statute or law of the state. �In addition to this, under article 123 of the Louisiana constitution of 1868, in force at the time of the transactions under consideration, the privilege claimed by the insurance company should haye been recorded, to have had any effect against third persons. And it should have been recorded, too, in the registry of mortgages and liens and privileges. L. C. C. art. 3388. Eecording in any other book would not preserve the privilege. See Louque's Dig. 613, and authorities there cited. �The evidence filed only shows a general recordation of the charters of the insurance company in the society books kept for that purpose. See certificates of recorder attached to charters on file. ��� �