Provisions were made in the statutes for the appointment of an agent in Texas to be the executive officer of the organization in that state, and who would be held directly responsible to the governors of the society. Considerant accepted the proffered position and was instructed to establish himself in America, where he was to receive subscriptions and deliver bonds purchased from the society; acquire or sell in the name of the society, furniture, tools, and lands; receive payments and give quittance; agree in courts, and treat with the states for concessions, or in general to transact any and all business for the company in America. Furthermore, he agreed to give the society all concessions made by him personally while in America, thus removing any chance of criticism of the conduct of affairs by the officials. His salary was not to be less than $1,200 per year.
The life of the charter of the society was to extend to December 31, 1874, with the possibility of extension of time, provided two-thirds of the bondholders present and voting declared such to be their desire. Should no extension be decided upon, the affairs of the company would be liquidated.
By article thirty-one of the statutes the society was to be constituted as soon as the subscription should reach $100,000, which was declared to have been achieved on September 26, 1854, when A. Brisbane and Godin-Lemaire subscribed $20,000 each, Considerant had brought to the society an undesignated amount.[15] Other people were to be urged to subscribe at least a million dollars for the proposed colony. In fact, before leaving Europe in the early part of 1855, Considerant was able to leave knowing that more than $300,000 had been subscribed for the project, and prospects were good for the total amount to go beyond $2,000,000.[16] Considerant reported that already more than $80,000 had been expended upon the first project of the company at the conclusion of the first year, 1855.
The above amounts were not merely investments in the form that we understand investments today, they were payments of "rights of participation." That is, a man bought a certain amount of bonds and this gave him a right to lands controlled by the company and a corresponding right to draw from the company's storehouse a certain specified amount of materials or food, or as Considerant himself said,