New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-13
CORPORATIONS.
IN CHARrER.
- -
(NHARTER.

S1 city Of q t New Orleans. S.
Be known that this first day Of AuSnst A. D.
Cohn, notary public for this parish and citJ -
New Orleans duly commissioned and qualfeai, a anS
undersigned personally came and appeared tnc
parties whose names are hereto subscribed, wno
declare that awaiting themselvee OF an act 81 Inc
Legislature Of this State, entitled An act for the
organization of corporations for works Of public I'M
Of March, 1855, they do BY these presents bind
themselves, and those whom they represent as wen
form body corporate for the objects and purposes
and under the stipuations following: 49,
ARTICLE I.
The name and style of this corporation shall -
"Cosmopolitan Mutual Aid Life Insurance Associa-
ton, of New Orleans"
ARTICLE II.
This CORPORATION shall be located and nave its
doc in the city Of new years from ths date q
this charter. All legal process shall De served on
the property of this Association shall at time ex
coed the sum of three hundred Thousand dollars.
ARTICLE Ill.
The object of this association shall be to contracs
fer the insurance of life to issue policies Tor NE IN
sSrance and to do ali acts relative to that kind Of
| insurance in accordance with the terms anu P5ro
visions hereinafter spee1nea nsy nmber Of sub
scribers shall reach hundred and fifty the Asso
citation shall commence operations maxi ~ a,sss
sue and be sued, own, purchase receive ~ uc n.c
| ton, sell property, movable and immOvaoie' anu
| shall have and use n corporate seal "a
ARTICLE Nv.
All administrative power shall be vested in nine
| teen directors of whom seven shall form quo
RAM and such other officers and clerks az they may
term of one year The following persons shall con.
stitute the first Board Of Directors, and shall hold
s tern A seS ns Mar Marks 0 Eimer Bsder
Block R. Montgomery, Isaac Lew Levi JUGS c Las
f aonnae Simon a"ss Tso
Leon Haas, Pierre Kiopman. Alexander shlenker 4:
Of " vacancy in the Beard Of directors
such vacancy for the remainder OF the term shMi
be filled by the election Of another person by the
at their first meeting, elect President a vice
President and Treasurer for the term they them
secretary who shall hold his office during good be-
havor and such other officers as may De'
to Ths President sna pres
at all the meetings Of the Board of Directors aud e
on snd sa II conduct the business Of the sssoca
tion generally under the supervision Of the Board
t ~ meetings aforesaid in the absence Of the Presi
dent, and shall perform all the duties deyolvlns on
ing upon the discharge Of his duties, give bond a q
and security for designated by said Board o.
bSas tor ss s S saa Of
tors and which bond may be increased IN amount
whenever the Board of Directors may deem II rer
=, quisite .,-,c,r,
This association shn be composed Of two CLASSES
Of policy holders each separate aud dssrfs e
Of the first class and policy holders Of the se cona
class. Females may also become policy hoaoess =
ARTICLE vi.
, Every male admitted member Of this associe:
ton to the class, designated the first cass, shall
and thirty years (nciusve) the Of ton dollars
the age of thirty years aud up TO the age s ~
Of forty Years and up to the age Of sy ye
| tie sum OF twenty dollars; over the age Of fifty
and BE ssss Of 5s th ssq
age of sixty years; every female admitted into i,
the first class shall pay into the treasury ths
+ previous mentioned rates, and no female shau DC
admitted into this class over the age Of fifty years.
ARTICLE VII
Each person admitted a member of the associa-
ton TO the class designated as the second class
shall pay into the treasury between the ages q
sixteen to thirty years, the sum OF thirty doi
: lars; thrty-tiye years aud up to fifty years
10 the of forty dollars after which age no per
son shall bs,dntted into this class. Applicants re,
o siding in the city must have resided three full
years previous to their application. Females ovei
d ship of the second class. The aforesaid sumo O
u money when paid, shall entite the policy holder
a each enrolled member, and the policy holder6f tns
Il second class to sum equal to five dollars fer eaci
- enrolled member, payable to his or her legal repre-
d sentative or assigns within sixty days after The
receipt OF certified evidence of death of the policy
a holder but in case shall the amount paid on said
IL policy exceed the sum of five thousand dollars.
Whenever the number OF members shall excees
five Thousand III the first class and one. tnOusanc
in the second class, the contribution OF all mem6erl
exceeding the above shall be set apart in each clase
=, separate fund.- and on the decease OF any ponc!
holder thereafter and long said contr1but10nf
exceed the shall be appropriated pro rats
for the purpose OF diminishing said contTbutiol
and said dlIninutlon shall DC the SAM
fer each and every member of the association. o.
the notification of the death of any policy holder y
the officers of the association, accompanied WITH
certificate indorsed by the attending DOCTOR or Jur,
OF inquest, assessment shall be inade upon eac
policy holder OF the first class Ill case SAID ueat
T. Occur sin said class of not to exceed one do
e, lar and twenty-five cents, and on every Ponc
holder the second class in case said death occur
e. III said class of to exceed five dollars AM
p fifty cents which shall be payable ut the ono
ne of the association within thirty days after notifies
ne ton The failure TO pay an assessment within th
70 above stated time shall be forfeiture OF ms q nc
of the association, unless good and suffi Gent rel
y sons are given to be decided on ny the Board
r. Directors within twenty days thereafter. ana U
arrears paid into the treasury. Any policy holde
le who has forfeited his policy on the ABOVE groun0
shall be debarred of all benefits arising from th
be previous subscription, but shall not be prevente
from applying for q new Pohcy by supscr1pIont
member. All applications for memoershl
must be made to the Board OF Direct Ors III wLltml
u stating name, age, residence occupation ana an
false statement that shall come to the I9 ,S
the Board of Directors after the issue OF the Pc
icy shall annul said policy I
M Applications shall not be received unless accom-
c. panied with certificate of Respectable sicla5
from the associations physician: that the appl
)F cant is in good health, and free from all consttr
On The ASSOCIATION reserves the right to have th
Ic- associations physician examine the candidate e
Ell admission, and in all cases OF examination Oy nm
in he shall be allowed fee of one dollar payable 9
er the applicant Upon the death OF member u
Secretary shall Immediately notify the policy hOt
ers, and call for the contributions rs above spec
| fed Said notification shall be published for ny
- consecutive days in one newspaper pubiished
4. New Orleans in English, one i'll Freuch, aud one
German. and such publication shall be due motto
Of to each policy holder. sa
u ARTICLE VIII.
III Transfers of policies shall be made upon the bool
en- | of the Association only. The enrOrneH books
lin the association shall be open TO access at all TINT
er to policy holders.
The President shall appoint, before the expiratic
of the term of khe present Board Of Directors, thrt
- discreet policy holders, who shall llejudges Of Gle
ton. They shall cause the policy no lders OF Il
sH association to be notified by publication OF hve co
,d secutive days In newspaper published IN Ne
in Orleans in English, in French, aud one IN &c
he man.
ny Should the earnings Of the association exceed G
ca Of fifty thousand dollars i'll the first class Al
'u twenty-five tfousInd dollars in the second cia.
the Board of Directors shall have the right to d
tribute such excess from time to time to the poll
holders pro RITA. dividends the profits OF T
association, said dividends to he placed to {
credit of the policy holders, to be expended in pa
81 rnent OF future assessments; provided, that
10 member shall De entitled to such dividend who
ice not heel, member twelve months preceding Il
,ut day said dividend shall be DECLARED.
ARTICLE II.
!. No member O: this association. shall be liable
n any OF the obligations of the association beyond .
which may be due the ASSOCIATION
OF | virtue of the assessments aforesaid
ars ARTICLE XII
er This act of incorporation may be a!tered
re- amended CT the affairs of the association put IN
the Gn,iTat go ~ a ,ote of a majority ot the poll
OF holders lr1r Sented n; am general mcetin. Of L