New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-08
CORPORATIONS.
CHATTER. cHARTER.
St oity 81 Of sEs s~ osi..n. +. j

A. ID.
eighteen hundred and seventy, before me- Joseph
Cohn notary pubic for this parish and city Of
New Orleans Oily commissioned and qualified, and
0Hdersigned, personally came and appeared the
parties Whose names are hereto subscribed, who
Legislature Of this State entitled IAN act for the
organzatieo Of corporations for works of public I'M
isa utility approved on the ht6
themselves, and those whom they represent as well
= those who may hereafter become members, to
end the POPULATIONS following;
ARTICLE 1.
The name and style Of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Associa-
eoo of New Orleans"
ARTICLE II.
This Corporation shall be located and have it's
domicil in the city of New Orleans 1t shall e1ist
for q term of twenty-five years from the date of
this charter All legal process shall be served on
the President or the acting President Thereof ana
coed the sum of three hundred thousand dollars
ARTICLE ILL.,
The object of this association shall be to contract
for the insurance of life to issue policies for lie IN
aurance and to do all acts relative to that kind of
insurance in accordance with the terms and pro,
visions hereinafter specified They shall nave the
right to reinsure. and when the number OF sub
scfibers shall reach two hundred and fifty the Asso-
citation shall commence operations make contracts,
and be sned own n pS ns
shaL have and use a corporate seal
ARTICLE ".
All administrative power Shall DC Vc6teC III uiue
teen directors, of whom seven shall form quo
rum and such other officers and clerks as they may
appoints the directors shall hold their oifcs for the
stitute the first Board of Directors, and shall hold
office for one year from the date Of this char
sard Simon Block s. Leopold M. Stern, L. B. Cain,
r Hoilander Simon Haber, Thee. Berckson,
Leon Haas Pierre K!opman, Alexander Shlenker, A.
Bonnecaze, NJ L. Navarro and Leon Godchaux. In
the event of vacancy in the Board of Directors
for the remainder of the shall
be filled by the election of another person by the
Board of Directors The Board Of Directors shall,
at their first meeting elect President, Vice
President and Treasurer for the term they them
selves have been elected; They shall also elect a
isS,-i and such other oi6cers as may be
necessary to carry on the business of the
at al the meetings of the Board of Directors and
the meetings of the policy holders Of the associa
ton and shall conduct the business OF the associa
of Directors. The Vice President shall preside at
the meetings aforesaid in the absence of the Presi-
dent and shall perform all the duties devolving on
the President The Treasurer shall, before enter.
ing upon the discharge Of his duties, give bond
directors for the faithful discharge of his duties,
said bond TO be approved by said Board of Drec-
whenever the Board Of Directors may deem it re-
quisite.
This association shall be composed Of two classes
of policy holders. each separate and distinct from
the other and shall be designated as policy holders
OF the first class and policy holders the second
class. Females may also become policy holders IN
both classes, without the right to vote.
ARTICLE W.
Every male admitted o member Of this associa:
tion to the class, designated the first class shall
pay into the treasury between the ages OF nars
over the age Of thirty years and mp to the age OF
forty years, the sum of fifteen dollars; over the
age of forty years and to the age Of fifty years
the sum Of twenty dollars; over the age Of nifty
years and up to the age of sixty years, the sum OF
age Of sixty years; every female admitted into
the first class, shall pay into the treasury
previous mentioned rates, and no female shall be
admitted into this class over the age OF fifty years.
ARTICLE VII.
Zach person admitted member Of the assOcia-
ton to the class designated as the second class,
shall pay into the treasury, between the ages OF
sixteen to thrty-f years the sum OF thirty dol
lars; over thirty five years and up to NIFTY years
the OF forty dollars after which age no per-
son shall be admitted into this class. Applicants
siding in the city must have resided so three full
forty,tire Years shall not be admitted to member.
ship OF the second class. The aforesaid sums OF
money when paid shall entitle the policy holder
OF the first class to sum equal to one dollar for
each enrolled member and the policy holder Of the
second class to sum equal to five dollars for each
sentative or assigns within sixty days after the
receipt of certified evidence of death of the policy
holder, but in shall the amount paid on said
policy exceed the sum of five thousand dollars.
Whenever the number of members shall exceed
five thOuSand in the first class. ana one tnOusdHu
in the second class the contribution OF all members
exceeding the above shall be set apart IN each class
as a separate fund and on the decease OF any policy
holder thereafter, and as long as said contributions
so exceed the shall be appropriated pro rata
for the purpose of diminishing said contribution
assessments and said diminution shall be the same
for each and every member of the association On
the notification of the death of any policy holder TO
the officers of the association accompanied with a
certicate Endorsed by the attending doctor jury
OF inquest an assessment shall be made upon eacn
policy holder of the first class, In case saia deatn
.,- I,1a snfo Sf1rn
lar and twenty five cents, and on every pcllcy
holder of the second class in said death occurs
fifty cents which shall be payable at the office
of the association within thirty days after notiic
above stated time shall be forfeiture of his or her
policy and the name shall be erased from the books
OF the association unless good ana suinG,ent 1e
sons are given, to be decided on by the Board !, Of
Directors within twenty days thereafter, and the
paid into the treasury. Any policy holder
shall he debarred of all benefits arising from the
previous subscription, but shall not be prevented
anew member All applications for membership
must be made to the Board of Directors IN writing
statinC name age residence. occupation and any
false Statement That shall come to the knowledge
the Board OF Directors after the issue OF the pol
icy shall annul said policy.
panied with a certificate of respectable physician
or from the associations physician that the appn
cant is in good health, and free from all constitu
tional or other pulmonary diseases
The association reserves the right to nave tne
associations physician examine lne caHuiudtc ioi
admission and in all cases Of examination by nun
he shall be allowed fee of one dollar, payable D!
the applicant. Upon the death of a member IN,
Secretary shall Immediately notify the Pones no
ers and call for the contributions as above spec
fed. Said notification shall be publshed LOT nv
consecutive days in one newspaper puDnsheu IL
New Orleans in English, one in French ana one II
German, and such publication shall be due notic'
to each policy holder
ARTICLE VIII.
Transfers of policies shall be made upon the book
of the Association only. The enrolment books O
the association shall be open to access at all time
to policy holders
The President shall appoint, before the expiration
of the term of the present Board Of Directors thre
discreet policy holders, who shall be judges OF ee'
ton They shall cause the policy holders OF tn
association be notified by publication OF hve cor
secutive DAYS in one newspaper published IN Ne'
Orleans in English one in French, and one IL Fel
SbouId the earnings of the association exceed tn
sum of fifty THOUSAND dollars in the hrst Glass; an
twenty-five thousand dollars IN the second Gas
the Board of Directors shall have the rlgnt 10 th
tribute such excess from time to time TO the pOhc
holders pro rata. as dividends on the prohts OF %
association said dividends to be placed 10 III
credit of the policy holders, to be expended IN pay
ment of future assessments; provided, that Il
member Shall be entitled to sucn DIVIDEND no ne
not been a member twelve months preceding u
Say said dividend shall be declared
ARTICLE XII
No member of this association shall be liaoie e
anv oF the OBLIGATIONS of the association beyond tn
sum or sums which may be due the ASSOCIATION
virtue of the assessments aforesaid.
ARTICLE XII.
This act of Incorporation may pc alleIea
amended or the affairs of the association put ~ ~
liquidation, by vote of majority OF tne pOuS
holders represented at any general meetlnS VI :,
policy holders called by the advertisements IN u
newspapers as aforesaid; provided, that msDo!I'
DOllCV holders