New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-28
N0RPORATTON0..f !

eighteen hundred and seventy before me, Joseph
Sohn notary public 19s s parish s AND city Of
in presence Of the witnesses hereinafter named and
undersigned, personally came and appeared the
declare that, awaiting themselvee OF an act of the
Legislature of this State, entitled An act for the
prexement and utility approved on the fourteenth
of March, 1855, they do by these presents bind
themselves, and those whom they represent as well
as those who may hereafter become members, to
body corporate for the objects and purposes,
and under the stipuatiOns following:
ARTICLE L.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance AssOcla-
ton, of New Orleans" ..
ARTICLE II.
This Corporation shall be located and have its
doniici in the city of New Orleans. 1t shall exist
tor 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 and
the property ofthis Association shall at no time ex'
coed the sum OF three hundred thousand dollars.
ARTICLE III.
The object Oft this association shall be to contract
for the insurance of ife to issue policies for life in
surance and to do all acts relative to that kind Of
insurance ia accordance with the terms and pro-
visions hereinafter specified. They shall have the
right to reinsure. and when the nlinber of sub
citation shall commence operations, make contracts,
sue and be sued. own purchase, receive by dona;
shall have and use corporate seal.
ARTICLE ".
All administrative power shall be vested in nine
teen directors, of whom seven shah form quo.
rum. and such other officers and clerks they NAV
appoint; the directors shall hold their office for the
term OF one year The following persons shall con
stitute the first Board of Directors, and shall hold
Office for year from the date of this char
ter Alexander Marks, A. Elmer Bader, NJ. L.
Block, R. MONTGOMERY. Isaac Levi, jules Cas-
sard Simon Block, $. Leopold, NJ. Stern, L. B. Cain,
+. Hollander, Simon Haber Thee. Berckson,
Leon Haas Pierre Klopman, Alexander shlenker, A.
Bonnecaze, NJ. l.. Navarro and Leon GOdchaux. In
the event of a vacanuy the Board OF Directors,
such vacancy for the remainder OF the term shall
he filled by the election of another person by the
Board of Directors. The BOald of Directors shall,
at their first meeting, elect a President, Vice
President and Treasurer for the term they them
secretary who shall hold his office during good be-
havior, and such other officers as may be
10 Pesden sha Srese
at all the meetings of the Board of Directors and at
the meetings of the policy holders of the associa-
ton generally, under the supervision of the Board
OF Directors. The Vice President shall preside at
the meetings aforesaid in :be absence Of the Presi
dent. and shall perform al the duties devolvng on
the President. The Treasurer shall before enter
ing upon the discharge Of his duties, give bond
and security for "a desi gnated by said Board OF
Directors for the faithful discharge of his duties,
said bond to he approved by said Board Of Direc.
tors. and which bond may be increased in amount
whenever the Board OF Directors may deem it re-
quislte.
This association shall be composed of two classes
the other and shall be designated as policy holders
OF the first class and policy holders of the ecOnd
class Females may also become policy holders in
both classes, without the right TO vote.
ARTICLE W.
Every male admitted member Of this associa.
ton to the class, designated the first class. shall
pay into the treasury. between the ages OF sixteen
and thirty years tincusive the sum of ten dollars;
over the age of thirty years and up to the age of
forty years, the sum OF fifteen dollars: over the
age of forty years and up the age of fifty years,
years and up to the age of sixty years, the of
thirty dollars No male can be insured after said
age of sixty years; every female admitted into
the first class. shall pay into the treasury
the sum OF five dollars additional over the
previous mentioned rates, aud no female shall be
admitted into this class over the age OF fifty years.
ARTICLE VII.
Each person admitted member of the associa-
tOn 10 the class designated as The second class,
shall pay into the treasury. between the ages of
sixteen 10 t!irty-tve wears, the sum OF thirty dol
lars; over thrty-iive wears aud up TO fifty years
the sum of forty dollars after which age no per-
son shall he admitted INTO this class. Applicants re-
siding N the city must have resided SO three full
wears previous to their application. Females over
iorty-hve Years shall not be admitted TO member
ship of the second class The aforesaid sums of
money. when paid. Shall enttle the policy holder
OF the first class to IA sum equal to one dollar for
each enrolled member, and the policy holder of the
second class to equal 20 1--WE dollars for each
enrolled member pavable to his or her legal repre-.
sentative or assigns within sixty days after the
receipt of certified evidence Of death of the policy
holder. bat i'll no case shall the amount paid on said
Whenever the number of members shall exceed
five thousand in the first class and thousand
in the second class the contribution Of all members
exceeding the above shall be set apart il each class
separate fund, and on the decease of any policy
holder thereafter and as long said contributions
exceed the excess shall be appropriated pro rata
iOr 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
certificate Endorsed by the attending doctor. or jury
1.l'l
policy holder of the first class, in case said death
occurs in said class. OF sum not 10 exceed one dol
lar and twenty-five cents, and on every policy
holder Of the second class, said death occurs
in said class, of sum not 70 exceed tive dollars and
fifty cents. which sums shall be payable at the office
OF the association within thirty days after notitca
ton. The failure to pay an assessment within the
above stated time shall be forfeiture of his or her
policy, and the shall be erased from the books
OF the ASSOCIATION, unless good ard sufficient rea-
given. to be decided on by the Board OF |
directors within twenty days thereafter and the |
arrears paid into the treasury. Any policy holder
who has forfeited his policy on the above grounds,
shall he declared Of all benefits arising from the
previous subscription, but shall not be prevented
from applying for new policy by subscription as
new member. All applications for membership |
must he made to the Board of Directors III writing,
stating name, age, residence, occupation; and any |
false statement that shall come to the knowledge |
OF the Board of Directors alter the issue OF the pol
icy shall annul said policy.
Applications shall not be received unless accom- |
panied with certificate of Respectable physician,
cant is in good health and free from all cOnstitu. |
tional or other pulmonary diseases
associations physician examine the candidate for |
admission and in all cases OF examination by him,
he shall be allowed Tee OF one dollar, payable by
Secretary shall Immediately notify the policy hold
ers, and call for the contributions as above speci-
fed. Said notification shall be published for hve
consecutive days in one newspaper published In |
New Orleans, in English, in French, and one in
German and such publication shall be due notice |
to each policy holder
Transfers of policies shall be made upon the books
of the Association only. The enrolment books OF |
the association shall be open to access at ali times
10 p0ii's hoioerS' ARTICLE
The President shall appoint before the expiration
of the term of the present Board OF Directors three
ton. They shall cause the policy no lders OF the
association to be notified by publication OF five con-
secutve days in one newspaper published III New |
Orleans in English, one III french, and one in Ger
ARTICLE X.
Should the earnings of the association exceed the
sum OF fifty thousand dollars in the first class, and
twenty-five thousand dollars i'll the second class,
the Board Directors shall have the right to dis
tribute such excess from time to time to the policy
association, said dividends to be placed to the |
credit of the policy holders to be expended in pay
ment of future assessments provided. that 10
member shall be entitled to such dividend who has
not been member twelve months preceding the |
day said dividend shall be declared
ARTICLE XI.
No member of this association shall be liable for
any of the obligations of the association beyond the
sum Sims which may he due the association by
virtue OF the assessments aforesaid.
ARTICLE XII.
This act of incorporation may be altered or |
amended, slle affairs OF the association pHt mo
liquidation, by u vote of majority Of the policy |
holders represented at any general meeting ~ ne
policy holders called by the advertisements in the
newspapers as atorrsaid provided that majority |
of the policy holders nc; being present at the time
appointed another meeting shall be called after
the lapse OF thirty days, and the members then |
present. whatever their number be, shall be EN- |
powered to act.
ARTICLE Mi.