New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-11
CORPORATIONS.
VV2O4 V4Ulk 14VRV0u
QUARTER. ....................C CHI AFTER.
STATE OF LOUISIANA, l..
(Sfv of Va Orlnana CO.

New orleans, duly commissioned and ouarified. and
in presence Of the witnesses hereinafter laned and
parties whose names are hereto subscribed who
declare that. awaiting themselvee Of an act Of the
organization of corporations for works of bubble i'm
provement and utility" approved on the fourteenth
Of March, 1855, they do by these pressnts bind
themselves, and those whom they represent az we'll
as those who mag hereafter become m4mbers to
form body corporate for the objects andlpurpOses
and under the stipulatiOns following
ARTICLEI
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insuraude Associa-
tion of New Orleans"
ARTICLE H.
This Corporation shall be located and have ts
domicil in the city of New Orleans IL shall exist
for a term of Twenty-Five Years from tIe date ~
this charter All legal process shall be served on
me President or the acting President Thereof and
the property OF this Association shall at NIB time ex-
eeed the sum of three hundred thousand dollars
ARTICLE III.
The object of this association shall be to contract
for the Insurance of life to issue policies for life III.
snrance and to do all acts relative to that kind of
insurance In accordance with the terms and pro-
visions hereinafter specified They shall have the
right to reinsure. and when the number OF sub
scrlbtrs shall reach two hundred and fit the AssO-
cation shall commence operations, make contracts
non; sell property, movable and imnloi able and
SHAN nave and Use a corporate seal.
ARTICLE w.
All administrative power shall be vesteh in nine
"a q %.
rum, and such other officers and clerks as they NAY
appoint; the directors shall hold their office the
term Of one year The following persons shall con.
stitute the first Board OF Directors and shall hold
office for one year from the date OF this char-
ter Alexander Marks, A. Elmer Badkr,. NJ. L.
sard Simon BoeS IeaS Ssae stern ney es ans
F. Hollander Simon Haber, Thee Berckson,
Leon Haas Pierre Klopmall Alexander shlenker, A.
the event of a vacancy in the Board of Directors,
such vacancy for the remainder of the term shall
be filled by the election of another person by the
Board of Directors. The Board Of Directors shall!
at their hrst meeting, elect - President, Vice
President and Treasurer for the term they them
selves have been elected; They shall also elect a
secretary, who shall hold his office during good be-
havior, and such other .ofhc.~s as may be
association The President shall preside
at all the meetings Of the Board of Directors and at
the meetings of the policy holders of tie associa-
ton and shall conduct the business of the associa-
ton generally, under the supervision Of the Board
of Directors The Vice President shall preside at
the meetings aforesaid in the absence Of the Presi
the President The Treasurer shall, before enter:
ing upon the discharge of his duties, give bond
and security for sum designated by said Board OF
Directors for the faithful discharge of his duties,
tors, and which bond may be Increased in amour,
whenever the Board Of Directors may deem It re-
quis!te.
This association shall be composed Of two classes
of policy holders, each separate and dittinct from
the other and shall be designated as policy holders
Q. the first class and policy holders Of the Sc eond
class. Females may also become pOlicyILolders Ia
both classes without the right to vote.
ARTICLE VI
Every male admitted member of this assoca.
ton 20 the class. designated the first class, shall
pay into the treasury between the ages of sixteen
and thirty years (inclusiye) thesunl OF ten dollars
over the age of thirty years and up to the age OF
forty wears the of fifteen dollars over the
age forty years and up to the age OF fifty years
| the sum of twenty dollars; the age Of fifty
years and uptO the age OF sixty years, she scm OF
thirty dollars. No male can De INSURED amer saiu
| the first class, shall pay into tle treasury
the of five dollars additional over the
previous mentioned rates, and no fcuiale shall be
| admitted into this class over the age OF fifty years
| ARTICLE VII.
| Each person admitted member of the associa-
| ton TO tie class designated as the Second class,
shall pay into the treasury. between the ages OF
sixteen 10 thirty -tive years the sum of thirty dol
lars: over thirty-tive years and up to fty years,
| the sum of forty dollars after which age no per-
son shall he admitted into this class. Applicants re-
siding in the city must have resided sd three ful
| wears previous their application. Females over
| forty-hve years shall not be- admitted 10 member
| ship of the second class. The aforesaid sums OF
! money, when paid shall entitle the pdhcy holder
OF the first class to sum equal to ono dollar FOR
each enrolled member and the policy hplder OF the
second class 10 sum equal to hve dollars tor eicn
enrolled member payable to his or herIlega repre-
sentative or assigns within sixty dayb after the
receipt of certified evidence of death OF the policy
holder but in no 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. and one thousand
in the second class. the contribution OF pers
exceeding the above shall be set apart ih each class
| a separate fund and on the decease q any poncy
holder thereafter, and long said contributions
s6e e Of said
| assessments and said diminution shall be the same
for each and every member of the assOEiatlon. 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
of inquest. assessment shall be made upon eacn
policy holder of the first class in casd said death
occurs in said class. of sum not TO exceed one dol
| lar and twenty-five cents, and on fvcrv poncV
holder of the second class in said death occurs
in said class of sum not to exceed hvd dollars and
fifty cents which sums shall be payabl4 at the once
OF the association within thirty days AFTER nonca-
| rion The fhure TO pay an assessment within the
above stated time shall be forfeiture # his Or her
policy and the name shall be erased from the books
of the association unless good and s!lihcent rea,
| sons are given to be decided on by the Board OF
| Directors within twenty days Thereafter. and Me
l arrears paid into the treasury. ANY Hohcy hoider
who has forfeited his policy on the aeove grounds
shall be debarred Of all benefits arising from the
| previous subscription but shall not pc prevented
| from applying for a new policy by subscription as
| a new member. All applications for line III bershlp
must be made to the Board of Directors in writing,
stating name. age. residence, occupation and any
false statement that shall come to thu knowledge
of Board of Directors after the issue OF the pol
AppIications shall not be received unless accom-
panied with certificate of respectable physician
| or from the associations physician, that the appn
cant is in good health and free from all c0nstltu'
| tional or other pulmonary diseases.
! The association reserves the right to have the
associations ply stefan examine the candidate Tor
admission and in all cases of examination oy MN,
| lie shall be allowed fee of one dollar, payable by
| the applicant Upon the death Of a member, the
Secretary shall immediately notify the policy hod
| ers and call for the contributions as above specl-
fed Said notification shall be publ shed for We
| consecutive DAYS in one newspaper pubnsheu III
New Orleans in English, one in French ana one IN
| German and such publication shall I've due notice
to each policy holder.
ARTICLE VIII
,,o1icas Sl,a he made mon the books
of the Association only The enrolment books OF
the Association shall be open to access at all tunes
to policy holders
Tie President shall appoint, before the expiration
of the Of the present Board of Directors three
discreet policy holders, who shall be judges of cleo
ton They shall canse the policy no lders OF the
association be notified by publication OF tve con
secntive DAYS in one newspaper pfihiished I'D Ne "
Orleans i'll English one in French, and one III Ger
'A"- ARTICLE X.
Should the earnings of the association exceed tht
sum of fffv thousand dollars in the first class ant
| TWENTY-FIVE thousand dollars in the sac0nd class
the Board of Directors shall have the right to dis
tribute such excess from tune 10 'ilhh 10 tne p9
| association said dividends to be placed to tht
credit of the policy holders, to be EXPENDED IN pay
,nent of future assessments; provided, that III
| member shall be entitled to such DIVIDEND VINO ma
not been a member twelve months preceding th'
day said dividend shall be declared.
ARTICLE XL
NJ ,,.n,hor Of tbis association shall be liable TO
any OF the obligations of the association beyond 'h
sum or sums which may be due the ASSOCIATION "
| virtue OF the assessments aforesald.
| ARTICLE XII.
This act of Incorporation may be altered
amended or the affairs of the association pun I NV.
| liuudaton By vote of majority OF the pong
| holders represented at any general meeting OF ~
policy holders called by the advertisements IN Ia
newspapers aforesaid provided, that mal4 y
of the policy holders not being present at the th
| appointed, another meeting shall be called aite
/. | the lapse of thirty days, and the members the
nresent whatever their number be- shall be EN-