New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-20
APPROPRIATIONS.
CHARTER.

u -
STATE OF LOUISIANA
City Of New Orleans. S.
Be it known chat on this first day ofAusust, A. d.
eighteen hundred and seventy, before me, Joseph
New Orleans, duly commissioned and qualified, and
in presence Of the witnesses hereinafter named and
parties whose names are hereto subscribed, who
declare that, Awaiting themselvee OF an act Of the
organization of corporations for works of public irn-
pIoyement and utility" approved on the fourteenth
themselves, ard those whom thew represent. as well
those who mag hereafter become members, to
and under the stipulations following: ft
ARTICLE L.
The name and style of this corporation shall 10,
Cosmopolitan Mutual Aid Life Insurance Associa-
ton, of New Orleans" ~#s
ARTICLE II.
This Corporhtion shall be located and have it's
domcil in the city of New Orleans. 1t shall exist
for a term of twenty-five years from the date Of
This charter All legal process shall be served on
the President br the acting President thereof, and
the property off this Association shall at no time ex
coed the sum Of three hundred thousand dollars.
ARTICLE III. s
The object oFthis association shall be to contract
for the insurance of life to issue policies for fe in
surance 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 reinstire, and when the number OF sub
scrbers shall reach two hundred and fifty the Aseo-
citation shall cbrnmence operations, make contracts,
sue and be sued, own, purchase receive BY dona.
ton, sell PROPERTY, movable and hninovabie, and
shall have anG use corporate seal
ARTICLE w. Y
All administrative power shall be vested in nine
teen directors of whom seven shall form quo
rum, and sucl other officers and clerks they may
appoints the directors shall hold their Office for the
term of 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
Block r. NJ Montgomery, Isaac Levi, Jules Cas-
sard Simon Block, 8 Leopold, NJ. Stern, l.. B. Cain,
Leon Haas Pierre Nopman Alexander shlenker, A.
Bonnecaze, M l.. Navarro and Leon Godchaux. In
the event of q vacancy in the Board OF Directors,
such vacancy for the remainder of the term shall
he filed by tile election of another person by the
Board of Dire tors. The Board of Directors shall,
at their first meeting, elect a President, Vice
President and Treasurer for the term they them
selves have been elected. They shall also elect q
secretary who shall hold his office during good be-
havior, and such other officers may be
necessary to carry on the business q the
ASSOCIATION The President - n shall preside ae
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 Presl
dent and ha aTse s sha 6ep
ing upon the discharge of his duties, give bond
and security for sum designated by said Board OF
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 II re-
| quisite
This association shall be composed of two cassee
the other any shall be designated as policy holders
OF the first class and policy holders OF the second
CLASS. Females may also become policy holders IN
both classes, without the right to VOTE -.
ARTICLE vi.
| Every male admitted member of this ass0cia.
ton the class, designated the first class shall
pay into the treasury between the ages OF sixteen
and thirty years (inclusive the sum OF ten dollars
the age of thirty years and up to the age OF
forty years, the sum of fifteen dollars; over the
years and uI to the age OF sixty years. the sum OF
thirty dollars. No male be insured after said
| the first GLASS shall pay into the treasury
the sum of five dollars additional over the
admitted nto this class over the age OF fifty years.
| ARTICLE VII
Each person admitted member of the associa-
ton to the dlass designated the second class.
shall pay into the treasury, between the ages OF
sixteen to thirty five years, the sum Of thirty dol
lars; over tArty-hve years and up to fifty years,
shall be admitted into this class Applicants
siding in the city must have resided SO three fuli
years preoms 10 TIER aP H n;td ~ Isss
ship of the second class. The aforesaid sums on
money, When paid, shall entitle the policy holder
of the first dlass 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
enrolled member payable to his or her legal repre-
receipt of certified evidence of death of the policy
holder but III no case shall the amount paid on said
policy exceed the sum of five thousand dollars
| Wheneverithe number of members shall exceed
| five thousand in the first class and one thousand
exceeding tile above shall be set apart in each class
as separate fund, and on the decease of any policy
holder Thereafter and as ohg as saa
| for the pnTpose of diminishing said contribution
assessments. and said dimnution shall be the same
for each and every member of the association. Oh
the notification of the death of any policy holder to
the officers Of the association, accompanied with q
certificate Endorsed by the attending doctor, or jury
| of inquest all assessment shall be made uDOn each
policy holder of the first class, in case said death
occurs in said class of a sum not to exceed dol
lar and twenty-five cents, and on every policy
holder of the second class in said death occurs
in said class of sum not to exceed five dollars and
of the association within thirty days after notiica
ton. The failure to pay an assessment within the
policy and the name shall be erased from the books
of the association, unless good and SUFFICIENT rea.
| sons 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 be debarred of all benefits arising from the
| previous subscription. but shall not be prevented
from applying for a new policy by a subscription as
anew member Al appl1cati0ns ior msmDelsnp
| stating name age, residence occupation; and any
false statement that shall come to the knowledge
of the Board of Directors after the issue OF the poi
icy shall annul said policy.
| Applications shall not be received unless accom-.
|
or from the associations physician that the apph
is in gpod health, and free from all constitu
tional or other pulmonary diseases.
The association reserves the right to have the
| associations physician examine the candidate for
admission, and in all cases of examination by him.
he shall he allowed fee of one dollar, payable by
the applicant. Upon the death of member, the
Secretary shall Immediately notify the policy hold
ers, and call for the contributions as above spec-
fed Said hotifcaton shall be published for five
| consecutive days in one newspaper published in
arHa ,Y.ht luh OF ln "A
to each policy holder.
ARTICLE VIII.
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 all times
ARTICLE TX.
The President shall appoint, before the expiration
of the Of the present Board of Directors three
discreet policy holders who shall be judges of elec
| ton. They shall cause the policy olders of the
association to be notified by publication of five
| secutive days in one newspaper published in New
Orleans in English, in French, and one in Ger
| man.
ARTICLE X
Should the earnings of the association exceed the
sum OF fifty Thousand dollars in the first class, and
twenty-five thousand dollars in the second class,
the Board of Directors shall have the right to dis
tribute sucl excess from time to time to the policy
holders pro rata, dividends the profits of the
| association, said dividends to be placed to the
credit of the policy holders, to be expended in pay
ment of future assessments; provided, that no
member shall be entitled to such dividend who has
not been member twelve months preceding the
day said dividend shall be declared
ARTICLE XII
No member of this association shall be liable for
any of the obligations OF the association beyond the
sum or sums which may be due the association by
virtue OF the assessments aforesaid.
ARTICLE XII.
| This act of incarceration may be altered or
amended DIR affairs of the association put INTO