New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-14
CORPORATIONS,


l
Be it known that on this first day Of Augusta D
| eighteen hundred and seventy, before me, Josen,
COhu, notary public for this parish and city al
New Orleans, duly commissioned and qualified and
in presence Of the witnesses hereinafter named and
undersigned, personally came and appeared the
parties whose names are hereto subscribed, who
Legislature Of this State, entitled "An act for the
organization of corporations for works of public I'M.
provement and utility" approved on the fourteenth
of March, 1855, they do by these presents bind
themselves and those whom they represent az weR
those who may hereafter become members to
form body corporate for the objects and purposes
and under the stipulations following:
ARTICLEI
Tho name and style Of this corporation ahail be
Cosmopolitan Mutual Aid Life Insurance Assoeia-
ton, of New Orleans" ---l.
ARTICLE II. s
This Corporation shall be located and have iss
domcil in the city Of New Orleans. 1t shall exist
for term OF twenty-five years from the date Of
this charter. All legal process shall be served on
the property Of this Association shall 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
surance and to do all acts relative to that kind
insurance in accordance with the terms and pro-
visions hereinafter specified. They shall have the
right to reinsure, and when the number of sub-
scribers shall reach two hundred and fifty the AssO-
citation shall commence operations, make Contracts
sue and be sued own, purchase. receive by dona-
shall have and use corporate seal
ARTICLE w.
All administrative power shall be vested In nine
teen directors of whom seven shall form quo.
rum and such other officers and clerks they may
appoints the directors shall hold their office for the
term Of one year The following persons shall con:
Office for one year from the date OF this char
ter Alexander Marks, A. Elmer Bader NJ L.
saT SIMON BoeH stern s
+. Hoi!ander, Simon Haber, Thee. Berckson,
Leon Haas Pierre Klopman, Alexander Shlenker, A.
Bonnecaze, NJ. L. Navarro and Leon Godchaux. Ia
the event Of a vacancy in the Board of Directors,
such vacancy for the remainder of the term shaE
De filed by the election of another person by the
Board of Directors. The Board of Directors Shalt
ut their first meeting, elect 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
The Presi ds sbs OF n sds
at all the meetings of the Board of Directors and at
the meetings OF the policy holders of the assocaa
tion and shall conduct the business of the assocs-
ton generally under the supervision of the Board
of Directors. The Vice President shall preside at
the meetings aforesaid in the absence of the Press
dent, and shall perform all the duties devolyiug on
the President. The Treasurer shall before enfer-
ing upon the discharge. of his duties, give bond
and security Tor a sum designated by said Board of
Directors for the faithful discharge of his duties
said bond to De approved by said Board of Direc-
tors, and which bond may be increased in anouut
whenever the Board Of Directors may deem it re-
q ulsite-
ARTICLE v.
This association shall be composed of two classes
OF policy holders, each separate and distinct from
The other. and shall DE designated policy holders
Of the first class and policy holders Of the second
Class. Females may also become policy holders III
both Glasses, without the right to vote.
ARTICLE VI
Every male admitted member of this assoeia-
ton to the class designated the first class shah
and thirty years inciusiye) the sum OF ten dollars
over the age OF thirty years and up to the age
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; the age of fifty
years and up to the age of sixty years. the SUN OF
hirty dollars. No male can be insured after said
he hrSt class, shall pay into the treasury
she sum OF five dollars additional over the
admitted into this class the age OF fifty years.
ARTICLE VII
Each person admitted member of the associa-
ion TO the class designated the second ciass
shall pay into the treasury. between the ages of
sixteen to thrty-ive years, the of thirty dol
I ar over thirty-,ye years and up to fifty years,
he sum OF forty dollars; after which age no per-
'on shall be admitted into this class. Applicants re-
siding in the city must have resided three full
orty-ve years shall not be admitted TO member
ship of the second class. The aforesaid sums of
money, when paid shall entitle the policy holder
II the flrst class to equal to dollar for
Zach enrolled member and the policy holder of tho
second class TO sum equal to i've dollars Zach
nrolied member payable to his or her legal repre-
sentative or assigns within sixty days after the
eceipt OF certified evidence of death of the policy
loer but in case shall the amount paid on SAID
1o.icy exceed the sum OF five Thousand dollars.
whenever The number of members shall exceed
i've thousand III The first class, and Thousand
Il the second class. the contribution of Ill members
Exceeding the above shall be set apart in each class
Is a separate fund, and on the decease of any pofcy
exceed. the shall be appropriated pro rata
or the purpose of diminishing Said contribution
and said diminution shall be the same
or eich ami every member of the association. On
ne notification OF the death of any policy holder 10
ne officers OF the association, accompanied with
ertlfcate Endorsed by the attending doctor or iury
II inquest, an assessment shall be made upon each
'oiicy holder OF the first class, in case said death
ccurs IN said class OF sum not to exceed one dol
ar ana twenty-five cents, and every policy
oder OF the second class, i'll said death occurs
said class, of sum not to exceed five dollars and
the ASSOCIATION within thirty days after noica-
ION. The failure to pay an assessment within the
oIGy and the name shall be erased from the hooks
'ne association unless good and sufficient rea-
ons are given, to DE decided by the Board of
directors within twenty days thereafter. and the
rrtsrs paid into the treasury. ANY policy holder
no has forfeited his policy on the above grounds
nall be declared of all benefits arising from the
revious subscription but shall not be prevented
ON applying tor a new policy by subscription as
new ,iheinDer. All applications for memberships
iuSt De made to the Board of Directors in writing
'atinS name age, residence, occupation; and any
Use statement that shall come TO the knowledge
tns boara OF Directors after the issue of the pol
y shall annul said policy.
Applications shall not be received unless accom-.
a I With certificate of respectabe.phy
from the assoc cations physician, that the apph-
ant s IN good health. and free from all constitu-
ona! or other pulmonary diseases, -
me ASSOCIATION reserves the right to have the
,sociat'on NhS olcian examine the candidate tor
mission, ard N all cases OF examination by him
+ -Aal! be allowed a tee of one dollar payable BY
re applicant Upon the death of n member the
-cretary shall immediately notify the policy hold
:; anu call Tor the contributions above speei-
20 sa!u notification shall be published for five
'nsccutive days in one newspaper published in
eW Orleans IN English one in French. and one N
rrlnan and such publication shall be due notice +
each policy holder.
ARTICLE VIII
Transfers Of policies shall be made upon the books
the Association only. The enrolment books of
e ASSOCIATION shall be open to access at al times
p0'''S n0iaefS' ARTICLE TX
The President shall appoint before the expiration
the term OF the present Board of Directors three
'creer pohcy holders who shall be judges of cleo
oh. lhcy snail cause the policy holders of the
sotiation 70 be notified by publication of five cor
CC'iNe iaEs IL one newspaper published in New
te'A' III anguish one IL French, aud one in Ger
ARTICLE X.
sAou!d the earnings Of the association exceed the
Ia OF NIFTY Thousand dollars in the first class and
entY hve thousand dollars in the second class
g board OF Directors shall have the right TO dis
lpate such excess from time to time TO the policy
tcrs pro rata, as dividends the profits OF the
soclatlon, said Dividends to be placed 20 the
edit OF the policy l0A1ers, TO be expended in pay
snt OF future aseoAsments; provided that no
m Der shall be entitled 10 sach dividend who has
/ been a member twelve months preceding the
y said dividend shall be declared.
ARTICLE XII
No member OF this association shall be liable for
y OF the Obligations of the association beyond the
m Or sums wnch may be due the association by
,tue OF the assessments aforesaid.
ARTICLE XII.
This act of incorporation may be altered or
lcldtd or the affairs OF the association put into
uidatIon by vote of a majority OF The ooliev
iders represented at any general meeting Of the
cy holders called by tho advertisements in the
,vspapers as aforesaid; provided that a maioritx