New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-30
2OOR10nA yI0N& v



New Orleans, duly commissioned and qualified and
in presence Of the witnesses hereinafter named and
undersigned personally came and appeSISd the
declare that, awaiting themselvee Of an act Of the
Legislature Of this State entitled IAN act for the
provement and utility" approved on the fourteenth
Of March, 1855, they do by these presents bind
themselves, and those whom they represent as wen
form body corporate for the objects and purposes
and under the stipulati0ns following
ARTTCLEI.
The name and style Of this corporation shall be
Cosmopolitan Mutual Aid Life insurance As6Ocla-
ton, Of New Orleans" r
ARTICLE II.
This Corporation shall be located and have its
dOmicil in the city of New Orleans. 1t shall exist
this charter. All legal process shall be served on
the President or the acting President thereof, and
the property of this Association shall at no time ex-
coed the sum Of three hundred thousand dollars.
ARTICLE III.
The object of this association shall he to contract
for the insurance of life policies for life in
sursnce 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
scribers shall reach two hundred and fifty the AssO-
citation shall commence operations, make contracts,
ton, sell property, movable and immOvable, and
shall have and use corporate seal
ARTICLE w.
AL administrative power shall be vested in nine
directors, o
rum and such other officers and clerks they may
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 one year from the date of this char
ter: Alexander Marks, A. Elmer Bader,, NJ. L.
Block r. N Montgomery, Isaac Levi Jules Cas-
sard. Simon Block, s Leopold, N. Stern, L. B. Cain,
F. HOllander, Simon Haber, Thee. Berckson,
Leon Haas, Pierre Klopman, Alexander Shlenker, A.
Bonnecaze, NJ. L. Navarro and Leon GOdchaux. In
the event of o vacancy in the Board OF Directors,
such vacancy for the remainder of the term shall
Board Of Directors The Boald of Directors shall
at their first meeting elect q 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
to e se ss OF preside
at all the meetings Of the Board of Directors and at
the meetings Of the policy holders OF the associs
ton generally, under the supervision of the Board
of Directors. The Vice President shall preside at
dent and shall perform ali the duties deyoving 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 he approved BY said Board Of Direc,
whenever the Board of Directors may deem it re.
quiste
This association shall be composed of two classes
of policy holders, each separate and distinct from
the other and shall be designated 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 associa.
ton to the class designated as the first class shall
pay into the treasury between the ages of sixteen
and thirty years nclusive) the sum of ten dollars
forty years, the sum of fifteen dollars over the
tie sum Of twenty dollars; over the age Of aty
years and up to the age of sixty years, the sum 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, and no female shall be
admitted into this class over the age OF hfty years.
ARTICLE VII.
Each person admitted member of the associa-
ton to the class designated the second class,
shall pay into the treasury, between the ages of
lars; over thirtyfive years and up to fifty years,
the sum 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
years previous to their application Females over
fort y-five 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 sum equal 70 one aonar 10.
second class to sum equal to five dollars for each
enrolled member, payable to his or her legal repre-
sentative assigns within sixty days after the
receipt of certified evidence OF death of the policy
holder but in case 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 all members
exceeding the above shall be set apart i'll each class
as a separate fund, and on the decease OF any policy
holder thereafter and as long as said contributions
exceed, the shall be appropriated pro rata
for the purpose of diminishing said contribution
assessments, and said dinnution shall be the same
for each and every member OF the association On
the notification of the death OF any pOley holder TO
the officers of the association, accompanied with
certificate indorsed by tine attending doctor or jury
of inquest an assessment shall be made upon each
q
in said class of sum not to exceed one dol
lar and twenty-five cents, and on every policy
holder of the second class. in case said death occurs
in said class Of not to exceed five dollars and
fifty cents which sums shall be payable at the office
of the association within thirty days after notnca
ton The failure to pay an assessment within the
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 and sufficient rea.
sons are given. to be decided on by the Board OF
Directors within twenty days thereafter. and the
arrears paid into the treasury. Amy policy holder
who has forfeited his policy on the above grounds
shall be debarred Of all benefits arising nom the
previous substitution but shall not pc pfeten'ea
a new member. ALI applications for membership
must be made to the Board OF Directors in writing,
false statement that shall come to the knowledge
of the Board of Directors after the issue OF the pol
icy shall annul said policy.
panied with certificate Of respectablephys cian.
or from the associations physician, that the apph
cant is in good health, and free from all consttu-
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 be allowed fee of one dollar, payable 6y
the applicant. Upon the death Of a member, the
ers and call for the contributions as above speci
fed Said notification shall be published for hve
New Orleans. in English, one in French. and one in
German, and such publication shall be due nOtlce
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 tunes
f'''' ' ARTICLE TX.
The President shall appoint, before the expiration
of the term of the present Board of Directors three
discreet policy holders who shall be judges of cleo
association to be notified by publication of five
secutive days in one newspaper published IN New
Orleans in English, one in French, and one i'll Ger
'AA-'' ARTICLE X
Shoud 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 such from time to time to the policy
holders pro rata as dividends on 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 NJ.
No member of this association shall be liable for
any the obligations of the association beyond tho
| sum or sums which may be due the association by
| virtue of the assessments aforesaid
ARTICLE XII.
This act Of incorporation may be altered or
amended, the affairs of the association put into
| liquidation, by vote of majority of the policy
holders represented at any general meeting OF the
| policy holders called by the advertisements in the
newspapers as aforesaid; provided, that majority
of the policy holders not being present at the time
appointed, another meeting shall be called a a,
the lapse of thirty days and the members then