New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-29
C0RP0RATI0NS.
(HARTER.. CHARTER

City OF New orleans.
Be it known that this first day Of August, A. D.
eighteen hundred and seventy, before me, Joseph
COIN, a notary public for this parish aud city Of
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
declare that, awaiting themsevee of an act of the
Legislature Of this State, entitled AN act for the
organization of corporations for works Of public inn
plOvement and utility" approved on the fourteenth
themselves and those whom they represent as well
as those who may hereafter become members to
form body corporate for the objects ana purposes
and under the stipulatlOns following:
ARTICLE I.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Lite Insurance Associa-
ton of New Orleans"
ARTICLE II.
This Corporation shall be located and have its
donicil 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 at time
coed the sum of three hundred thousand dollars.
ARTICLE III. t...,.
The object of this association shall be to contract
for the insurance of life to issue policies for life in
surance and to do ali 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 Ass0
citation shall commence operations, make contracts,
and be sas b Gns
shall have and use a corporate seal
ARTICLE ".
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
appoint; 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,, M. L.
sard Simon Block, s. Leopold, NJ. Stern L. E. Cain,
+. HOllander, Simon haber, Thto Berekson,
Leon Haas, Pierre Klopman, Alexander Shenker, a.
BOnnecaze, NJ. L. Navarro and Leon Godchaux. In
the event of a vacancy in the Board OF Directors,
such vacancy for the remainder Of the term shall
Board of Directors The Board 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 oe
to Tns sha Oh presd
all the meetings of the Board of Directors and at
the meetings of the policy holders of the assoca-
tion and shall conduct the business Of the assOca;
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 bis duties, give bond
Directors for the faithful discharge Of his duties
said bond to be approved by said Board OF Drec.
tors. and which bond may be increased in amount
whenever the Board OF Directors may deem it re.
quisite.
ART1CLEV.
This association shall be composed of two classes
of policy holders each separate and distinct from
the other, and shall he designated as policy holders
of the first class and policy holders OF the sc como
class Females may also become policy holders in
both classes, without the right to vote.
ARTICLE VI.
Every male admitted q member of this assoca.
ton to the class designated the first class, shall
paw into the treasury, between the ages of sixteen
and thirty years tinclusive) the sum Of ten dollars
= If, u,offI irfy yaar and |,
forty years, the sum OF fifteen dollars: over the
age OF forty years and up to the age of fifty years
the OF twenty dollars; over the age OF hfty
years and upto the age Of sixty years, the sum or
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 i've dollars additional over the
previous mentioned rates. and no female shall be
admitted into this class the age OF fifty 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
sixteen 10 thirty-ive wears the OF thirty dol
lars: over rhi,tyfve years aud up 10 nifty years,
the of forty dollars after which age DO per-
shall De admitted into this class. Applicants re.
siding in the city must have resided three fall
wears previous to their Application Females over
forty-tive years shall not be admitted to member.
money when paid, shall entitle the policy holder
of the first class to sum equal TO one dollar for
each enrolled member, and the policy holder OF the
second class equal to five dollars for each
enrolled member payable to lis her legal repre-
sentative or assigns within sixty days 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 tive thousand dollars.
Whenever the number of members shall exceed
five thousand in the first class. and one thousand
III the second class the contribution OF all mem bers
exceeding the above shall be set apart in each class
as separate fund, and the decease of any policy
holder thereafter and as long said contributions
exceed the excess shall be appropriated pro rata
for the purpose of diminishing said contribution
assessments. and said dmnution snail he 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
OF inquest. assessment shall be made upon each
policy holder of the first class III ease saia death
in said class. of sum not to exceed one doi'
lar and twenty-five cents, and on every pohcy
holder of the second class il ease said death occurs
in said class of not TO exceed five dollars and
fifty cents which sums shallSe payable at the office
of the association within thirty days after notlhci
ton. The failure to pay an assessment within the
above stated time shall be forfeiture OF ms or her
policy and the name shall be erased from the hooks
of the association unless good and suflcient feac
sons are 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 Oh the above grounds
shall be debarred of all benefits arising from the
previous subscription but shall not he prevented
from applying for a new policy by a subscription as
new member Al appnea,iGps aor 81 ,r1;ng
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 pol
icy shall anrul said policy.
Applications shall not be received unless accom-
panied with certificate Of respectable physician,
from the associations physician, that the apph
cant is in good health and free from all constltu-
tional or other pulmonary diseases
The association reserves the r1ght TO nave tne
associations physician examine the candidate FOR
admission, and in all cases of examination by him.
he shall be allowed fee OF one dollar, payable py
the applicant. Upon the death of a member, the
Secretary shall Immediately notify the pohcy hoi-
ers and call for the contributions as above speci-
fed Said notification shall be published for hve
newspaper
New Orleans in English, one i'll French ana one ID
German, and such publication Shall be que hotlce
to each policy holder.
ARTICLE VIII
Transfers of policies shall be made upon the book
of the Association only The enrolment books of
the association shall be open to access at all times
to policy holders.
The President shall appoint before the expiration
of the OF the present Board of Directors, three
discreet policy holders who shall be judges Of cleo
association to be notified by publication OF hve con-
sec,Itve days in one newspaper punished III New
Orleans in English, one in French and one III Ter
ARTICLE X.
Should the earnings of the association exceed the
sum Of tty Thousand dollars in the first class and
twenty five thousand dollars i'll the second class,
the Board Directors shall have the right to MS
tribute such excess from time to time to the p0ncy
holders pro rata, dividends on the profits OF the
association said dividends to be placed to the
credit of the policy holders, to be extended in pay
ment of future assessments; proVIded. tnal no
member shall be entitled to such dividend who has
| not been a 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 ths
| sum or sums which may he due the association by
virtue OF the assessments aforesaid.
| ARTICLE XII.
This act of incorporation may be altered OF
amended or the affairs of the association PUT into
liuuidation by vote OF a majority OF the p0llcy
holders represented at any general meeting OF the
NEWSPAPERS as aforesaid: provided. that majority
of tie policy holders not being present at the time
appointed, another meeting shall be called after