New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-17
CORPOR ATIONS.
STATE OF LOUISIANA


QUARTER. ;. CHATTER.
STATE OF LOUISIANA
City OF New Orleans. 90
Be it known that on this first day Of August A. d.
eighteen hundred and seventy, before ME, Joseph
Cohn, notary public forsthis parish and city q
New Orleans, duly commissioned and qua4ified, an
III presence OF the witnesses hereinafter named and
undersigned, personally came and appeared the
parties whose names are hereto subscribed, who
declare that, awaiting themselvee of an act Of the
Legislature of this State, entitled IAN act for the
organization of corporate for works of public inn
of March, 1855, they do by these presents bind
themselves, and those whom they represent we'll
as those who may hereafter become members, to
form body corporate for the objects and purposes
and under the stipulatiOns following:
ARTICLE /.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Associal
ton, of New Orleans
ARTICLE n.
This Corporation shall be located and have its
domicH in the city of New Orleans. 1t shall exist
for term of %endyve years h irT H. IN. ser Gass e
the President the acting President Thereon, 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 be to contract
for the insurance of life to issue policies for life IN
surance and TO do all acts relative to that kind OF
visions hereinafter specified. They shall have the
right to reinsure, and when the number OF SUD-
ScrlDerS shall reach TWO hundred ana HILy Tie ASSe>
citation shall commence operations, make contracts.
sue and be sued, own. purchase. receive BY dona.
ton, sell property, movable and imn0yablc, and
shall have and use corporate seal.
ARTICLE ".
All administrative power shall be vested III nine
teen directors, of whom seven shan form . Quo-
rum and such other officers and clerks as theymay
appoint; 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 veal, from the date OF this char
ter Alexander Marks A. Elmer Bader, N. L.
Block, R. Montgomery, Isaac Levi, Jules Cas-
F. f'f Ho i '' Simon Haber Thee Berckson.
Leon Haas, Pierre Kldpman, Alexander Shlenker, A.
Bonnecaze, NJ. l.. Nav ara and Leon Godchaux In
the event of vacancy in the Board of Directors,
such vacancy for the remainder OF the term shall
be filled by the election Of another person by tho
at their first meeting elect a President. Vice
President and Treasurer for the term they them
wo hold his Office during good be-
havior, and such other 90. officers .;, as may pc
to on fs sa OF nres i1s
at all the meetings OF the Board of Directors and at
the meetings of the policy holders Of the associa-
ton and shall conduct the business of the assoca-
ton generally, under the supervision Of the Board
OF Directors The Vice President shall preside az
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 sail Board OF
Directors for the faithful discharge of his dntes
said bond to be approved by said Board Of DiTee.
| whenever the Board of Directors may deem It re-
quiste.
This association hall be composed of two classes
Of policy holders, e4ch separate and distinct from
the other and shall be designated as policy holders
9th first class ana policy holders Of the eo1d
both classes, without the right to vote.
ARTICLE VI
| Every male admitted member of this associa.
ton to the class, designated rs the first GLASS; shall
into hat fl,a
and thirty years (inEiusive) the sum OF ten dollars
the age of thirt ~ years and up to the age of
age of forty years aid to the age Of fifty years
| the OF twenty dollars; over the age Of fifty
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 my
previous mentioned rates, and no female shall be
admitted into this class over the age of fifty years.
ARTICLE VII.
Each person admitted member of the ass0cia-
ton to the class designated as the second class
| shall pay into the treasury between the ages OF
sixteen to thirty years, the of thirty dol
the sum Of forty dollars; after which age no per
shall be admitted into this class Applicants re,
siding in the city must have resided three fun
| years previous to their application. Females over
torty-tve years shall not be admitted to member
s OF 11e d thor nocy
of the first class to sum equal to one dollar for
each enrolled mem ber and the policy holder of the
d
enrolled member Iayabfe 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 no 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
i'll the second class the contribution OF all members
exceeding the above shall be set apart in each class
as a separate fund, and the decease of any policy
holder thereafter, and long said contributions
exceed the EXCESS shall be appropriated pro rata
| for the purpose OF diminishing said contribution
a IN
| for each and every member Of the association. On
the notification of the death of any policy hodertO
the officers of the association accompanied with
certificate indorseh by the attending doctor, or jury
of inquest an assessment shall be made upon each
policy holder of the first class in case said death
occurs in said class. of not to exceed one dol
| lar and twenty-five cents, and on every policy
holder OF the second class i'll case said death occurs
fifty cents which sums shall be payable at the office
of the association within thirty days after nOtifca
above stated time shall be forfeiture Of his or her
policy and the name shall be erased from the books
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 on the above grounds
shall be debarret of all benefits arising from the
previous subscription, but shall not be prevented
new member. An 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.
Applications shall not be received unless accom-
panied with q certificate of ephysicans
or from the associations physician, that the apph
cant is in good Health and free from all c0nstitu
| 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 BY
the applicant, Upon the death Of q member, the
Secretary shall Immediately notify the policy hold
and call for the contributions as above spec-
fed Said mobilization shall be published for i've
consecutive day4 in one newspaper published III
New Orleans in English, in French, and one in
German and such publication shall be due notice
| 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 ex piration
of the term of the present Board of Directors three
discreet policy holders who shall be judges of cleo
ton. They shall cause the policy holders of the
association to bg notified by publication of five con
secutive days in one newspaper published in New
Orleans in English, one in French, and one in Ger
man.
Should the earnings of the association exceed the
sum of fifty Thousand dollars i'll the first class, and
twenty-five Thousand dollars i'll the second class
the Board of Directors shall have the right to dis
tribute such 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 tile po icy holders to be expended in pay
member shall b. entitled to such dividend who has
not been member twelve months preceding the
day said dividend shall ID elared.
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.