New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-07
CORPORATIONS.
NHARTER- ................... CHARTER.


City OF New Orleans. o.
Be it known that on this first day ofAugust A. D.
eighteen hundred and seventy before me Joseph
Se% Hs soi: city
in presence Of the witnesses hereinafter named and
undersigned, personally came and appeared the
declare that. availing themselvee Of act Of the
Legislature Of this State entitled IAN act for the
provement and utility, approved on the fourteenth
OF March, lsSs, they do by these presents BIND
e those %h snn sSois Sscoms
form body corporate for the objects aud purposes,
a0d under the stipulations following
ARTICLE l.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Associa-
hon. Of New Orleans"
This CORPORATION shall be located and have it's
domlcil in the city Of New Orleans 1t shall exist
for q term of twenty-five years from tho date Of
this charter. All legal process shall be served
the property Of this Association shall at time
oeed the sum Of three hundred thousand dollars.
ARTICLE Ill.
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
insurance in accordance with the terms and pro-
right to reinsnre. and When the number of sub.
seribers shall reach two hundred and fifty the AssO
siation shall commence operations make contracts,
sue and be sued, own purchase receive by dona,
ton. sell property movable and immovable and
ahau have aud o 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 as they may
term OF one year The following persons sha il con.
stitute the first Board of Directors and shall hold
ter Alexander Marks, A Elmer Bader, NJ L.
Block Mo-, Montgomery Isaac Levi Jules Cas-
Simon asSsr i
Leon Haas, Pierre Klopman, Alexander Shlenker, A.
Bonnecaze, II. 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
be filled by the election Of another person by the
Board Of Directors. The Board of Directors shall,
at 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
to sss of tide
1t all the meetings Of the Board Of Directors and at
the meetings Of the policy holders Of the associa
taon 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 It'll gse bond I'd
Directors for the faithful discharge OF his duties
said bond to be approved by said Board Of DireS
whenever the Board Of Directors may deem it re-
Auisite.
This association shall be composed OF TWO classes
Of policy holders, each separate and dstinc; from
the other and shall be designated policy holders
of the first class and policy holders OF the second
GLASS. 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 rs the first class, shall
nav the treasury, between the ages OF sixteen
and thirty years tnclusive), the sum OF ten dollars
ever tie age of thirty years and up to the age Of
40 of forty years and up to the age OF fifty years
Hhe sum 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
s nrss Of five S aoarps pay additional over the
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 associa-
ton TO the class designated rs the second class,
shall pay into the treasury between the ages OF
sixteen TO thirtytve years, the sum OF thirty dol
the sum of forty dollars; after which age no per-
son shall be admitted into this class Applicants re-
years previous to their application. Females over
forty-iive years shall not he admitted to member.
ship of the second class The aforesaid sums OF
of the first class to n equal to one dollar for
each enrolled member, and the policy holder Of the
second class o a equal to five dollars for each
enrolled member payable to his her legal repre-
sentative assigns within sixty days after the
receipt of certified evidence of death of the policy
holder. but in shall the amount paid on said
policy exceed the sum of five thousand dollars.
Wh.ne yer the number of members shall exceed
Eve thousand in the first class and one thousand
in the second class, the contribution OF all members
exceeding the above shall be set apart in each class
as separate fund and on the decease OF any policy
holder thereafter and as long as said contributions
exceed the excess shall be appropriated pro rata
for the purpose of diminishing said contribution
assessments and said dimnution shall be 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
certificate Endorsed 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
in said class Of sum not to exceed one do-
lar ard twenty-five cents, and on every pohcy
holder of the second class in said death occurs
III said class, of not to exceed hve dollars ana
fifty cents which sums shall be payable at the ONCE
of the association within thirty days after notlhca-
ton The failure to pay assessment within the
above stated time shall be forfeiture OF his or her
policy aud 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 pa.d into the treasury. Any policy holder
who has forfeited his policy on the above grounds
shall he debarred Of all dement's arising from me
previous subscription, but shall not be prevented
from applying for new policy by subscription as
new member. All applications for membership
must be made to the Board of Directors in writing,
stating name age residence, occupation; and any
false statement that shall come to the knowledse
the Board of Directors after the issue OF tine pol
icy shall annul said policy.
Applications shall not be received unless accom-.
Sre with Ths that the app
cant is in good health and free from all constitu-
tiOnal or other pulmonary diseases ~,
The association reserves the rght 10 nave tle
association ply scian examine the candidate Tor
admission, and in all cases OF examination ny MN
he shall be allowed o fee of one dollar, payable by
the applicant Upon the death Of a member, the
Secretary shall Immediately notify the policy hold
ers and call for the contributions as above sptcl
fed. Said notification shall be published Tor h!e
consecutive DAYS in one newspaper puDlisshea IN
New Orleans. in English, one in French, ana one III
German, and such publication shall be due notice
to each policy holder.
ARTICLE Will
Transfers of policies shall be made upon the books
of the Association only The enrolment books o.
the association shall be open to access at all time;
TO policy holders.
The President shall appoint before the expiration
of the term Vt the present Board of Directors three
discreet policy holders, who shall be judges OF cleo
lion They shall cause the policy no. ders OF the
association 10 he notified by publication OF hve con
secutye da Us in one newspaper published III NeW
Orleans in English. in French, and one in Ger
man.
Should the earnings Of the association exceed thu
sum of fifty Thousand dollars i'll the first class. ant
tweuty-fi We Thousand dollars in the second class
the Board of Directors shall have the right to dis
tribute such excess from time to time TO the pocN
holders prO rata as dividends on the prohts OF tn
association said dividends to be placed 10 I'M
credit of the policy holders, to be extended IN pay
ment OF future assessments; proIideu tnatt n'
member shall be eRtitl led to such dlfldend WIo ia
NOT been a member twelve months preceding Tn
day said dividend shall be declared.
ARTICLE XII
No member of this association shall be liable 10
anv of the obligations of the association beyond
sum which may he due the assoclation y.
virtue OF the assessments a1OreSalu
ARTICLE XII.
This act Of Incorporation may De alterea
amended the affairs OF the ASSOCIATION put III
liquidation, by vote OF majority OF tne pS. ~,
policy holders called by the advertisements III W