New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-19
CORPORATIONS.



STATE OF LOUISIANA, L..
City Of New Orleans.
Be it known that on this first day of August, A. D.
eiGnteen hundred and seventy, before me, Joseph
Tonh, a notary public for this parish and city q
in presence of the witnesses hereinafter named and
Undersigned personally came and appeared the
parties parties whose names are hereto subscribed, who
declare that awaiting Themselves of an act of the
Legislature Of this State, entitled Fan act for the
organization Of corporations for works of public inn
of March, 1855, they do by these presents bind
themselves, and those whom they represent as wen
form "a body corporate for the objects aud purposes
and under the stipulations following:
ARTICLE I.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance AssOciar
ton, of New Orleans"
ARTICLE H.
This CORPORATION shall be located and have its
donlic in the city of New Orleans. 1t shall exist
this charter. All legal process shall be served OH
the President or the acting President thereof and
the property of this Association shall at no time
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 reinsnre and when the number OF sub
sclbcis shall reach two hundred and nifty the Asso-
citation shall commence operations, make contracts
sue sue; and be sued own, purchase receive ~ dona
shall have and use 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 theylnay
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 year from the date of this char
ter Alexander Marks, A. Elmer Bader, NJ L.
Block, R. Montgomery, Isaac Levi Jules Cas-
I'D St,,,.,,, n.l- TanrN NJ 7 (to
F. Hollander, Simon Haber Theo. Berckson,
Leon Haas, Pierre KlOpman, Alexander Shlenker, A.
Bonnecaze, NJ. L. Navarro and Leon Godchaux. In
the event of vacancy in the Board OF Directors,
such vacancy for the remainder of the term shall
lac hlled by the election Of another person by the
Board Of Directors. The Board OF Directors shall,
at their first meeting, elect q President, Vice
President and Treasurer for the term they them
selves have been elected. They shall also elect q
secretary who shall hold his office during good be-
havior, aud such other officers az may pc
necessary to carry on the business s OF sa ths
all the meetings of the Board of Directors and at
the meetings of the policy holders of the associa-
ton generally, under the supervision Of the board
OF Directors The Vice President shall preside at
dent and shall perform all the duties devolving on
the President The Treasurer shall, before enter
ing upon the discharge of his duties, give bond
and security for sum designated by said Board OF
Directors for the faithful discharge of his duties
said bond to be approved by said Board of Direc-
tors and which bond may be increased in amount
whenever the Board of Directors may deem 1t re-
quisite.
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 the class designated the first class, shall
pay into the treasury, between the ages Of sixteen
over the age OF thirty years and mp to the age Of
forty years, the sum of fifteen dollars; over the
s 1y wsn dors as the ii
years and up to the age Of sixty years. the srin 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 of five dollars additional over the
| previous mentioned rates, and no female shall be
admitted into this class over the age OF NIFTY years.
ARTICLE VII.
Each person admitted a member of the associa-
| ton to the class designated the second class,
shall pay into the treasury, between the ages Of
lars; over thrty-fve years and up to fifty years,
the sum of forty dollars; after which age no per-
sessd % saes
years 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
second class to sum equal to hive dollars for each
enrolled member payable to his OF her legal repre-
sentative or 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
i'll the second class the contribution of all members
exceeding the above shall be set apart in each class
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 diminution 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 q
certificate Endorsed by the attending doctor OF jury
of inquest, assessment shall be made upon each
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 which sums shall be payable at the office
of the association within thirty days after notifca-
ton. The failure to pay an assessment within the
above stated time shall be forfeiture of his 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, aud the
arrears paid into the treasury ANY policy holder
who has forfeited his policy on the above grounds,
shall he debarred of all benefits arising from the
previous subscription. but shall not be prevented
| new member. All applications for membership
be made to the Board of Directors in writing,
false Statement that shall come to the knowledge
the Board of Directors after the issue of the pol
| icy shall annul said policy.
| Applications shall not be received unless accom-
panied with certificate of respectable physician,
or from the associations physician that the apph
cant is in good health, and free from all cOnstitu-
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 a member, the
Secretary shall Immediately notify the policy hold
ers and call for the contributions as above speci-
fed Said notification shall be published for five
| consecutive days in one newspaper published in
! New Orleans. in English, one in French, and 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 expiration
of the term of the present Board of Directors three
discreet policy holders, who shall be judges of elec
ton. They shall cause the policy holders of the
association to be 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
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 excess from time to time to the policy
holders pro rata 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 XII
No member Of this association shall be liable for
any of the obligations of the association the
sum Or sums which may be due the ASSOCIATION by
| virtue of the assessments aforesaid
| ARTICLE XII.
At, pt IA tn