New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-15
CORPORATIONS.
CHATTER,

SrArx OF LOUISIANA,
City OF New Orleans. % 4
Be it known that this first DAY of August A. d.
eighteen hundred and seventy, before me- Joseph
| Conn, notary public for this parish and 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 themselvee of an act Oftne
organization Of corporations for works Of public m
proyement and utility" approved on the fourteenth
OF March 1855, they do by these presents bind
themselves and those whom they represent as well
| as those who may hereafter become members, to
form body corporate for the objects and PURPOSES,
! and under the stipulations following:
ARTICLE 1.
The name and style Of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Assotia-
ton OF New Orleans"
ARTICLE H.
This Corporation shall be located and have its
domicil in the city OF New Orleans 1t shall exist
for a term OF twenty-five years from the date OF
this charter. All legal process shall be served
the President or the acting President thereof and
the property OF this Association shall at no time OK
coed the sum OF three hundred thousand dollars
ARTICLE III.
The object this association shall be to contract
for the insurance of life to issue policies for life in
stirance 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 reinstre, and when the number of sub
scr5ers shall reach two hundred and fifty the Asbo-
citation shall commence operations make cOntracts
sue and be sued own, purchase. receive by doiAa-
ton, sell property, movable and immovable, and
shall Lave and use a corporate seal
ARTICLE Nv.
A.. administrative power shall be vested in min e
teen directors of whom seven shall form Il quo
ram. and such other officers and clerks they mhy
appoint the directors shall hold their office for the
term of one year The following persons shall con
stltute the first Board of Directors and shall hd,d
ter Alexander Marks 0a Eer '1 Baden ed NJ E.
Block R. Montgomery, Isaac Levi, jules Cts-
sara SIMON Block, ). Leopold. NJ Stern L. b. Cain,
+. Enl!anipr. Simon Haber Rprc ts.Iu
Leon Haas, Pierre Klopman, Alexander Shlenker, Ia.
Bonnrcaze, VI. l.. Narara and Leon Godclaux. I'm
the event oi vacancy in the Board of DirectoEs.
such vacancy for the remainder of the term shall
be filed by the election of another person by the
at their first meeting, elect President, Vie
President and a Treasurer for the term they them
secretary. who shall hold his office during good BE-
hayior, and such other officers as may be
The P n sha OF ore1 a.
all the meetings of the Board of Directors and ut
tas ad s POLICY t hoaes of of the ssos
of Directors. The Vice President shall preside At
the meetings aforesaid in the absence of the Pre4i
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 designated by said Board bf
Directors for the faithful discharge of his duties
tors and which bond may be increased in amount
whichever the Board of Directors may deem 1t RI
qU.site-
THY association shall be composed of two classds
OF policy holders, each separate and distinct from
the other and shall be designated policy holdess
OF the hrst 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 a member of this associd-
io; 20 the class, designated as the first class shall
pay into the treasury between the ages OF sixteen
and thirty years tincusive) the OF ten dollars;
over the age of thirty years and up to the age Of
forty years. the OF fifteen dollars; over the
age OF forty and up to the age of fifty ~yeart
the sum OF twenty dollars the age of fittE
years and up to the age of sixty years, the sum DR.
thirty dollars. No male can be insured after said
tie ns class shall pa ema into "d the qa1
the sum OF five dollars additional over thu
precious mentioned rates, and no female shall lie
admitted INTO this class over the age of fifty year4
ARTICLE VII.
Each person admitted member of the associa.
ton to the class designated the second cas$,
shall pay into the treasury, between the ages Of
sixteen 10 thlrty-hve years, the of thirty dol
lars over thirty-tive years and up to fifty wears,
the sum or forty dollars after which age no per-
son shall be admitted into this class Applicants
siding in the city must have resided SO three futt
years previous to their application. Females oveE
tortylvt years shall not be admitted to nembeI
ship OF the second class. The aforesaid Of
money. when paid shall entitle the policy holder
of the nrst class TO a equal to one dollar tor
each enrolled member, and the policy holder OF THE
enrolled member. payable to his or her lesabreprd
sentative or assigns within sixty days after the
receipt OF certified evidence OF death of the polcr
lodcr Dut IN no case shall the amount paid SAID
policy exceed the sum of five thousand dollars.
Whenever the number of members shall exceed
III the second class the contribution of all members
exceeding the above shall be set apart in each class
as a separate fund and on the decease OF any policy
holder thereafter, and as long said contributions
so exceed the excess shall be appropriated pro rat
for the purpose of diminishing said contribution
assessments. and said diminution shall be the same
Tor each and every member of the association. On
the Notification of the death of any policy holder 10
the officers OF the association, accompanied with
cerihcate lndorsed by the attending doctor jury
OF inquest, an assessment shall be made upon each
f)ollcE holder OF the first class, i'll said death
occurs III sad class. OF sum not 10 exceed one dol
lar and twenty-five cents and on every policy
holder Of the second class, in said death occurs
in said class of sum not to exceed five dollars and
NIFTY cents which sums shall be payable at the office
Of the association within thirty DAYS after notitca-
ton The failure to pay assessment within thu
ABOVE stated time shall be forfeiture of his her
lolGy and the name shall be erased from the books
Oh the association, unless good and sufficient reS-
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 declared of all benefits arising from the
previous subscription, but shall not be prevented
from applying Tor new policy by subscription
d new member All applications for membership
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 annul said policy.
Applications shall not be received unless accom-
panied with certificate OF respectable ply stefan,
or from the associations physician, that the appl5
cant IS in good health. and free from all constit
tIona. 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 Il member, the
Secretary shall immediately notify the policy hold
-ro, and call for the contributions as above speet-
lied. Said notification shall be published for i've
consecutive days III one newspaper published in
New Orleans, in English one iii French, and in
German, and such publication shall be due notice
10 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
Df the term of the present Board of Directors three
discreet policy holders, who shall be Judges OF elet-
ton. They shall cause the policy no liers OF tie
association 10 be notified by publication of five com
3eCutivt DAYS in one newspaper published in New
Orleans IL English, one in French, and one in Ger
ndl.
ARTICLE x
Should the earnings of the association exceed tie
sum Of fifty thousand dollars in the first class and
went live Thousand dollars in the second class
he Board of Directors shall have the right to dis
rlout, such excess from time TO time the policy
lo.dcrs pro rata as dividends the profits tie
,-SocIatlon, said dividends to be placed the
'rtt OF the policy holders, to be expended in paf
neAt OF future assessments; provided, that NO
member shall be entitled to such dividend who has
lot oeeA a member twelve months preceding the
lay said div idend shall be declared.
ARTICLE II.
No member of this associations shall be liable fdr
ny OF the obligations of the association beyond tile
lm or sums which may he due the association hy
'trtuc oi the assessments aforesaid.
ARTICLE XII.
This act of incorporation be altered DIR
nrnde,i, or the affairs OF the association put into
tqEiu ltlOn, D5 vote of majority OF the pOIidy