New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-24
CORPORATIONS,
CHATTER,
- - - I


~>rcnro>o-<~~~l~~.>~c~
.EHARTER. .....................C CHARTER.
s' cisy q q i New o,i..n. s.. &
BE II known thst on this first Day ofAugust, 4. ..
eighteen hundred and seventy, before me, yosepn
New Orleans, duly comnliasioned and quali6ed, and
in presence Of the witnesses hereinafter nansd and
parties whose names are hereto subscribed, who
declare that, awaiting themselv0e Of an set OF the
81 ~ Il
q March. less they q y, these presents bind
as those who may hereafter become members, -
form body corporate for the objects and purposes,
and under the stipulatiOns following:
ARTTCLR l.
The name and style q this corporation ehall DO
Cosmopolitan Mutual Aid Life Insurance Associa-
ton Of New Orleans"
ARTICLE II.
This Corporation shall Be located and have it,
for a 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.
The object Of this association shan be to contract
for the insurance Of fe to issue policies cr me m
insurance in accordance with the terms and pro
visions hereinafter specified. They shall have tho
scrbers shall reach two hundred and fifty the As.s
citation shall commence operations, make coutraeIss
sue and be sued 81 and
shall have and use a corporate seal.
ARTICLE Nv.
All administrative power shall b. vested IN nine
teen directors, of whom seven shall FERN u quo
rum and such other officers and clerks as they may
appoint the directors shall hold their Office for the
stitute the first Board Of Directors, and shall hold
Office for one year from the date OF THIS cnaT-
ter: Alexander Marks Elmer . Bader ,s CAL y.
sard, Simon Block :. Leopold. N. Stern, L. b. Cain,
F. Hollander, Simon Haber, Theo, Bercksono,
Bonnecaze NJ L. Navarro and Leon Godcllaux. In
the event Of vacancy ia the Board Of Directors,
M br IKE s0e election Of smother By the
Board of Directors. The Board Of Directors shall
at their first meeting, elect PIes'dent ., wee
Secretary, who shall hold his Office during good be-
hsvr and such other t Scs s".n q. the
association The President shall preside
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 associa
ton generally under the supervision Of the Board
the meetings aforesaid in the absence Of the Presi-
dent and shall perform all the duties devolving on
inc upon the discharge Of his duties give bond
and security for sum designated by said board OF
Directors for the faithful discharge of his dnties
tors, anG which n bond may Be- increased in amount
whenever the Board Of Directors may deem II no
quisite. ~
This association shall be composed Of two classes
of policy holders each separate and distinct from
the other, and shall be designated Is policy holders
class. Females may also become policy holders in
both classes, without the right to vote.
ARTICLE vi.
Every male admitted member Of this associa-
~xAx1Au AeufA ala
nav into the treasury, between the ages Of sixteen
and thirty years inclusive the sum Of ten dollars
the Of thirty sna to the sSe
tie sum OF twenty dollars; over the age Of fifty
Srty aoals No male s. after
| age Of sixty years; every female admitted INTO
tine s nrss Of five dollars additional over
! previous mentioned rates, and no female shall %
admitted into this class over the age Of hfty years
ARTICLE VII.
Each person admitted q member Of the associa-
ton to the class designated as the second class,
! shall pay into the treasury, between the ages OF
sixteen to thirty five years. the sum Of thirty dol
the sum Of forty dollars after which nge no per-
son shall be admitted into this class: Applicants re.
years. previous 70 their application Females over
forty-tive years shall not be admitted to MEMBER
ship of the second class The aforesaid sumo L q
each enrolled member, and the policy holder of the
second class to equal to i've dollars for each
enrolled member, payable his her legal repre-
| sentative or assigns within sixty days arter inc
receipt of certified evidence OF death Of the poncy
holder but in 10 case shall the amOuntpAid on said
| policy exceed the sum Of five thousand dollars.
| Whenever the number Of members shall excee6
in the second class. the contribution otau mem 6era
exceeding the above shall be set apart ~ each CLASS
separate fund ana on the ga o.
SO exceed the shall be appropriated Pro rata
for the purpose of diminishing said contribution
for each and every member Of the association. On
the notification Of the death Of any policy hulder to
the officers of tho association, accompanied with
certificate ndorsed by the attending doctor, 6r jury
of inquest, assessment shall be made upon each
policy holder of the first class in case said death
occurs in said class, of sum not to exceed one DOL
| lar and twenty-five cents, and on every poncy
holder of the second Glass; in said death occurs
ffty cents which sums shall he payable ut the Office
of the association within thirty days after notihca
The i i to f an q S On Sss
policy and the shall be erased from tn6 bo0ka
Of the ASSOCIATION, unless good and sufiSetnt res
Directors within twenty days thereafter, and The
| arrears paid into the treasury. ANY pofsy nodea
bis pSis as ARISING
| previous subscription, but shall not 6e pftvensoo
from applying for new policy BY . subscription =
must be made to the Board Of Directors in writing
stating name, age, residence occupation; and any
statement
Of the Board Of Directors after the issue of the pol
icy shall annul said policy. -
Applications shall not be received unless
panied with certificate Of = Isspecta ape
cant is in good health, and ffce from al cdnsIsn
tional or otier pulmonary diseases.
The association reserves the riens 70 nsse tns
admission, and in oil cnses OF examination Dy MIN
he shall be allowed fee Of one dollar, payable by
see1 apss shall in%edists ao. The policy hoi
ers and call for the contributions 40 above sPeca
fed Said notification shall be published Tor nvs
consecutive days in one newspaper puphshed v
New Orleans in English, one in French, and one II
| German and such publication shall be due notice
| to each policy holder.
ARTICLE VIII.
Transfers of policies shall be made upon the book.
| of the Association only. The enrolment books o
the association shall be open to access at all times
The President shall appoint before the expiration
of the term Of the present Board Of Directors thre
ton. They shall cause the policy holders of tn
association to be notified by publication OF tive con
secutive days in one newspaper published i'll New
Orleans in English, one in French, and one in Ger
man.
Should the earnings Of the association exceed tn
sum of fifty Thousand dollars in the first class, Na
twenty-five Observation-Disclosures in the secoad class
tribute such excess from time to time to the polio,
holders pro rata, dividends on the profits OF tn
association, said dividends to be placed TO thu
credit of the policy holders to be expended in pay
| ment of future assessments provided, that IN
| member shall be entitled to such dividend who ha
| not been member twelve months preceding tn
| day said dividend shall be declared
ARTICLE XII.
No member OF this associations shall be liable TO
any OF the obligations of the association beyond TIN
| sum which may be due the association b,