New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-27
CORPORATIONS,


eighteen hundred and seventy, before me, Joseph
COIN a 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 ana aPpeaaed Inc
declare that, availing themselyee OF an act OF the
Legislature of this State, entitled AN act for the
organization Of corporations for works Of pubic i'm
provement and utility" approved on the fourteenth
Of March, 1855 they do by these presents bind
themselves, and those whom they represent as wen
form body corporate for the objects and purposes
and under the stipuatiOns following:
ARTICLEI.
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Associa-
ton, OF New Orleans"
ARTICLE II.
This Corporation shall be located and have its
dOmicil in the city of New Orleans. IT shaI! exist
for a term of twenty-five years from the date OF
this charter. All legal process shall be served on
the President or the acting President thereof 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 he to contract
for the insurance of life to issue policies for life in
srance 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 reinsyre. and when the number of sub.
citation shall commence operations make contracts,
sue and be sued, own, purchase, receive by dona;;
ton, sell property, movable and immOyable, and
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 as they may
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 one year from the date of this char
ter: Alexander Marks, A. Elmer Bader, NJ. L.
Block, r. NJ MONTGOMERY, Isaac Levi, Jules Cas-
ssrd Simon Block, s. Leopold, NJ. Stern, L. b. Cain,
F. HOander, Simon Haber, Theo. Berckson,
Leon Haas, Pierre Klopman, Alexander Shlenker, A.
Bonnecaze NJ L. Navarro and Leon Godchaux. In
he "a Board
such vacancy for the remainder OF the term shall
be filed by the election OF another person by the
Board of Directors The Boald of Directors shall,
at their first meeting elect President, wee
President and Treasurer FOR the term they them
secretary, who shall hold his office during good be-
havicr, and such other officers as may De
to Sn he sb Srese
at all the meetings of the Board of Directors and at
the meetings of the policy holders of the assccia
ton and shall conduct the business of the associa
ton generally under the supervision of the Board
OF Directors. The Vice President shall preside at
the meetings aforesaid in the absence OF the Presi
dent and shall perform all the duties devoving on
the President. The Treasurer shall. before enter
ing upon the discharge of his duties, give bond
Directors for the faithful discharge OF his duties,
said bond 10 lie 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 esgnated policy holders
OF the first class and policy holders of the econd
class. Females may also become policy holders III
both classes, without the right to vote.
ARTICLE VI.
Every male admitted member of this associa.
ton the class designated as the hrst class shall
pay into the treasury, between the ages OF sixteen
and thirty years nclusive) the of ten dollars;
over the age of thirty wears and up to the age OF
forty years, the sum OF fifteen dollars; over the
age of forty years and 10 the age OF fifty years
~. Ag1or fnA M
years and upto the age OF sixty years, the sum OF
thirty dollars. No male can be insured after said
ne u first r' class shall nav into the treasury
the sum Of FIVE dollars additional over the
previous mentioned rates, and no female shall be
admitted into this class the age OF fifty years.
ARTICLE VII
Each person admitted member OF the assccia-
tion the class designated as the second class,
shall pay into the treasury between the ages OF
sixteen to thirtyive years, the OF thirty dol
lars over thirty five years and up to fifty years.
the of forty dollars; after which age no per-
son shall he admitted into this class. Applicants
siding in the city must have resided so three full
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 Tor
each enrolled memter, and the policy holder OF the
second class TO sum equal to five dollars for each
enrolled member. payable 10 MS or her legal repre-
| sentative assigns within sixty days after the
receipt OF certified evidence OF death OF the pohcy
holder but in no shall the amount paid on said
policy exceed the sum of FIVE thousand dollars.
Whenever the numb 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 III each class
as separate fund, and on the decease OF any pOiey
holder thereafter and as long SAID cohtrbutoliS
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 pohcy holder 10
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 dealt
occurs in said class OF a not 70 exceed one dol
| lar and twenty-five cents and On every poncy
holder of the second class. i'll case said death occurs
in said class OF not to exceed five dollars and
fifty cents, which sums shall be payable at the ONCE
of the association within thirty days after notfea-
ton. The failure to pay an assessment Wltnn 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 sniiGlent Te;'
| SONS 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 debarred OF all benefits arising from the
previous subscription, but shall not be prevented
from applying for new policy by subscription as
must be made to the Board of Directors in writing,
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 he received unless accom-
panied with certificate Of arespectablephyslclan,
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 al cases OF eSam l oy MN ~,
| the applicant. Upon the death OF memoer, the
Secretary shall Immediately notify the policy hold
ers and call for the contributions as above specl
| fed Said notification shall be published Tor hve
| consecutive days in one newspaper pubiished IN
New Orleans, in English, one in French and one N
| German, and such publication shall be due NOuce
| 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 al tunes
''f'' ARTICLE TX
The President shall appoint before the expiration
of the term the Board OF Directors three
discreet policy holders, who shall be Judges OF cleo
| ton. They shall the policy holders OF the
association to be notified by publication OF I'VE con
| secutive days in newspaper published III Ne"
| Orleans in English, one i'll French and one III oef
| man.
Should the earnings of the association exceed the
sum of fifty thousand dollars in the first class ant
| Twenty-Five thousand dollars in the second class
the Board of Directors shall have the rlsnt 10 Jus
tribute such from time to time to the poncy
| holders pro rata, dividends on the prohts OF I'M
| association said dividends to he placed to th'
credit of the policy holders, 10 be expended IN pay
| ment of future assessments: provided, that M
member shall be entitled to such dividend VINO ma ma
not been member twelve months pfecedlnS LII
day said dividend shall be declared.
| ARTICLE XI.-
No member of this association shall be liable !. 10
any the obligations of the association beyond IN
SUN or sums which may be due the associa'ion y!
| virtue OF the assessments aforesaid
| ARTICLE XII.
| This act of incorporation may be altered
amended, the aHlirs OF the assoclitloii put ~
| luuidation by a vote of majority OF the pong
holders represented at any general meeting ir -,
policy holders called by the advertisements III IN
newspapers as aforesaid provided, that a niaJorIt
| boII NOT heir
| .nuni,ntod nnot her meeting Snal be calteU aIte