New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-25
CORPORATIONS.

.
Be it known that on this first day Of August A. D.
eighteen hundred and seventy, before me, Joseph
Cohn q notary public for this parish and city Of
in presence Of the witnesses hereinafter named and
undersigned, personally came and appeared the
parties whose names are hereto subscribed, VINO
declare that awaiting Themselves OF an act Of the
Legislature of this State, entitled An act for the
organization Of corporations for works Of public inn
Of March. 1855, they do by these presents bind
themselves. and those " hOm they represent. as well
those who may hereafte: become members, to
form body corporate for the objects and purposes
and under the stipulatiOns following:
ARTICLE
The name and style of this corporation shall be
Cosmopolitan Mutual Aid Life Insurance Associa-
tiCn, Of New Orleans"
ARTICLE II.
This Corporation shall be located and have ts
dOmicil in the city Of New Orleans. 1t shall exist
for term OF twenty-five years from the date OF
this charter. All legal process shall be served Oh
the President 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.
surance, and to do all acts relative to that kind Of
insurance i'll accordance with the terms and pro-
visions hereinafter specified. They shall have the
right to rensure, and when the number of sub
scribers shall reach two hundred and fifty the AssO-
and be sued, own, purchase, receive by dona,
ton sell property, movable and immOvable, 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
term of one year The following persons shall con.
sttute the first Board of Directors and shall hold
office for one year from the date p OF tins char
Block, K. VI Montgomery Isaac Levi, jules Cas-
sard, Simon Block s. Leopold, NJ Stern L. B. Cain,
F. Hollander, Simon Haber, TheO. BcrcksOn,
Leon Haas, Pierre Klopman Alexander Shlenker, A.
Bonnecaze, ". L. Navarro and Leon Godchaux IN
the event of vacancy in the Board OF directors;
such vacancy for the remainder of the term shall
he filled by the election of another person by the
Board of Directors. The Board of Directors shall,
President and a Treasurer FOR the term they them
selves have been elected. They shall also elect a
secretary, who shall hold his office during good be.
association 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
Of Directors The Vice President shall preside at
the meetings aforesaid in the absence OF the Presi-
dent, and shall perform all the duties devolvin. 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 Drec-
tors, ard which bond may he 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 as policy holders
OF the first class and policy holders OF the sc cond
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 Is the first class shall
pay into the treasury between the ages of sixteen
and thirty years (ncfsive), the sum Of ten dollars
over the age of thirty years and up to the age OF
forty vnarG n fifteen dollars:
age of forty years and TO the age OF nifty years
| the 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
the the s n' Of Safs five COLLARS 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 associa-
tion to the class designated as the second class,
| shall pay into the treasury between the ages OF
sixteen 10 thirty five years, the sum OF thirty dol
lars: over thIty-fve years and up TO fifty years.
the sum of forty dollars after which age no per-
shall he admitted into this class Applicants re,
siding in the city must have resided SO three ful
| years previous to their application. Females over
fort y-tve years shall not be- admitted TO member
| ship of the second class The aforesaid sums of
money. when paid. shall enttle the policy holder
of the first class to sum equal to one dollar ior
each enrolled member, and the policy holder OF the
second class to sum equal 10 nve collars lor e'.ch
enrolled member, payable to his or her legal repre-
| sentative or assigns within sixty DAYS after the
receipt of certified evidence Of death Of the policy
holder bat III 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
in the second class the contribution OF al mem hers
exceeding the above shall be set apart IN each class
a 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
| Tor 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 pocy holder 10
the officers Of the association, accompanied Win
certificate Endorsed by the attending doctor or Jury
of nuCest al, assessment shall he made upon each
policy holder of the first class. i'll case s;lld death
occurs in said class of sam not 70 exceed one dol
| lar and twenty-five cents and on every rohcy
holder of the second class. il: case said death occurs
in said class of sum not to exceed nve dollars ana
| ffty cents which shall be payable at the office
Ut the association within thirty days after nothca-
ton. The failure to pay an assessm ent WITHIN the
above stated time shall be forfeiture OF his or her
| policy and the name shall he erased from the books
Of the ASSOCIATION, unless good and s.ifhclent re
sons are given, to be decided on by the boaId OF
arrears paid into the treasury ANY po!lcy hoider
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
| n new member All applications for membership
must be made to the Board OF Directors in writing,
stating name. age, residence occupati on and any
false statement that shall come to the knowledge
of the Board OF Directors after the issue OF the poi
| lev shall anuul said policy.
! Applications shall not he received unless accom-
|
or from the associations physician, that the appli
cant is in good health, and free froin all cOnsttu'
| tonal or other pulmonary diseases
| The association reserves the right TO nave inc
associations ply stefan examine the candidate for
admission, and in all cases of examination by him,
he shall be allowed fee of 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 spec,
| consecutive days in one newspaper pnb1shed IN
New Orleans, in English, one i'll French, and one IN
| German, and such publication shall pe due hotlco
! 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 tunes
ARTICLE IX.
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 eee
| ton. They shall cause the policy holders OF the
association to be notified by publication OF hve con
| secutive days in newspaper published III New
Orleans in English, one in French, and one III Ger
ARTICLE X
| Should the earnings Of the association exceed the
sum CT fifty Thousand dollars i'll the first class aliC
| twenty-five Thousand dollars in the second class
| the Board of Directors shall have the right TO dls
tribute such from time to time to the poilcy
| holders pro rata, dividends on the rohts OF ths
| association said dividends TO be placed to the
credit OF the policy holders to be eSpehdea IN pay
ment Of future assessments; provided; that nt
member shall be entitled to such tlvidciid VINO III:
| not been n member twelve months preceding TIT
DAY said dividend shall be declared.
ARTICLE NJ.
No member of this association shall be liable io
any the obligations of the association beyond tl'
sum or sums winch may be due the association ~
virtue OF the assessments aforesaid.
ARTICLE XII.
This act of Incorporation may be altered o.
amended or the affairs of The association put ini'
liquidation by "a vote of Il majority OF the pohcl
holders represented at any general meeting 81 ,h'
policy holders called by the advertisements IL si'
newspaper 10 aforesaid; provided. that iia]otlt,