New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-01
CORPORATIONS.
(VHARTER........... ............ CHARTER.

Re Il known that on this first day of August A. D.
| eighteen hundred and seventy before me, Joseph
| 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 availing themselvee of an act OF the
Legislature of this State entitled An act Tor the
ORGANIZATION of corpora tons for works of public i'm
provement and utility, approved on the fourteenil
themselves and those whom they represent, well
| as those who may hereafter become members, 10
form body corporate Tor me 0elscts ana purposes
| and under the stipulatlons following =
! ARTICLE
The name and style OF this corporation shall he
| Cosmopolitan Mutual Aid Life Insurance Associa-
| ton, of New Orleans.
| ARTICLE H.
This Corporation shall be located and have its
doricil in the city of New Orleans. II shan exist
| for q term Of twenty-five years froi the cate OF
| the President or the acting President thereof and
the property Of this Association shall at no TINE e2
| coed the sum Of three hundred thousand DOLLARS
| ARTICLE III.
The object of this association shall he contract
for the insurance of life, to issue policies tor lie IN
s,rance 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 reinsure, and when the number OF sub
scrbers shall reach two hundred and fifty the Asso-
citation shall commence operations, make contracts,
| ton. sell property, movable and lnilnovable and
| shall have and use 4 corporate seal
| ARTICLE ".
| All administrative power shall be vested in nine
teen directors Of whom seven snail ioTh quo
appoint; the directors al hold their Office f1c the
term OF one year The following persons so" s Goh
office for year from the date OF TINS char
ter: Alexander Marks, A. Elmer Bader NJ L.
sard simon Block, s. Leopoll, II. Stern, L. b CAIN,
F. Iioilander, Simon Iiaoer, Tlieo. Berckson,
Leon Haas Pierre KlOpman. Alexander Sllenker, =.
Bonnecaze NJ L. Navarro and Leon Godehaux. In
the event CT % vacancy in the Boarl of Directors;
| such vacancy for the remainder OF tie term snail
be filled by the election Of another person by the
Board of directors. The BoaId of Directors snail,
Pre- sdent and Treasurer for the they them
| selves have been elected. They shall also elect a
secretary, who shall hold his office during good be,
havior, and such other officers as may nc
a assssus ~ The President SHAH preside
a. 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 assocla,
ton generally, under the supervision OF the Board
| of Directors The Vice President shall preside at
the meetings aforesaid in the absence OF the Pres
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 st,d bGard o.
said bond to he approved by said Board of Direc-
tors, and which bond may be increased IN amount
| whenever the Board OF Directors may deem II re-
| quisite. nr,c,ry
This association shall be composed of two classes
of policy holders each separate ana a;dlnG, lIo,n
rt class and policy holders o. the seeoHa
| class Females may also become F"lcy hoidets III
both classes, without the right 10 vote.
ARTICLE VI.
Every male admitted member of this assoca;
ton to the class, designated as the first class, shall
nav into the treasury between the ages of sixteen
and thirty wears (inclusve) the sum OF ten dollars
the age of thirty wears and up to the age o.
forty yeaIssthe sum OF hiteen uo,s over ca ,ne
y the sum OF twenty dollars over the age OF nifty
/ years and to the age of sixty years ihe sum o
4 10, af,.. bc red
5, age OF sixty wears; every female admitted INTO
\ the first class shall pay into ne treasury my
previous mentioned rates, and no female shal nt
admitted into this class over the age OF Ely years
ARTICLE VII.
Each rerson admitted member of the associa
| tion to the class designated as the second class
J, shall pay into the treasury, between ne ages
sixteen to thirtyfve years the sum OF thirty 90.
lars over thrty-tiye years and Up 10 MY years
tie sum OF iuitv dollars after which age no per
son shall be admitted into this class Applicants re
siding in the city must lave resided ST. three inI
wears previous 10 their application. Females oTe
Iorty-tve years shall not be admitted 70 menber
ship OF the second class. The aforesaid sums
money when paid. shall entiTle the policy hode
OF the FIST class 10 sum equal 10 one ao!lar 10
each enrolled nienter, ana me ni.cS Ho.oei " i
second class 10 a sula equal to i've do4Sfs of eac
enrolled member, payable to his or her egai rep
sentative or assigns within sixty days AFTER IN
RECENT OF certified evidence OF death OF the pollc
holder but in shall the amount l'1ltl on sane
policy exceed the sum OF five thousand dollars.
Whenever the number OF members slaL4 eNcee
five Thousand in the first class and one thousan
in the second class. the contribution OF all member
exceeding the above shah he SET apart III eaeh Gas
ID as a separate fund and the Ceceasc u any POKE
holder thereafter, and as long as sait cont Intuition
so Exceed the excess shall be appropriated rro rat
far the p,rpos. OF diminishing said conTrlbuilo
assessments and said diinnttion snail e the salll
for Zach end every member OF the association. O
the notification OF the death of any poicv holder I
the officers Of the association, accompanied win
&c certificate Endorsed by the atten'ing doctor or M
of INQUEST an sneIlt snail be MADE upon cue
policy holder OF tie first class, III case saiu uei
occurs i'll said class. OF sum not 20 exceed one 90
iy-,. cents
holder of the second class i'll case SAID deIn occur
We in said class of not to exceed tiTe collars an
fifty cents. which sums shall be payable AT inc one
the association within Thirty days &tttf nor
ton. The failure to pay an assessment wi;nin ~
above stated time shall be forfeiture OF ms OF II.
policy and the name shall be erased from the book
~ OF the association unless good and sngiehl Tei
sons are given, to be decided on py the bo.Io
Directors within twenty days thereafter; and tn
arrears paid into the treasury. ANY policy hotlt
shall be debarred Of all benefits arising froin "a
previous subscription, but shan not 9e p!tVehle
from applying for a ne policy 10y suoscl .lo OH
| a new member. All applicaioIis ior me!hoelsii'
ID must be made the Board OF Directors III writing
stating name, age, residence, occupation; anu an
false statement that shall come to the kno""ds
of the Board of Directors after the issue OF the po
icy shall annul said policy 1900
Applications shall not be received unless accom-
panied with certificate of respectable PHYSICAL
or from the associations ply slcali tray me arp
cant is in good health, and free from az cohstlt
a tiOnal or other pulmonary diseases 4,
D. The association reserves the right 10 nave u u
associations physician examine tie can.lGa.e IL IL
admission and i'll all cases of examination ny mn
. he shall be allowed fee Of one dollar payabie !
the applicant. Upon the death OF member, u
Secretary shall Immediately notify the poHcy L!oi
ers and call for the contributions as above spec
fed Said notification shall be published for n,
consecutive days in newspaper publslied
81. New Orleans in English, one in French. ana one
German. and such publication shall Dc que Ao'A'
to each policy holder.
- ARTICLE VIII.
Transfers of policies shall be made upon the bool
of the Association only. The enrolment DoohS
RR the association shall Inc open to access at all I'M
~ ARTICLE TX.
The President shall appoint. before the expirati'
of the term of the present Board OF directors tiI
discreet policy holders who shall he Judges OF elt
J. ton. They shall cause the policy hoiuels OF
association he notified by publication OF hve CO
sccutive DAYS in newspaper pubiished Ill "
Orleans i'll English, one i'll French, ana one III UT
'"'' ARTICLE Y.
Should the earnings of the association exceed
IL sum Of fifty thousand dollars III the hrst ciass a
twenty-five thousand dollars in the second ella
the Board of Directors shall have the right TO q
tribute such excess from time to time 10 the poll
holders pro rata. as dividends on the prohts OF |
Ms association, said dividends 10 be paced 10
act credit of the policy holders, to be expended III pa
meDt of future assessments; provided, mat
member shall be entitled 70 such dividend VINO ,
not been member twelve months preceding
ply. tiay said dividend shall be declared.
out ARTICLE II.
~ No member of this association shall be liable
. anv of the obligations OF the association tSyond
sum OF sums which may be due the ASSOCIATION
virtue of the assessments aforesaid
ARTICLE Nj.
Ss This act of incorporation may he altered
~" amended the a,Ilrs OF tie associ'i Ton put u
liouida ton bv IL vote of majority OF the POI
holders represented al any general meetlng ol
and policy holders called b. the advertisements III
ing newspapers aturesaid provided that a 'iJ4i