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AN ACT creating a board of bank commissioners, and prescribing their duties and powers. (Approved March 30, 1878; Cal. Stats. 1877–78, p. 740.) * * * * * * * # +
SECTION 8. No savings bank shall receive the license in this act provided for, unless at least fifty per cent. of all its loans shall be secured by first mortgage, or other prior lien, upon real estate situate within this state; such loans, at the date when made, hereafter, not to exceed sixty per cent. of the market value of the security, except when made for the purpose of facilitating the sale of property owned by the corporation. And it shall be unlawful for any savings and loan society, or savings bank, to purchase, invest, or loan its capital, or the money of its depositors, or any part of either, in mining shares or stocks. Any president or managing officer who knowingly consents to a violation of the above provision shall be deemed guilty of a felony.
AN ACT imposing a tax on the issue of certificates of stock corporations. (Approved April 1, 1878; Cal. Stats. 1877–78, p. 955.)
SECTION 1. It shall be lawful for the secretary of every corporation in the state of California to demand and receive of any person requiring the issue to him of any certificate of stock in such corporation, a fee often cents in coin for each certificate, whether such certificate be the original issue or an issue on transfer, and such certificate shall not be delivered by the secretary until such fee shall be paid. SEC. 2. It shall be the duty of the secretary of every such corporation, on the first Monday in January, April, July, and October of each year, to make returns, under oath, to the tax collector, or officer acting as tax collector, of the number of certificates issued by the corporation of which he is secretary, during the quarter preceding, and pay to such tax collector the sum of ten cents in coin for each and every certificate so issued by said corporation, except that in the city and county of San Francisco such returns and payments shall be made to the license collector, or officer engaged in the collection of licenses in said city and county. SEC. 3. Such tax collector, or license collector, is hereby authorized and empowered to examine such secretary, under oath, as to the truth of said returns, and to examine, if necessary, the books of such corporation, so far as they relate to the transfer of stock or issue of certificates, and if the returns are not correct, then he is authorized to commence an action against such corporation in any court of competent jurisdiction, in the name of the people of the state of California, for a penalty of one hundred dollars for each certificate issued by such corporation and not so returned under oath, and several penalties may be joined in such action. . SEC. 4. Any person violating the provisions of section two of this act shall be deemed guilty of a misdemeanor, and false swearing to any return provided in section two shall be deemed perjury. SEc. 5. All moneys collected under the provisions of this act shall be paid by such tax collector, or license collector, into the county treasury, and shall become a part of the general fund, or if there shall in any county be no general fund, then the same shall become a part of such fund as the board of supervisors may direct. SEC. 6. This act shall take effect on the first Monday in April, 1878.
AN ACT to provide for the establishment and maintenance of a mining bureau. (Approved April 16, 1880; Cal. Stats. 1880, p. 115.)
SECTION 1. There shall be and is hereby established in this state a mining bureau, the principal office of which shall be maintained in the city of San Francisco, at which place there shall be collected by the state mineralogist, and preserved for study and reference, specimens of all the geological and mineralogical substances, including mineral waters, found in this state, especially those possessing economic or commercial value, which specimens shall be marked, arranged, classified, and described, and a record thereof preserved, showing the character thereof and the place from whence obtained. The state mineralogist shall also, as he has opportunity and means, collect, and in like manner preserve at said office, minerals, rocks, and fossils of other states, territories, and countries, and the collections so made shall at all reasonable hours be open to public inspection, examination, and study.
SEC. 2. It shall be the duty of the governor to appoint a citizen of this state having a practical and scientific knowledge of mining and mineralogy to the office of state mineralogist, to hold his said office for the term of four years, or until the appointment and qualification of his successor, who shall take and subscribe the oath of office prescribed by the constitution, and who shall receive for his services a salary of three thousand dollars per annum, to be paid as other officers of the state are paid, and shall also receive his necessary traveling expenses when traveling on the business of his office, to be allowed and audited by the state board of examiners, the whole to be paid out of the mining-bureau fund hereinafter provided for, and not otherwise.
SEC. 3. In addition to the collection, classification, arranging, and preservation of specimens, as provided in the first section of this act, it shall be the duty of the state mineralogist to make analytical assays as required; and, when the funds in the mining-bureau fund are sufficient therefor, to provide and maintain a library of works on mineralogy, geology, and mining; to arrange in cases such specimens as he may collect; to procure and preserve models and drawings of mining machinery, and of milling machinery used in the reduction of ores; to correspond with established schools of mining and metallurgy, and obtain and preserve for public inspection and use such information respecting improvements in mining and mining machinery as will be of practical value to the people of this state; to visit the several mining districts of each county of the state, from time to time, ascertain and record their history, describe their geological formation and altitudes, the character of the mines and ores, and the general development of the district. At the close of each year he shall make a report in detail to the governor, showing the amount of disbursements of the bureau under his charge, the number of specimens collected, and giving such statistical information in reference to mines and mining as shall be deemed important. SEC. 4. The state mineralogist may, from time to time, and as the funds in the mining-bureau fund will permit, appoint such assistants as he may deem necessary and proper for the carrying out of the objects of this act, and the efficient provision and maintenance of a bureau of mining information and statistics, and may procure and maintain the necessary rooms and furniture for the office and uses of the bureau in San Francisco; but the entire expenses of the bureau for salaries, assistance, rents, furniture, fuel, and all other things pertaining to the bureau must not, in any one year, be greater than can be paid out of the mining-bureau fund herein provided for. SEC. 5. For the purpose of establishing a fund for the maintenance of said mining bureau, it shall be the duty of the tax collectors in the several counties in this state, and of the license collector of the city and county of San Francisco, on the second Monday of January, April, July, and October in each year, to transmit by express to the state treasurer all moneys collected by them from mining corporations, or from corporations formed for milling ores, or for supplying waterfor mining purposes, under or by virtue of the act entitled “An act imposing a tax on the issue of certificates of stock corporations”, approved April first, eighteen hundred and seventy-eight, and to forward to the state comtroller by mail a certificate showing the amount of money so forwarded to the state treasurer, and the date when the same was transmitted, and also showing the names of the several corporations from which the same was received, and the amount received from each. The state treasurer shall receive the amounts so transmitted, and give duplicate receipts therefor, one of which shall be filed with the state controller, and the other shall be returned by mail, or return express, to the collector from whom the money was received; and after paying out of the money so received the charges for the transmission thereof, the amount of which shall be noted on the receipt filed with the state controller, he shall retain the remainder in his hands as a separate fund, to be known as the mining-bureau fund, to be used only in payment of drafts made for the expenses of the mining bureau established under this act, and out of which all the expenses of said bureau shall be paid. SEC. 6. Such tax collectors and license collector shall hereafter be required to pay into the county treasuries of their respective counties only that portion of the moneys collected by them under the act of the legislaturementioned in the last preceding section which is collected from corporations other than those mentioned in section five of this act. SEC. 7. This act shall take effect and be in force from and after its passage.
AN ACT to promote drainage. (Approved April 23, 1880; Cal. Stats. 1880, p. 123.)
SECTION 19. The owner or owners or the managing agent of every hydraulic mine or any mine using water to wash the earth or ores for mining purposes, which mine may be embraced in whole or in part within any drainage district to be formed or organized under this act, and of all mines the waters from which carrying slickens, sand, or débris therefrom runs into any such district, shall, on or before the first day of July, A. D. eighteen hundred and eighty, and every year thereafter at the time required for rendering a statement to the assessor for the purpose of assessing for state and county taxes, render to the assessor of the county in which the mine is located a sworn statement showing the number of miners' inches of water (of twenty-four hours' run) used by the mine of which he is in whole or in part owner or the managing agent, for the preceding year ending on the first day of March next preceding the rendition of such statement. The statement shall include also the name and description of the mine. Upon the receipt of such statement from the owner or managing agent of such mines, the assessor shall enter the the same, in a separate column, in the duplicate assessment-book provided for in this act, so that it will show the number of miners' inches of water (of each twenty-four hours' run) used by each of such mines within the county for which he is assessor.
SEC. 20. The board of directors shall, at the same time in October of each year that they levy the tax hereinbefore provided for, levy an assessment upon all hydraulic mines, and upon all mines washing earth or ores with waters running into the district, of one-half of one cent for each miners' inch of water, of each twenty-four hours' run, used during such year, and shall notify the auditor of each county embraced in whole or in part in the district of the amount so levied, and he shall compute and enter upon the duplicate assessment-book the respective sums to be collected from the respective mines; and the tax collector shall collect said assessment at the same time and the same manner that they collect state and county taxes; and the money so collected shall be paid over in the same manner and at the same time as herein provided for the collection of taxes, and the state treasurer shall place the same to the credit of the “construction fund” of the proper district.
AN ACT amendatory of an act entitled “An act for the better protection of the stockholders in corporations, formed under the laws of the state of California, for the purpose of carrying on and conducting the business of mining”, approved March thirtieth, eighteen hundred and seventy-four”. (Approved April 23, 1880; Cal. Stats. 1880, p. 134.)
SECTION 1. Section one of said act is hereby amended so as to read as follows:
SECTION 1. It shall be the duty of the secretary of every corporation formed under the laws of this state for the purpose of mining, to keep a complete set of books, showing all receipts and expenditures of such corporation, the sources of such receipts, and the object of such expenditures, and also all transfers of stock. All books and papers shall at all times, during business hours, be open to the inspection of any bona fide stockholder, and if any stockholder shall at any time so request, it shall be the duty of the secretary to attend at the office of said company at least one hour in the day out of regular business hours, and exhibit such books and papers of the company as such stockholder may desire, who shall be entitled to be accompanied by an expert; and he shall also be entitled to make copies or extracts from any such books or papers. It shall be the duty of the directors, on the first Monday of each and every month, to cause to be made an itemized account or balance sheet for the previous month, embracing a full and complete statement of all disbursements and receipts, showing from what sources such receipts were derived, and for what and to whom such disbursements or payments were made, and for what object or purpose the same were made; also all indebtedness or liabilities incurred or existing at the time, and for what the same were incurred, and the balance of money, if any, on hand. Such account or balance sheet shall be verified under oath by the president and secretary, and posted in some conspicuous place in the office of the company. It shall be the duty of the superintendent, on the first Monday of each month, to file with the secretary an itemized account, verified under oath, showing all receipts and disbursements made by him for the previous month, and for what said disbursements were made. It shall also be the duty of the superintendent to file with the secretary a weekly statement, under oath, showing the number of men employed under him, and for what purpose, and the rate of wages paid to each one. He shall attach to such account a full and complete report, under oath, of the work done in said mine, the amount of ore extracted, from what part of the mine taken, the amount sent to mill for reduction, its assay value, the amount of bullion received, the amount of bullion shipped to the office of the company or elsewhere, and the amount, if any, retained by the superintendent. It shall also be his duty to forward to the office of the company a full report, under oath, of all discoveries of ores or mineral-bearing quartz made in said mine, whether by boring, drifting, sinking, or otherwise, together with the assay value thereof. All accounts, reports, and correspondence from the superintendent shall be kept in some conspicuous place in the office of said company, and be open to the inspection of all stockholders.
SEC. 2. Section two of said act is hereby amended so as to read as follows:
SEC. 2. Any bona fide stockholder of a corporation formed under the laws of this state for the purpose of mining shall be entitled to visit, accompanied by his expert, and examine the mine or mines owned by such corporation, and every part thereof, at any time he may see fit to make such visit and examination; and when such stockholder shall make application to the president of such corporation, he shall immediately cause the secretary thereof to issue and deliver to such applicant an order, under the seal of the corporation, directed to the superintendent, commanding him to show and exhibit such parts of said mine or mines as the party named in said order may desire to visit and examine. It shall be the duty of the superintendent, on receiving such order, to furnish such stockholder every facility for making a full and complete inspection of said mine or mines, and of the workings therein; it shall be his duty also to accompany said stockholder, either in person, or to furnish some person familiar with said mine or mines to accompany him, in his visit to and through such mine or mines, and every part thereof. In case of the failure or refusal of the superintendent to obey such order, such stockholder shall be entitled to recover, in any court of competent jurisdiction, against said corporation, the sum of one thousand dollars and traveling expenses to and from said mine as liquidated damages, together with costs of suit. In case of such refusal, it shall be the duty of the directors of such corporation forthwith to remove the officer so refusing, and thereafter he shall not be employed directly or indirectly by such corporation, and no salary shall be paid to him.
SEC. 3. Section three of said act is hereby amended so as to read as follows:
SEC. 3. In case of the refusal or neglect of the president to cause to be issued by the secretary the order in the second section of this act mentioned, such stockholder shall be entitled to recover against said president the sum of one thousand dollars and costs, as provided in the last section. In case of the failure of the directors to have the reports and accounts current made and posted as in the first section of this act provided, they shall be liable, either severally or jointly, to an action by any stockholder in any court of competent jurisdiction complaining thereof,
and on proof of such refusal or failure, such complaining stockholder shall recover judgment for one thousand
dollars liquidated damages, with costs of suit.
AN ACT for the further protection of stockholders in mining companies. (Approved April 23, 1880; Cal. Stats. 1880, p. 131.)
SECTION 1. It shall not be lawful for the directors of any mining corporation to sell, lease, mortgage, or otherwise dispose of the whole or any part of the mining ground owned or held by such corporation, nor to purchase or obtain, in any way, any additional mining ground, unless such act be ratified by the holders of at least two-thirds of the capital stock of such corporation. Such ratification may be made either in writing, signed and acknowledged by such stockholders, or by resolution, duly passed at a stockholders' meeting called for that purpose. SEC. 2. All stock in each and every mining corporation in this state shall stand in the books of said company, in all cases, in the names of the real owners of such stock, or in the name of the trustees of such real owners; but in every case where such stock shall stand in the name of a trustee, the party for whom he holds such stock in trust shall be designated upon said books, and also in the body of the certificate of such stock. SEC. 3. It shall not be lawful for any such corporation, or the secretary thereof, to close the books of said corporation more than two days prior to the day of any election. At such election the stock of said corporation shall be voted by the bona fide owners thereof, as shown by the books of said corporation, unless the certificate of stock, duly indorsed, be produced at such election, in which case said certificate shall be deemed the highestevidence of ownership, and the holder thereof shall be entitled to vote the same. SEC. 4. All acts and parts of acts in conflict with this act are hereby repealed. SEC. 5. This act shall take effect from and after its passage.
A MEND MENTS TO THE CO DE 8, 1880. CHAP. XC. AN ACT to amend section two hundred and ninety of the Civil Code, in regard to articles of incorporation. (Approved April 16, 1880. p. 11.)
SECTION 1. Section two hundred and ninety of the Civil Code is hereby amended so as to read as follows: SECTION 290. Articles of incorporation must be prepared, setting forth: First. The name of the incorporation. Second. The purpose for which it is framed. Third. The place where its principal business is to be transacted. Fourth. The term for which it is to exist, not exceeding fifty years. Fifth. The number of its directors or trustees, which shall not be less than five nor more than eleven, and the names and residence of those who are appointed for the first year: Prorided, That the corporate powers, business, and property of corporations formed or to be formed for the purpose of erecting and managing halls and buildings for the meetings and accommodation of several lodges or societies of any benevolent or charitable order or organization, and in connection there with the leasing of stores and offices in such building or buildings for other purposes, may be conducted, exercised, and controlled by a board of not less than five nor more than fifty directors, to be chosen from among the stockholders of such corporation or from among the members of such order or organization: And provided also, That at any time during the existence of corporations for profit, other than those of the character last hereinabove provided for, the number of directors may be increased or diminished, by a majority of the stockholders of the corporation, to any number not exceeding eleven nor less than five, who must be members of the corporation, whereupon a certificate, stating the number of directors, must be filed, as provided for in section two hundred and ninety-six for the filing of the original articles of incorporation. Sirth. The amount of its capital stock, and the number of shares into which it is divided. Seventh. If there is a capital stock, the amount actually subscribed, and by whom. SEC. 2. This act shall take effect immediately.
AN ACT to amend an act entitled “An act to amend section two hundred and ninety-nine of the Civil Code of California”, approved March twenty-second, anno Domini eighteen hundred and seventy-eight. (Approved April 23, 1880, p. 13.)
SECTION 1. Section (299) two hundred and ninety-nine of said Civil Code is hereby amended so as to read as follows:
SECTION 299. No corporation hereafter formed shall purchase, locate, or hold property in any county in this state without filing a copy of the copy of its articles of incorporation filed in the office of the secretary of state, duly certified by such secretary of state, in the office of the county clerk of the county in which such property is situated, within sixty days after such purchase or location is made. Every corporation now in existence, whether formed under the provisions of this code or not, must, within ninety days after the passage of this section, file such certified copy of the copy of its articles of incorporation in the office of the county clerk of every county in this state in which it holds any property (except the county where the original articles of incorporation are filed); and if any corporation "hereafter acquire any property in any county other than that in which it now holds property, it must, within ninety days thereafter, file with the clerk of such county such certified copy of the copy of its articles of incorporation. The copies so filed with the several county clerks, and certified copies thereof, shall have the same force and effect in evidence as would the originals. Any corporation failing to comply with the provisions of this section shall not maintain or defend any action or proceeding in relation to such property, its rents, issues, or profits, until such articles of incorporation, and such certified copy of its articles of incorporation, and such certified copy of the copy of its articles of incorporation, shall be filed at the places directed by the general law and this section: Provided, That all corporations shall be liable in daunages for any and all loss that may arise by the failure of such corporation to perform any of the foregoing duties within the time mentioned in this section: And provided further, That the said damages may be recovered in an action brought in any court of this state, of competent jurisdiction, by any party or parties suffering the same. SEc. 2. This act shall take effect immediately.
AN ACT to amend the Penal Code by adding two new sections thereto, to be known as sections one hundred and seventy-eight and
one hundred and seventy-nine, prohibiting the employment of Chinese by corporations. (Approved February 13, 1880; Penal Code, p. 1.)
SECTION 1. A new section is hereby added to the Penal Code, to be numbered section one hundred and seventy-eight: SEC. 178. Any officer, director, manager, member, stockholder, clerk, agent, servant, attorney, employé, assignee, or contractor of any corporation now existing, or hereafter formed under the laws of this state, who shall employ, in any manner or capacity, upon any work or business of such corporation, any Chinese or Mongolian, is guilty of a misdemeanor, and is punishable by a fine of not less than one hundred nor more than one thousand dollars, or by imprisonment in the county jail of not less than fifty nor more than five hundred days, or by both such fine and imprisonment: Provided, That no director of a corporation shall be deemed guilty under this section who refuses to assent to such employment, and has such dissent recorded in the minutes of the board of directors. 1. Every person who, having been convicted for violating the provisions of this section, commits any subsequent violation thereof after such conviction is punishable as follows: 2. For each subsequent conviction such person shall be fined not less than five hundred nor more than five thousand dollars, or by imprisonment not less than two hundred and fifty days nor more than two years, or by both such fine and imprisonment. SEC. 2. A new section is hereby added to the Penal Code, to be known as section one hundred and seventymine, and to read as follows: SEC. 179. Any corporation now existing or hereafter formed under the laws of this state, that shall employ, directly or indirectly, in any capacity, any Chinese or Mongolian, shall be guilty of a misdemeanor, and upon conviction thereof shall for the first offense be fined not less than five hundred nor more than five thousand dollars, and upon the second conviction shall, in addition to said penalty, forfeit its charter and franchise and all its corporate rights and privileges, and it shall be the duty of the attorney-general to take the necessary steps to enforce such forfeiture. SEC. 3. This act shall take effect immediately.
STATUTE S OF 1 8 81.
AN ACT to amend the Political Code of the state of California, relating to revenue, by adding a new section, to be known as section 3608 of said code, and by amending sections 3607, 3617, 3627, 3629, 3650, 3651, and 3652 of said code, and by repealing section 3640 of said code, all relative to revenue. (Approved March 7, 1881, p. 56.)
SECTION 1. Section three thousand six hundred and seven of the Political Code is hereby amended to read as follows:
SECTION 3607. All property in this state, not exempt under the laws of the United States, excepting growing crops, property used exclusively for public schools, and such as may belong to the United States, this state, or to