office furniture or fixtures, instruments of surveyors, physicians, or dentists, printing presses or printing material, wearing apparel, diamonds, watches or jewelry. The foregoing prohibition shall apply to any person who, as security for any such loan, use or forbearance of money, or for any such loan, use or sale of personal credit, as aforesaid, makes a pretended purchase of property from any person, or who, by any device or pretense of charging for his services, or otherwise, seeks to obtain a larger compensation in any case hereinbefore provided for. Any person violating the foregoing prohibition shall be guilty of a misdemeanor and is punishable by a fine of one hundred dollars ($100.00) for the first offense, and by a like fine and imprisonment in the county jail for thirty days for the second and each subsequent offense; and further, the interest on any amount loaned shall be forfeited to the borrower. But this section shall not apply to licensed pawnbrokers, making loans upon the actual and permanent deposits of personal property, excepting those charging unlawful rates of interest, nor affect in any way the validity or legality of any loan of money or credit exceeding three hundred dollars ($300.00) in amount. SEC. 13. Any corporation organized under this Act which shall violate the provisions of the second section hereof, shall be liable to a penalty of one hundred dollars ($100.00) for each and every day of the continuance of such violation; and any corporation which shall willfully violate any of the provisions of any other section of this Act, by which any person shall suffer or sustain loss or damage, shall forfeit its rights to do business, and the Attorney-General of this State shall take the necessary legal measures to wind up and discontinue its business. Any director, officer or employé of any corporation organized under this Act who shall charge, take or collect or receive, any compensation on a loan beyond or in excess of the charges herein allowed, shall be guilty of a misdemeanor and be fined not to exceed one hundred dollars ($100.00) or be imprisoned in the county jail for not more than six (6) months, or both. SEC. 14. No such corporation shall, in any year, declare or pay dividends on its capital stock amounting to more than six (6) per centum. After any such corporation shall have accumulated a surplus or risk fund amounting to fifty (50) per centum of its capital, the Board of Bank Commissioners, upon ascertaining that said corporation has, during the previous calendar year, made a net profit amounting to more than six (6) per centum on its capital, shall have authority to make an order reducing the rates of interest, discount and charges which said corporation may lawfully charge and receive upon loans, to such rates as will, in the judgment of said Commissioners, produce a net return of six (6) per centum on its capital stock. It shall be stated in said order when it shall take effect, which shall not be less than four months after it is made, and it shall continue in force until revoked. SEC. 15. Such corporation shall pay annually in advance license fees, as follows: To the Treasurer of State, who shall pay the same into the "Bank Commissioners' Fund," the sum of fifty dollars ($50.00), to the Treasurer of the city, or city and county, in which such corporation is located, the sum of one hundred and fifty dollars ($150.00). This to be in lieu of all other licenses. SEC. 16. This Act shall take effect and be in force from and after its passage. An Act fixing the rates of interest and charges on loans upon chattel mortgages on certain personal property, The people of the State of California, represented in Senate and SECTION 1. It shall not be lawful for any individual, partnership, association or corporation lending money upon chattel mortgages, where there is taken for such loan any security upon any upholstery, furniture or household goods, oil paintings, pictures or works of art, pianos, organs or sewingmachines, iron or steel safes, professional libraries or office furniture or fixtures, instruments of surveyors, physicians or dentists, printing presses or printing material, to have or charge for the use of money so loaned more than the rate of one and one half per cent per month interest thereon, and that no additional sum, either in the way of bonus or otherwise, shall be required or exacted of the borrower or borrowers; and further, that no charge for examination or valuation of property offered, insurance of same, and preparation, execution and recording of necessary papers shall be imposed, except as follows: For examination or valuation of property offered for mortgage and preparation of papers (both included), no greater sum than five ($5.00) dollars where the amount loaned does not exceed three hundred ($300.00) dollars. For necessary affidavits, recording of papers, and fire insurance premiums, the amounts actually to be paid for same; provided, that the foregoing charges may be deducted from the principal of the loan when the same is made; and provided further, that in no case shall it be lawful to deduct interest in advance, nor make any charge for extensions of loans, nor to divide or split up loans under any pretense whatsoever for the purpose of requiring or exacting any other or greater charges than prescribed herein. SEC. 2. Any individual and any officer of any association or corporation, who shall violate any of the provisions of this Act, shall be guilty of a misdemeanor, and shall be fined $100.00 for the first offense, and a like fine and imprisonment in the county jail for thirty days for the second and each subsequent offense; and further, the mortgage or other instrument of security given for any loan shall become null and void as to the interest to be paid thereunder. ANNUAL LICENSE TAX ON CORPORATIONS. An Act relating to revenue and taxation, providing for a license tax upon corporations, and making an appropriation for the purpose of carrying out the objects of this Act. [As approved March 20, 1905. Amended, approved June 13, 1906. Amended, approved March 19, 1907. Amended, approved March 20, 1907.] The people of the State of California, represented in Senate and Assembly, do enact as follows: SECTION 1. No corporation heretofore or hereafter incorporated under the laws of this State, or of any other State, shall do or attempt to do business by virtue of its charter or certificate of incorporation, in this State, without a State license therefor. [Amendment approved June 13, 1906.] SEC. 2. It shall be the duty of every corporation incorporated under the laws of this State, and of every foreign corporation now doing business, or which shall hereafter engage in business in this State, to procure annually from the Secretary of State a license authorizing the transaction of such business in this State, and shall pay therefor a license tax as follows: When the authorized capital stock of the corporation does not exceed ten thousand dollars ($10,000) the tax shall be ten dollars ($10.00); when the authorized capital stock exceeds ten thousand dollars ($10,000) but does not exceed twenty thousand dollars ($20,000) the tax shall be fifteen dollars ($15.00); when the authorized capital stock exceeds twenty thousand dollars ($20,000) but does not exceed fifty thousand dollars ($50,000) the tax shall be twenty dollars ($20.00); when the authorized capital stock exceeds fifty thousand dollars ($50,000) but does not exceed one hundred thousand dollars ($100,000) the tax shall be twenty-five dollars ($25.00); when the authorized capital stock exceeds one hundred thousand dollars ($100,000) but does not exceed two hundred and fifty thousand dollars ($250,000) the tax shall be fifty dollars ($50.00); when the authorized capital stock exceeds two hundred and fifty thousand dollars ($250,000) but does not exceed five hundred thousand dollars ($500,000) the tax shall be seventy-five dollars ($75.00); when the authorized capital stock exceeds five hundred thousand dollars ($500,000) but does not exceed two million dollars ($2,000,000) the tax shall be one hundred dollars ($100.00); when the authorized capital stock exceeds two million dollars ($2,000,000) but does not exceed five million dollars ($5,000,000) the tax shall be two hundred dollars ($200.00); when the authorized capital stock exceeds five million dollars ($5,000,000) the tax shall be two hundred and fifty dollars ($250.00). Said license tax or fee shall be due and payable on the first day of July of each and every year to the Secretary of State, who shall pay the same into the State treasury. If not paid on or before the hour of four o'clock P. M. of the first day of September next thereafter, the same shall become delinquent and there shall be added thereto, as a penalty for such delinquency, the sum of ten dollars. The license tax or fee hereby provided authorizes the corporation to transact its business during the year or for any fractional part of such year in which such license tax or fee is paid. "Year," within the meaning of this Act, means from and including the first day of July to and including the thirtieth day of June next thereafter. in effect April 1, 1907.] [Amendment approved March 19, 1907; SEC. 3. The Secretary of State shall, on or before the 15th day of September in each year, report to the Governor of the State a list of all corporations which have become delinquent, as provided in section two of this Act, and the Governor shall forthwith issue his proclamation, declaring under this Act, that the charters of such delinquent domestic corporations will be forfeited and the right of such foreign corporations to do business in this State will be forfeited unless payment of said license tax, together with the penalty for such delinquency, as hereinbefore provided, be made to the Secretary of State on or before the hour of four o'clock P. M. of the thirtieth day of November next following. [Amendment approved June 13, 1906.] SEC. 4. Said proclamation shall be filed immediately in the office of the Secretary of State, and said Secretary of State shall immediately cause a copy of said proclamation to be published in one issue of each of two daily newspapers to be selected by the Governor. [Amendment approved June 13, 1906.] SEC. 5. At the hour of four o'clock P. M. of the thirtieth day of November each year the charters of all delinquent domestic corporations which have failed to pay the said license tax, together with said penalty for such delinquency, shall be forfeited to the State of California, and the right of all delinquent foreign corporations to do business in this State which have failed to pay said license tax, together with the penalty for such delinquency, shall be likewise forfeited. [Amendment approved June 13, 1906.] SEC. 6. Any corporation which failed to pay the license tax and penalty required by the Act, or any amendment thereof, and of which is amendatory may on or before noon on July 1, 1907, pay all the said license taxes and penalties prescribed by section one of said Act and the amendments thereto and any such corporation making such payment shall be relieved from the forfeiture prescribed by the Act of which this Act is amendatory, and all persons exercising the powers of any such corporation making such payment shall be relieved from the provisions of section nine of said Act of which this Act is amendatory, and the Secretary of State shall immediately after the first day of July, 1907, transmit to the County Clerk of each county in this State a list of the corporations so paying pursuant to the |