to prevent loss or embarrassment in the business of such bank, or unnecessary loss or injury to the borrowers on such security.

Conflicting laws repealed.

SEC. 146. All acts, or parts of acts, in conflict with this act are hereby repealed.

Time act shall take effect.

SEC. 147. This act shall take effect July first, 1909.

BATH HOUSES.

An act to secure the safety of the public at bathing places upon the seacoast and lakes.

Approved March 10, 1909; stats. 1909, p. 261.

The people of the State of California, represented in senate and assembly, do enact as follows:

Lifeboats, requirements for.

SECTION 1. Every person, firm of persons, or corporation, owning or conducting within this state a bath house, or other public place for the purpose of accommodating bathers, bordering upon or adjoining the seacoast or a lake where the public resort for the purpose of bathing in the open sea or lake shall keep one or more lifeboats fully equipped with oars, oarlocks, and not less than two life preservers, and two hundred feet of rope, always in good repair and near the bath house or resort. Such boat or boats shall have the word "lifeboat" plainly printed or painted upon them, and they shall be used for no other purpose than for saving of life or for other cases of emergency.

Penalty.

SEC. 2. Any person, firm of persons, or corporation who fails to comply with the provisions of this act is guilty of a misdemeanor and upon conviction shall be sentenced to pay a fine of not less than ten nor more than two hundred dollars or be imprisoned in the county jail not less than ten days nor more than six months, or by both fine and imprisonment.

Time act shall take effect.

SEC. 3. This act shall take effect thirty days after its passage.

BOARDS OF TRADE.

See Chambers of Commerce.

BENEFICIAL AND RELIEF ASSOCIATIONS.

An act relating to mutual beneficial and relief associations.

Approved March 28, 1874; stats. 1873-4, p. 745; amended 1880, p. 25; 1901, p. 6. Codified by the legislature of 1905, and therefore superseded by sections 452a and 453 of the Civil Code.

BONDS.

An act to facilitate the giving of bonds required by law.

Approved March 12, 1885; stats. 1885, p. 114.

The people of the State of California, represented in senate and assembly, do enact as follows:

Incorporation for giving bonds.

SECTION 1. Whenever any person who now or hereafter may be required or permitted by law to make, execute, and give a bond or undertaking, with one or more sureties, conditioned for the faithful performance of any duty, or for the doing or not doing of anything in said bond or undertaking specified, any head of department, board, court, judge, officer, or other person, who is now or shall hereafter be required to approve the sufficiency of any such bond or undertaking, or the sureties thereon, may accept as sole and sufficient surety on such bond or undertaking, any corporation incorporated under the laws of any state of the United States for the purpose of making or guaranteeing bonds and undertakings required by law, and which shall have complied with all the requirements of the laws of this state regulating the admission of such corporation to transact such business in this state; and all such corporations are hereby vested with full power and authority to make and guarantee

such bonds and undertakings, and shall be subject to all the liabilities and entitled to all the rights of natural persons sureties.

When corporation not accepted.

SEC. 2. It is further provided that the guaranty of any such company shall not be accepted by heads of departments or others, as provided in section one of this act, whenever its liabilities shall exceed its assets, as ascertained in the manner provided in section three of this act.

Duty of insurance commissioner.

SEC. 3. Whenever the liabilities of any such company shall exceed its assets, the insurance commissioner shall require the deficiency to be paid up within sixty days, and if it is not so paid up, then he shall issue a certificate showing the extent of such deficiency, and he shall publish the same once a week for three weeks in a daily San Francisco paper, and thenceforth, and until such deficiency is paid up, such company shall not do business under the provisions of this act. And in estimating the condition of any such company under the provisions of this act, the commissioner shall allow as assets only such as are authorized under existing laws at the time, and shall charge as liabilities, in addition to eighty per cent of the capital stock, all outstanding indebtedness of the company and a premium reserve equal to fifty per centum of the premiums charged by said company on all risks then in force. Nothing herein contained shall

apply to bonds given in criminal cases.

Time act shall take effect.

SEC. 4. This act shall take effect immediately.

NOTE. Constitutional (Cramer vs. Tittle, 72 Cal. 12); see, also, Fox vs. Hale & Norcross Silver Mining Co., 97 Cal. 353.

See, also, Code Civ. Proc. §§ 1056 and 1057, and Pol. C. subd. 4 of § 955.

An act providing for the cancellation of bonds given to secure the performance of the terms and conditions of franchises or privileges granted by the legislative or other governing body of counties or municipalities, the release of the sureties on such bonds, and the filing and acceptance of new bonds in lieu thereof.

Approved March 20, 1907; stats. 1907, p. 747.

The people of the State of California, represented in senate and assembly, do enact as follows:

Bonds to secure conditions of franchises, petition for releaseConditions of new bonds-Corporation surety.

SECTION 1. That in all cases where a bond or bonds have been given to secure the observance, fulfillment and performance of each and every term or condition, terms or conditions, or any thereof, of a franchise or privilege granted by a board of supervisors, board of trustees or common council, or other governing or legislative body of any county, city and county, city or town within this state, the governing or legislative body of such county, city and county, city or town may, upon the petition of the owner of said franchise or privilege, or upon the petition of the sureties on said bond or bonds, or upon the petition of any one or more of said sureties, cancel and annul said bond or bonds, and release the sureties thereon from any future liability, and accept and take in lieu thereof a new bond or bonds to be approved by the governing or legislative body of such county, city and county, city or town, in the same penal sum and containing the same terms and conditions as the bond or bonds so canceled and annulled; which new bond or bonds must be executed by the owner of said franchise or privilege and by new sureties satisfactory to the governing or legislative body of such county, city and county, city or town; provided, that any person, firm or corporation who acted as surety on the old bond or bonds so canceled and annulled may act as surety on the new bond or bonds, if the same be satisfactory to the governing or legislative body of such county, city and county, city or town.

When old bond shall become annulled.

SEC. 2. Immediately upon the acceptance by the governing or legislative body of such county, city and county, city or town of any new bond or bonds, filed with the governing or legislative body of such county, city and county, city or town as herein

provided for, the old bond or bonds shall become canceled and annulled, and the sureties thereon shall by such cancellation and annulment be released from any future liability on such old bond or bonds, but such cancellation and annulment shall not release said sureties from any past liability; and thereafter the new bond or bonds, herein provided for, shall take the place of such old bond or bonds.

Time act shall take effect.
SEC. 3.

This act shall take effect immediately.

BRIDGES.

An act to provide for bridges across navigable streams, and across estuaries, ponds, swamps, or arms of bays that may be outside of the line of navigable waters.

Approved March 14, 1881; stats. 1881, p. 76.

The people of the State of California, represented in senate and assembly, do enact as follows:

Power of supervisors to erect bridges or grant franchises.

SECTION 1. The power to erect bridges on public highways across navigable streams in this state, or to grant franchises to individuals or corporations for the same, is hereby granted to the boards of supervisors of the several counties of the state, under the restrictions of this act.

Where two counties interested, which one to control.

SEC. 2. The power to grant franchises to individuals or corporations to construct bridges, and the regulation of tolls thereon, shall be exercised by the county on the left bank of all streams.

Supervisors may join, when navigable stream.

SEC. 3. Where a navigable stream is the boundary line between the counties, the boards of supervisors of such counties may join in the construction of a bridge, upon such terms as may be agreed upon; provided, however, that in case of a failure to agree, either county may build the bridge and maintain control thereof.