Annual report required of receivers or trustees. SEC. 11. Receivers, or trustees elected in lieu thereof, must, at least annually, make due report of all their doings and accounts to the proper court, and immediately thereafter file a copy thereof with the commissioners; and the commissioners shall, at least once in each year and as much oftener as they may deem expedient, examine the accounts, doings and reports of such receivers or trustees, and, for such purpose, shall have full and free access to all books, accounts and vouchers relating to any such liquidation, and any defect, irregularity, or misconduct on the part of such receivers or trustees, as they may find to exist, shall be, by the commissioners, reported to the proper court. [Section 11 amended March 20, 1909; in effect immediately.] Upon request, commissioners to investigate affairs of associa tion. SEC. 12. Upon the certificate, under oath, of any ten or more officers, trustees, creditors, shareholders or depositors of any such association, corporation or society, setting forth their interest and the reason for the making of such examination, directed to the commissioners, and requesting them so to do, they shall forthwith make a full investigation of its affairs, in the manner provided. Neglect of duty by commissioners is cause for removal. SEC. 13. If either of the commissioners, having knowledge of the insolvent condition, or of any violation of law or unsafe practice of any such association, corporation or society under their supervision, such as renders, in their opinion, the conduct of its business hazardous to its shareholders, creditors or depos itors, shall fail to take the proper action required by this act, or shall refuse or neglect to perform the official duties pertaining to his office, then upon conviction thereof the office of such commissioner shall be declared vacant by the governor, and a successor be appointed to fill the unexpired term. Assessment upon associations to pay salaries and expenses of commissioners. SEC. 14. To meet the salaries and expenses provided for by this act, the commissioners shall require every association, corporation or society licensed by them or coming under their supervision to pay in advance, to them, and prior to the issu ance of any license, its pro rata amount of all such salaries and expenses, and it is hereby made the duty of every such association, corporation or society to pay the same; such pro rata shall be fixed and determined by the proportion which its assets bear to the aggregate assets of all such associations, corporations, or societies, receiving licenses, as shown by the last reports of such corporations, associations, or societies to the commissioners. On or before the thirtieth day of December, in each year, the commissioners shall notify each of such associations, corporations or societies, through the United States mail, of the amount assessed and levied against it and that the same must be paid within twenty days thereafter; and should payment not be made to them within said twenty days, they shall then assess and collect a penalty, in addition thereto, of ten per cent per day for each day that such payment may be delayed or withheld; provided, however, that in the levy and collection of such assessment, no such association, corporation or society shall be assessed for, nor be permitted to pay less than ten dollars per annum, and any such association hereafter formed in this state, shall be required to pay not less than one dollar per month for the unexpired term ending December thirty-first, succeeding application; and in like manner any such association organized outside of this state shall be required to pay not less than three dollars per month, for such unexpired term, for its first license. Authority to transact business to be obtained from commissioners-Certified copy of articles of incorporation to be filed-Renewal of license-Revocation. SEC. 15. It shall be the duty of the commissioners to require every such association, corporation or society coming under their supervision, to procure from them, prior to the transaction of any business, a certificate of authority or license to transact business in this state; and it is hereby made the duty of every such association, corporation or society to comply with such requirement. To procure such license, there must be filed with and approved by the commissioners, a certified copy of its articles of incorporation, constitution and by-laws and all subsequent amendments thereto, accompanied by the license fee herein provided for; and after the expiration of the term for which a license may have been granted to it, no such association, corporation or society shall be permitted to continue to transact business without first procuring a renewal of such license on the terms provided in this act, and any such association, corporation or society violating the provisions hereof shall be subject to a penalty of ten per cent per day of the amount of the license fee required to be paid under section fifteen of this act, in addition thereto, for each day during the continuance of such offense. The commissioners are authorized and empowered to revoke the license of any such association, corporation or society under their supervision, the solvency whereof may have become imperiled by losses or irregularities; and immediately upon the revoking of any such license they shall report the facts to the attorney general, who shall thereupon take such proceedings as are provided in section nine of this act. Associations to make annual report of financial condition. SEC. 16. The commissioners shall require every association. corporation or society licensed by them, and including associations in liquidation, within thirty days after the close of its annual fiscal term, to make a report to them in writing, verified by the oath of its president and secretary, showing accurately its financial condition at the close of such term; such report shall also include all the receipts and disbursements and income and expenses for the term, together with such statistical and other information as may be deemed essential; all and every of such reports shall be in such form as, the commissioners may prescribe, and upon blanks to be by them furnished therefor. Every such association, corporation or society is hereby required to make and file all such reports within the time specified herein, and for failure or neglect so to do shall be subject to a penalty of ten dollars per day for each and every day the same shall be delayed or withheld. Enforced collection of assessments-Deposit of moneys col lected. SEC. 17. The collection of all moneys assessed as herein provided, for the payment of salaries and annual expenses, or forfeitable as fines for failure to make payments of assessments, procure licenses, or make and file reports as herein specified, and due from any such association, corporation or society coming within the provisions of this act, or imposed as a penalty for violation of any order or summons, may be enforced by the commissioners, by action instituted in any court of competent jurisdiction; and all moneys collected or received by the commissioners under this act, shall be deposited with the state treasurer, to be credited to a fund to be known and designated as the "building and loan inspection fund"; which said fund shall only be used in defraying the salaries and expenses provided for by this act. Term of present commissioners not affected. : SEC. 18. This act shall not be construed as affecting the terms of office of the commissioners appointed under and by virtue of an act entitled "An act creating a board of commissioners of the building and loan associations and prescribing their duties and powers," approved March twenty-third, eighteen hundred and ninety-three, and acts amendatory thereof, and such commissioners are hereby created the building and loan commissioners for the unexpired terms for which they were appointed, and they and their secretary are hereby vested with all the powers and duties, and are entitled to all the emoluments herein provided for; and they and their successors in office, as the building and loan commissioners herein provided for, shall succeed to all the rights, privileges and benefits, and to the control and possession of all records, property and funds in the possession of or enjoyed by the board of commissioners of the building and loan associations appointed under and by virtue of said act of March twenty-third, eighteen hundred and ninety-three. Repeal of conflicting acts. SEC. 19. All acts and parts of acts, including an act entitled "An act creating a board of commissioners of the building and loan associations and prescribing their duties and powers,” approved March twenty-third, eighteen hundred and ninetythree, and all acts amendatory thereof, are hereby repealed. Time act shall take effect. SEC. 20. This act shall take effect and be in force from and after its passage. CEMETERIES. See, also, Crematories. See Civ. C. §§ 608-616, for incorporation of cemetery corporations. An act to authorize the incorporation of rural cemetery associations. Approved April 18, 1859; stats. 1859, p. 281. ED. NOTE. This act was repealed by section 288 of the Civil Code (in effect January 1, 1873), and is applicable only to such corporations as were organized under its authority prior to that time, but is included in this compilation of present laws for the reason that naturally, owing to the inherent nature of such corporations, a large number throughout the state are still in existence and operating under the provisions of this statute. The people of the State of California, represented in senate and assembly, do enact as follows: Formation of corporation and election of trustees. SECTION 1. Any number of persons residing in this state, not less than seven, who shall desire to form an association for the purpose of procuring and holding lands, to be used exclusively for a cemetery, or place for the burial of the dead, may meet at such time and place, as they, or a majority of them may agree, and appoint a chairman, or secretary, by a vote of the majority of the persons present at the meeting, and proceed to form an association, by determining on a corporate name, by which the association shall be called and known, by determining on the number of trustees, to manage the concerns of the association, which number shall not be less than six, nor more than twelve, and thereupon may proceed to elect, by ballot, the number of trustees, so determined on, and the chairman and secretary shall, immediately after such election, divide the trustees, by lot, into three classes: those in the first class to hold their office one year; those in the second class, two years; and those in the third class, three years; but the trustees of each class may be reëlected, if they shall possess the qualification hereinafter mentioned. The meeting shall also determine on what day, in each year, the future annual elections of trustees shall be held. |