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$ 308.

Citations. Cal. 158/351. App. 11/685. § 309.

Citations. Cal. 156/228, 229; 157/729. § 310.

Citations. App. 8/712. § 312.

Citations. Cal. 157/757, 759.
Stock of minors, insane, etc., how represented.

§ 313. The shares of stock of an estate of a minor, or insane person, may be represented by his guardian, and of a deceased person by his executor or administrator, and, except when otherwise agreed, all shares of stock standing on the books of a corporation in the name of any person as pledgee or trustee, may be represented or voted by such pledgee or trustee only when such pledgor or beneficial owner fails to represent and vote the same. (Amendment approved March 9, 1911; Stats. 1911, p. 318.]

Citations. App. 11/748. $ 315.

Citations. App. 11/683. $ 316.

Citations. App. 10/859. § 322.

Citations. Cal. 158/277, 279, 281. App. 10/577; 18/27. $ 323.

Citations. Cal. 157/633. § 324.

Citations. Oal. 157/575, 576, 578. § 325.

Citations. Cal. 156/85. § 331.

Citations. App. 9/581. § 332.

Citations. Cal. 157/446. App. 9/581. § 333.

Citations. App. 9/581.

§ 336.

Citations. App. 9/582. § 337.

Citations. App. 9/582. § 338.

Citations. App. 9/582. § 339.

Citations. App. 9/582. $ 346.

Citations. App. 9/582. § 347.

Citations. Oal. 158/844, 851. $ 349.

Citations. App. 9/681, 682. $ 354.

Citations. App. (subd. 8) 11/895. § 358.

Citations. App. 18/885, 886, 888. $ 359.

Citations, Cal. 157/729. § 360.

Citations. App. 14/820. § 377.

Citations. App. 10/859. $ 378.

Citations. Cal. 157/581. $ 400.

Citations. Cal. 156/95, 102. App. 14/270, 271, § 405.

Citations. Cal. 156/467, 469. App. 9/285, 286, 287; 12/447, 148, 149, 703; 13/60.

§ 406.

Citations. Cal. 156/469. App. 9/285, 286; 12/703.

§ 407.

Citations. Cal. 156/469. App. 10/72, 73, 74. § 408.

Citations. Cal. 156/469. App. 10/74; 13/60. Foreign corporations failing to comply with law.

§ 410. Every corporation organized under the laws of another state, or territory, or of a foreign country, which shall neglect or fail, within ninety days from the taking effect of this section, to comply with the conditions of sections 408 and 409 of this code, shall be subject to a fine of not less than five hundred dollars, to be recovered in any court of competent jurisdiction; and it is hereby made the duty of the secretary of state, as he may be advised that corporations are doing business in contravention of sections 408 and 409 of this code, to report the fact to the governor, who shall instruct (1) the district attorney of the county wherein such corporation has its principal place of business, or (2) the attorney general of the state, or both, as soon as practicable, to institute proceedings to recover the fine provided for in this section, and the amount so recovered must be paid into the state treasury to the credit of the general fund of the state; in addition to which penalty, no foreign corporation which shall fail to comply with sections 408 and 409 of this code can maintain any suit or action in any of the courts of this state, or acquire or convey any legal title to any real property within this state, until it has complied with said sections; provided, that any such corporation which, prior to the eighth day of March, nineteen hundred and one, shall have complied with the provisions of the act entitled "An act to amend 'An act in relation to foreign corporations,' approved April first, eighteen, hundred and seventy-two," approved March seventeenth, eighteen hundred and ninety-nine, is exempted from the provisions of this section and the two sections next preceding. [Amendment approved April 26, 1911; Stats. 1911, p. 1113.] § 421.

Citations. App. (subd. 7) 11/394.
Provisions of life insurance policies issued in this state.

§ 450. Every contract or policy of life insurance hereinafter made by any person or corporation, with and upon the life of a resident of this state, and delivered within this state, shall provide, in event of default of any premium payment after three full annual premiums shall have been paid on such policy, that without any action on the part of the insured, the net value of such policy based upon the reserve basis used in computing the premiums and values thereunder (the policy to specify ihe mortality table and rate of interest so adopted) which net value shall be at least equal to its entire net reserve at the date of default, ipeluding that of dividend additions, if any, based upon a standard not lower than the American experience tables of mortality with interest at

surance:

three and one-half per cent yearly, less a surrender charge of not more than two and one-half per cent of the face amount of the policy and of any existing dividend additions thereto and less any indebtedness to the company on or secured by the policy, shall be applied as a single premium to the purchase of one of the following stipulated forms of in

First-Paid-up nonparticipating term insurance in the amount of the face of the policy, plus dividend additions, if any, for such a period as the net value outlined above will purchase at the net single premium, at the attained age of the insured at the time of the lapse, based upon the reserve basis described in the policy; provided, however, that under endowment contracts the term shall not extend beyond the endowment period named in the original contract, and the excess value, if any, shall be applied as a net single premium to purchase in the same manner paid-up pure endowment insurance, payable at the end of the endowment period named in the contract if the insured be then living, or,

Second-Paid-up nonparticipating term insurance in the amount of the face of the policy, plus dividend additions, if any, and less any outstand. ing indebtedness, for such a period as the net value outlined above will purchase at the net single premium, at the attained age of the insured, based upon the reserve basis described in the policy, provided, however, that under endowment contracts the term shall not extend beyond the endowment period named in the original contract, and the excess value, if any, shall be applied as a net single premium to purchase in the same manner paid-up pure endowment insurance, payable at the end of the endowment period named in the contract if the insured be then living, or,

Third-Paid-up nonparticipating insurance payable at the time and on the conditions named in the policy for such an amount as the net value outlined above will purchase at the net single premium, at the attained age of the insured, based upon the reserve basis described in the policy.

Provided, however, that the policy may be surrendered to the company, at its home office, upon due application by the legal owner thereof, within one month after date of premium default, for a specified cash value which shall be at least equal to the sum which would be otherwise avail. able for the purchase of the automatic form of insurance provided therein; and provided, further, that the company may defer payment of such cash value for not more than six months after application therefor is made.

No agreement between the company and the policy-holder or applicant for insurance contrary to the foregoing shall be held to waive any of the provisions provided above.

Any life insurance policy issued upon the life of a resident of this state, and delivered within this state, which does not contain an automatic nonforfeiture value in conformity with the foregoing shall be construed as granting nonparticipating term insurance, as provided in paragraph first of this section, and such a benefit shall be read into the contract.

The provisions of this section shall not apply to annuities, industrial policies or to term contracts issued for periods of twenty years or less. [Amendment approved May 1, 1911; Stats. 1911, p. 1272.] § 465.

Citations. Cal. 157/367, 368, 369, 370; (subd. 4) 157/369; 158/437, 439, 440; (subd. 5) 157/368, 369, 370. § 470.

Citations. Cal. 157/867, 868. § 483.

Citations. App. 14/196, 197. § 485.

Citations. App. 9/458, 461; 11/283. § 486.

Citations. App. 9/23. § 497.

Citations. App. 14/472, 473, 474, 475.

City trustees may permit two or more street railway lines to use same

tracks. § 499. The legislative body of any incorporated city, city and county, or town, may permit two or more lines of street railway to use the same portion of the same street or the same tracks upon such terms as may be agreed upon by the companies operating such railways; but no permission shall be granted to one company to use the same tracks or portions of the same street for a distance of more than five consecutivo blocks, without the consent of the person or company occupying said portion of the street and then only upon payment of an equal portion of the cost of construction of the tracks and appurtenances used by such railways jointly; provided, that any incorporated city, city and county, or town may own and operate street railways within or without the municipal limits, and may occupy the same street or tracks occupied or used by any street railway within its limits for any number of blocks upon payment to the owner thereof of an equal portion of the estimated cost of construction, at the time of such occupation, of such tracks or appurtenances as such city, city and county, or town may elect to use jointly with said street railway. Where such portion of such street shall be occupied by a track or tracks of a different gauge from the track or tracks proposed to be constructed thereon by a line of street railway under a different management, such last-mentioned line of street railway may nevertheless construct its track or tracks, subject to the limitation before prescribed, over the same ground as may be occupied

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