An act to enable adjoining counties to enter into agreements for the construction, rebuilding, replacing, or relocation of bridges over navigable waters between said counties, jointly with other persons or corporations. Approved March 23, 1907; stats. 1907, p. 982. The people of the State of California, represented in senate and assembly, do enact as follows: Bridges between two counties, provision for joint construction and repair. SECTION 1. In case it shall appear to the boards of supervisors of two adjoining counties that any bridge shall be necessary for highway purposes, over any navigable river, stream, or inlet of the sea, between said counties, or if any bridge existing thereover and used wholly or in part for highway purposes, (whether the same is owned by said counties or either of them, or used by them or either of them by agreement with the owner thereof,) shall, in the interests of commerce, or by reason of such bridge being out of repair or deteriorated beyond reasonable repair, require reconstruction, or rebuilding, or replacing by a new structure, or its location to be changed to such place on such navigable river, stream, or inlet of the sea, as may be better suited to its use, or to the use of such navigable water, or may tend to prevent obstruction to commerce thereon, the boards of supervisors of such counties may, in their discretion, enter into an agreement with any person or corporation for the building of a joint bridge, or the reconstruction, or rebuilding, or replacing by a new structure of such existing bridge, or the rebuilding thereof at another location, and the joint use of the same thereafter by such person or corporation, and said counties or the public, and for apportioning the expense of such joint reconstructed or relocated bridge between said counties and each of them and such person or corporation jointly using or to use the same, and to provide for the construction and use thereof in such manner and upon such terms and conditions as may be agreed upon between such counties and such person or corporation. such case none of the provisions of subdivision four of section twenty-five of an act entitled "An act to establish a uniform system of county and township government," approved April 1, 1897, shall be applicable thereto; provided, that in no event shall either county agree to contribute more than one third of the cost In of construction, reconstruction, relocation, or repair of any such joint bridge. Time act shall take effect. SEC. 2. This act shall take effect immediately. (See, also, acts of March 14, 1881, and February 25, 1897, ante.) BROKERS. An act fixing the rates of interest and charges on loans upon chattel mortgages on certain personal property, and prescribing penalties for the violation of the act. Approved March 20, 1905; stats. 1905, p. 422. Unconstitu(Ex parte Sohncke, 148 Cal. 262.) tional. An act to provide for the incorporation of associations for lending money on personal property, and regulating the same, and to forbid certain loans of money, property or credit. Approved March 21, 1905; stats. 1905, p. 711. Unconstitu(Ex parte Sohncke, 148 Cal. 262.) tional. An act to define personal property brokers and regulate their charge and business. Approved April 16, 1909; stats. 1909, p. 969. The people of the State of California, represented in senate and assembly, do enact as follows: Personal property broker defined. SECTION 1. That every person or corporation engaged in the business of loaning or advancing money or other thing and taking in whole or in part as security for such loan or advance any chattel mortgage, bill of sale or other obligation or contract involving the forfeiture of rights in or to personal property, the use or possession of which is retained by other than the mortgagee or lender, or engaged in the business of loaning or advancing money or other thing, and taking either in whole or in part as security therefor any lien on, assignment of or power of attorney relative to wages, salary, earnings, income or commissions, shall be held, and, for the uses and purposes of this act, is hereby declared and defined to be a personal property broker. Percentage that may be charged. SEC. 2. Such personal property broker may charge, receive and collect a benefit or percentage upon money or other thing advanced, or for the use and forbearance thereof, of five per centum per month where such loan or advance is made upon security properly falling within the scope of business as set forth in section one hereof. Further charges forbidden-Exception. SEC. 3. No further or other charges either for recording, insuring or examining the security or property, or for the drawing, executing or filing of papers, or for any services or upon any pretext whatsoever beyond the aforesaid charge for interest or discount shall be asked, charged, or in any way received, where the same would thereby make a greater charge for the money or thing advanced than the aforesaid rate of five per centum per month, and where made, all such charges shall be considered and be of the same effect as so much added interest; provided, however, that with the consent of the borrower he may be required to pay the fees or charges actually expended where the same are made necessary by law to give full legal effect to any instrument given hereunder. Excess of legal rate forbidden. SEC. 4. No contract of any kind or nature made by any personal property broker which comes within the scope of business as set forth in section one hereof, or which in any way involves any security given to secure the performance of such contract, shall be valid or of any force, virtue or effect, either at law or in equity, if there is therein or thereon directly or indirectly charged, accepted or contracted to be received or paid, either in money, goods, discount, or thing in action, or in any other way, a greater benefit, rate of discount, or interest than the rate of five per centum per month; and if a greater benefit, rate of discount or interest than five per centum per month is directly or indirectly advanced or paid upon any such contract as is in this section designated, the excess above the said rate of five per centum per month so advanced or paid may be demanded and recovered by the person or his legal representatives or assigns who advanced or paid the same from the person or corporation either to whom or for whose use or benefit such payment or advance or any part thereof was made. Loan tickets. SEC. 5. Whenever a loan or advance shall be made, renewed or extended, hereunder there shall be given to the borrower a ticket or memorandum plainly inscribed with the name of the person or corporation making the loan, and members or general partners of the same if it be a firm, partnership or association, and further designating the number and nature of the instruments taken as security, the number of notes and amount of each, and the name of the party or parties in whose favor each of the aforesaid papers are executed, when the same are payable, the amount actually advanced thereon, the amount including all interest and expenses charged or to be paid for such loan or advance, and copies of sections two, three and four of this act. Penalty for violation of act. SEC. 6. The failure of any person or corporation, or any employee, employees, agent, agents, representative or representatives making, renewing or extending a loan or advance properly falling within the scope of business as set forth in section one of this act to comply with any or any part of the provisions of section five hereof, shall be punishable by a fine of not to exceed fifty dollars for the first offense, and by a fine of not to exceed two hundred dollars for each subsequent offense. BUILDING AND LOAN COMMISSIONERS. An act creating a bureau of building and loan supervision; providing for the appointment of administration officials therefor to be known as the building and loan commissioners; prescribing their duties, powers and compensation; providing for a secretary, his powers and compensation; providing for the rental of offices for the use of the bureau and for traveling and office expenses; providing a system for licensing building and loan and other associations, and for assessing and collecting the license fees necessary to meet the salaries and other expenses; providing a course of procedure where violations of law, or unsafe practices are found to exist, or are reported by the commissioners to the attorney general; providing for involuntary liquidation by trustees, and proceedings in connection therewith; providing for exemption of property of associations in liquidation from attachments, executions and liens, pending liquidation; providing for and requiring associations to procure licenses, pay assessments levied for pro rata of salaries and expenses, and to make and file reports; providing penalties for violations of law and orders of the commissioners; providing for succession in office, and repealing all acts and parts of acts in conflict herewith. Approved March 21, 1905; stats. 1905, p. 659. The people of the State of California, represented in senate and assembly, do enact as follows: Powers of bureau-Definition of building and loan associations. SECTION 1. There is hereby created a bureau, to be known and designated as the "Bureau of Building and Loan Supervision," with powers of supervision, examination and license of all building and loan associations, mutual loan associations, cooperative home associations, and all other corporations, associations and societies, whenever, wherever and however formed, which, in the judgment of the administration of said bureau, are based, or are operating on plans or methods similar to building and loan associations as defined in section six hundred and forty-eight of the Civil Code; it is also charged with the enforcement of all laws designed for the formation, government or operation, in this state, of any such association, corporation or society. |