at no time shall the rate charged be greater than fifty cents per day per prisoner. § 10. Credit for work done on farm. Payment of credits. Revolving Fund. Each person in custody on such industrial farm or industrial road camp who shall be found, in the manner hereinafter provided, to have any person or persons dependent on him for support, shall be credited with a sum not to exceed two dollars for each day of eight hours' work done by him on such farm or camp. Every other person in custody on such farm or camp shall be credited with a sum not to exceed fifty cents for each day of eight hours' work done by him on such farm or camp. The maximum amount per day to be so credited to the person in custody on such farm or camp shall be fixed from time to time by the board of supervisors and shall be as large as is justified by the production on said farm or camp but not to exceed the sums mentioned in this section. The superintendent of the farm may by order cause an amount less than the maximum per day to be credited to any person because of lack of effort on the part of such person, the amount credited to be in proportion to the effort. Payment of credits. The sum to the credit of each such person upon his discharge shall be paid him in addition to any transportation charge otherwise paid under this act. Any such person may, by written order, direct the payment of any sums credited to him to any person dependent upon him or to whom he is indebted. Provided, however, that the court by whom any such person was sentenced to such farm or camp may at any time by written order direct payment of all or any part of the sums to be credited to any such person to any person or persons dependent for support on such prisoner. At the time of sentencing any person to such farm or camp the court shall by making inquiry or taking evidence find whether or not any person or persons are dependent upon the defendant for support. A copy of such finding of the court shall be transmitted to the superintendent of the farm or camp. Payments authorized to be made to any person other than the prisoner may be made weekly on any day designated by the superintendent of the farm or camp. Revolving fund. For the purpose of making the payments in this section provided the board of supervisors shall by order provide said superintendent with a revolving fund. Upon order of the board of supervisors the county auditor shall draw a warrant in favor of the superintendent of the farm or camp and the county treasurer shall cash the same. Thereafter the superintendent shall receive from the county general fund demands supported by receipts all sums paid out by him under the provisions of this section and shall return all sums so received to the revolving fund. The board of supervisors shall require the superintendent of the farm or camp to give a bond with good and sufficient sureties in an amount not less than twice such revolving fund, conditioned upon the faithful performance by said superintendent of all his obligations and in particular the safekeeping and honest use of said revolving fund. § 11. Use of products. So far as practicable those in custody on such industrial farm shall be employed in productive labor. The products of the farm shall be used: first, to maintain the prisoners and employees on such farm; second, to supply other county institutions having need of the same with the farm's products; third, to supply the needs of the paupers, incompetents, poor and indigent persons and those incapacitated by age, disease or accident with whose relief and support the county is charged. § 12. Discipline. Women prisoners. It shall be the duty of the superintendent and he shall have power subject to the regulations adopted by the board of supervisors to maintain discipline on the farm. Whenever the superintendent shall report to the court which had sentenced any prisoner to such farm or camp that such prisoner refuses to abide by the rules of such farm or camp or refuses to work thereon, such court may make an order transferring such prisoner to the county jail or city jail for the unexpired term of his sentence, and all sums credited to such prisoner shall be forfeited by him unless they have been ordered paid to some person dependent upon him. Thereafter the court may recommit such person to the industrial farm or industrial road camp upon recommendation of the superintendent of the farm or camp. It shall be the duty of the superintendent of any industrial farm to which any woman prisoner may be sent to keep such woman prisoner separate from the male prisoners on such farm. Employment shall be provided for the women prisoners separate from that for male prisoners. § 13. Attempts to escape. The boundary of every industrial farm established under the provisions of this act shall be marked by a fence, hedge, or by some other visible line. Every person confined on any such industrial farm who escapes therefrom or attempts to escape therefrom shall upon conviction thereof be imprisoned in a state prison for a term of not less than one year nor more than five years, or in the county jail or industrial farm for not to exceed one year. Any imprisonment in this section provided for shall begin at the expiration of the imprisonment in effect at the time of the escape. § 14. Considered as jail. Any industrial farm or industrial road camp established under the provisions of this act shall be considered a county jail, or as to city prisoners a city jail, for all purposes not inconsistent with the provisions and purposes hereof. Nothing in this act shall operate to prevent any woman being sentenced to a hospital for treatment under any provision of law now existing. § 15. Detention either at jail or farm. Any person held for trial in the jail of a county having established an industrial farm or in the jail of any city whose prisoners are being cared for at such industrial farm, may be detained at the correctional farm or in jail as the court before whom such person is to be tried may order. § 16. Place of custody. The place of custody of any person detained for the purpose of insuring his presence at any trial or hearing as a witness shall be, subject to the order of the court by whose order such person is detained, either in jail or on the industrial farm of the county in which such person is in custody. § 17. Advisory board. Any board of supervisors which has established or desires to establish an industrial farm or industrial road camp may at any time appoint an advisory board to consist of not less than three nor more than five persons. One member of the advisory board shall be a penologist and one member a physician. It shall be the duty of the advisory board to acquaint itself with the conduct of the jails in the county to keep itself informed about the administration of the industrial farm or industrial road camp and to report its recommendations and suggestions to the board of supervisors. It shall have power to visit any jail within the county, to examine the records thereof, and to ascertain whether or not there are any persons illegally committed to or detained at any jail. It shall also be the duty of the advisory board to encourage recreational and educational activities on the industrial farm. АСТ 3603. TITLE 269, INDUSTRIAL LOAN COMPANIES. An act defining industrial loan companies, providing for their incorporation, powers and supervision. [Approved May 18, 1917. Stats. 1917, p. 658. In effect July 27, 1917.] Amended 1921 (Stats. 1921, p. 729). § 10. § 11. § 12. Subject to investment companies act. Order to discontinue violation of law. Order to discontinue § 1. "Industrial loan company." The term "industrial loan company" as used in this act means any corporation which in the regular courso of its business loans money and issues its own choses in action under the provisions of this act. § 2. Incorporation. Corporations may be incorporated under and by virtue of this act in the same manner as corporations under and by virtue of chapter one of title one of part four, division first of the Civil Code, except as otherwise herein provided. § 3. Capital stock. Shares. Capital stock paid. The capital stock of any corporation incorporated under the provisions of this act shall not be less than twenty-five thousand dollars in any city having a population of twenty-five thousand inhabitants or more and less than fifty thousand; and shall not be less than fifty thousand dollars in any city having fifty thousand or more inhabitants, and less than one hundred thousand; and shall not be less than one hundred thousand dollars in any city having one hundred thousand or more inhabitants, according to the last official census. The capital stock of any such corporation shall be divided into shares of the par value of one hundred dollars each. Before the articles of incorporation of any corporation, incorporated under the provisions of this act, are filed, there must be paid in cash for the benefit of the corporation to a treasurer, elected by the subscribers, not less than twenty-five per cent of the amount of the capital stock; the balance of the capital stock shall be paid in cash to the corporation at the rate of not less than ten per cent per month, following the initial payment. No corporation organized hereunder shall create more than one class of stock. § 4. Powers of industrial loan companies. Every corporation under the provision of this act shall have power: First-To loan money on personal security, or otherwise, and to deduct interest therefor in advance at the rate of six per cent per annum, or less, and, in addition, to receive and to require uniform weekly or monthly installments on its certificates of investment, purchased by the borrower simultaneously with the said loan transaction or otherwise, and pledged with the corporation as security for the said loan, with or without an allowance of interest on such installments. Second-To sell or negotiate choses in action for the payment of money at any time, either fixed or uncertain, and to receive payments therefor in installments or otherwise, with or without an allowance of interest upon such installments. Nothing herein contained shall be construed to authorize corporations hereunder to receive deposits or to issue certificates of deposit. The issuance of choses in action herein authorized shall be approved as to form by the commissioner of corporations and shall bear the indorsement on the face of the instrument "This is not a certificate of deposit." Third-To charge for a loan, made pursuant to this section, two dollars, or less for every fifty dollars, or fraction thereof loaned, for expenses, including any examination or investigation of the character and circumstances of the borrower, and the drawing and taking acknowledgment of any papers, or other expenses incurred in making the loan. No charge shall be collected unless a loan shall have been made. Fourth-To establish branch offices, or places of business within the County, in which its principal place of business is locateà, but not elsewhere. In addition to the powers herein enumerated, every corporation, under the provisions of this act, shall have the general powers conferred upon corporations by chapter three, title one, part four, division first, of the Civil Code, except as herein otherwise provided. [Amendment approved May 28, 1921. Stats. 1921, p. 729.] The act amending the above section contained the following provision: "All acts or portions of any act in conflict with the provisions of this act be repealed." § 5. Limitations on corporations. No corporation under the provisions of this act shall: (a) Hold at any one time the obligation or obligations of any person, firm or corporation, for more than two per cent of the amount of the capital and surplus of such industrial loan company. (b) Make any loan, under the provisions of this act, for a longer period than one year from the date thereof. (c) Deposit any of its funds with any other moneyed corporation, unless such corporation has been designated as such depository by a vote of the majority of the directors or of the executive committee, exclusive of any director who is an officer, director or trustee of the depository so designated. (d) Invest any of its funds, otherwise than as herein authorized, except in such investments as are by law legal investments for savings banks, or in the choses in action issued by any other corporation organized under this act. (e) Have outstanding at any time its investment certificates in an aggregate sum in excess of ten times the aggregate amount of its paid up capital, exclusive of those hypothecated with the company issuing them. § 6. Holding real estate. Every corporation, under the provisions of this act, may purchase, hold and convey real estate for the following purposes, but for no other: First Such as shall be conveyed to it in satisfaction of debts previously contracted in the course of its business. Second-Such as it shall purchase at sale under judgments, decrees or mortgage foreclosures under securities held by it, but no such corporation shall bid at any such sale a larger amount than shall be necessary to satisfy its debt and costs. Real estate shall be conveyed under the corporate seal of such corporation and the hand of its president or vice-president and manager or treasurer. Sale of real estate after five years. No real estate acquired in the cases contemplated above shall be held for a longer period than five years. Parcels of such real estate not sold within said time may be purchased by any person wanting the same, upon the conditions and proceedings provided in section fifty-four of "An act to define and regulate the business of banking," approved March 1, 1909. § 7. Dividends. The directors of every corporation, under the provisions of this act, may at certain times and in such manner as its by-laws prescribe, declare and pay dividends to the stockholders of such corporation, of so much of the net profits of the corporation as may be appropriated for that purpose under its by-laws, but before any such dividend is declared, not less than ten per cent of the net profits of such corporation for the preceding half year or for such period as is covered by the dividend, shall be carried to its surplus until such surplus shall amount to twenty-five per cent of the paid up capital stock. § 8. Certificates of investment issued not creation of debt. Issuing certificates of investment and the like in the transaction of the business of corporations under the provisions of this act shall not be construed to be the creation of debt within the meaning of the phrase "create debt" in section three hundred nine of the Civil Code nor of "indebtedness" within the meaning of the phrase "the capital stock cannot be diminished to an amount less than the indebtedness of the corporation" in section three hundred fifty-nine of the Civil Code, except that no company organized hereunder shall reduce its capital stock to an amount less than is required by this act to be maintained by such company or |