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.

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.

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.

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.

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 ninety-three, and all acts amendatory thereof, are hereby repealed.

Sec. 20. This act shall take effect and be in force from and after its passage.

Legislative History.

The act of 1893, supra, is to be found at page 686 of "Corporation Laws of California."

An act creating a board of commissioners of building and loan associations and prescribing their powers and duties.

Legislative History.

[Stats. 1893, p. 229.]

This act appears in full in "Corporation Laws of California,”’ at page 686. Repealed by act of March 21, 1905. See p. 159, supra. Partly codified by amendments of Civil Code, adopted 1905. See section 638a, Civil Code, ante.

Additional Annotation.

"

Attachment. See act creating board of bank commissioners, page 662, Corporation Laws of California." (Bories v. Union B. & L. Assn., 141 Cal. 78, 74 Pac. 552.)

Construction-Unconstitutional

Section. Construction of section

(Provident etc.

19 of act, holding such section unconstitutional. Assn. v. Davis, 143 Cal. 258, 76 Pac. 1034.)

CEMETERY CORPORATIONS.

An act authorizing incorporation of rural cemetery associations. [Stats. 1859, p. 281.]

Legislative History.

This act with its amendments is to be found at page 921 of 'Corporation Laws of California.”

Additional Annotation.

Police Power-Taking and Holding Property.-Real property acquired under this act is subject to control of police power expressed in ordinance. (Odd Fellows' Cem. Assn. v. San Francisco, 140 Cal. 232, 73 Pac. 987.)

CHAMBERS OF COMMERCE.

An act to provide for the formation of chambers of commerce, boards of trade, mechanics' institutes, and other kindred protective associations.

[Stats. 1865-66, 469.]

Legislative History.

This act appears in full in "Corporation Laws of California," at page 694.

Codified by amendments of Civil Code, adopted 1905. See section 591, Civil Code, ante.

CO-OPERATIVE ASSOCIATIONS.

An act defining and providing for the organization and government of co-operative business corporations.

Legislative History.

[Stats. 1877-78, p. 883.]

Superseded by 1895, 221, for which see page 698 of "Corporation Laws of California."

Codified in part by amendments of Civil Code, adopted 1905. See section 653a, Civil Code, ante.

An act to provide for the incorporation, operation, and management of co-operative associations.

Legislative History.

[Stats. 1895, p. 221.]

This act appears in full in "Corporation Laws of California," at page 698.

Codified by amendments of Civil Code, adopted 1905. See section 653b, Civil Code, ante.

CORPORATIONS.

An act relating to revenue and taxation, providing for a license tax upon corporations and making an appropriation for the purpose of carrying out the objects of this act.

[Approved March 20, 1905. Stats. 1905, p. 493.]

Section 1. No corporation heretofore or hereafter incorporated under the laws of this state, or any other state, shall do or attempt to do any business by virtue of its charter or certificate of incorporation, in this state, without a state license therefor.

Sec. 2. Upon every corporation which has heretofore obtained, or which shall hereafter obtain a charter of certificate of incorporation from this state, or any foreign corporation heretofore or hereafter incorporated and doing business in this state, there shall be an annual license tax of ten dollars, to be paid between the first Monday in July and the first Monday in August of each year, to the secretary of state, who shall pay

the same into the state treasury, to be paid into the general fund of the state.

Sec. 3. Any corporation formed under the laws of this state which shall fail to pay the tax provided for in the last two sections, shall, because of such failure, forfeit its charter to the state, and any foreign corporation which shall fail to pay the tax provided for in the last two sections, shall, because of such failure forfeit the right to do business in this state.

Sec. 4. It shall be the duty of the secretary of state on the first Monday of October in each year to report to the governor a list of all the corporations which have failed, neglected or refused to pay the said license tax, and the governor shall forthwith issue his proclamation, declaring under this act of the legislature, that the charters of domestic corporations will be forfeited, and the right of foreign corporations to do business in this state will be forfeited unless payment of said license tax is made as above required within sixty days from date of said proclamation, together with a penalty of five dollars in addition thereto.

Sec. 5. Said proclamation on the day of its date shall be filed in the office of the secretary of state, and within five days thereafter said secretary of state shall transmit a certified copy of said proclamation to the county clerk of each county in this state, who shall file the same in his office. Said secretary of state shall also within five days from the date of said proclamation, cause a copy thereof to be published in one issue of two daily newspapers, to be selected by the governor.

Sec. 6. At the expiration of said sixty days from the date of said proclamation, the charters of all domestic corporations who have not complied with the provisions of this act and paid said tax, shall be forfeited to the State of California, and all foreign corporations who have not complied with the provisions of this act and paid said tax, shall forfeit the right to do business in this state.

Sec. 7. Nothing in this chapter shall be construed as imposing a license tax on educational, religious, scientific, charitable, or any corporation which is not organized for pecuniary profit.