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to grant the privilege so to do to any individual or corporation, across a navigable stream, under the provisions of this act, said board, or boards shall notify the state engineer of such purpose, and of the precise point where such bridge is proposed to be located. The state engineer shall, within ten days of the receipt of such notice, designate the width of the draw to be made in such bridge, and also the length of the spans necessary to permit the free flow of water.

Hearing before state engineer.

Sec. 5. The communication from the state engineer, fixing the draw and spans, shall be spread upon the minutes of the board, and any bridge constructed at that point shall be in conformity. therewith; provided, however, that the state engineer may, upon hearing before him, had upon the application of any person or body interested, made within ten days after the receipt by said board of supervisors of said communication of said engineer, change his first plans, in which case the modified plans must be so spread upon the minutes, and shall stand in the place of the original; provided, however, that before such hearing is had, the said engineer must give ten days' notice by publication in some newspaper published in the county or counties from which the application came, of the time and place of the hearing. Surveyor-general, when may act.

Sec. 6. In case of the absence or inability of the state engineer to act, the duties devolving upon him under this act shall be performed by the state surveyor-general. Rates of toll, by whom fixed.

Sec. 7. When a bridge shall be built on a navigable stream by one county, or two counties, it may be absolutely free, or tolls sufficient to pay in whole, or in part, for the construction, and to keep up the repairs and expenses thereof, may be charged; the rate to be fixed by the board of supervisors of the county in which the same is located, or, if located in two counties, then by the boards of supervisors of the two counties; or if there be any disagreement between said boards, as to imposing or removing tolls, or the rate, the matter in dispute shall be referred to the board of supervisors of some neighboring county for determination, and its decision, communicated in writing to the clerks of the said boards respectively, shall be final; and if tolls are fixed or removed thereby, the same shall take effect on the tenth day from the date of such written determination.

Supervisors to declare necessity for building bridges.
Sec. 8. The board of supervisors, or other governing
body of any city and county, or county, in this state, shall
have power to declare that it is necessary for the public
convenience to have a bridge or bridges built across any
estuary, swamp, pond, or arm of a bay that may lie or
extend into the county, or city and county, and prescribe
the points between which said bridge or bridges shall
be built, and when they shall have specified the points
between which it is, in their judgment, necessary to build
the said bridge or bridges, they may let contracts to build
the bridges, as aforesaid, and pay for the same out of the
general fund of the city and county, or county.
Sec. 9. This act shall take effect immediately.

ACT 425.

TITLE 60.
BROOKLYN.

Incorporating Brooklyn. [Stats. 1869-70, p. 680.]

Amended 1871-2, 409.

Brooklyn is now a part of Oakland.

TITLE 61.

BUILDING AND LOAN ASSOCIATIONS.

ACT 429..

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 li

censes, pay assessments levied for pro rata of salaries and expenses, and to make and file reports; providing Fenalties 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, 659.]

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, co-operative 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 648 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.

Sec. 2. The administration of said bureau shall be vested in two commissioners, to be known and designated as the "Building and Loan Commissioners," who shall be appointed by the governor (except as herein provided) and commissioned to hold office for the term of four years and until their successors shall be appointed and have qualified. They must be citizens of this state and residents of different counties; and they must not be in any way connected with any association, corporation or society coming under their supervision. They shall be authorized and empowered to appoint a secretary, with powers of examination the same as their own, who must be a practical, skilled accountant, fully conversant with building and loan accounts.

Sec. 3. The commissioners shall each receive a salary of twenty-four hundred dollars per annum, and their secretary shall receive a salary of not exceeding eighteen hundred dollars per annum. There shall also be allowed and paid the necessary traveling expenses of the commissioners and their secretary, not to exceed the sum of eight hundred dollars per annum, The commissioners shall procure and have an office in the city of San Francisco, for which there shall be allowed and paid a rental of not exceeding fifty dollars per month, and such office shall be kept open for business, every business day, during such hours as are commonly observed by the banks of that city as banking hours; they may also provide such fuel, stationery, printing, postage, office help

and other necessary conveniences as may be requisite in such office, at a cost not to exceed, in the aggregate, the sum of five hundred dollars per annum. All said salaries and expenses shall be audited and paid in the same manner as the salaries and expenses of other state officers.

Sec. 4. Before entering upon their respective duties the commissioners must each execute an official bond in the sum of five thousand dollars and the secretary a like bond in the sum of two thousand dollars, and each must take the oath of office as prescribed by the Political Code for state officers in general.

Sec. 5. It shall be the duty of the commissioners to furnish to all associations, corporations or societies, which, in their judgment, legally come under their jurisdiction, and that have otherwise complied with the requirements of law, a license authorizing them to transact business for one year from the date of said license; to receive and place on file in their office the annual or other reports required by law to be made by building and loan associations or other corporations or societies licensed by them; to supply each with blank forms for such statements; and to make, on or before the first day of October in each year, a tabulated report to the governor of this state, showing the condition of all such associations, corporations or societies reporting to them, with such recommendation as they may deem proper, accompanied by a detailed statement of all moneys received by them since their last report, and the disposition thereof.

Sec. 6. It shall be the duty of one or both of the commissioners, in person, at least once in each year, without previous notice, to visit and examine into the affairs of every such association, corporation or society licensed by them, incorporated or doing business in this state; on such occasions they shall have free access to all the books, records, securities and papers of every such association, corporation or society, and shall first count the cash and check the bank balance of such corporation or association with the proper amount of funds as shown by the books to be cn hand and at the date and hour of such examination, and shall then examine and verify the books, accounts, and sccurities, and, so far as possible and consistent, the values of all property owned or held as collateral security for moneys loaned, and otherwise use reasonable diligence to ascertain the financial condition and solvency thereof. They and their secretary shall have power to administer oaths in the line of duty, and to examine under oath the officers, em

ployees and agents, or the custodian or receiver, relative to any or all the business thereof. The commissioners or their secretary or representative shall receive for any examina tion into the books and affairs of any such association, corporation or society formed outside of the State of California and applying for a license to do business in this state, their reasonable expenses, which shall be paid by the association, corporation or society so examined; provided, that they may accept the result of any such examination made by the duly constituted authorities of any state having similar laws of supervision.

Sec. 7. To facilitate the examinations specified in the foregoing section, they shall require every such association, corporation or society to keep its books in such form as to accurately show its assets and liabilities in detail and to keep records written in ink, showing the appraised and assessed values of the real estate security held in connection with each loan, and signed in each case by the appraiser, officer or committee charged with making such estimated valuations. The commissioners shall make a revaluation of the real estate owned, and of the other securities of any such association, corporation or society licensed by them, on which the loan payments may be delinquent for six months or more, and may, for that purpose, appoint local appraisers, who shall be disinterested persons, at the expense of such association, corporation or society; the ex pense of such appraisement to be fixed by the commission. ers, but not to exceed the sum of five dollars for property located outside of any incorporated limits and three dollars for property located inside of any incorporated limits for each property so examined and appraised. Each appraiser so appointed shall be required to make a sworn report to the commissioners of his estimated valuations of all prop erty so examined and appraised.

Sec. 8. The commissioners shall have power to issue sub. poenas and require attendance of any or all trustees, or agents of any such association, corporation or soalety, and such other witnesses as they may deem necessary, in relation to its affairs, transactions and condition, and any such person so served with such subpoena may upon applleation of the commissioner be required by order of the superior court of the county where the corporation, association or society has its principal place of business, to appear and answer such pertinent questions as may be put to him by such commissioner and be required to produce such books,

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