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damages sustained thereby, to be recovered in any court of competent jurisdiction. En. March 21, 1872.
$539. Conditions on which damage to subaqueous cable may be recovered. No telegraph corporation can recover damages for the breaking or injury of any subaqueous telegraph cable, unless such corporation has previously erected on either bank of the waters under which the cable is placed, a monument, indicating the place where the cable lies, and publishes for one month in some newspaper most likely to give notice to navigators, a notice giving a description and the purpose of the monuments, and the general course, landings, and termini of the cable. En. March 21, 1872.
$ 540. May dispose of certain rights. Any telegraph corporation may at any time, with the consent of the persons holding two thirds of the issued stock of the corporation, sell, lease, assign, transfer, or convey any rights, privileges, franchises, or property of the corporation, except its corporate franchise. En. March 21, 1872.
$ 541. Rates of charges to be fixed, and how published. (Repealed.) En. March 21, 1872. Rep. 1873-4, 216.
WATER AND CANAL CORPORATIONS. 548. Corporation may obtain contract to supply city or town. $ 549. Water corporations, duties, etc. Rates, $550. Right to use streets, ways, alleys, and roads. $ 551. To build and keep bridges in repair.
552. Right of purchaser to use water for irrigating.
$ 548. Corporation may obtain contract to supply city or town. No corporation formed to supply any city, city and county, or town with water must do so unless previously authorized by an ordinance oi the authorities thereof, or unless it is done in conformity with a contract entered into between the city, city and county, or town and the corporation. Contracts so made are valid and binding in law, but do not take from the city, city and county, or town the right to regulate the rates for water, nor must any exclusive right be granted. No contract or grant must be made for a term exceeding fifty years. En. March 21, 1872.
Water rights: See secs. 1410 et seq.
$ 549. Water corporations, duties, etc. Rates. All corporations formed to supply water to cities or towns must furnish pure fresh water to the inhabitants thereof, for family uses, so long as the supply permits, at reasonable rates and without distinction of persons, upon proper demand therefor; and must furnish water to the extent of their means, in case of fire or other great necessity, free of charge. The rates to be charged for water must be determined by commissioners, to be selected as follows: two by the city and county or city or town authorities, or, when there are no city or town authorities, by the board of supervisors of the county, and two by the water company; and in case a majority cannot agree to the valuation, the four commissioners must choose a fifth commissioner; if they cannot agree upon a fifth, then the county judge of the county must appoint such fifth person. The decision of the majority of the commissioners shall determine the rates to be charged for water for one year, and until new rates are established. The board of supervisors, or the proper city or town authorities, may prescribe proper rules relating to the delivery of water, not inconsistent with the laws of the state. En. March 21, 1872. Am'd. 1873-4, 216.
Cal.Rep.Cit. 52, 134; 52, 141.
$ 550. Right to use streets, ways, alleys, and roads. Any corporation created under the provisions of this part, for the purposes named in this title, subject to the reasonable direction of the board of supervisors, or city or town authorities, as to the mode and manner of using such right of way, may use so much of the streets, ways, and alleys in any town, city, or city and county, or any public road therein, as may be necessary for laying pipes for conducting water into any such town, city, or city and county, or through or into any part thereof. En. March 21, 1872.
$ 551. To build and keep bridges in repair. Every water or canal corporation must construct and keep in
good repair, at all times, for public use, across their canal, fume, or water pipe, all of the bridges that the board of supervisors of the county in which such canal is situated may require, the bridges being on the lines of public highways and necessary for public uses in connection with such highways; and all water-works must be so laid and constructed as not to obstruct public highways. En. March 21, 1872.
Cal.Rep.Cit. 68, 359; 98, 183.
See the earlier acts upon canal and ditch corporations: Act May 14, 1862, Stats. 1862, 541; and the subsequent act, April 2, 1870, Stats. 1870, 660. See, also, Statutes in force, title Water Commissioners.
Act of March 30, 1872, relative to formation of canal and ditch corporations, Stats. 1871-2, p. 733.
$ 552. Right of purchaser to use water for irrigating. Whenever any corporation, organized under the laws of this state, furnishes water to irrigate lands which said corporation has sold, the right to the flow and use of said water is and shall remain a perpetual easement to the land so sold, at such rates and terms as may be established by said corporation in pursuance of law. And whenever any person who is cultivating land, on the line and within the flow of any ditch owned by such corporation, has been furnished water by it, with which to irrigate his land, such person shall be entitled to the continued use of caid water, upon the same terms as those who have purchased their land of the corporation. En. Stats. 1875-6, 77. Cal.Rep.Cit. 56, 440; 56, 441; 90, 286; 112, 434; 112, 435;
129, 448; 130, 313. Act regulating sale, rental, and distribution of appropriated water: See post, Appendix, title Water Companies.
Irrigation, statutes relating to: See General Laws, title Irrigation.
$ 557. $ 558.
$ 559. $ 560. § 561.
installments, and penalty for failure to pay. By-laws
to be furnished to any member on demand.
hundred thousand dollars.
§ 563. $ 564.
565. $ 566.
$ 557. Time of corporate existence. Corporations organized for the purpose of acquiring lands in large tracts, paying off incumbrances thereon, improving and subdividing them into homestead lots or parcels, and distributing them among the shareholders, and for the accumulation of a fund for such purposes, are known as homestead corporations, and must not have a corporate existence for a longer period than ten years. En. March 21, 1872.
Time of corporate existence: See post, Appendix, title Homesteads.
$ 558. By-laws must specify time for and amount of pay. ment of installments, and penalty for failure to pay. By: laws to be furnished to any member on demand. Such corporations must specify in their by-laws the times when the installments of the capital stock are payable, the amount thereof, and the fines, penalties, or forfeitures incurred in case of default. A printed copy of the articles of incorporation and by-laws must be furnished to any shareholder on demand. En. March 21, 1872.
$ 559. Advertisement and sale of delinquent and for. feited shares. Whenever any shares of stock are declared forfeited, by resolution of the board of directors, the directors may advertise the same for sale, giving the name of the subscriber and the number of shares, by notice of not less than three weeks, published at least once a week
newspaper of general circulation in the city, town, or
vhere the principal place of business of such corporation is located. Such sale must be made at auction, under the direction of the secretary of the company. The corporation may be a bidder, and the shares must be disposed of to the highest bidder for cash. No defect, informality, or irregularity in the proceedings respecting the sale invalidates it, if notice is given as herein provided. After the sale is made the secretary must, on receipt of the purchase money, transfer to the purchaser the shares sold, and after deducting from the proceeds of such sale all installments then due, and all expenses and charges of sale, must hold the residue subject to the order of the delinquent subscriber. En. March 21, 1872.
$ 560. May borrow and loan funds—how, and for what time. Homestead corporations may borrow money for the purposes of the corporation, not exceeding at any one time one fourth of the aggregate amount of the shares or parts of shares actually paid in, and the income thereof; no greater rate of interest must be paid therefor than twelve per cent per annum. For the purpose of completing the purchase of lands intended to be divided and distributed, they may borrow on the security of their shares on the land thus purchased, or that owned by the corporation at the time of procuring the loan, any sum of money which, together with the interest contracted to become due thereon, will not exceed ninety per cent of the unpaid amount subscribed by the shareholders; but no loan must be made to the corporation for a term extending beyond that of its existence. En. March 21, 1872.
$ 561. Minor children, wards, and married women may own stock. Such shares of stock in homestead corporations as may be acquired by children, the cost of which, and the deposits and assessments on which are paid from the personal earnings of the children, or with gifts from persons other than their male parents, may be taken and held for them by their parents or guardians. Married women may hold such shares as they acquire with their personal earnings, or those of their children, voluntarily bestowed therefor, or from property bequeathed or given to them by persons other than their husbands. En. March 21, 1872.