SECTIONS 14350-14353 - California Statutes

CORPORATIONS CODE

SECTION 14350-14353

14350. A corporation may not construct, or take tolls on, a bridge,
ferry, wharf, chute, or pier until authority is granted therefor by
the board of supervisors, or other governing body, as appropriate.

14351. Every corporation that has heretofore or may hereafter be
incorporated may be dissolved under either of the following
conditions:
(a) If within one year from filing its articles of incorporation,
it has not obtained authority from the board of supervisors, or other
governing body, and if, within one year thereafter, it has not
commenced the construction of the bridge, wharf, chute, or pier, and
if, within two years after obtaining authority, there has not been
actually expended thereon a sum equal to at least 10 percent of the
issued capital stock of the corporation obtaining authority.
(b) If within seven years from the time that authority to
construct the bridge, wharf, chute, or pier was granted by the board
of supervisors, or within that further time as the board may lawfully
grant, the bridge, wharf, chute, or pier is not completed. However,
the board of supervisors may from time to time by order extend the
time of completion beyond seven years, if the actual and physical
work of constructing the bridge, wharf, chute, or pier has been
diligently prosecuted from the time of commencement thereof up to the
time that application for the extension or extensions beyond seven
years is presented to the board of supervisors.
(c) If, when the bridge, wharf, chute, or pier of the corporation
is destroyed, it is not reconstructed and ready for use within three
years thereafter.
(d) If the ferry of a corporation is not in running order within
one year after authority is obtained to establish it, or if at any
time thereafter it ceases for a like term consecutively to perform
the duties imposed by law.

14352. The president and secretary of every bridge, ferry, wharf,
chute, or pier corporation shall annually, under oath, report to the
board of supervisors, or other governing body having authority in
that behalf, of the county in which the articles of incorporation are
filed all of the following:
(a) The cost of constructing and providing all necessary
appendages and appurtenances for its bridge, ferry, wharf, chute, or
pier.
(b) The amount of all moneys expended thereon, since its
construction, for repairs and incidental expenses.
(c) The amount of its capital stock, how much paid in, and how
much actually expended thereof.
(d) The amount received during the year for tolls, and from all
other sources, stating each separately.
(e) The amount of dividends made, and the indebtedness of the
corporation, specifying for what it was incurred.
(f) Other facts and particulars respecting the business of the
corporation, as the board of supervisors or other governing body
having authority in that behalf may require.
The president and secretary shall cause this report to be
published for four weeks in a daily newspaper published nearest the
bridge, ferry, wharf, pier, or chute, if required by order of the
board of supervisors or other governing body having authority in that
behalf. A failure to make the report subjects the corporation to a
penalty of two hundred dollars ($200) and, for every week permitted
to elapse after that failure, an additional penalty of fifty dollars
($50), payable in each case to the county from which the authority of
the corporation was derived. All these cases shall be reported by
the board of supervisors, or other governing body having authority in
that behalf, to the district attorney or city attorney, who must
commence an action therefor.

14353. When a bridge, ferry, wharf, chute, or pier is constructed,
operated, or owned by a natural person, this part is applicable to
that person in like manner as it is applicable to corporations.