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(Stats. 1856, p. 132), and is extended to include every injury to property insured."

§ 549. Presenting false proofs in support of a claim upon policy of insurance. Every person who presents or causes to be presented any false or fraudulent claim, or any proof in support of any such claim, upon any contract of insurance for the payment of any loss, or who prepares, makes, or subscribes any account, certificate of survey, affidavit, or proof of loss, or other book, paper, or writing with intent to present or use the same, or to allow it to be presented or used in support of any such claim, is punishable by imprisonment in the state prison not exceeding three years, or by a fine not exceeding one thousand dollars, or by both.

Notice and proof of loss: See Civ. Code, §§ 2633-2637.

Legislation § 549. Enacted February 14, 1872; almost identical with Field's Draft, § 633, N. Y. Pen. Code, § 579.

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Stamping false weight, measure, or tare on casks or packages.
Sellers to give full weight.

Sale of coal.

§ 552. "False weight" and "measure" defined. A false weight or measure is one which does not conform to the standard established by the laws of the United States of America.

Weights and measures: See Pol. Code, §§ 3209-3223.

Weights and measures: See Acts of 1911, p. 383, and 1913, p. 1086, General Laws, Acts 4384, 4385.

Legislation § 552. Enacted February 14, 1872. The code commissioners say: "Based on the act of April 4, 1861 (Stats. 1861, p. 86), establishing a standard of weights and measures.'

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§ 553. Using false weights or measures. Every person who uses any weight or measure, knowing it to be false, by which use another is defrauded or otherwise injured, is guilty of a misdemeanor.

Legislation § 553. Enacted February 14, 1872; identical with Field's Draft, § 634, N. Y. Pen. Code, § 580. The code commissioners say: "Founded upon § 14 of the act cited in note to preceding sec tion, and § 133 of the Crimes and Punishment Act of 1850. (Stats. 1850, p. 229.)"

§ 554. Stamping false weight, measure, or tare on casks or packages. Every person who knowingly marks or stamps false or short weight or measure, or false tare, on any cask

or package, or knowingly sells, or offers for sale, any cask or package so marked, is guilty of a misdemeanor.

Legislation § 554. Enacted February 14, 1872; almost identical with Field's Draft, § 640, N. Y. Pen. Code, § 585.

§ 555. Sellers to give full weight. In all sales of coal, hay, and other commodities, usually sold by the ton or fractional parts thereof, the seller must give to the purchaser full weight, at the rate of two thousand pounds to the ton; and in all sales of articles which are sold in commerce by avoirdupois weight, the seller must give to the purchaser full weight, at the rate of sixteen ounces to the pound; and any person violating this section is guilty of a misdemeanor.

Legislation § 555. Added by Code Amdts. 1875-76, p. 112.

§ 556. Sale of coal. No person shall willfully or knowingly, with intent to defraud, sell or exchange, or offer or expose for sale or exchange, coal of a specific name or kind under any other name or description, or as the output of any mine other than the mine of which it is the product, and any person who shall violate any of the provisions of this section is guilty of a misdemeanor.

Legislation § 556. Added by Stats. 1915, p. 1290.

CHAPTER XIII.

Fraudulent Insolvencies by Corporations, and Other Frauds in Their Management.

$557. Fraud in subscriptions for stock of corporations.

§ 558. Frauds in procuring organization of corporation or increasing its capital.

$559. Unauthorized use of name in prospectus, etc.

§ 560. Misconduct of directors of stock corporations.
$561. Savings-bank officer overdrawing his account.
$562. Receiving deposits in insolvent banks.

$563. Frauds in keeping accounts in books of corporations.
$564. Officer of corporation publishing false reports, etc.
$565. Officer of corporation to permit an inspection.

$566. Officer of railroad company contracting debt in its behalf exceeding its available means.

§ 567. Debt contracted in violation of last section not invalid. $568. Director of a corporation presumed to have knowledge of its affairs.

$569. Director present at meeting, when presumed to have assented to proceedings.

§ 570. Director absent from meeting, when presumed to have assented to proceedings.

$571. Foreign corporations.

$572. "Director" defined.

573. Officer may not borrow cemetery corporation funds.

Code commissioners' note to Chapter XIII. "Most of the provisions of this chapter, which are taken from the New York Penal

W.J. J.

§ 559

PENAL CODE.

250

Code [Field's Draft] (§§ 645 to 668), are new to our laws. The great importance that corporations are assuming in the country, the almost absolute power of the directors over the property of the corporation, and the numerous frauds that are perpetrated upon the community as well as upon shareholders, point the necessity for stringent penal enactments."

§ 557. Fraud in subscriptions for stock of corporations. Every person who signs the name of a fictitious person to any subscription for or agreement to take stock in any corporation existing or proposed, and every person who signs to any subscription or agreement the name of any person, knowing that such person has not means or does not intend in good faith to comply with all the terms thereof, or under any understanding or agreement that the terms of such subscription or agreement are not to be complied with or enforced, is guilty of a misdemeanor.

Subscription to articles of incorporation: Civ. Code, § 292.
Subscription to capital stock: Civ. Code, § 293.
Oath to subscription: Civ. Code, § 295.

Legislation § 557. Enacted February 14, 1872; identical with Field's Draft, § 645. The code commissioners say: "This section is intended to reach a species of fraud frequently practiced in the organization of corporations. (See Palmer v. Lawrence, 3 Sandf. 161; 1 Seld. 389.)"

§ 558. Frauds in procuring organization of corporation, or increasing its capital. Every officer, agent, or clerk of any corporation, or of any persons proposing to organize a corporation, or to increase the capital stock of any corporation, who knowingly exhibits any false, forged, or altered book, paper, voucher, security, or other instrument of evidence to any public officer or board authorized by law to examine the organization of such corporation, or to investigate its affairs, or to be allowed an increase of its capital, with intent to deceive such officer or board in respect thereto, is punishable by imprisonment in the state prison not less than three nor more than ten years.

False certificate, report, or notice. Civil liability of officers: See
Civ. Code, § 316.

Corporations, organization of: Civ. Code, §§ 283 et seq.
Records: Civ. Code, §§ 377, 378.

Increasing stock: Civ. Code, § 359.

Legislation § 558. Enacted February 14, 1872; based on Field's Draft, § 645, N. Y. Pen. Code, § 592.

§ 559. Unauthorized use of name in prospectus, etc. Every person who, without being authorized so to do, subscribes the name of another to or inserts the name of another in any prospectus, circular, or other advertisement, or announcement of any corporation or joint-stock association,

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existing or intended to be formed, with intent to permit the same to be published, and thereby to lead persons to believe that the person whose name is so subscribed is an officer, agent, member or promoter of such corporation or association, is guilty of a misdemeanor.

Frauds in procuring organization, etc., of corporation: See ante, § 558.

Legislation § 559. Field's Draft, § 647.

Enacted February 14, 1872; identical with

§ 560. Misconduct of directors of stock corporations. Every director of any stock corporation who concurs in any vote or act of the directors of such corporation or any of them, by which it is intended, either:

1. To make any dividend, except from the surplus profits arising from the business of the corporation, and in the cases and manner allowed by law; or,

2. To divide, withdraw, or in any manner, except as provided by law, pay to the stockholders, or any of them, any part of the capital stock of the corporation; or,

3. To discount or receive any note or other evidence of debt in payment of any installment actually called in and required to be paid, or with the intent to provide the means of making such payment; or,

4. To receive or discount any note or other evidence of debt, with the intent to enable any stockholder to withdraw any part of the money paid in by him, or his stock; or,

5. To receive from any other stock corporation, in exchange for the shares, notes, bonds, or other evidences of debt of their own corporation, shares of the capital stock of such other corporation, or notes, bonds, or other evidences of debt issued by such other corporation;

-Is guilty of a misdemeanor.

Dividends to be made from surplus profits: Civ. Code, § 309. Officers of bank making illegal loans or investments: See Civ. Code, § 581.

Officer of bank advertising or making statement as to capital stock without showing amount paid up: See Civ. Code, § 583a.

Persons engaged in banking, guilty of misdemeanor, unless true name shown: See Civ. Code, § 582.

Legislation § 560. Enacted February 14, 1872; based on Field's Draft, § 648, N. Y. Pen. Code, § 594.

§ 561. Savings-bank officer overdrawing his account. Every officer, agent, teller, or clerk of any savings bank, who knowingly overdraws his account with such bank, and thereby wrongfully obtains the money, note, or funds of such bank, is guilty of a misdemeanor.

Legislation § 561. 1. Enacted February 14, 1872; based on Field's Draft, § 654, N. Y. Pen. Code, § 600.

2. Amendment by Stats. 1901, p. 468; unconstitutional. See note, § 5, ante.

§ 562. Receiving deposits in insolvent banks. Every officer, agent, teller, or clerk of any bank, and every individual banker, or agent, teller, or clerk of any individual banker, who receives any deposits, knowing that such bank, or association, or banker is insolvent, is guilty of a misdemeanor.

Legislation § 562. 1. Enacted February 14, 1872; based on Field's Draft, § 655, N. Y. Pen. Code, § 601.

2. Amendment by Stats. 1901, p. 468; unconstitutional. See note, § 5, ante.

§ 563. Frauds in keeping accounts in books of corporations. Every director, officer, or agent of any corporation or joint-stock association, who knowingly receives or possesses himself of any property of such corporation or association, otherwise than in payment of a just demand, and who, with intent to defraud, omits to make, or to cause or direct to be made, a full and true entry thereof in the books or accounts of such corporation or association, and every director, officer, agent, or member of any corporation or joint-stock association who, with intent to defraud, destroys, alters, mutilates, or falsifies any of the books, papers, writings, or securities belonging to such corporation or association, or makes, or concurs in making, any false entries, or omits, or concurs in omitting to make any material entry in any book of accounts, or other record or document kept by such corporation or association, is punishable by imprisonment in the state prison not less than three nor more than ten years, or by imprisonment in a county jail not exceeding one year, and a fine not exceeding five hundred dollars, or by both such fine and imprisonment.

Frauds in procuring organization, etc., of corporation: See ante, § 558.

Legislation § 563. Enacted February 14, 1872; almost identical with Field's Draft, § 656.

§ 564. Officer of corporation publishing false reports, etc. Every director, officer, or agent of any corporation or joint-stock association, who knowingly concurs in making, publishing, or posting either generally or privately to the stockholders or other persons, any written report, exhibit, or statement of its affairs or pecuniary condition, or book or notice containing any material statement which is false, or any untrue or willfully or fraudulently exaggerated report, prospectus, account, statement of operations, values,

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