When two floats, going in opposite directions approach each other in the vicinity of a float which is stationary or moving at a slow rate of speed, in such manner that they would, if both should continue their headway, meet by the side of such third float, the float which shall be going in the same direction as the third float is going, or is headed, shall stop until the float going in the opposite direction has passed. In canalized rivers where a current exists, however, the float which is proceeding with the current shall have the right of way past the stationary or slow-moving float and the float which is proceeding against the current shall wait until the float proceeding with the current has passed. The float proceeding with the current shall indicate to the approaching float its intention to proceed. Any operator of a float violating this section shall be subject to a penalty not to exceed $100 for each offense.