Secretary of State No.
INSURANCE RATING BUREAUS. Initiative Act. Prohibits agreements controlling rates for certain kinds of insurance and discrimination because of business methods or insurance board affiliation; provides for organization, membership and conduct of rating bureaus, each under direction of a chief examiner, for promulgating rates, listing same with Insurance Commissioner, vesting latter with supervisory powers thereover subject to judicial review; requires insurance company, before doing business, to file with Insurance Commissioner rate schedule or acceptance of schedule of bureau of which it is member; authorizes investigations by Insurance Commissioner and revocation of licenses for violations of act, and prescribes other penalties.
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Insurance Rating Bureaus California Initiative 1920-i-2 (1920).