Proposition Summary

Referendum of Legislative Act. (Chapter 1044, Statutes 1939.) Act amends "Personal Property Brokers Act." Regulates business of brokers and personal property brokers and requires licensing thereof. Regulates loans of three hundred dollars or less, charges thereon, and collateral agreements relating thereto. Exempts specified businesses including those conducted under laws relating to banks, trust companies, building and loan associations, industrial loan companies, credit unions or licensed pawnbrokers. Provides for administration by Corporation Commissioner, authorizing him to issue, suspend and revoke licenses, collect fees, conduct investigations and make regulations. Prescribes penalties for violations.

Proposition Number

4

Year

1939

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 1850811; A: 71.6; N: 732873; B: 28.4

Election Type

Special Election

Proposition Type

Referendum

Code Sections Affected

Amended "Personal Property Brokers Act".

For Author

Albert C. Wollenberg, Assemblyman, Twenty-seventh District, San Francisco; Alexander Sherriffs, Attorney for Legal Aid Society of San Francisco

Against Author

M. M. May, Los Angeles, Calif.; V. G. Wise, San Francisco, Calif.; J. C. Earle, Los Angeles, Calif.

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