Initiative act authorizing governor to appoint auditor of investments empowered to employ deputies and fix their compensation, defining investment companies, authorizing examination thereof by auditor and judicial investigation of their practices, defining securities and prohibiting same thereof to public, or taking subscriptions therefor, by such companies before filing with auditor their financial statement and description of security, excepting from act certain companies and individuals, securities thereof and certain installment securities, regulating advertisements and circulars regarding securities, creating fund from official fees for salaries and expenses under act: repeals all laws on subject adopted heretofore or concurrently herewith.
Popular Vote Results
Y: 249500; A: 41.4; N: 353812; B: 58.6
W. C. Wallace
Lee C. Gates, State Senator Thirty-fourth District
REGULATING INVESTMENT COMPANIES California Proposition 40 (1914).