Title

USURY LAW

Proposition Summary

Initiative act restricting and regulating rates of interest upon the loan or forbearance of money, goods, things in action, accounts and judgments; limits fees, charges and commissions in connection with loans of money; provides penalties for violation of law and repeals Sections 1917, 1918, 1919, and 1920 of the Civil Code and all conflicting laws.

Proposition Number

3

Year

1918

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 231147; A: 52.1; N: 212207; B: 47.9

Election Type

General Election

Proposition Type

Initiative

Code Sections Affected

Added "Usury Law". Repealed Cal. Civ. Code, sections 1917, 1918, 1919, and 1920, and all conflicting sections.

For Author

William E. Brown, State Senator Thirty-seventh District

Against Author

A. W. Sorenson

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