Proposition Summary

Referendum of Legislative Act. (Chapter 952, Statutes 1939.) Act amends "Personal Property Brokers Act." Regulates business of brokers and personal property brokers, requiring 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, appropriating for enforcement all fees collected thereunder, authorizing him to issue and revoke licenses, conduct investigations and make regulations. Prescribes penalties for violations.

Proposition Number

3

Year

1939

Document Type

Proposition

Pass/Fail

Pass

Popular Vote Results

Y: 1853663; A: 71.1; N: 753480; B: 28.9

Election Type

Special Election

Proposition Type

Referendum

Code Sections Affected

Amended "Personal Property Brokers Act".

For Author

John F. Shelley, Senator, Fourteenth District, San Francisco; Gerald J. O'Gara, Attorney at Law, Counsel for the Better Business Bureau of San Francisco; Robert J. Bauer, General Manager, Better Business Bureau, Los Angeles

Against Author

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

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