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.
Popular Vote Results
Y: 1853663; A: 71.1; N: 753480; B: 28.9
Code Sections Affected
Amended "Personal Property Brokers Act".
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
M. M. May, Los Angeles, Calif.; V. G. Wise, San Francisco, Calif.; J. C. Earle, Los Angeles, Calif.
PERSONAL PROPERTY BROKERS California Proposition 3 (1939).