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California Proposition 3, the Usury Initiative (1918)

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California Proposition 3 was on the November 5, 1918 ballot in California as an initiated state statute, where it was approved.

Election results

Proposition 3
Approveda Yes 231,147 52.1%

Ballot summary

Proposition 3's official ballot summary said:

"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."

See also

External links

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