California Proposition 124, Rules Governing Stock Ownership of Local Hospital Districts (1990)
Proposition 124 would have allowed the California State Legislature to authorize local hospital districts to acquire and own corporate stock in healthcare-related corporations.
The ballot summary said:
- "This measure would permit the Legislature, by statute, to authorize local hospital districts to acquire and own stock of corporations engaging in any health care related business, as defined by the Legislature."
- "Provides that the district shall be subject to the same obligations and liabilities imposed by law upon all other stockholders in those corporations."
- "Provides that the amendments do not repeal or otherwise affect an existing statute denying professional rights, privileges, and powers to corporations and other artificial legal entities."
- Proposition 124, if it had been approved, would have amended Section 6 of Article XVI.
The fiscal estimate provided by the California Legislative Analyst's Office said:
- "This measure has no direct fiscal effect."
Path to the ballot
The California State Legislature voted to put Proposition 124 on the ballot with Assembly Constitutional Amendment 29 (Statutes of 1990, Resolution Chapter 6).
- Hastings California I&R database
- Los Angeles Law Library, 1990 ballot propositions
- November 1990 election results (pages 9-10)