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California Proposition 10, Building and Loan Associations Reorganization Initiative (1942)
| California Proposition 10 | |
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| Election date |
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| Topic Business regulations |
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| Status |
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| Type Indirect initiated state statute |
Origin |
California Proposition 10 was on the ballot as an indirect initiated state statute in California on November 3, 1942. It was defeated.
A “yes” vote supported allowing for the rehabilitation, readjustment, reorganization, consolidation, or merger of building and loan associations and providing for means of doing such. |
A “no” vote opposed allowing for the rehabilitation, readjustment, reorganization, consolidation, or merger of building and loan associations and providing for means of doing such. |
Election results
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California Proposition 10 |
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| Result | Votes | Percentage | ||
| Yes | 378,805 | 27.18% | ||
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1,015,128 | 72.82% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Proposition 10 was as follows:
| “ | Reorganization of Building and Loan Associations. Initiative to Legislature. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Adds Article XVII to Building and Loan Association Ad. Authorizes plans for rehabilitation, readjustment, reorganization, consolidation or merger of building and loan associations, and defines classes of associations affected. Requires consents, specifies procedure, and designates securities permitted to be issued. Requires plans be fair, equitable, non-discriminatory and feasible, and approved by superior court after notice and hearing; declares effect of such approval, and requires undertaking on appeal therefrom. Specifies rights and duties of Building and Loan Commissioner. Declares Legislature may amend or repeal Act. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
In California, the number of signatures required for an indirect initiated state statute was equal to 8 percent of the votes cast at the preceding gubernatorial election. For indirect initiated statutes filed in 1942, at least 212,117 valid signatures were required. In 1966, voters approved Proposition 1A, which eliminated the indirect initiative process, among other constitutional changes.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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