California Proposition 3, Broker Regulations Referendum (1939)
| California Proposition 3 | |
|---|---|
 | |
| Election date November 7, 1939 | |
| Topic Business regulation | |
Status Approved | |
| Type Referendum | Origin Citizens |
California Proposition 3 was on the ballot as a veto referendum in California on November 7, 1939. It was approved.
A “yes” vote supported upholding the Act passed by the state legislature, which was designed to regulate the business and licensure of brokers and personal property brokers and regulate loans for $300 or less. |
A “no” vote opposed repealing the Act passed by the state legislature, which was designed to regulate the business and licensure of brokers and personal property brokers and regulate loans for $300 or less. |
Election results
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California Proposition 3 |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
1,853,663 | 71.10% | ||
| No | 753,480 | 28.90% | ||
Text of measure
Ballot title
The ballot title for Proposition 3 was as follows:
| “ | Personal Property Brokers | ” |
Ballot summary
The ballot summary for this measure was:
| “ | 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. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
In California, the number of signatures required for a veto referendum is equal to 5 percent of the votes cast at the preceding gubernatorial election. For veto referendums filed in 1939, at least 132,573 valid signatures were required. Proponents of the veto referendum had 90 days from the date that the bill was signed to collect signatures.
See also
External links
Footnotes
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