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California Proposition 14, Insurance Regulation Referendum (1920)
| California Proposition 14 | |
|---|---|
 | |
| Election date November 2, 1920 | |
| Topic Insurance | |
| Status | |
| Type Referendum | Origin Citizens |
California Proposition 14 was on the ballot as a veto referendum in California on November 2, 1920. It was defeated.
A “yes” vote supported upholding the Act passed by the state legislature, which was designed to prohibit any subsidiary corporation of, or person controlled by, any state bank from acting as the general agent of any insurance company, except in cities where the population is less than 5,000. |
A “no” vote supported repealing the Act passed by the state legislature, which was designed to prohibit any subsidiary corporation of, or person controlled by, any state bank from acting as the general agent of any insurance company, except in cities where the population is less than 5,000. |
Election results
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California Proposition 14 |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 308,062 | 48.42% | ||
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|
328,115 | 51.58% | ||
Text of measure
Ballot title
The ballot title for Proposition 14 was as follows:
| “ | Insurance Act | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Submitted to electors by referendum. Prohibits any subsidiary corporation, agent, or employee of or person or corporation controlled by, any bank organized under laws of California or of any state in the United States, from acting as general agent or department manager of any insurance company transacting business in California, and prescribes conditions under which they may act as local agent therefor; declares appointment of life, health and accident, title, or county mutual insurance agents, or of any insurance agent in or for any place having population not exceeding five thousand, unaffected hereby; and prescribes penalties. | ” |
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 1920, at least 34,434 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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State of California Sacramento (capital) |
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