Proposition Summary

Assembly Constitutional Amendment 28. Amends first paragraph of section 22 of Article XX, Constitution. Declares rate of interest on loan or forbearance of any money, goods or things in action, or on accounts after demand, 7 percent per annum, but parties thereto may contract in writing for interest rate not exceeding 10 percent per annum. Declares interest rate on court judgments 5 percent per annum.

Proposition Number

14

Year

1942

Document Type

Proposition

Pass/Fail

Fail

Popular Vote Results

Y: 511810; A: 37.6; N: 851076; B: 62.4

Election Type

General Election

Proposition Type

Assembly Constitutional Amendment

For Author

Rodney L. Turner, Member of the Assembly, Forty-first District.; Don A. Allen, Member of the Assembly, Sixty-third District.

Against Author

Franklin J. Potter, Member of the Assembly, Fifty-seventh District.

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