The Investment Companies Act faced immediate opposition but was approved by the voters in a 1914 referendum.
A 2009 proposal introduced by Assemblymember Nava (AB 33) was opposed by five former Commissioners, Superintendents and Chief Deputies of the Departments of Banking and Financial Institutions who signed a letter voicing their "strong" opposition to the plan.
Former Commissioner of Corporations Keith Paul Bishop testified against the Governor's reorganization plan when it was being considered by California's Little Hoover Commission.
[4] Notwithstanding these concerns, the Little Hoover Commission recommended that the Legislature allow the Governor's Reorganization Plan go forward.
[5] The Department of Corporations administered and enforced the following California laws: