Houston, Norman Oliver
unknown · Contribution: 1925-1945
Co-founded Golden State Mutual Life Insurance Company; raised the company's initial $15,000 capital requirement
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Impact on the world
Raised the critical $15,000 in startup capital required by California law to launch Golden State Mutual, then served as the company's Secretary and Treasurer for two decades before becoming its second president upon founder William Nickerson's death in 1945.
Life & background
A young insurance salesman from Northern California, Houston partnered with William Nickerson Jr. and George A. Beavers Jr. to found Golden State Mutual in 1925, personally raising the $15,000 in startup capital required by California insurance law through the sale of Certificates of Advancement. He served as the company's Secretary and Treasurer for 20 years before being elected its second president following Nickerson's death in 1945.
Sources
- UCLA Library / Online Archive of California (Golden State Mutual records; Norman O. Houston files); California African American Museum; Los Angeles Public Library
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