Oregon Repeal of Double Liability on Bank Stockholders, Measure 2 (1938)

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The Oregon Repeal of Double Liability on Bank Stockholders Amendment, also known as Measure 2, was on the November 8, 1938 ballot in Oregon as a legislatively-referred constitutional amendment, where it was defeated. The measure would have repealed the bank stockholders double liability, which made each stockholder individually liable to depositors.[1]

Election results

Oregon Measure 2 (1938)
Defeatedd No165,79755.39%
Yes 133,525 44.61%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

Referred to the People by the Legislative Assembly

AMENDMENT REPEALING THE DOUBLE LIABILITY OF STOCKHOLDERS IN BANKING CORPORATIONS - Purpose: To repeal the provision in the state constitution commonly spoken of as the bank stockholders double liability, which makes each stockholder in a banking corporation individually liable to the depositors in such bank to the amount of the par or face value of his or her stock in such bank in addition to payment for such stock at par. Such repeal will result from the omission of such provisions from the section in its proposed amended form.
Vote YES or NO

302. Yes. I vote for the proposed amendment.

303. No. I vote against the proposed amendment.


See also

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External links


  1. 1.0 1.1 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed November 18, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.