The South Dakota State Owned Banks Initiative was on the November 7, 1922 ballot in South Dakota as an indirect initiated state statute, where it was defeated. The measure would have declared the purpose of the state's engagement in banking, and would have established a system of banking under the name of the Bank of South Dakota.
| South Dakota State Owned Banks Initiative (1922)|
|Yes|| 33,032|| 21.20%|
Election results via: South Dakota Political Almanac, Table 7. Results of Elections Concerning State Constitutional Amendments and Initiated and Referred Laws, 1889-1968
Text of measure
Path to the ballot
- See also: Laws governing the initiative process in South Dakota
A petition signed by more than 5 percent of the state's qualified electors was filed with the secretary of state's office. At the time, South Dakota had an indirect initiated state statute system. Therefore, the secretary of state transmitted the proposed law to the House and Senate, where it was known as House Bill 365. The legislature, in turn, choose to submit the matter to a popular vote, rather than enacting the measure directly.