Colorado Banking Amendment, Initiative 5 (1980)

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The Colorado Banking Amendment, also known as Initiative 5, was on the November 4, 1980 ballot in Colorado as an initiated constitutional amendment, where it was defeated. The measure would have allowed banks to open branch facilities separate from their principal offices anywhere in the state if the Banking Board determined that a proposed branch would serve the public need and convenience in the community or area to be served.[1]

Election results

Colorado Initiative 5 (1980)
ResultVotesPercentage
Defeatedd No850,45474.42%
Yes 292,323 25.58%

Election Results from: Colorado State Legislative Council, Ballot History

Text of measure

The language on the ballot appeared as:[1]

Shall a bank be permitted to establish one or more branch banking facilities separate from the principal office of the bank anywhere in the state if the Banking Board determines that the proposed branch will serve the public need and convenience in the community or area to be served, all administrative costs of filing and processing an application for a branch to be paid by the applicant bank?[2]

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References

  1. 1.0 1.1 Colorado State Legislative Council, "Ballot History," accessed February 18, 2014
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.