Ohio Stockholder Liability, Amendment 1 (1936)
The Ohio Stockholder Liability Amendment, also known as Amendment 1, was on the November 3, 1936 ballot in Ohio as a legislatively-referred constitutional amendment, where it was approved. The measure eliminated additional liability of stockholders of corporations authorized to receive money on deposits.
|Ohio Amendment 1 (1936)|
Election results via: Ohio Secretary of State
Text of measure
The language that appeared on the ballot:
|“||Proposing to amend Section 3 of Article XIII of the Constitution of Ohio, so as to eliminate therefrom the additional liability of the stockholders of corporations authorized to receive money on deposit.
"Dues from private corporations shall be secured by such means as may be prescribed by law, but in no case shall any stockholder be individually liable otherwise than for the unpaid stock owned by him or her. No corporation not organized under the laws of this state, or of the United States, or person, partnership or association shall use the word 'bank', 'banker' or 'banking', or words of similar meaning in any foreign language, as a designation or name under which business may be conducted in this state unless such corporation, person, partnership or association shall submit to inspection, examination and regulation as may hereafter be provided by the laws of this state."
If the foregoing amendment shall be adopted, it shall take effect July 1, 1937, and existing section 3 of Article XIII of the constitution shall thereupon be repealed and annulled.
SHALL ARTICLE XIII, SECTION 3, CONSTITUTION OF OHIO, RELATING TO LIABILITY OF STOCKHOLDERS BE SO AMENDED.
- Ohio 1936 ballot measures
- 1936 ballot measures
- List of Ohio ballot measures
- History of Initiative & Referendum in Ohio
- Cleveland-Marshall College of Law, "Ohio Constitution: Table of Proposed Amendments," accessed February 9, 2015
- Ohio Secretary of State, "Amendment and Legislation: Proposed Constitutional Amendments, Initiated Legislation, and Laws Challenged by Referendum, Submitted to the Electors," accessed February 9, 2015
- State Library of Ohio, "Proposed constitutional amendments, initiated legislation and laws challenged by referendum, submitted to the electors," accessed February 9, 2015
- Painesville Telegraph, "Here Are Fascimiles Of Ballots To Be Voted On In Lake County Tuesday," November 2, 1936
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
State of Ohio
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|historical ballot measure article requires that the text of the measure be added to the page.|