Arizona Proposition 101, Bank Stockholder Liabilities Amendment (September 1956)
| Arizona Proposition 101 | |
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| Election date |
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| Topic Banking policy |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Arizona Proposition 101 was on the ballot as a legislatively referred constitutional amendment in Arizona on September 11, 1956. It was approved.
A "yes" vote supported holding stockholders of banks liable for the bank's obligations to the extent of the amount of their invested stock. |
A "no" vote opposed holding stockholders of banks liable for the bank's obligations to the extent of the amount of their invested stock. |
Election results
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Arizona Proposition 101 |
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| Result | Votes | Percentage | ||
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70,670 | 64.01% | ||
| No | 39,741 | 35.99% | ||
Text of measure
Ballot title
The ballot title for Proposition 101 was as follows:
| “ | An amendment providing that stockholders of those banks (which) are insured by the Federal Deposit Insurance Corporation or other federal insuring instrumentality provided by United States laws, shall be liable for obligations of such banks only to the extent of the amounts already invested in the stock of such banks.—HOUSE CONCURRENT RESOLUTION NO. 8 | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Arizona Constitution
A simple majority vote was needed in each chamber of the Arizona State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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