Missouri Proposition 3, Branch Banking Initiative (1958)
| Missouri Proposition 3 | |
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| Election date |
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| Topic Banking policy and Business regulations |
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| Status |
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| Type Initiated state statute |
Origin |
Missouri Proposition 3 was on the ballot as an initiated state statute in Missouri on November 4, 1958. It was defeated.
A "yes" vote supported enacting a law that allows banking institutions, with approval from the Commissioner of Finance, to establish branches within their home city, county, or certain urban areas with over 400,000 people and nearby territories. |
A "no" vote opposed enacting a law that allows banking institutions, with approval from the Commissioner of Finance, to establish branches within their home city, county, or certain urban areas with over 400,000 people and nearby territories. |
Election results
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Missouri Proposition 3 |
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| Result | Votes | Percentage | ||
| Yes | 287,931 | 29.82% | ||
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677,539 | 70.18% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Proposition 3 was as follows:
| “ | Proposition No. 3.- (An Act Submitted by Initiative Petition.) To permit banking institutions, upon prior approval of the Commissioner of Finance, to establish and operate branches within the limits of any one or more of the following: (1) within the city, town, village or constitutional charter city in which its principal office is located; (2) within the county in which its principal office is located; (3) within the urban area (being such a municipality the population of which exceeds 400,000 inhabitants together with the territory adjacent thereto which lies within twelve miles of the limits thereof), if any, which its principal office is located. | ” |
Path to the ballot
An initiated state statute is a citizen-initiated ballot measure that amends state statute. There are 21 states that allow citizens to initiate state statutes, including 14 that provide for direct initiatives and nine (9) that provide for indirect initiatives (two provide for both). An indirect initiated state statute goes to the legislature after a successful signature drive. The legislatures in these states have the option of approving the initiative itself, rather than the initiative appearing on the ballot.
In Missouri, the number of signatures required for an initiated state statute is based on the number of votes cast for governor in the state's most recent gubernatorial election. In two-thirds of Missouri's congressional districts, proponents must collect signatures equal to 5% of the gubernatorial vote for initiated constitutional amendments. A simple majority vote is required for voter approval.
See also
External links
Footnotes
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State of Missouri Jefferson City (capital) |
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