Oregon Measure Nos. 302-303, Repeal of Double Liability on Bank Stockholders Amendment (1938)
| Oregon Measure Nos. 302-303 | |
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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 |
Oregon Measure Nos. 302-303 was on the ballot as a legislatively referred constitutional amendment in Oregon on November 8, 1938. It was defeated.
A "yes" vote supported repealing the bank stockholders double liability, making each stockholder individually liable to depositors. |
A "no" vote opposed repealing the bank stockholders double liability, making each stockholder individually liable to depositors. |
Election results
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Oregon Measure Nos. 302-303 |
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| Result | Votes | Percentage | ||
| Yes | 133,525 | 44.61% | ||
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165,797 | 55.39% | ||
Text of measure
Ballot title
The ballot title for Measure Nos. 302-303 was as follows:
| “ | AMENDMENT REPEALING THE DOUBLE LIABILITY OF STOCKHOLDERS IN BANKING CORPORATIONS - Purpose: To repeal the provision in the state constitution commonly spoken of as the bank stockholders double liability, which makes each stockholder in a banking corporation individually liable to the depositors in such bank to the amount of the par or face value of his or her stock in such bank in addition to payment for such stock at par. Such repeal will result from the omission of such provisions from the section in its proposed amended form. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Oregon Constitution
A simple majority vote is required during one legislative session for the Oregon State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 31 votes in the Oregon House of Representatives and 16 votes in the Oregon State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of Oregon Salem (capital) |
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