South Dakota Referred Law 4, Department of Banking and Finance Referendum (1916)
| South Dakota Amendment 4 | |
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| Election date |
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| Topic Banking policy |
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| Status |
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| Type Indirect initiated state statute |
Origin |
South Dakota Amendment 4 was on the ballot as an indirect initiated state statute in South Dakota on November 7, 1916. It was defeated.
A "yes" vote supported establishing a Department of Banking and Finance. |
A "no" vote opposed establishing a Department of Banking and Finance. |
Election results
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South Dakota Amendment 4 |
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| Result | Votes | Percentage | ||
| Yes | 47,715 | 47.75% | ||
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52,205 | 52.25% | ||
Text of measure
Ballot title
The ballot title for Amendment 4 was as follows:
| “ | An act creating a state banking board and defining its powers and duties. Creating a bank depositors' guaranty fund; authorizing the levy of assessments against bank stock; providing for the liquidation of insolvent banks; admitting national banks; prescribing penalties for recreant officials; authorizing rewards for criminals. | ” |
Path to the ballot
- See also: Indirect initiated state statute
From 1898 to 1988, initiated statutes were indirect in South Dakota. Voters made the process direct with approval of Amendment A in 1988.
An indirect initiated state statute is a citizen-initiated ballot measure that amends state statute. There are nine (9) states that allow citizens to initiate indirect state statutes.
While a direct initiative is placed on the ballot once supporters file the required number of valid signatures, an indirect initiative is first presented to the state legislature. Legislators have a certain number of days, depending on the state, to adopt the initiative into law. Should legislators take no action or reject the initiative, the initiative is put on the ballot for voters to decide.
See also
External links
Footnotes
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