Ohio Stockholder Liability Amendment (1936)
| Ohio Stockholder Liability Amendment | |
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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 Legislatively referred constitutional amendment |
Origin |
Ohio Stockholder Liability Amendment was on the ballot as a legislatively referred constitutional amendment in Ohio on November 3, 1936. It was approved.
A "yes" vote supported eliminating the libaility of individual stockhoders of corporations authorized to recieve money or deposits. |
A "no" vote opposed eliminating the liability of individual stockholders of corporations authorized to receive money or deposits. |
Election results
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Ohio Stockholder Liability Amendment |
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| Result | Votes | Percentage | ||
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1,078,170 | 56.65% | ||
| No | 824,968 | 43.35% | ||
Text of measure
Ballot title
The ballot title for Stockholder Liability Amendment was as follows:
| “ | 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. ARTICLE XIII, SECTION 3 "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." SCHEDULE 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it shall take effect July 1, 1937, and existing section 3 of Article XIII of the constitution shall thereupon be repealed and annulled.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. | ” |
Path to the ballot
- See also: Amending the Ohio Constitution
A 60% vote is required during one legislative session for the Ohio State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 60 votes in the Ohio House of Representatives and 20 votes in the Ohio 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 Ohio Columbus (capital) |
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